Accepted to Schools - Now Debating Part-Time

Question

So I've been through the application process (twice, actually) and received admits from two great schools thus far.

Now I'm calculating how much that I'm actually going to spend on this degree, and I'm wondering if it's worth it for me in the long run. I don't really want to do consulting/banking at this point. I don't think I could do the hours & extensive traveling. I basically just want to run a P&L eventually and possibly start my own company sometime down the road. I'm seriously considering going to part-time programs now.

I think I had been so focused on getting in that I didn't fully evaluate costs, opportunity costs, 2 years away from industry, etc that is involved in a full-time program. 
Has anyone else felt this way after being accepted? The costs of loans seem daunting....am I crazy for not embracing this opportunity?

domotron · Answer

I think part time and full time programs offer completely different experiences. Some of the considerations I can think of are

- Can you see yourself working and studying at the same time?
- Do you want to leverage the MBA for a career change. If so can a part time MBA achieve it?
- Do you want a break to reflect and work out what you want to do in the future?
- How tight will the network be in a PT MBA compared with a FT MBA (open ended question, I have no idea)
- There may be a perception by employers that part time programs are not seen as an equal to full time programs
- How important is the social aspect of the MBA? Clubs / trips etc

It comes down to what type of experience you want and how risk adverse you are. The part time option would keep you employed and your finances will look a lot healthier but will it achieve what you want to do with the MBA. The loans of the FT option are daunting but if it gives you a better shot at what you want in the long term then it may be worth the risk.

SeeakingAdvice · Answer

I had a mini panic attack last night when I considered that I want an MBA to career change and how I'd be entry level or so at a new job with massive debt and people who may be impatient (this guy is an MBA from XXX and needs to be trained?). Ahhhh.

mbajam77 · Answer

I think you need to assess what your goals are with regards to your MBA - is it simply to get the degree or do you also value the two-year MBA experience and the quality of interaction with peers? Having done both a part-time (master's) and a full-time MBA, I found the full-time experience to be much more immersive and the caliber of my classmates to be higher (since typically the admissions standards are more difficult for full-time versus part-time programs). Also, don't forget that the people you meet during business school become your network (future business partners, customers, etc.), so weigh this aspect carefully. Obviously, the costs are also much higher with a full-time program. There's no one right answer, you just have to see which factors are most important to you.

zcrew · Answer

It may be time to read a book like  What Color Is Your Parachute . It is a big decision but everyone I know that has gone with full-time has come out on top due to the networking and goals they had set ahead of time. It wouldn't hurt to get the perspective of someone in the field you are hoping to be in after the MBA and pick their brain. If you don't have a plan, you may end up in a place you don't care for.

Dan8294 · Answer

I think I just got cold feet when I was running the costs of it and panicked a bit. I've been pretty focused on my goals until now, but I've decided I'm going to go for the full-time route.

It's a risk, but I think the greater risk would be to get 10 years down the line and have regret about not going.

Accepted to Schools - Now Debating Part-Time

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