Despite the high popularity of full-time MBA options, which remain more competitive than part-time MBA programs, there are still lots of advantages of part-time, or Executive MBA choice.
Furthermore, many MBA candidates have profiles that perfectly meet part-time, Executive MBA options only.
To make it clear which option to study, let’s start with the main differences between full-time and part-time applications:
- Part-time MBA candidates are used to demonstrate more (over 5 years) professional experience, whereas full-time MBAs may accept candidates with a minimal, 6-month work background.
- Most part-time, Executive MBA (EMBA) candidates have succeeded in their careers before MBA application, with top management or CEO positions. In case of full-time MBA, its pool of applicants often targets such positions as their post-MBA goals.
- EMBA graduates focus on expanding their activities globally, advancing their business network and strengthening their leadership and mentorship roles. Full-time MBA mates mostly seek new job opportunities in global companies, investments in their business and start-ups and promotions to top management and CEO positions in their current workplaces.
So what are the largest advantages of part-time, EMBA programs? They are just a few, though their values are obvious:
- Lots of EMBA and part-time MBA do not require GMAT s score at all, or may request its alternative (for example, internal Assessment Tests designed by b-schools), or accept GMAT scores, which are much lower than full-time MBA class has (there are successful application cases to EMBA and part-time MBA of top-10 business schools, where GMAT score did not exceed 650)
- Flexible schedules of part-time and EMBA allow its classes to balance their work and study without interrupting their professional tasks and goals. Module study approach requires attending on-campus sessions just 2 or 3 times a year and doing the rest of studies at home at any convenient time.
- Application deadlines of EMBA and part-time MBA are usually on rolling basis and give an opportunity to apply by the very beginning of studies, or even after a study year begins. In some cases, part-time MBA students may join their classes in the middle of the study year.
- Though financial aid for part-time and EMBA has fewer options and there are rarely scholarship opportunities, ability to work during the studies would compensate the absence of financial support (which plays substantial role in full-time MBA option, where applicants have to quit their jobs and live and pay tuition fees and other expenses for a year or two).
- Part-time and EMBA has much less class-size, opening better opportunities for more qualitative feedbacks and communication with faculty and building closer networks with class mates.
Taking into consideration a long list of advantages, business schools should take a much louder voice for their part-time and EMBA programs and discover their unique outcomes.