Smith vs. McDonough and PT vs. FT

Question

I am currently debating between a part-time and full-time MBA program, mainly between Georgetown and Maryland. My career goals are somewhat unique for most MBA candidates.

By way of background, I'm 29 with 5+ years of experience working in DC for a non-profit in the international development sector. I’ve decided to get an MBA for several reasons: 1) if I stay in the non-profit international development field it will make me stand out and give me skills that others won’t have, 2) I’m very interested in working for a company that’s doing business in Africa, consulting for companies that want to enter African markets, or working in some capacity in the intersection of business and development.

I’ve been accepted into the following programs so far:
-University of Maryland’s full-time MBA (total cost: $33,280. I received a $30k fellowship, as well as a GA for my first year. I'll have to apply for GA for second year)
-University of Maryland’s part-time MBA (approximate cost: $48,000. I received a $19k scholarship and my work place will cover $5250 per year)
-University of South Carolina’s full-time International MBA (total cost: $ 26,142. I received a $7k fellowship and GAs for both years worth $13k)

I'm still awaiting decisions from the following:
-Georgetown University’s full-time MBA (decision given on March 20)
-Georgetown University’s full-time MBA (decision given on March 20)
-Tufts University’s Fletcher School’s Masters in International Business (decision given on March 14)

I'm fairly confident I'll get in to Georgetown and Tufts - I had a 327 GRE score, which converts to a 690 GMAT and a 3.86 GPA, and lots of interesting international experience.

I’m really debating between a full-time and part-time program. The idea of taking two years to focus on studying sounds very attractive, especially since I'm kind of making a transition. I like the idea of being able to try new things out through an internship, consulting projects, etc. But I'm also very debt adverse. My personal finance philosophy is in the "financial independence" camp - I love saving as much money as I can and throwing it into investments. As a result I hate the idea of going $60k+ in debt. It’s exciting to think of the possibility of graduating and not having any debt. Yet at the same time, it seems fairly exhausting to think about being in school for three years while working full-time. I think right now I'm leaning towards part-time. I'm about to get promoted and keeping my salary sure seems nice.

If money wasn't an issue, my first choice would be Georgetown - they have better name recognition and more of an opportunity to pursue my focus on Africa (they just had their first annual Africa Business Conference). I just went to Smith's FT admitted students weekend and was really impressed though - they seem to have a great community. But when it comes to part-time programs, Georgetown's seems much more attractive to me. It's just the sticker price that is a huge turn-off (potentially $120,000, although this is the first year that they are giving out scholarships for their PT program)

I applied to USC's IMBA because it's ranked #1 for IMBA and they have an interesting language immersion program. I recently visited the school though, and felt like it was too much of a regional school - I feel like UMD and Georgetown would open more doors for me.

FWIW, I'm really interested in Tuft's program because it combines my interests, but I'm afraid that an MIB degree won't have the same sway/recognition as an MBA.

I'll update once I get Georgetown's response.

I'd love to hear people's thoughts!

AndreMBAitNOW · Answer

Hi,

Part-time and Full-time has their own advantages and disadvantages. Moreover, if you would want a significant competitive advantage and wider opportunities for your career, you must go with a Full-time MBA program. With regards to your financial concerns, scholarships and grants are extensively available for Full-time MBA programs as well.

Furthermore, if you have a current career that you enjoy doing and want to accelerate it, you may be a better fit for a Part-time MBA.

Hope this helps!
If you would like more in-depth insights that are relevant to your individual situation, sign up for our free consultation at MBAitNOW website.

gbout3 · Answer

The depth and breadth of Georgetown's network is pretty good, especially in the type of fields you're interested in. I think that makes Georgetown a great choice for you. Part time vs Full time, I would always say it's better to go full time. The debt may seem crazy but it's very manageable considering the starting salaries upon graduation

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alphabeta1234 · Answer

I say Gtown but Maryland is a good second.

MBAforAfrica · Answer

I have some updates:

I've also got accepted into Georgetown and Tufts' Fletcher School. Georgetown is probably my first choice, but unfortunately for full-time they didn't give me any money and for part-time they only gave me a $2,500 scholarship for the first year. Tufts gave me a 50% scholarship for their full-time. So these are my options:

Georgetown FT: $116k for tuition
Maryland FT: $33k for tuition
Tufts FT: $51k for tuition
University of South Carolina: $30k for tuition (although they just informed me that they have more money to give me)

Georgetown PT: $92k for tuition, after taking into consideration my work's tuition reimbursement
Maryland PT: $48k for tuition after taking into consideration my work's tuition reimbursement

Georgetown is my first choice - not only because of the name, but I also feel like they provide the best opportunity to focus on doing business in Africa specifically. I was assuming the FT program price would be out of reach, but I hoping that for the part-time program I would get more money. It would basically be three years in which my whole salary after basic living expenses goes to paying for tuition!

I visited Tufts last week, and I felt most "at home" among the students there, as most people are interested in the developing world/emerging markets. But since it's like a combination of an MBA and an international affairs degree, I felt like an MBA provides more opportunity to dive further into valuable quant skills.

MBAforAfrica · Answer

Just figured I'd bump this post to see if anyone had any more input.

whitman · Answer

It seems like the Tufts program might be the best fit. I have no idea how their employment is and if you'll be able to easily secure a job working at an NGO or whatever in Africa or not. It will definitely be a niche market outside of career services at any business school, though, I would imagine. The Tufts program seems created for someone like you, and it's less than half the cost of Georgetown. Full price for a risk-averse individual looking to enter a market with questionable return seems like a bad idea to me. I don't know much about Smith.

bb · Answer

No Love from Yale?
If you are staying in the same industry/same capacity, PT is the best ROI as it looks to put more focus on balancing work and studies. However, if you are looking for a shift/change, FT is the better way as it is positioned towards recruiting. FT is also a more fruitful and more enriching experience while PT tends to be more stressful and a constant balance of priorities (job vs. school).

Smith vs. McDonough and PT vs. FT

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