MBA often gives a boost not only to your CV but also to your career. However, it is often assumed that MBA from any source will yield the same result. One has to understand that everything has its own perks and drawbacks. MBA is not about the degree, it’s about the exposure, it is the learning which you will not experience in an online MBA program. The question of full-time MBA vs part-time MBA course comes up quite a bit.
Exposure yields experience and an experience holder often succeeds. Earning an MBA is an important step in climbing the corporate ladder. Graduates from MBA programs typically earn higher salaries and as a result, the top business schools are highly competitive.
We all know the full-time programs- those are the big ones that everyone wants to get in. However, the part-time programs are less known and there is quite a bit of misinformation about them. Here in this article, we will discuss the advantages and disadvantages of a part-time MBA program.
Work and Study Together:
A part-time MBA is the best option for the students who aspire to earn and study both simultaneously. Whether you are a freshman who needs work to cover his tuition fees or a working adult looking for a career change or promotion, combining work and study is an important choice that will greatly influence your career.
Part-time MBAs are indeed very flexible as compared to a full-time MBA. You can usually start in the spring, summer or fall semester without having to wait for fall. Online resources allow you to choose a time schedule as per your convenience.
You continue earning a salary while getting your MBA, so the cost is less. A good job is a great way to avoid debt and focus on long-term plans. With the right salary, are able to pay the tuition fees and even save some extra cash.
Although the medium of instruction differs and there is a lack of exposure. The course structure and curriculum is same and the students do not loose out to the essentials of the course. In layman terms, it is a situation of loosing out one thing in order to gain other.
Knowledge gained from your studies and the demands of combining study and work will play an important role in your personal and professional development. You will likely to improve your time management skills, learn to set goals, keep a positive attitude and work harder. As for internship, they might not offer a salary, they are an invaluable source of business experience a free training. A good internship is the promise of a job in a respectable company while leaving more time for your studies.
Although part-time MBA programs can be flexible and cost-effective, there are drawbacks. According to Gonring, the Mc Donalds spokesman, “You may be squeezing in extra development and learning but you definitely pay for it with your free time”, he says. Here are some of the drawbacks stated below.
Every part-time program requires “immense” amount of studying. It is imperative that you manage your time wisely. Most of the part-time doers are the ones who are established professional and have a family. Therefore before joining one should know how much time can be invested and is their time worth its investment?
Investment banking and consulting firms’ recruiting process are quite rigorous and they usually offer jobs to successful interns. Thus depriving the part-timers of an opportunity of campus replacement of successful internship. Most of the programs will, to a certain extent exclude their part-time students from on-campus recruiting events, job fairs or sometimes even career services.
There is low competition in part-time MBA. Therefore the assessment of student capabilities is not done resulting in the generation of less capable students with no quality enhancement. There is a notable amount of dropouts observed in part-time programs. The students are unable to cope up with distant learning. This feeling makes you inferior in comparison to full-time MBAs.
Lack of Benefits:
Though the students have the same curriculum it lacks several benefits of a regular course. Students also loose out on the productive classroom sessions and interactive discussions with peers. The enrolment criteria of part-time programs lack completely in the competitive aspects, failing to assess various skills and capabilities of the candidates.
Less Income Potential:
Many graduates stay with the same employer and make marginal improvements to their salaries. At the same time, their careers have often stagnated during 3 years part-time MBA process when they are studying, applying and studying again. So putting career on pause hoping that the MBA will be enough to excite employer but resume and accomplishments suffer. Its a trade-off few realize and it is one thing that keeps one in the old job for a few years after part-time MBA until one can work out of it or stumble into another job.
I can write more advantages and disadvantages but according to me, these stand out and are important to take a decision. The conclusion of this discourse is for you to derive. There are aspects that may not have been covered in this article, but you can get a general sense of what can you expect to gain or lose from the more flexible part-time MBA. Hope you are able to decide well and do let AfterGraduation know, whether it is worth it for you?
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