If you’re fresh out of undergrad and ready to get your MBA, a full-time program can make a lot of sense. You’re probably young, have more time, less commitments, and a lot of flexibility.
But what happens when you’ve been out of school for a while and have a full-time job and a family to support? Or you’re already on your desired career path, and just need an MBA to move forward? Full-time school might not make as much sense for you—instead, you may want to consider a part-time MBA program.
Here are a few reasons why.
Advantages Of Pursuing A Part-Time MBA
You’ll have a flexible school schedule.
One of the most common reasons students choose a part-time MBA program is for a flexible school schedule. Part-time programs are ideally suited for people who have family obligations or full-time jobs, as they offer evening or weekend classes, as well as hybrid or online course options that allow you to complete the program at your own pace.
So if you like your current job, or see yourself one day moving up in the company, you can get your MBA while keeping your current job and staying on track with your career goals. And if you are married or have children, you can work around their schedule while still keeping some time set aside for them. Work-life balance in graduate school can be achieved with a part-time program since you set the schedule in most cases.
Your work will help you with your studies (and vice versa).
One of the biggest benefits part-time MBA programs offer is the ability to work while getting your degree. Many students who choose to attend graduate school do so after working for a few years, so they want to better their career opportunities while still remaining employed. Working while getting an MBA (even if it’s a part-time program) is a huge commitment, but doing both simultaneously can greatly benefit you at work and in your classes.
Working while attending school can give you a solid foundation of real-life experiences to build upon in the classroom. You can also glean off others’ knowledge, as there are typically more diverse stages of life found in part-time MBA classes—working students can often be older, have families, and have more life experience. Networking opportunities increase, because working students have more professional connections, and everyone benefits from the authentic case studies that can be utilized for class projects.
It’s also easy to connect and apply what you’ve learned in school to your current professional work, giving you new skills and renewing your passion for the particular path you’re on. You’re able to identify and connect broader research and trends from your graduate studies to your day-to-day work and strategic planning, which is helpful to both you and your employer.
You could get financial reimbursement.
Another benefit to part-time MBAs and the ability to work during school is that you may get the opportunity for financial reimbursement. Companies often support their employees’ desire to further their career by paying for some (or all) of an employee’s tuition. Employers are usually willing to do whatever it takes to make sure they don’t lose great employees, so they’ll offer to give aid to students who want to complete their degree and remain with the company for a foreseeable future after they graduate.
Disadvantages Of Pursuing A Part-Time MBA
Like every other program, part-time MBAs have a few drawbacks to consider. One is that the program will take longer. When you’re working, focusing on a family, and getting your degree, the entire process will end up moving a little slower than a full-time program would.
Another disadvantage some students find is that part-time programs can end up being just as expensive, if not more so, than full-time programs because they take longer. Although this may be the case for some, working during school keeps the income flowing—as opposed to a dry spell that comes with a full-time program—so the opportunity cost of school is lower. But because part-time MBA programs are just as rigorous as full-time, it can often feel like you’re juggling two full-time jobs. This is important to consider as you make your final decision.
Is A Part-Time MBA The Best Option For You?
As you consider getting an MBA, think about your current lifestyle. If you have a full-time job, a family, or other obligations that take up a lot of your time, a part-time MBA might be your best option. Remember, the decision is ultimately up to you, so choose whatever option will help you reach your goals.