A Master of Business Administration (MBA) is an internationally recognized degree that will help you learn skills required to build a career in business management. MBA plays an important role for an individual in climbing the corporate ladder. Graduates from MBA programs typically earn higher salaries, and, as a result, the top business schools are highly competitive.
In general, there are two routes a prospective student can take when pursuing an MBA: a full-time or a part-time program. Although both options will lead to a degree, there are trade-offs that should be taken into consideration when choosing between the two.
Ask yourself?
In both the course types time is not the only consideration. There are other factors too. Initially question yourself following and try to get its answers
- Why do I want to pursue MBA? To change career or to climb the ladder in the industry you are already working.
- What is my financial condition?
- How much network access do I have in this field?
- What is my marital status?
- Do I want to move somewhere else?
Once you are clear with the answers of these questions you can easily choose the what is best for you.
Similarities
Let’s make it very clear that there not at all difference in the curriculum and academics of part time and full time MBA. There will be no compromise with the course and only method of teaching will differ.
Prerequisites for application
An absolute prerequisite when applying for a part-time MBA is five years of work experience, unlike a 1 year full-time MBA in India, where there is no such stipulated mandate.
Entrance tests for full-time MBAs are extremely competitive and high scores will increase your eligibility. For aspirants who miss making the cut, a part-time MBA can be a realistic option.
Financial Outlook
Obviously, there is a difference in the expenses and fees of part time and full-time MBA.
Part-time MBA do offer flexibility in fees paying whereas in full-time MBA one has to pay full fees in one go. In a part-time MBA you may also get sponsorship from your employer.
Network Build Up
In management world how strong and well connected networks you possess matters a lot. part-time MBA do not provides you much opportunity in building networks but full-time MBA allows you to create a network well.
Competition
While pursuing full-time MBA one will be able to sense competitive environment and there will be an environment of competition always.
On other end in part time MBA one may lack with the competitive feeling. Sometimes due to responsibilities many do also drop part-time MBAs.
Time management
Since many working professionals opt for a part-time MBA course, its timings are more flexible as opposed to a full-time one. Distance-learning programs and the availability of online resources allow students to study at their convenience.
However, a part-time MBA could mean the occasional sacrifice either in your work or study spheres when work-related deadlines and events overlap. A full-time MBA, on the other hand, will allow you to focus on the task at hand without distractions.
While choosing a course, whether one year MBA or two, students should factor in the pros and cons of all programs. It is also important to take into consideration their own grades and ability to manage time.
Conclusion
Deciding between a full-time or a part-time MBA program is a matter of weighing the costs and benefits each option has to offer. Full-time MBAs are ideal for new graduates who can afford to delay working, but they can expect to land better paying and higher-ranking jobs than those without an MBA. Working individuals who are eager to enhance their existing career path might choose a part-time MBA program in order to remain employed while studying. For those in managerial or leadership roles, the executive MBA might be a more suitable part-time option.
