Does it really pay to learn while you earn?

The job market as it stands today is a competitive and often cutthroat place. With younger, hungrier and often times better qualified, if inexperienced candidates competing for the same assignments as you are, it might not be a bad idea to enhance your own skillset with an MBA, to give yourself a competitive edge, with your level of experience. This is where a part-time MBA can really add value to your professional life. But before you go hunting for such a course you must consider a few pros and cons as it were.

Questions you need to ask yourself:

Mental preparedness: Often times working professionals become set in their ways and view an additional course as a waste of their time. The question of mental preparedness is an important one, do you think you will be able to adjust to a new environment? Do you feel like the course that you seek to undertake will add to your skillset or just be an embellishment on your CV? Do you think that this will be worth the time investment you make? After all, a 3 year, part time executive MBA is a significant time investment on your part. If you are mentally prepared, by all means enrol for such a course.

Attitude: One of the things that you will need to prepare yourself with is your attitude. Just because you think you may have all the experience in the world, don’t let it come in the way of you learning. A part time MBA will seek to expand your mind and this will take an open minded approach on your part. Don’t come from a place of knowing it all, instead be open and willing to learn.

Finance: While an executive MBA isn’t as expensive as a full time one, the question of finance is still a relevant one. Some employers have tie-ups with educational institutions and thus they pay a part of the fees, making the MBA course an attractive avenue for employees. If such a tie-up does not exist, you could still pay for the course yourself, once you’ve consulted with your family about outgoings and seeking advice from the institute about flexi-payments.

The advantages of a part-time/executive MBA:

An MBA, be it a full time or an executive course is still a valuable seal to have on your CV. To the working professional even more so, as it, along with your already considerable experience will put you in the driver’s seat for better job and career advancements.

Experientially focused curriculum: The curriculum at a quality part-time MBA is more set in practical, experiential focused manner. While we cannot underrate the importance of book knowledge, but the curriculum for the more experienced professional is more about real world application of knowledge.

Higher Likelihood of Tuition Reimbursement:You stand a better chance of getting financial support from your employer if you enroll in a part time MBA than a full time one. Some larger companies sponsor their employees' education entirely, while others provide aid in the form of subsidized loans. After all, you'll apply what you learn in school in your job, day in and day out. And by the end of the program, you'll have a new credential and become more valuable to your company.

Focus on Education, Not Networking:A part time MBA is geared toward education. If you have an established career and are looking to accelerate your trajectory with limited disruption, a part time program is the perfect solution. The downside is that virtually all part time students hold jobs and have little time to devote to socializing.

Changing Careers: That's just what many part-time MBA graduates have done: used their degrees to find the career path that's right for them. Of those contacted by Bloomberg Businessweek, some have more money than before, others not so much. None regret having made a sizable investment in business education, and all say their degrees have resulted in significant advantages—giving all three the tools they needed to advance in their careers, and ultimately the confidence to strike out on their own.