If you’re considering an MBA, you’ll be choosing between a full-time or part-time program. Deciding which is better for you depends on several factors, including your reasons for pursuing the degree, available time and preferred learning style.
Isser Gallogly, associate dean of MBA admissions and program innovation at the Leonard N. Stern School of Business at New York University, compares it to deciding between a pick-up truck and a sedan.
“They’re both vehicles. They’ll both get you places,” he says. “But there are certain things they’re optimized to do.”
Prospective MBA candidates should determine their career objective and long-term goals when deciding which option better serves them, he says.
[Read: 3 Factors to Help Find the MBA Program That’s Right for You.]
Full-Time vs. Part-Time MBA
Both options result in the same degree with courses typically taught by the same faculty. The curriculum generally doesn’t differ between programs, with each offering the same core and elective courses and requiring the same number of credit hours.
However, they differ in the time commitment and time window to complete the degree.
U.S.-based full-time programs are typically in-person and completed within two years. They usually consist of four semesters with a summer internship in the middle. Part-time programs are generally more flexible, offering in-person, hybrid or fully online options and allowing the degree to be completed over several years. For example, Stern allows students up to six years to complete its part-time degree, though most finish in just over three, Gallogly says.
Part-time MBA students typically don’t do internships because they’re usually already working while completing the degree, experts say.
A full-time MBA is usually better for people making a career transition, whereas a part-time program is better suited for those looking to advance their career within their current company, experts say.
“I don’t know if one outweighs the other,” says Kevin Bender, executive director for MBA enrollment management and recruiting at Wake Forest University School of Business in North Carolina. “Full time is for a less-experienced student, maybe two to five years out of undergrad. The part-time program is more for people 10 years out, maybe a little more senior.”
Full-Time MBA
Considering a full-time MBA likely boils down to one question, says Sameer Kamat, founder of MBA Crystal Ball: “Can I put my life on hold for two years?”
Full-time MBA students usually leave the workforce for about two years to focus solely on their degree, so you must be willing to sacrifice income. Since full-time MBAs are typically in person, you may also have to relocate.
[Read: What an MBA Degree Is and What You Need to Know.]
Ask yourself if you can handle these sacrifices and the disruption to your social life, Kamat advises.
“If the answer to the question is yes, the world is your oyster with a wide range of full-time MBA degrees to choose from,” he wrote in an email. “If the disruption is too much to handle, a part-time degree offers a good balance between what you have and what you want.”
Cost
Some full-time MBA programs charge more than $100,000. Full-time online options may be cheaper, but prices vary by school, experts note. Like with any investment, you should consider the expected return, Gallogly says.
“For some returns, you have to make more of an investment,” he says. “For the career switch, you might have to make the investment of more time and possibly take additional loans to get to that career transition on the back end. If you’re looking for that bigger return in terms of changing careers, you might have to invest more in terms of time and forgone wages.”
Pros and Cons
Though Wake Forest offers only a part-time program now, Bender completed his MBA there when it offered a full-time program. For him, one benefit was being fully immersed and able to focus completely on his degree.
Full-time programs also typically offer better networking opportunities in the classroom and beyond, since students are typically residential and in lockstep with each other, experts say. Summer internships sometimes lead to full-time jobs, and full-time programs may offer study abroad opportunities that part-time programs don’t.
The 2024 Graduate Management Admission Council Corporate Recruiters Survey found two-thirds of employers still believe in-person programs “impart stronger technical skills than online programs,” and nearly three quarters of global employers say in-person programs “impart stronger leadership and communication skills” than part-time programs.
However, forgoing income is a major drawback for some students. Some employers offer financial support for employees to complete an MBA, and veterans can also receive benefits to help pay for graduate school.
Full-time programs are typically more intense, less flexible and more selective.
“Full-time program aspirants have a higher appetite for risk,” Kamat says. “They face bigger challenges not just during the competitive admissions phase, but also during recruiting.”
[Know the 4 Questions to Ask Yourself Before Applying to B-School]
Part-Time MBA
When choosing his MBA path, Bender had the misconception that part-time programs were “watered down.” That’s not the case, he says, adding that employers are impressed by those who can juggle their studies with work, family and other responsibilities.
GMAC also reported that more employers are growing more confident in the value of MBA graduates’ skills in remote and hybrid work environments.
Since part-time MBAs are designed for working students, classes can be taken at night, on weekends or on your own time if done online.
Cost
Part-time courses are typically charged per credit, but end up being similar in total cost to full-time programs, experts say. Some can amount to more than $2,000 per credit. Among the 10 most inexpensive part-time online options, the average cost per credit for the 2024-2025 school year was $292, according to U.S. News data.
Pros and Cons
Part-time programs teach you the foundations of business at a less strenuous pace while allowing you to keep working and living your life. The admissions process is typically less selective at these programs, experts say.
Part-time students are less bound by their MBA academic calendar when searching for jobs and may have more freedom to change jobs while in school, experts say. Bender estimates that 63% of Wake Forest students receive a promotion while in the program.
However, you should consider that you won’t be fully immersed with your classmates, and networking and extracurricular opportunities like clubs are limited compared to full-time programs.
“One thing that may differ would be a student’s desire to get involved in some of those things,” Gallogly says. “A full-time student may have more time, so they may want to get fully immersed in the student experience, whereas part-time students may vary.”
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Decide Between a Full-Time and Part-Time MBA originally appeared on usnews.com
