A master's degree in business administration (MBA) can lead to promising job options, and the ability to specialise in a certain industry. Many students have pondered the advantages of returning to school and acquiring an MBA as the economy has struggled because of the epidemic. Students seeking an MBA have a variety of alternatives, with most schools offering both full-time and part-time programmes. However, there is a confusion among students when it comes to part time MBA vs full time MBA.
If you are someone wondering what is the difference between part time MBA vs full time MBA, you are at the right place! Keep reading as we will answer all you questions related to part time versus full time MBA!
Overview of Full Time MBA
If you are entering an MBA program full-time, you cannot do any full-time job as you will not make money for almost 2-3 years. These programs are most popular with the younger students who have recently obtained bachelor's degrees.
- The workload in the full-time MBA is very high, and the class schedule is very demanding for the Part-time program.
- In addition to that, a B-school university's reputation depends upon the ranking of the full-time program. As a result, more selectivity and investment are focused on the full-time programs.
- A generalist degree offers knowledge of fundamental management, and it means that you will get a holistic view of the business across areas such as accounting, finance, and marketing. All of those develop vital leadership and soft skills.
- Apart from all this, the candidates are also informed that they might pursue a general MBA degree or they can complete their MBA with specialisation.
Some popular specialisations to pursue an MBA are:
- Finance
- Marketing and sales
- Operations
- Hospital and healthcare
- Supply chain
- Business analytics
- Human resources
- International businesses
- Entrepreneurship
Overview of Part Time MBA
In part-time MBA programs, there are only two main types. Executive MBA is mainly designed for students who have years of experience in leadership or executive roles.
- The average age of the students is 35, with the work experience of 11 years of experience. This EMBA program focuses mainly on networking. There is significantly less interaction between students of MBA and EMBA.
- These MBA courses are smaller than the full-time program and carry a heftier price as the employers have to pay their tuition bills.
- Nonetheless, some scholarships are provided to part-time students; they should lean on private investment funds, advances, and employer sponsorship for the educational costs.
- The Part-time MBA courses are frequently viewed as less severe than the full-time course and might take long years to end. The real test for seasonal workers is adjusting to school and work, commonly to the detriment of family or social time.
In a part-time MBA, you can also complete MBA with a specialisation such as:
- Finance Management
- Accounting Management
- Sales and Marketing Management
- HR Management
- International Business Management
- Marketing Management
- General Management
Suggested: Difference between MBA and an EMBA
Difference between Part Time and Full Time MBA
Moving on, let us understand how part time MBA vs full time MBA differ from each other based on certain aspects. There are various difference between parttime and fulltime MBA , so let’s have a look at each one of them:
|
Particulars |
Full-time MBA |
Part-time MBA |
|
Program Duration |
2 years |
6 months to 12 months |
|
Tuition Fees |
INR 20,000 to 40 Lakhs or USD 260 to USD 52,000 |
INR 10 to 20 Lakhs or USD 13,000 to USD 26,000 |
|
Eligibility |
Students must have completed graduation with a minimum of 50 percent or equivalent. |
Students must have completed graduation with a minimum of 50 percent or equivalent. |
|
Work experience |
Recommended 2 to 3 years of work experience |
Recommended 3 to 5 years of work experience |
|
Top countries |
US, UK, Canada, Germany, Australia, France, Spain, and Singapore. |
US, France, UK, and Singapore |
|
Average Salary per Annum |
INR 18 to 20 Lakhs or USD 24,000 to USD 27,000 |
INR 5 to 10 Lakhs or USD 6,600 to USD 13,200 |
Suggested: Why Students Prefer Full Time MBA Over Part Time MBA?
Universities for Part Time and Full Time MBA
To make the difference between parttime and fulltime MBA more understandable, let us distinguish the part time MBA vs full time MBA universities:
Full-time MBA Universities
|
University |
Tuition Fees per Annum (in USD) |
QS World University Ranking 2022 |
|
Stanford Graduate School of Business |
55,000 |
#3 |
|
Wharton School |
48,000 |
#13 |
|
MIT Sloan School of Management |
4,000 |
#1 |
|
Harvard Business School |
71,000 |
#5 |
|
3,000 |
#10 |
|
|
INSEAD |
83,000 |
#6 |
Part-time MBA Universities
|
University |
Annual Tuition Fees (in USD) |
QS World University Rankings 2022 |
|
HEC Paris |
3,000 |
#10 |
|
Ceibs |
1,20,000 |
#78 |
|
EMBA-Global Asia |
1,89,583 |
- |
|
Kellogg/HKUST Business School |
14,39,772 |
#2 |
Suggested: Cost to Study MBA Abroad
Scholarships for Part Time and Full Time MBA
Let us now distinguish between part time vs full time MBA on the basis of scholarships. Typically, only a few part-time MBA programmes offer scholarships to their students. This is primarily due to the fact that students are employed and can afford to pay the program's tuition fees on their own. All full-time MBA programmes have scholarships available for students. However, it completely depends on the university.
Some Full Time MBA Scholarship grants are:
|
Scholarships |
Award (in USD) |
|
Arizona State University W. P. Carey Forward Focus MBA Scholarship |
Full resident tuition of 59,794 |
|
Chicago Booth Fellowship |
Annual Tuition with Additional Reward |
|
Ritchie-Jennings Memorial Scholarship |
Upto 10,000 |
Some Part Time MBA Scholarship grants are:
|
Scholarships |
Award (in USD) |
|
Chicago Booth Merit-Based Awards
|
Variable |
|
Kilts Marketing Fellowship |
Mentorship from senior marketing executives |
|
Need-based and Merit-based Scholarships |
Up to 5,000 |
Suggested: MBA Scholarships in Germany
Career Opportunities after Pursuing Part Time MBA vs Full Time MBA
The career opportunities for both part time versus full time MBA are pretty good. Part-time MBA is usually pursued by students who are already a working professional, whereas full time MBA by fresher. As a result, the student's income does not increase significantly when compared to a full-time MBA graduate.
Full-time MBA graduates acquire a new job that pays significantly more than the position they had before starting the MBA programme. This is one of the main reasons why full-time MBAs are preferred.
Job profiles for part time versus full time MBA are:
|
Full Time MBA |
Part Time MBA |
|
Treasurer |
Financial Analyst |
|
Brand Manager |
Marketing Manager |
|
Market Analyst |
Project Manager |
|
Finance Manager |
Management Consultant |
|
Credit Analyst |
Risk Manager |
The difference between parttime and fulltime MBA in terms of salary has been tabulated below:
|
Program |
Average Salary per Annum (in USD) |
Average Salary per Annum (in INR) |
|
Full Time MBA |
24,000-30,000 |
18,00,000-20,00,000 |
|
Part Time MBA |
14,000-20,000 |
10,00,000-15,00,000 |
Suggested: Jobs After MBA in USA
Part Time MBA vs Full Time MBA: Final Verdict
Making the final verdict on the difference between partttime and fulltime MBA, the full-time MBA program is an escalated and organised educational plan that ordinarily requires two years to finish.
- Some full-time programs have inflexible guides to graduation. While students can glean some valuable knowledge during the vivid experience, the program allows for familial and individual obligations, and an everyday occupation is impossible.
- Then again, a part-time MBA program is organised around the student's timetable and obligations. This kind of program is intended for experts who need to continue working in the field while contemplating those with families and lives that can't be postponed during the two years that a full-time MBA responsibility requires.
Suggested: Top 20 Business Schools in the World!
Therefore, summing up the discussion on part time MBA vs full time MBA, if you are a freshly graduate and have no tension to do the job, you can go for a Full-time MBA, and if you are a working professional and cannot afford to leave your job, you can go for a Part-time MBA. for further assistance on part time vs full time MBA, you can even connect with our Yocket Counsellors!
