Part-time MBA programs are becoming more popular as students realize that they can pursue a management degree without taking two years off from work. Almost 2000 more students enrolled in part-time MBA programs this year compared to last, bringing the number of students to 66,183.
The lead article to the new BW rankings, "Part-Time MBAs: Greater Expectations," explains how student motives are shifting away from career advancement to a switch in job or career placement. Because of this shift, students are expressing a greater demand for career services than did their predecessors.
Monica Powell, associate dean at the UT-Dallas School of Management, explains:
When you talk to this current group and ask them why they are pursuing this degree, students say they are doing it because they want to make themselves more marketable in the job arena, distinguish themselves from others, and further their educational backgrounds. It's partly generational because of Gen Y and the Millennials, but there's been a shift away from doing the degree for the company toward doing it for themselves. For them, it is almost as if they are doing this as an insurance policy for their careers. If they are going to be on the chopping block, maybe they will be later in line if they have this degree, as opposed to the head of the line.
Why do Gen Yers and Millennials feel the need to pursue an MBA as insurance? It always comes back to the same thing: The Economy.
And now…the rankings:
Top 10 Part-Time MBA Programs (Rated best for…/average salary increase)
- CMU Tepper (Job changers, 44%)
- Drexel LeBow (Career switchers, 24.9%)
- U. of Richmond Robins (Job changers, 47.5%)
- Maryland Smith (Career switchers, 31.9%)
- Lehigh University (Career advancers, 18.2%)
- U. of Nebraska (Job changers, 60.7%)
- Michigan Ross (Career switchers, 44%)
- Indiana University Southeast (Job changers/career switchers, 28.9%)
- Chicago Booth (Career switchers, 33.2%)
- Case Western Reserve Weatherhead (Career switchers, 38.4%)
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