Part-time MBA program

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Part-time MBA program

by yev23 » Tue Mar 04, 2008 11:30 am
Hello Stacy,

First, a quick background info. I possess B.Sc. in Biology and M.A. in Computer Science from Brandeis University. I started my career at a educational software company, quickly rising to position of Technical Project Manager. At the same time I became part-owner of family's start-up, and this year we've secured granting of patent from USPTO. Currently I work at a large publishing company, where I am not sufficiently challenged and where my drive and ambitions do not align with the company's structure and latest developments.

Thus I've started studying for GMAT as of last October/November, and I plan to take it on May 3rd. I plan to apply to part-time programs at Babson, Boston College, Boston University, and NYU Stern weekends-only program, to start this fall 2008. I plan to hit 700+ on the test.

The question is, should I still strive for part-time MBA or if I score really well, should I wait and apply for full-time MBA? After conducting the cost/benefit analysis, I've arrived to the conclusion that financially part-time MBA is far better option for me. However, I am concerned re: employment opportunities, as I am strongly considering switching the industries - I'd like to get into financial sector or consulting sector before I start my own company.

Thanks,
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by Lisa Anderson » Tue Mar 04, 2008 11:43 am
Dear yev23:

I generally advise people to select the type of MBA program based on what they want to get out of it. The experience of a part-time program is quite different than what folks experience in the traditional full-time program. If you truly want to make a career change, then a full-time program is a better option. It will allow you to do an internship and have the time to spend on your job search. Searching for a new job in the same field while working is difficult enough; searching for a new job in a different field while working and going to school is a huge undertaking. That is not to say part-time programs are bad and you won't be able to switch careers--there are great programs from which many people benefit. But you must evaluate why you want your MBA and what you want to get out of it when determining what type of program to apply to.

Pursuing a MBA is an investment in yourself (not a cost) and you should choose wisely. People are always surprised when they do a thorough financial analysis that the amount of loans they will take out is not significantly different for a part-time versus full-time program, especially if you have a strong profile that might result in scholarship funds.

Evaluate these programs carefully against what you want from a program and what you want to do post-MBA. You are worth the investment!

Good luck,
Lisa
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by yev23 » Tue Mar 04, 2008 11:54 am
Thanks, Stacy! Indeed, if I did not have plenty of school loans already, I would love to go for full-time MBA... But right now that's not feasible. Moreover, I am searching for a job right now as an analyst or comparable, preferably at a company that would be willing to pay at least part of my MBA.

In the perfect world, I'd go for full-time MBA, yes! :)

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by gmat765 » Wed Apr 16, 2008 5:56 pm
Good luck, yev23