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The opportunity costs of part-time work 2020

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Joined: 18 Apr 2019
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The opportunity costs of part-time work 2020  [#permalink]

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New post 30 May 2020, 04:56
Ok, so I know there are several topics and discussions on part-time work while doing a full-time MBA. But is 2020 different ? Do we see an increase in the opportunity cost of leaving our jobs at the start of the program ?
My story: I was admitted to my dream school in 2019 and could hardly wait to start the program in fall 2020, having no concerns about quitting my job what so ever. I like my company and industry, but I want to do an MBA and transition to a different function, which would not be so easy without changing the company. Several months forward - there is a global pandemic. The implications for me: the world has entered the greatest recession it has seen for a century, hiring dries up, MBA graduates get their offers rescinded (there are couple of articles about that in P&E) and classes are online. Worst of it all - we don't know when this will end. My natural reaction is - should I adjust ? In my particular case, the school will start online and then move to "hybrid", which is basically a mix of online and f2f classes. I am sure there will be plenty of events online, but would it be a good idea to negotiate part-time work with my current employer for at least the rest of the year until we know more about the state of the world ? Do you see this also manageable time-wise (considering the online model) ?

My thoughts:

Pros:
- The obvious one: additional income
- Keeps goods relationship with my current employer and could go back if things turn even more sour on the job market
- Possibly considered as additional experience and might signal a "resilience" for potential new employers
- Opportunity cost of missing out from school is less now imo given that we will have more online in term 1 (and could potentially access classes on demand)
- Gives options - I can quit with a month of notice if it gets too much

Cons:
- Less time to focus on classes and networking, be that online or not
- It will be tough

What are your views on this. Would you do the part-time for at least part of the program or you think it is not worth the pressure.

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Re: The opportunity costs of part-time work 2020  [#permalink]

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New post 03 Jun 2020, 22:01
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Hi. Interesting question in light of the COVID-19. Thanks for bringing it up. If you are doing an Online MBA, it is possible you will have some extra time (more so than you would with a FT MBA). At the same time, I can't fault you for trying to keep the job. It would be pretty silly to sit at home and do nothing while you could be working.

A few thoughts:
1. there is absolutely downtime and crunch time during the MBA. Likely applies to the hybrid or online portion of the program as well and often the program starts up with a high-intensity introduction/orientation that sometimes is in a form of a trip or a retreat where you would be cut off from the rest of the world and thus it would be impossible for you to work in parallel.

2. At the same time, if your work is somewhat flexible, I can see keeping the job through Sept/Oct and seeing how things develop and play out. It is totally possible and doable to have a PT job during the MBA. I had one but it takes a toll on your recruiting so you are getting a short term win at the cost of a long term loss if this makes sense. It is imporant to understand when you need to cut bait and leave.

3. At the same time if the economy is still very sleepy (not sure if this is the biggest recession in the world's history by the way. It surely does not look from the stock prices here in the US... and I am not trying to contradict you, just trying to point out the illogical pricing of the equities)

Bottom line: if your job is flexible enough, i would totally hang on to the job if it is flexible enough.
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Re: The opportunity costs of part-time work 2020   [#permalink] 03 Jun 2020, 22:01

The opportunity costs of part-time work 2020

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