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Part-Time MBA vs Full-Time MBA: Which is Better?

Jun 7, 2016 16:15 IST
    Part-Time MBA vs Full-Time MBA: Which is Better?
    Part-Time MBA vs Full-Time MBA: Which is Better?

    It was a bright sunny morning and Rohan was out for his work. He boarded the train for his office. In a while, while listening to songs on his playlist, a question flashed through his mind.

    This thought was intriguing enough for him. He wondered whether he is satisfied with his job and the growth prospects which it offers. He has already gained enough experience in the MNC for which he is working but nonetheless, he has always felt an urge to pursue MBA.

    He feels that it might fast track the pace of his career growth. Like other MBA Aspirants, Rohan is also cautious about his career growth in the near future.

    But the real question that is confronting them whether he should pursue part time MBA or a Regular MBA degree.

    In this article we will be discussing the different aspects of Part-time MBA and Full-time MBA. We aim to present a comparative analysis on both types of MBA so that you can decide which will MBA is well suited for your career development.

    After a certain period of time, Professionals who are working in several profiles expect a jump in their careers and the best way to boost your career growth is through an MBA.

    Also Read: Why to do an MBA: Top 3 Reasons

    To achieve that boost you have two choices ­… “Part­-time MBA or Full­-time MBA”.

    A Part­-time MBA would mean that you can keep earning your money without having any break in your career graph but you may have to miss out on networking part. Whereas a Full time MBA means a full devotion to your MBA education where there will be equal parts of education and networking.

    If you are going for a full time MBA then you will not be able to earn much money and if you are going for a Part-­time MBA then you will not have a social life between your job and education.

    Also Read: Online MBA vs. Regular MBA

    I am sure, that these questions must have provoked a wave of thoughts and queries in your otherwise calm and composed mind. The questions and doubts hovering around you coube be like:

    1. How much work pressure can you absorb?
    2. How will you juggle between your family and financial situation?
    3. What are you planning to achieve with your MBA education? And many more. . . .

    Let's have a closer look at each of these programs in order to answer the strings of questions!!

    Full­time/Regular MBA program are those programs that require your complete attention, presence and time. Rest of the programs can be categorized as Part-time MBA, though they have different names to their credit as Executive MBA, Online­ MBA, Distance MBA and Part­-time MBA.

    To help you choose between Part-time MBA and Full-time MBA, we have a snapshot of differences on key ten factors:

    Basis

    Full-time MB

    Part-time MBA

    Admission

    A Full-time MBA program has a more lengthy and wholesome process. There is an in-depth analysis of the performance of the students in the evaluation process of entrance exam, group discussion and interview as there is more competition for Full-time MBA program.

    The admission process is more or less on the same lines of Full-time MBA but interview is not mandatory to get admission in Part-time MBA. The selection procedure varies with different institutes as some may include interviews in their evaluation process

    Competition

    There is a more stiff competition for getting admissions into top rated b-schools as it opens the door to top rungs of career ladder and fetches hefty pay packages. You need to score really very good percentile scores in entrance exams like CAT/XAT/CMAT/GMAT to grab a seat in A+ rated b-schools like FMS, IIMS etc.

    To get into the Part-time MBA program you are not required to score great scores in entrance exams. With an average score you can get yourself enrolled into this program. But, Make sure that you get enrolled in some A-grade college as Part-time MBA is not seen in the same light as Full-time MBA unless and until you are a working professional.

    Flexibility

    You need to give full two years of your life to this program as you need to devote all your resources to Full-time MBA so that you can finally get the hang of business strategies and corporate policies.

     

    Flexibility is the buzzword that is associated with Part-time MBA. You can do weekend classes, weeklong classes with a break, weekday classes as both programs nearly follow same curriculum. The benefit of doing Part-time MBA is that students can work and study simultaneously as the classes for these programs takes place after office hours on weekends like Saturdays and Sundays. Not only this, Students can also fix their dates of their exams. So much of liberty students enjoy with Part-time MBA.

    Career

    It is an ideal option for those who want to switch their career fields and want to fast track their growth professionally. For fresher and candidates with less than 2 years of experience, a Full-time MBA is an ideal option

    Professionals with more than 3 years of experience can go for Part-time MBA as it demands lesser time and do not interrupt in their work. New skills can be developed without disturbing your present job and can enhance your present knowledge base

    Learning

    Students of this program spend most of their time together in classes and campuses where their biggest source of learning lies. This program teaches students how to tackle challenges of doing business in dynamic corporate world of various countries. Peer to peer learning happens at all levels of Full-time MBA which comes with the greater diversity in the class

    Peer to peer learning occurs at the functional level and diversity of the class is not guaranteed as Part-time MBA receives fewer applications

    Scholarships

    Scholarships are awarded by Institutes and are based on merit or need of the students. In general most business schools do not offer financial assistance to international students as they expect the students to pay for their MBA programs.

    There are no as such scholarships available under Part-time MBA but if your employer reimburses the expenses of your tution fee, Part-time MBA could be an ideal choice for you

    Internship

    Internship is an integral part of Full-time MBA as it let students to learn from their mistakes that they often do in their internships and gain valuable experience out these internships

    Most of the b-schools offering Part-time MBA programs do not offer internships.

    On the Job Learning

    Students can apply their classroom concepts in their internships but need to wait for one year before they can apply their knowledge on business problems. This gap of one year may diminish their recall of the business fundamentals.

    Students have an upper hand in incorporating real-life situations and problems into the classroom where immediate solutions to these problems could be found.

    Students can also apply theoretical knowledge of classroom in their organizations and can notice their effects then and there only. By applying their Class room learning they can have a deeper learning of business concepts.

    Dynamics of Markets

     

    It is a fixed 2 years program which can relate to existing market and business conditions.

     

    Many Part-time MBA programs can be completed in 3 years which can be stretched upto 5 years. As a result by the time you complete it, your targeted area of field may look less attractive over this period of 5 years. Plus, a Part-time MBA curriculum may look different from the Full-time MBA curriculum and may not relate to the current market

    Recruitment & Employment

    Almost all b-schools offer campus recruitment and do their best in attracting big companies to visit campus and hire students. A lot of time and resources are spent on students to make them employable.

    Recruitment and employment do not hold that much significance with the b-schools offering this program as this program is generally taken by working professionals who are already employed with some organization

    Read Also: A comparative analysis of Regular MBA vs. Executive MBA

    Top 10 Institutes Offering Part-Time MBA

    Below is a list of b-schools that also offer Part-time MBA besides offering Full-time MBA for working professionals:

    S.No.

    Name of the Institute

    Website

    1

    FMS, Delhi

    www.fms.edu

    2

    Fortune Institute of International Business

    www.fiib.edu.in

    3

    Birla Institute of Management Technology, Delhi

    www.bimtech.ac.in

    4

    Indian Institute of Foreign Trade, Delhi

    www.iift.edu

    5

    Fore School of Management, Delhi

    www.fsm.ac.in

    6

    Institute of Management Technology, Ghaziabad

    www.imt.edu

    7

    Jamnalal Bajaj Institute of Management Studies, Mumbai

    www.jbims.edu

    8

    Narsee Monjee Institute of Management Studies, Mumbai

    www.nmims.edu

    9

    International Management Institute, Delhi

    www.imi.edu

    10

    Lal Bahadur Shashtri Institute of Management, Delhi

    www.lbsim.ac.in

    Top 10 Institutes Offering Full-Time MBA

    Below is a list of b-schools that also offer Full-time MBA besides offering Full-time MBA for working professionals:

    S.No.

    Name of the Institute

    Website

    1

    Indian Institute of Management, Ahmedabad

    www.iimahd.ernet.in

    2

    Indian Institute of Management, Bangalore

    www.iimb.ernet.in/

    3

    Indian Institute of Management, Lucknow

    www.iiml.ac.in/

    4

    Indian Institute of Management, Kozhikode

    https://www.iimk.ac.in/

    5

    Management Development Institute, Gurgaon

    www.mdi.ac.in/

    6

    FMS, Delhi

    www.fms.edu

    7

    IIFT Delhi

    www.iift.edu/

    8

    SP Jain Institute of Management and Research, Mumbai

    www.spjimr.org/

    9

    Xavier Institute of Management, Bhubaneswar

    www.ximb.ac.in/

    10

    Jamnalal Bajaj Institute of Management Studies, Mumbai

    www.jbims.edu

    CONCLUSION

    It is at your discretion to choose between Part-time MBA and Full-time MBA and the decision boils down to your requirements and circumstances.

    If you are a working professional and have more than 3-5 years of experience then you should go for Part-time MBA to excel in your current organization. On the other hand if you are looking for switching your career and have less than 3 years of experience then Full-time MBA is ideal one for you.

    Part-time MBA may not be as attractive as Full-time MBA but it can be fruitful in the long run. Applicability is another factor which makes Part-time MBA good for professionals as they can apply their theoretical knowledge at their workplace immediately which is not there with Full-time MBA.

    So each course has its own merits and demerits!!

    We hope that you are now in a position to take a right decision for the betterment of your career.

    We wish you best of luck for your future!!

    For more MBA Career related updates, keep visiting jagranjosh.com

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