MBA: Part Time or Full Time, what should your choice be?

While it is important to make up one’s mind about the subject matter one is interested in, the reputation of the institution one is enrolling in, the faculty the institute offers, job prospects and industry perception of the institution etc. One must also ascertain whether they want to do a full time MBA or a part time (executive) MBA. Executive MBA programmes are now being offered by almost all institutions today. Are they for everyone? What are the major differences between the two? And most importantly what should one choose?

The answer to these questions lies in first understanding the nature of the two programmes offered. Some of the salient features of both types of MBA are listed below.

Part Time MBA	Full Time MBA
Can be pursued while holding a steady job. Hence it is also called an Executive MBA.	Is an extensive, exhaustive course that does not allow a student to pursue a job while pursuing the course.
Classes are often conducted in the evenings with a more rigorous lecture schedule on the weekends in order to accommodate working students schedule.	Classes are conducted throughout the day, like any other post graduate course, with one weekly off. Lectures are normally spaced out in order to give students the time to prepare for projects, assignments and presentations.
Peer to peer learning is a lot higher in the Executive MBA, considering that most students bring with them certain learnings gleaned from their day jobs which are then shared amongst peers.	Peer to peer learning is present, but not as high as that in an Executive MBA, considering that most students are freshers and inexperienced in the ways of corporate life.
Greater emphasis is on re-learning and fine tuning existing skill sets in order to forward one’s career.	Greater emphasis is on understanding business and acquiring or determining one’s skill sets in order to secure a job and begin one’s career.
The fee structure of a part time MBA is more flexible and structured in order to suit the paying capability of the student. It is generally lower than that of a full time MBA.	Fees are generally higher than a part time MBA simply because of the time investment of the faculty, and the fact that is a postgraduate degree.

Advantages of Part Time MBA:

Saves on time: A part time MBA is generally a short term course where a student isn’t expected to invest a lot of his working time. Considering that the curriculum is tailored to suit the time schedule of a working professional, a part time MBA is a time effective option.

Cheaper than a Full Time MBA: Cost is an important consideration when planning a postgraduate course. Another plus of the part time MBA is that is significantly cheaper than the full time variant.

Real world experience: Working professionals come from the ‘real’ world, in the sense that they are already exposed to the realities of business. A part time MBA focuses on enhancing that real world experience and helps the working student to tackle these situations better.

Great tool in income enhancement: Most executive MBA students take up this option simply to forward their careers. And according to the data collected for a 2010 peer-reviewed study published in the Journal of Education for Business, Mark Johnston & Keith Whittingham, found that part-time MBA graduates achieved a median post-MBA pay raise at graduation of 41% over their pre-MBA pay, and by the fifth year post-MBA their pay had gone up another 56%.

Full Time MBA: Advantages

Exhaustive Curriculum: Compared to the short duration of the Executive MBA, a full time MBA with its curriculum spread out over two years affords students the chance to study the course material, in-depth and with greater focus.

Job Assistance: Most institutions of repute have promising candidates picked off campus thanks to the job cells and on campus interviews.

Preferred by recruiters: Whether it is a matter of general perception or there’s any truth to it is debatable, but on a whole, students who pursue a full time MBA programme are looked at in a more favourable light vis-a-vis their Executive MBA counterparts when it comes to interviews.

Better Faculty: On an average, a full time MBA course has a better balance of theoretical and industry related faculty. This gives full time MBA students a better balance of real world and theoretical exposure.

Based on the above comparisons, your conundrum about full or part time MBA should be an easy one to navigate through.

Sources:

http://www.blog.epravesh.com/?p=726

http://www.businessweek.com/articles/2012-04-18/full-time-or-part-time-mba-a-primer

http://www.forbes.com/sites/ronaldyeaple/2012/06/04/does-it-pay-to-earn-a-part-time-mba/