Master of Business Administration has been a popular course of study since the 19th century and still continues to stay on the top. The number of students enrolling at business schools in U.S.A has been steadily increasing every year and different types of MBAs are pursued with regard to the specific sectors of management. Job opportunities are excellent in this field and available all over the world. MBAs are also offered part-time and the real question here is whether it is as useful or beneficial as compared to the full-time MBA.
FULL-TIME MBA VS PART-TIME MBA:
- A full-time MBA is generally conducted on an academic basis and is completed within a period of two years whereas a part-time MBA is generally conducted in the evenings or weekends and takes up to 3 years to complete.
- Full-time MBA programs are pursued by students who have the necessary time to sit in classes for the entire day whereas part-time MBAs are opted more by working professionals who only have time to study during the late evenings and weekends.
- The program in both types consists of various courses spanning the Analytical, Functional and Specialization sectors. It also involves courses specific to skills development ending with an internship or a project.
ADVANTAGES OF A PART-TIME MBA:
- Part-time MBA is generally pursued by people who are funding their own education. MBA programs can be quite expensive and working in a job that helps assisting in the cost of the course leaves no room for a full-time MBA.
- There are many excellent business schools offering the MBA program part-time with a standard that matches the full-time program. This makes the former an attractive option as it allows ample time for family, job as well as an MBA degree.
- Job security is another popular reason for part-time MBAs. It is always a safer option to have a job at hand for different reasons though ample opportunities are available after completing an MBA.
- Part-time MBA allows a theoretical knowledge along with the practical working environment paving a path for a successful career.
- Part-time MBA poses a good advantage in terms of work experience as the candidate does not need to let go of his job and his MBA degree will help strengthening his profile opening up abundant job opportunities.
- By successfully completing a part time MBA as a working professional, you will increase your chances of advancement at work.
DISADVANTAGES OF A PART-TIME MBA:
- The important topics and what needs to be known will be covered but an in-depth education and emphasis will not be received as in the case of a full-time MBA.
- Networking circumstances and obtaining contacts will require that extra endeavor than a full-time MBA program candidate.
- There will not be enough time to do a deep research or self study of a particular course during the program as it will already be quite hectic juggling between work and education.
- Development of many skills such as leadership qualities and management competency require a lot of time and dedication which can be completely reaped only through a full-time MBA.
- International experience is widely available in MBA programs through internships and exchange programs. Having a job means forgoing all these opportunities as such long vacations are generally impossible in a job sector.
An MBA degree, be it part-time or full-time is only a ladder to a successful career but reaching there and staying at the top depends upon the individual's capabilities. MBA helps in adding that boost to one's resume but success can be achieved only if one learns to make good use of the education and skills learnt.