At its core, the MBA is a business administration graduate program for professionals seeking knowledge, skills, a credential, and a network to help them advance in business and maximize their career performance. Although the term “MBA” makes many people automatically think of a two-year, full-time program, in recent years, the variations on the MBA theme have multiplied in response to students’ and organizations’ changing and diversifying needs and interests.
Natalie’s story
When I was applying to b-school, I contemplated part-time versus full-time programs, and one of my best friends, Colleen, had to make the same decision.
Ultimately, I decided to attend the Ross School of Business’s full-time program at the University of Michigan. Colleen chose to study in the part-time program at Michigan Ross instead. We shared 60% of the same classes and 40% of the same professors, and we even had a class together. At the time, Michigan offered evening courses, reserving half the spots for full-time students and half for part-time. Sadly, the school recently discontinued its part-time program.
I graduated two years before Colleen, with a unique internship, the opportunity to begin a new career, and a lot of debt. Colleen advanced quickly with the company that hired her upon graduation from college and graduated without debt, because the company had sponsored her education. We both have the same degree.
Now, as an Accepted consultant and former admissions director/dean of full-time, part-time, executive (EMBA), and online programs, I lend you my insight and guidance from the other side of the table in this brief analysis of program types.
Getting to know the MBA players
Are you ready to explore the various players in MBA admissions? Here’s a roundup of available MBA program options and their benefits and drawbacks.
Full-time MBA programs
In the United States, full-time MBA programs are two-year programs with an internship in the summer between the first and second year. They target business (and sometimes other) professionals who have roughly three to eight years of work experience. These programs are perfect for 25- to 30-year-old career changers who can afford the opportunity cost of leaving work to immerse themselves in education and experience. Obtaining a new position post-MBA is often a primary focus for students, and recruiting by potential employers is a significant benefit of attending a full-time MBA.
A business school’s reputation often relies on the brand value of its full-time MBA program. Those programs consume the most significant portion of the school’s budget and rarely generate revenue. MBA programs dedicate more than 90% of all scholarships, fellowships, and resources, such as career services, to full-time students.
Pros
- Close and sustained interaction with other full-time students – ideal for career changers, internship opportunities, strong recruiting, company presentations, fellowships, and scholarships
- Feels like an undergraduate program, with clubs and activities
Cons
- Significant opportunity cost, time away from industries that are undergoing rapid change
- Families often get the short end of the stick, though schools typically have resources to support students’ spouses/significant others.
An alternative to the traditional two-year program would be a one-year or one-year plus accelerated program in the United States, such as those offered by Kellogg, Emory, and Columbia (J-Term), or a European MBA program.
Part-time MBA programs
Part-time programs are ideal for people who don’t want to leave their company or industry for a significant period of time or who can’t afford to stop working. Such programs target individuals who are employed full-time. These students’ continuous professional efforts shape classroom discussions and projects. Part-time MBA students tend to be a little older than full-time MBA students. While these programs traditionally serve local students, they increasingly offer varied structures and online components to attract distance students. They do not generally provide as much access to recruiters. Often, admission is less competitive than for the same school’s full-time program, which allows part-time students to obtain a “brand” they might not qualify for otherwise.
These programs take very few resources but often share the same faculty as the full-time program. Generally, the part-time applicant pool is less competitive or diverse because schools typically receive fewer applications and are limited to their immediate region and to the industries that dominate that region. Furthermore, part-time programs can serve at least as many – and often more – students than their full-time counterparts.
As much as schools say that the quality of their full-time and part-time students is the same, that quality truly depends on the school’s location and how that location generates applications. Schools in larger cities have an easier time attracting great applicants to their part-time programs. They can maintain higher quality standards, but full-time programs evaluate applications from around the globe, so choosing candidates for admission is easier.
Pros
- Can continue to work/earn and can apply learning in real-time
- Companies often fully or partially sponsor part-time students, lessening their financial burden.
Cons
- Completing the program takes longer, internships are not offered, and many schools don’t offer access to recruiting. Working and studying simultaneously can be grueling.
- Most part-time programs do not offer scholarships or fellowships to part-timers.
- Part-timers typically have less access to comprehensive career services than students in full-time programs, because companies usually hold their presentations and interviews during the day.
Executive MBA programs
Executive MBA programs (EMBAs) are part-time programs targeting seasoned managers and entrepreneurs – typically, people in their mid-30s to late 40s (depending on the program) whose rise to senior level is imminent or who are already in senior management. This category has a range in terms of desired/required length of experience. Although the coursework covers the same topics as traditional MBA programs, it’s developed and presented with a higher-level perspective. A great benefit of EMBA programs is the chance to network and form relationships with peers from various industries. Students are at a career phase when a fresh perspective is valuable but sometimes hard to obtain. These programs don’t target career changers but are increasingly used by and open to them, even though most EMBA programs don’t offer formal recruiting.
EMBA programs are also lucrative for schools – schools charge a premium for their EMBA program – but they are typically smaller than full-time programs. These programs are commonly held every other weekend and tend to be less generous with financial aid than their full-time counterparts. Three full-time programs that target the same audience as EMBA programs are , MIT Sloan’s Sloan Fellows, and LBS’s Sloan Fellows.
Pros
- Can apply to learn immediately at work, gaining breadth of exposure at a pivotal professional moment, a valuable credential
- Students bond well with their cohort and the faculty.
Cons
- The challenge of managing school plus a demanding career and personal/family responsibilities; usually no formal recruiting for career changers
- Students rarely interact with either part-time or full-time students.
For EMBA admissions advice, check out EMBA: The Ultimate Guide for Applicants.
Online MBA Programs
Online and hybrid MBA programs have surged in popularity in an ever-evolving education landscape, particularly for individuals aged 32-37 (too old for traditional programs, too young for EMBA), offering flexibility and accessibility that traditional MBA programs cannot match. While there are many ways to deliver the MBA experience online, I focus here on the two major categories, synchronous and asynchronous.
Synchronous online MBA programs closely mimic the traditional classroom setting, in which students and instructors interact in real time. Classes are scheduled at specific times, requiring attendees to log in simultaneously for live lectures, discussions, and group work.
Pros
- Real-time interaction
- Structured schedule
- Networking opportunities
Cons
- Less flexibility
- Time zone constraints
- Limited accessibility for those with other commitments (e.g., work, caregiving)
Asynchronous online MBA programs allow students to access course materials, lectures, and assignments on their own schedule – and sometimes at their own pace – without the need for live participation.
Pros
- High flexibility
- Accessibility for all, regardless of time zone, irregular schedule, or other commitments
- Sometimes self-paced
Cons
- Lack of interaction
- Requires self-discipline
- Delayed feedback for responses to questions or assignments, which can disrupt the pace
Specialized graduate management programs
These programs offer an MBA course focusing on a specific industry or function. They vary in their format and approach. Boston University’s Full-Time Social Impact MBA is an example of a two-year specialized MBA, and the Executive MBA in Healthcare at the University of California, Irvine, is an example of a specialized EMBA. The Cornell Tech MBA is an example of a one-year specialized MBA.
Pros
- Intensive focus on an area of interest, with coursework adapted accordingly, and a network of colleagues with related experience and goals
Cons
- Missing out on the diverse perspectives from other industries/sectors that can refresh and invigorate your thinking
Although you usually can’t apply to two different types of MBA programs at the same school in the same admissions cycle, you can do so in other cycles. And you can apply to different types of programs at various schools simultaneously. For example, someone who is between a regular and an EMBA in terms of age or length of experience could apply to regular MBA programs that trend older, EMBA programs that trend younger, and/or online programs. Or someone might apply to full-time MBA programs and a part-time program nearby as a good backup.
By Natalie Grinblatt, a former admissions dean/director at three top business schools. Natalie has reviewed more than 70,000 applications, interviewed more than 2,500 candidates, and trained nearly 700 admissions directors and alumni volunteers to select outstanding candidates for admission. Her clients gain admission to top programs, including those at Harvard, Stanford, Wharton, MIT, Cornell, Columbia, Berkeley, Chicago, Northwestern, and NYU. Natalie holds an MBA from Michigan Ross. Want Natalie to help you get Accepted? Click here to get in touch!
Related Resources:
- EMBA: The Ultimate Guide for Applicants
- ROI and NYU’s Part-Time MBA, podcast Episode 552
- MIT Sloan: For Rising Executives Considering an MBA, podcast Episode 563