I was recently asked by one of our readers in response to the article Should I apply for MS or MBA after B.Tech or B.S, if he should pursue MBA full time or part time. He already has an MS from US University. Based on my experience doing MBA full time and part time, I can list few of the advantages of full time MBA.
MBA Experience at US University:
Studying MBA at US University can be quite an experience if you do it the right way. Going to school for getting an MBA just for the sake of degree or knowledge is not of great value when you step into the real world of business. The value in MBA is all about building your leadership skills, networking, understanding how the system works and honing many communication and personality skills that you would not worry about as a regular MS graduate. The point is, MBA is not a technical degree like MS and just getting expertise in the subject will not suffice.
Part time MBA vs Full time MBA ?
One of the biggest challenges of part time MBA is balancing work and your education. You are trying to juggle two balls : work and education. It can be very hard to balance both and do justice to both, one takes over other and you have to constantly keep up with them. In act of balancing, you have to lose some things. For instance, you may have to miss an awesome conference or training related to work if you have MBA finals that week or you may have to miss on a nice keynote speech by successful MBA alumni if you have work commitment at the same time. There are positives and negatives to both. But, if you really want to have the real MBA Experience, it is wise to chose full time MBA. Check out the advantages below.
5 Advantages of doing MBA full time over Part time MBA :
Student Orgs and Leadership Development : As I mentioned the importance of student orgs in 8 reasons why you should join a Student Org, it is critical for you as a Business Graduate to hone your leadership skills. To be a successful manager, you need to know how to work with or manage people. Student Orgs give you that opportunity. If you are president of a Student Org, you will get that experience. You can be in Student Government and get to know how politics work. To be part of a student org in an executive member role, you need time and commitment. Full time MBA provides you with enough time to focus and increase those skills.
More focus on MBA Course related projects : When I was working part time and studying MBA, I had less time to focus on good projects, I could not put enough of my time to apply the course material to something that I really wanted to do. With full time MBA, you have that time to apply the class concepts to real time projects that you want to do. You have time to focus on the real projects that interest you. It can be your own business plan or marketing plan.
Networking : MBA is all about networking. How many people you know and how many contacts you have built. The only way to network with people is to meet more people more times and get to know them on a personal level. With full time MBA, you have time to attend a variety of events in the University and outside of university. The biggest thing is you have time to do all these. You can attend professional organizations meetings or events for orgs like Collegiate Entrepreneurs Organizations, American Accounting Association, American Marketing Association, etc.
Business Plan Competitions & National Conferences: There are a variety of events that happen in the MBA or Business Education world. There are so many national conferences, regional conferences for professional organizations. Apart from the conferences, there are so many competitions related to Business that help foster innovation and help you create your own business plan. The point is not about winning, it is about experience ! If you have to attend these conferences and also participate in Competitions, you need time and you can only have that time if you are full time MBA student
Study Abroad Opportunities: There are numerous opportunities for getting international exposure in MBA. You can take summer classes in different country or sometimes, you can do an internship in another country or there are international study trips. There are a variety of options. Imagine, you working …will your boss let you take 30 days or longer vacation? If you are full time MBA student, you can utilize these good opportunities and get more exposure in the international business arena.
I can write more advantages, but according to me, these 5 advantages stand out and are important to make the decision. If you have a choice to do Full time MBA, personally I would recommend considering that option. It is so much rewarding and you will cherish your MBA experience!
Can you think of any other significant Advantage of Full time MBA over Part time MBA ?