If you want to study for a professional degree and you do not have time to study full time, you may want to consider enrolling in a Part-time MBA degree program. While you can finish your degree faster if you take a full-time program, studying for 40 hours per week is not realistic for everyone. Part-time programs are great for students who are already employed and students who have familial obligations. Here is what you need to know about the structure of programs that are delivered on a part-time basis.
How is a Part-Time Program Structured?
Part-time Master of Business Administration programs are designed specifically for working professionals who want to advance their careers while they are earning a living. One of the things that is unique about a part-time program is how the program is structured. Unlike a traditional MBA degree, which can be earned in about two years, it takes anywhere from two and a half to five years to earn a part-time graduate degree, according to Bloomberg.
One of the main reasons why it takes a lot longer to earn your degree in a part-time program is because you will only take about one to two courses per semester as opposed to a larger course load. All of the same curriculum will be covered based on the concentration that you select.
Is the Student Experience the Same for a Part-Time Program?
Part-time graduate programs can be delivered both in person and online. In most schools, students will enjoy the same amenities that they enjoy if they are studying on a full-time basis. You will have access to student support services, school activities, counselors, social organizations, and computer labs. This means that you can network with other working professionals while you learn.
Does It Pay Off to Earn a Part-Time Master of Business Administration Degree?
There has been a widespread debate concerning whether or not it is worth it to spend the time and money to earn a master’s degree. If you are still trying to determine if a part-time degree will pay off in the end, it can help to look at what your potential earnings are after you possess your MBA.
According to the most recent studies, the average pay gains that are achieved after earning a part-time MBA is between 35 and 40 percent, according to Forbes. The average gains reported five years post-MBA is around 43 percent. Since the salary of part-timers nearly doubles after the first years after your graduation, having a part-time degree can pay off.
Tips to Cover the Cost of Earning Your MBA Degree
One of the drawbacks of earning a degree is that it can cost upwards of one-hundred thousand dollars to complete your MBA program. If you are worried about paying the cost of tuition out of your own pocket, you might want to consider asking your employer if they will cover a portion of your tuition fees. Many larger companies have reimbursement programs that cover the cost to advance your education.
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When you are comparing MBA programs, focus on accreditation. Only attend schools that meets the standards of an accrediting agency like the Association to Advance Collegiate Schools of Business. Once you have narrowed down your options, compare the programs of study and then enroll in a Part-time MBA program for more job opportunities.