Part-time MBA worth it?

i think it would be doable with work but definitely put time management at a premium. it would be 2 days of night classes a week plus the occasional long weekend session and they said to expect about 10-15 hours a week of outside the classroom time. firm would be paying a portion but not all of the cost, which is helpful. im really thinking that this would be worth it. the main reason im not strongly considering full time is BC of the lost income aspect of full time. the bulk of my family commitment at this point is bringing home the bacon

td12:

Is your firm paying?

This. And, what are your goals post MBA? Are you looking to stay at your current employer? If you are looking to move, you have to check if the part time program allows for OCRs. And Skinnayyy has a really good point too.

depends what you want to do i guess...but if the schools allow u to access recruiting then actually it doesnt even matter....because you will have access .U of Chi and Nwestern are pretty much top schools, so you doing a day program would 1) cost you over 100k out of pocket and 2) would cost your salary....i dont even think there is much thought that should go into this... get the mba if u want one.

Good post, all the positive attributes of part time and exec MBA programs are super evident, ESP re cash flow. What's not clear is the massive hate ft guys have inre to the above. More often than not ft ppl downplay part time based on the following: 1) prestige related notions 2) recruiting access 3) making monetizable friends/ contacts/networking 4) depth of content. I think the big issue is 1, and the one which has quantifiable merit as the most qualified candidates are perceived to want nothing but the highest accolades Which usually reside in ft programs. It's circular but is unfort reality. Since the big value add in MBA is the ppl you will meet and class discussions and immersion into projects, the prestige factor is somewhat important. 2) uve got covered 3) That said would I rather have a classroom full of execs who have built businesses and know what a cash flow statement is versus hardcore NGO who needs acctg 101 and I will venture to say that's much more prestigious regardless of what us news tells me. I would be surprised if you can truly monetize half of your ft friends anyways since half will go to quasi entry level jobs at ib, with the focus on stability and repaying debt- they unlikely afforded tuition given the job switch motivation to pursue the degree. 4) content - unclear from this post whether any content or Acccess to profs would be worse

I need a ft Chicago guy to come back and rip this thread up and provide merits of ft vs part time or exec

you dont get on campus recruiting for PT

Thanks for the responses. They're very helpful. Durban, to clarify about the P-T content, I know at UChicago the profs and classes are the same as F-T with a slight reduction in office hour availability.

What do want career-wise? It sounds like your intention is to use the MBA program to launch a new job search. If your intention is to look for a new job in a traditional MBA feeder career like investment banking or consulting, then you should target a full-time program. Those firms with traditional, formal on-campus recruiting programs make a big distinction between students in the part-time and full-time programs at Chicago, with many firms unwilling to give a serious look at part-time students. The school will tell you that you have full access to recruiting, and no firm will take an official stance that this is the case, but believe me when I tell you that it is.

There are a couple of major reasons for this:

• Because the part-time program is less selective, it doesn't serve as effective of a filter as the full-time program does, which is one biggest reasons these firms recruit at the top business schools. People on recruiting teams at these firms often view part-time students as people that were unable to get into a top full-time program. This is unfair, but it is true for a certain population of those part-time students that are pursuing a new career.

• Part-time students that are actively recruiting are, on average, much less polished than full-time students. This is something I saw as a student and continue to see as somebody that interviews and corresponds with students in both programs. It's also something that many of my friends have commented on as they've gone on campus to recruit. This is probably due in large part to the fact that the full-time program is geared towards preparing students for this process, and having an entire class around you that is preparing for recruiting and interviews is very helpful in developing and polishing your skills in this area.

That said, if you are going to be pursuing a career that will rely on you performing an off-campus search, the distinction between the two programs will be much smaller or non-existant -- and will depend entirely on the outlook of specific people you interview with. If you want to continue to work at a fund of funds then you'd probably be best off going the part-time route. There's no substitute for experience, and you're doing work while in school that is directly relevant to what you want to do in the future then that is likely to set you up for the next step of a career more effectively, than going back full time will.

A clear advantage with PT MBA is definitely the fact you continue to work (and make money) while attending school. This will be really useful if you are in a company or an industry that values an MBA and you don’t want to make a career shift. The value of the FT program is that you have complete unparalleled access to recruiters who are using the adcom’s selection process as a “filter” for job candidates. Even professional clubs are divided in this regard (FT professional clubs have better access to companies than PT). Stats wise, PT-ers look worse on paper and those programs are probably less competitive to get into. Depending on what you need (like a top 10 MBA on your resume but not a career switch) – then a PT may be for you. If you want to switch careers, FT would be easier (but a more competitive process).

If you have relevant skills/background, access to the right crowd (read NYU Stern) and the stamina to deal with networking/informationals etc. while you're studying and working at the same time- then of course it's doable... my 2 cents- I know someone who has done something similar to that- PM me, I can connect you guys. He was a Part-time Stern.

not likely

Curious as well...

From talking to part-timers at Booth, it's VERY unlikely. Banking and consulting are the two areas that go through a very structured recruiting process. They hire summer interns (part-timers at booth don't have access to ocr for internships) and then extend offers to a lot of them for full-time conversion. Given the rather rigid nature of this process, there simply is no room for part-timers. I have heard however of part-time students managing to get corporate finance jobs at F500 corporations, wealth management, and some other areas. But banking and consulting will be extremely difficult. Doing a part-time mba with that goal would be foolish.

definitely doable, definitely going to be a battle though. internships are crucial and really more important that the mba itself - maybe do part time on a full time basis and weasel your way into a legit internship

Do-able but not likely. One associate in my start class was a PT MBA. Not sure what the process was like for him, but he's the only one I've ever seen successful (and I've seen many try).

Are part time programs less selective?

I think it depends on where, geographically, you are applying. I know a few classmates, at a non-target, that were able to get into middle-market boutique IB through a part time MBA. One was an engineering undergrad, the other a collegiate athlete. However, I agree with the others that this probably isnt the best career path.

Thanks for all the replies !!! .. i am based in New Jersey/New York metro area and am targeting NYU PT program...

Well , I did my research on breaking into IB and know that full time is the best option... I applied this year and was interviewed/waitlisted in Ross, Kellogs and Duke - before being rejected from each one of them... I am an international student from one of the most oversubscribed applicant pools... I cannot try again as my 6 year work limit would be very close to my graduation date and even though I would graduate from a FT MBA , i wont get the Visa to work is US... And that would be a complete waste of 100K in education and over 200K in lost salary...

So the best option sounds like to go via PT MBA , network my ass off , and give my best shot. Being based in the New York would certainly help in networking and I can certainly get a 4-6 week break from my current job and can pursue internships ..

Just want to know if its worth all the effort or not before I sink 100K into this ??

Does anyone know if people from NYU PT ever broke into IB ??

1. The FTMBA hasn't sailed due to your age. You don't seem to be interested in it for other reasons, but don't let that be it.

2. You've provided a lot of detail, but this really boils down to whether or not people in PTMBA programs can break into consulting at a new firm. My limited first person experience with this is a no, only based on seeing 3 PTMBA students do first round interviews at Deloitte, and none of them advanced. If you're an optimist, you can view the fact that they got interviews as a positive sign.

3. In addition to listening to people here at WSO, I would talk to the career center at one of your targeted schools, and then a PTMBA who is actually going through recruiting in OCR. The CC should have some stats and examples of people who have done what you want, and the student can hopefully give you a non-BS answer about whether employers put up a wall when they see the PTMBA.

I think it is safe to say that you WILL need an advanced degree to break into consulting, especially if you're interested in an upper level firm. Do you know if your current Big 4 firm would entertain transferring you if you complete the PTMBA? That'd be the best way to avoid wiping the slate clean, as you put it.

Personally, I am risk averse and would take the well traveled FTMBA path here, since so much is on the line. Its only 18 months, and you can snag 20-30k in your summer internship so its not all expense. You'd really be giving up 15 months of income + cost of school. If its a bridge too far, consider T25 as opposed to MBA business schools ">M7. I can personally attest that you can get into consulting without going MBA business schools ">M7.

Ship has sailed? Lolwut?

You're 31, bro. Average age is 28-30. The ship has definitely not sailed.

If you want to get into consulting, you do NOT have to go to a top 5 school.

Just because I know about the state of Texas... Texas A&M has a Full time mba Program that

1. Ends in 1.5 years
2. Places in all the 2nd tier Consulting Firms
3. is Super Cheap... at MOST you'll spend 30k,
4. has a Tight Knit network.

Right outside of the top 25, but their placement rate is off the charts.. Upwards of 95%, with the other 5% starting their own business... So you know you'll get a gig.

What was your decision here? I'm 31 and in a similar boat.. job is fine but looking to take it to the next level. I'm studying for GMAT right now and looking at p/t programs in SoCal. My appetite for the debt burden is also quite small. Let me know if you want to connect and motivate one another.

What was your decision here? I'm 31 and in a similar boat.. job is fine but looking to take it to the next level. I'm studying for GMAT right now and looking at p/t programs in SoCal. My appetite for the debt burden is also quite small. Let me know if you want to connect and motivate one another.

also keep in mind that many MBA programs do not offer OCR for part timers

Deloitte S&O pays 2nd year tuition for summer interns at MBA level. 85% of summer interns get return offer. Accenture is same deal, although I'm not sure of the offer rate.

There are numerous 2nd tier firms aggressively pursuing PTMBA students since those students have an additional two years of full time work experience (hopefully in a relevant field). I have seen OCR block PTMBA students from pursuing internships, but OCR has actively helps many of the PTMBA students land full time offers at consulting firms.

I see your point. I went to a PTMBA program that was 1.5 years, and we overlapped classes with FT students. I personally think work experience is overrated. A few consulting firms recruiting PTMBAs were keen on the "2 more years of experience" phrase. I do think the FTMBA is a better option. I was able to land the job I wanted, but I know quite a few PTMBAs who envied the FT job offers and wished they had gone that route.

I think everything that's been said so far is fair. I'm finishing up my part time MBA in May 2015 at USC because of its focus on international business. And for me this degree was a career change. Looking back at it now, I would tell myself to evaluate the MBA programs on the following: costs, program flexibility (important if working full time), recruitment and make up of alumni and current part time students. My school is mostly engineering undergrads looking to move up in heir companies with an MBA under their belt. So this network was what attracted me to the school as well as the above info.

Deleted

A few things:

1) Kellogg offers an accelerated program for students who have taken some standard business classes in undergrad - this shaves a quarter of the classes (and tuition) off your MBA- at a standard pace you'll complete in 7 quarters

2) PT students can partake in OCR so long as they attend some required workshops beforehand. PT students can, and do, land consulting jobs out of OCR, (including MBB)

3) Unreimbursed MBA tuition is tax deductible in its entirety as a business expense for those working full time (the Lori Singleton-Clark MBA IRS ruling essentially opened the full MBA deduction to any working professional). You should study the rules on the IRS website to ensure you qualify, but most PT students do deduct all unreimbursed tuition.

4) Apply for summer intake- easiest to get into

Note MBA tuition is only tax deductible for individuals earning less than $75k/year. But the gov't encourages Americans investing in themselves to be more productive to society...........

so, any decisions? @"TheGekko"

If you know how to network...it shouldn't hurt your network. You'll be an alum of that school and could leverage the resources. Some people can do this without paying 150k and going back to school. However, if it's required within your company or if they're willing to pay for it...its not a bad investment.

Most top programs (say nyu/booth) have restrictions on recruiting so you will not be able to participate in FT OCR. Sure there is always a chance you could network yourself into an interview but pt mba programs aren't designed for career switchers.

Ask yourself what it is you want to do and where you'd like to live after the program? Should help with the decision, good luck.

In my opinion, it all boils down to where you are in your career and what your goals are in obtaining an MBA. I think if you're looking for a career change then a full-time MBA is your best best. Two years and then start a new career or field. There are definite pros and cons to both. With either program you're going to expand your network and broaden your skill-set. One thing to keep in mind is that if you are looking to have a "concentration" then full-time might be your only option. For whatever concentrations are worth. Part-time programs also usually takes a year longer and is for individuals with more work experience. End of the day though it just depends on what you hope to gain in pursuing an MBA considering the opportunity costs, etc. As far as employers knowing for 1) your resume would reflect your employment/full-time student status and 2) some part-time programs contain "executive" etc in the degree. Though a benefit of a part-time program is many employers, at least mine, will help foot the bill. One thing to look into is a lot of full-time programs have opportunities to work on projects (with F100 companies) while in school so you not only pick up the degree but build your work experience and resume. Probably just stated the obvious but just my two cents.

There's a negative association with PTMBAs for a reason. As anecdotal evidence, my MBB office has yet to even offer an interview to a PTMBA candidate, and we always have 7-10 in every application round.

You're taking a harder path, and no amount of mental gymnastics can erase that fact. Some places simply won't consider you, and others will you the door is open when it's actually shut (because it sounds good).

I wouldn't engage on a PTMBA unless others part-timers from you're program have directly gone to where you want to be. If they haven't demonstrated that the path is open, I'd shy away. Due diligence should make or break this decision.

For what it's worth, I was initially going to do complete a PTMBA. I changed my mind during the school visit after talking to students and career services, and applied FT instead. So maybe I've got some confirmation bias going.

OP, take what JohnDoe said with a grain of salt.

Your employer is reimbursing you 100% for the MBA. That is awesome and you'd be crazy to turn that down. It's a no-brainer. 5-10 years down the road, no one gives a damn if you got your MBA full time or part time - you will still have that degree.

That said, if you want to switch careers into management consulting, PT MBA is not the way to go. You will have a much better chance with a FT MBA. Now, its up to you whether you think taking on 120K debt + opportunity cost of leaving your current job for 2 years is worth a career in management consulting. I think there are careers outside of banking/PE/HF/consulting where you can be quite successful if you play your cards right. Corp Finance is one of them. You might not make as much but you're also not mortgaging your life away.

Also remember that even if you get into a top MBA program, it's still very challenging to get a job at a MBB. Your odds are still better than if you were at a PT MBA program. That said, I've heard of people making career switches in a PT program, but they're the exception not the rule.

In nutshell, go PT MBA, unless you really want management consulting at a MBB.

Thanks for both of the responses.

I will most likely reach out to try to find some current students both PT and FT and get their thoughts about it to hopefully get a better feel about the current environment. Ideally I would try to see if anyone had luck trying to career switch in part time because although it would be great to work for an MBB leaving a fully paid education is rough. Given my non-traditional background I doubt I would be as competitive as others anyways.

There are a few people I could maybe talk to doing PT in my current department but I have a feeling they wouldn't feel compelled to divulge how exactly they are peacing out.

Would the door also be closed to PT students for something like Deloitte S&O? Or maybe a different T2 type firm?

FT is something I'm not necessarily counting out but I would prefer not if I was relatively afforded similar opportunities in PT

I'm pretty sure that by talking to people in both PT and FT, you'll hear that FT is a better experience and the better route for a career switch to consulting. That was my experience when I went to NYU and talked to both FT & PT students.

Personally, I'm more risk averse so I'd rather take the safe bet of building my current work experience and potentially making a career change v. taking on a lot of FT MBA debt and maybe getting a consulting job (with higher odds than PT). When I went to the NYU prospective student campus tour, I remember someone asked the tour guide, 'what is one thing you wish you had known before enrolling full time" and the response was "I know some students felt that by enrolling in a top 10 MBA program they could get whatever job they wanted... but in my experience there were lots of people that did not end up in the job of their choice." To me that sounds like people probably had to settle for jobs outside consulting/banking. Pre MBA work experience still matters a lot for full time recruiting.

I can't speak for Deloitte S&O but I'd assume its not as competitive as MBB. You'll probably still have to network a lot and spin your story in a way that makes you a good candidate (aka how your project management skills pre-mba prepare you for a career in management consulting, etc.)

Have you looked into Chicago PT MBA? I've heard good things about it. They also allow you to recruit with FT students and you have the same access to career resources as them.

Yeah, I'm from Chicago so I wouldn't go anywhere part-time but Booth or maybe Kellogg.

Booth does allow PT the same resources as FT nowadays but I know there is a bias during recruiting (other messages on the board saying >90% of the last few years recruiting were FT students)

The PT MBA is great to advance your career if you're stalled or it's a requirement at your company. However, I've known a fair number of grass from top ten programs PT components and almost none have managed to switch careers.

curious as well

Stop going part-time, go full-time to the best MBA program you can get in

Let's try some real advice:

1. Career-wise you mentioned three completely different fields. Start by picking one and go from there.

2. Every MBA program has to have an alumni databse with emails/contact info. Start by contacting the younger (5 years or younger) grads from your school in the geography/industry you want. If you have a short and meaningful ask in your email (are you guys hiring/ can we touch base/ how's X company), then you're likely to get some traction. It's my experience that the younger grads that want to be contacted tend to have the better alumni profiles.

3. See if your current company's competitors are hiring. AM is a great field if you have the right job and/or work for the right group/manager.

Hope this helps.

WestCoastChimp30, you're the boss!! Thanks for your advise. I've gotten similar feedback from people in the industry.

Thanks again.

SP

WestCoastChimp, would you not advise him to stop going part-time?

If he were just picking an option, it would make more sense to go full time. He's already going part-time so there's a sunk cost factor. When he graduates, interviewers will see the following: MBA/School/GPA. I doubt if any interviewers will give two craps about whether or not it was part-time or not. Plus he gets to pitch his story about working 40/60/80 hours a week AND getting his MBA. That makes for a much better narrative than someone who went to Wharton for two years to network and get drunk at Thursday MBA pub (you know who you are).

Regardless, to the OP: pick ONE field and then approach people. Not the other way around. It reflects poorly on you.