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Why part-time MBA is more worth than a full-time MBA?


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This is a long lasting debate. Some people prefer to do a full-time MBA as compared to a part-time MBA. Though you can’t say which one is better over another with utmost certainty, I would recommend part-time MBA for working professionals as compared to a full-time MBA. Obviously, there are various reasons why you want to do a part-time MBA, but some of the primary reasons are as follows:

Cost savings: Unless you got accepted to an Ivey League University for your full-time MBA, I would recommend you to do your part-time MBA from some local University. It will save you some tremendous amount of money. Let’s say, if you were to do your full-time MBA from some University. In that case, you had to quit your job for couple of years. Let’s say, you are earning $50,000/year right now. That means, you are losing $100,000 in two years of your education period, because you won’t be working full-time during that time. In addition to your loss of income, you have to pay for the tuition from your own pocket, which might be anywhere between $50,000 to $200,000. In short, you would be losing on an average around $150,000 ($100,000 + $50,000) during these 2 years of your full-time MBA. Let’s say, you somehow magically find a job in this economy with your full-time MBA, which pays you $15,000 more than your previous salary, then also you will take at least 10-15 years to cover that cost. Isn’t that right?

Minimal risk: Other than the huge cost savings, part-time MBA comes with other additional advantages. And one of the most important advantage is – minimal risk. If you are a working professional, then chances are …… your current employer might be covering partial or full cost for the entire program. Thus, you don’t have to come up with the tuition amount from your pocket. Let’s say, you started your program and in the middle of it, you somehow didn’t end up liking it. In that case, you can just quit, since you haven’t invested much of your personal money in this initiative. In addition to this, you don’t have to spend much time studying for GMAT or GRE, since most of the part-time programs (like Harvard Extension School) offer few classes as Grad Special, and if you perform well in those classes then you get to enter in to the program without giving your standardize tests. This will ensure that you like the program before you actually get admitted in to one, unlike the full-time MBA program.

Understand the other side: When I first thought of doing my MBA, I wanted to do it to understand what my Boss does. Being from a technical background, I always had a problem understanding the strategic decisions taken by my company. I was much more involved in the technology as compared to the business behind it. My part-time MBA provided me with the opportunity to understand the business perspective better. I am not saying that I couldn’t have learned the same thing through full-time MBA, but if I were in the full-time MBA program, then I wouldn’t have the opportunity to connect this learning to the current work environment. Most of the times, I would learn something from my MBA classes, and I was able to directly apply that learning at my work place. And that has helped me retain approximately 60% of my concepts, which I wouldn’t have otherwise remembered due to lack of practice. And maybe, this is the key reason why one should prefer part-time MBA over full-time program.

I hope these tips will help to choose between full-time and part-time MBA program. Do you have any other reasons due to which you would prefer a part-time MBA program over a full-time option?

Thanks. – Bhavin Gandhi.

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The Best MBA Program in the World – UNR’s MBA


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Today, I was attending my last summer class in the UNR’s MBA program. During the last presentation of the class, I was lost in my own thoughts. I was thinking about – how much I learned from UNR’s MBA program. But before I talk about my amazing learning experience at UNR, I would like to ask you few questions. What exactly do you look for in an MBA program? Top notch education? Rate of return on your investment? Experienced classmates? Over all experience? Whatever may be the case, UNR will exceed all of your expectations.

The niche of this program is – its innovative courses, which helps them in creating the “Leaders of Tomorrow”. Courses like Entrepreneurship in today’s world, social media, personal branding, etc. are one of the best courses that I would recommend. For example: Dr. Bret teaches the course on Personal Branding. UNR is one of the fewest schools, offering this type of the course. In this course, we learn how to market ourselves. Especially in today’s world, it is becoming really important to have your Personal Brand, if you want to end up with good career options after graduation. No matter how much talented you are, if you can not put yourself out there, your knowledge will not be useful for your professional growth.

Overall, this program is outstanding. It is very challenging but extremely rewarding at the same time. Balancing school, work, and family has been one of the most difficult things for me to do in my life. But the rewards have been tremendous, the knowledge that I have gained here at University of Nevada, Reno (UNR) is priceless. Especially, the instructors were great business professionals, well-respected in their fields. I really enjoyed the fact that some of the professors were adjuncts and could bring in real-life experiences and their connections and networks to the school. It was incredibly interesting. Having access to such varied faculty members, who were always available by phone, e-mail, or in person – was a great help.

Business Week Ranking

UNR’s MBA is a phenomenal program and an investment. I’m tremendously glad that I made the decision to attend and recommend it highly to everyone who has considered it. I am a strong ambassador for the program because of its flexibility for working adults, strong core classwork, quality peers and diverse population. After all, Business Week and Princeton Review must have done some good research before naming this AACSB Accredited school, UNR’s College of Business, as one of the best Business School in the world.

 
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Posted by on August 12, 2010 in Leadership

 

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