Does the thought of quitting your job, pulling on your sweats, and becoming a college student again—enduring rigorous studying and classes, grueling internships, endless networking, and interviews—excite you? Are you looking to climb the corporate ladder at your current job, or even switch careers altogether? If so, you may want to consider getting your master’s in business administration (MBA). Think it won’t work with your schedule? It’s true that any way you cut it, an MBA is a big time commitment. However, there are different types of programs these days for different types of students. Here’s a look:
Full-time: At the full-time level, many MBA students are looking to change careers, says Elissa Ellis, executive director of the Forte Foundation, a consortium of business schools, corporations and non-profits that support women on their rise to corporate leadership. During that typical two-year period, you are immersed in business strategies and skills training, networking, and meeting alumni and leaders in the corporate world. “You’re given that chance to chew on all the different options available and pursue some of them through internships and special projects,” Ellis says. “You have time to give [business school] your full attention.”
Part-time: If you are already invested in your career and want enhancement, a part-time program is a solid option. You can take classes a few weekday evenings a week or on the weekends. Sometimes, your company will even pay for the classes. However, there’s still a cost to you. It can be a challenge to juggle your job, classes and your personal life, Ellis says. “Women tend to think, ‘I can do it all,’ but you have to ask yourself if you can,” she explains. With a part-time program, she adds, “You’re really putting yourself through the wringer for three years.”
Executive: When you’re about eight years into your career, your employer might identify you as a candidate for an executive MBA program because you are seen as a potential leader. You’re succeeding in your industry and this program gives you a leg up on the competition, explains Ellis. The students in an executive-level program all are managers and slated for leadership positions in their companies within the next five years or so, she adds. Often, classes are on the weekends and are smaller, and students fly in from corporations around the country.
Distance learning: There’s nearly nothing you can’t do with today’s technology, including go to business school. If you want to gain specific skills, your degree can be a click away through an Internet program. Many of today’s top business schools offer them, and they allow greater flexibility. Both students and faculty often are geographically dispersed, which means you as the student are exposed to more diversity as well. A distance learning program can be a disadvantage, however, if you prefer more interaction. Also, if you are seeking a career change, you won’t get the same internship/business opportunities with this program.
Check out two related stories: Thinking MBA? Meet Three Women Who Are Glad They Did It and Thinking MBA? Here’s How To Pay For It
