4 Reasons to Consider a Part-Time MBA

scottbloomdecisionsWith the decision to pursue one’s MBA comes the equally large decision as to whether or not one should attend business school part-time or full-time.

While the majority of MBA applicants each year pursue the more traditional full-time MBA programs, there are many reasons that why a part-time MBA might be a better fit for you:

1) You Have a Below-Average Undergraduate Record
While your college record will, of course, still considered by part-time MBA programs, these types of programs tend to be more forgiving of poor college grades – especially if you attended college many years ago and you have had a lot of professional successes since then.

2) You Are a Career Enhancer
Are you looking to move ahead in your current industry or even within your company? Consider continuing to gain that work experience (and the salary and benefits that come with it) while attending a part-time MBA program. Additionally, many companies will offer continuing education benefits, so check with your current company to see if this is something they will provide.

3) You Work in a Family Business or Own Your Own Business
Rather than having to choose between ditching your family obligations or selling your business and attending school, why not do both? A part-time MBA program is great for those who want to continue working while they learn.

4) You Have Many Years of Work Experience
While part-time MBA students, on average, have only two more years of work experience than their full-time MBA counterparts, the spread tends to be much greater – with applicants’ experience ranging from two to twenty years. If you have a lot of work experience, you may find yourself alongside peers with more similar responsibilities and tenure in a part-time program than you would in a full-time classroom.

If any of the above sound like you, then you may find more success in a part-time MBA program than you would attending business school full time.

Applying to business school? Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or take our free MBA Admissions Profile Evaluation for personalized advice for your unique application situation! As always, be sure to find us on Facebook, YouTube, Google+ and Twitter.

Nita Losoponkul, a Veritas Prep consultant for UCLA, received her undergraduate degree in Engineering from Caltech and went from engineering to operations to global marketing to education management/non-profit. Her non-traditional background allows her to advise students from many areas of study, and she has successfully helped low GPA students get admitted into UCLA. 

Is an EMBA or PTMBA Right for You?

Part Time or Full Time MBAMany candidates struggle with deciding on which MBA format is a better fit for their career development needs. This decision can become even more complicated when factoring in choosing between part-time learning options like an Executive MBA (EMBA) program or a Part-Time MBA (PTMBA) program.

Both of these will allow you to simultaneously continue your professional career while pursuing your MBA, however, these programs generally attract different types of students and offer somewhat different benefits than traditional MBAs.

Work Experience
The “E” in EMBA says it all – applicants to this program are typically more senior in their organization and with more lengthy work experience than their full-time and part-time MBA counterparts, so in general, there is a significant age and experience difference between the three program types. Coupled with the seniority EMBA classmates and the quality of the interactions, this makes EMBA programs a big draw for many older applicants.

Cost
The cost of an EMBA can be significantly less expensive than a PTMBA. Part of this stems from the fact that most applicants will have the tab picked up by their employer. Now this is common as well for many PTMBA students but more common for EMBAs. The reduced price tag can be a big draw for those paying out of pocket for their MBA.

Resources
Schools pull out all the stops to support EMBA programs, which makes sense given the hefty price tag. These programs will offer the best professors, learning spaces, dining halls, and materials. Which is contrary to the PTMBA program which generally offers similar resources as their FT counter parts.

Network
The network you will build in an executive program also will be different. With part time programs the student community is fairly transient given the students are splitting their time between work and school. The residential component of the EMBA program allows students to be more realistic about dedicating their efforts to the program for the days they are on campus. This better allows students to bond and get to know their fellow classmates given this additional time for greater interaction. Also, this network is obviously of people who are very senior in their organization, which makes for great collaborative opportunities outside of the classroom.

As always research is the key so go beyond secondary research and connect with current students and admission officers to get a feel for what program best addresses your development needs.

Applying to business school? Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or take our free MBA Admissions Profile Evaluation for personalized advice for your unique application situation! As always, be sure to find us on Facebook, YouTube, Google+ and Twitter.

Dozie A. is a Veritas Prep Head Consultant for the Kellogg School of Management at Northwestern University. His specialties include consulting, marketing, and low GPA/GMAT applicants. You can find more of his articles here.

New GMAC Survey Explores Women’s Interest in MBA Programs

According to a recently released survey by the Graduate Management Admission Council (GMAC), the growth in applications from female applicants continues to be strong.

In this year’s survey, 65% of full-time MBA programs said application volume from women grow vs. last year, compared to 57% of programs saying this in 2007. That growth was especially strong in several core disciplines, including part-time master’s programs in accounting and master’s programs in finance.

The gender gap in graduate management education still remains, however. Men outnumbers women by more than two to one in applications to executive MBA programs, and women only represented approximately approximately 30% applications to full-time, part-time programs, and accelerated MBA programs. And while the overall number of full-time MBA applications grew 10% in the past year, the number of applications from women only grew by 8.5%.

Interestingly, while the average number of applications to part-time MBA programs overall was flat vs. last year, the average number of applications to part-time programs from women grew by more than 13%. Now, more than 40% of applications to part-time MBA programs come from women. These self-paced programs are more flexible, which likely drives their appeal for women seeking to get back into the workforce or trying to manage their work/life balance.

Also, many of these programs have been making an increased effort to reach out to women over the past several years. It looks like it’s starting to pay off, which we’re glad to see!