For working professionals who cannot take time off work to attend full-time, there is the part-time MBA program. With the part-time MBA program, you can work full-time while attending MBA classes on days off or in the evenings. Many colleges and universities offer part-time as well as full-time MBA programs.
Advantages of a Part-time MBA
The part-time program is particularly appealing to people who wish to advance their existing career. They can also be advantageous for people who have already developed a network of business relationships that can facilitate a change of careers.
* Courses that are scheduled to take place before or after regular working hours.
* You can improve existing skills or develop new ones without impinging on your current job.
* Real-world situations and problems can be incorporated into the classroom environment where solutions can be explored that could be implemented in real life.
* Tuition assistance and student loans may be available.
* If tuition reimbursement is offered by your employer, part-time could be an ideal choice.
* Having the cost of schooling spread out over a longer program length lessens the financial strain on those students that prefer not to incur additional debt or who need to maintain an income while attending school.
If you are unable to relocate, a part-time MBA program may offer additional flexibility. A long commute to classes may be more workable for part-time school once or twice a week, whereas it would be taxing on a daily basis.
It's sad but true -- a part-time MBA just does not command the same status as a full-time one in this country. A host of extremely respected institutes offer one-, two- and three-year part-time MBA diplomas and degrees. Yet, the students who opt for these courses do not emerge with the same halo as those who take up the two-year full-time post-graduate programmes.
The first cruel fact you have to accept if you're thinking of a part-time MBA is this: it is unlikely to swiftly and painlessly enhance your immediate job prospects. There is no lucrative placement offer waiting for you, like the proverbial 'pot of gold 'at the end of the rainbow. And this is true, even at the brand name institutes.
The B-schools justify the lack of placement opportunities by pointing out that those pursuing the part-time MBA already have jobs. In fact, the pre-requisite for practically all part-time MBA courses is two-three years of work experience, preferably in an executive or supervisory capacity. Part-time MBAs are thus positioned as career-enhancement programmes designed to make the participant more effective in his or her current organisation.