If you are ready to pursue and MBA and you are trying to decide between a part-time MBA program and a full-time MBA program, here are some things to consider.
In general, part-time programs are geared towards those with a little more work experience, those who don’t necessarily want to change their careers, those who may want to keep their jobs, and also those with supportive employers who will tolerate the demands these programs will make.
There are some advantages and disadvantages to consider. The advantages include: you wouldn’t have to relocate or quit your job, and there are generally more experienced classmates in the classroom adding to the learning process. You get to continue earning and income while you learn and you get to apply what you are learning directly to your job. Your employer may even be willing to pay part or all of your tuition.
The disadvantages include a rigorous schedule of working full-time and attending school part-time for 3 to 4 years, making it difficult to give 100 percent to either endeavor. You may not get as much out of the classes and you may lack some focus at work. You will not get internships and you may not be able to develop deep networking relationships with fellow students. You also are not able to join many, if any, leadership-strengthening opportunities such as clubs and extracurricular activities.
The full-time program is usually geared towards those with 2 to 6 years of work experience, those who may want to switch careers all together, or who had no management training in undergrad. This program is geared toward those who are willing to leave their job and often relocate. There are advantages and disadvantages to the full-time program as well.
The benefits, however, can be enormous as there are so many opportunities for learning, engaging, networking and basically immersing yourself in the academic experience. You will receive internships, opportunities to travel abroad, intense career services, and you will be able to join clubs and extracurricular activities. You will be able to focus completely on your studies and make lifelong friends and contacts.
Some of the drawbacks might include that you will be investing a lot of money into your education while at the same time foregoing earning any income. You will most likely be relocating and there is always the risk that the investment might not pay off.
The application process is really similar for both. They are both very thorough and extensive processes. Part-time programs can be a little less competitive, but really not by much.