Anna Hyclak: Pros and Cons of Doing a Part-Time MBA vs. a Full-Time MBA (Part 4)
Anna has followed in the footsteps of some of the world’s best and brightest in becoming an LBS alumna. As a former Googler, Anna faced the difficult challenge of juggling her EMBA and her tech role during the pandemic. Lendwise is proud to have supported Anna in her life-changing journey and achieve a dream milestone.
In the fourth of a five-part series, Anna will discuss the pros and cons of choosing a part-time MBA programme instead of a full-time MBA programme.
If you’re considering doing an MBA programme, one of the big questions on your mind right now is probably: “Should I do a full-time or a part-time programme?” For me, it made sense to do a part-time programme, but the choice really depends on where you are in your career and what your goals are. Here are a few pros and cons of going the part-time route.
Pro: You get to immediately apply what you learn in class in the real world.
For me, one of the coolest parts of doing a part-time MBA programme was getting the chance to learn about something on Saturday and immediately put it into action on Monday. Many of the classroom discussions and assignments are designed to give you time and space to reflect on your experiences in the workplace and the challenges you face at work, especially in management and strategy-focused courses. This allows you to make important connections between the course material and your own situation at work, and learn by doing rather than just by reading.
Con: You have to split your time – and focus – between school and work.
As discussed in my last blog post, one of the more challenging aspects of doing a part-time programme rather is achieving the right balance between school, work, and other priorities. With a full-time programme, you can focus 100% on classes, assignments, networking, and getting the most out of your MBA experience. With a part-time programme, you’ll have to be more selective about the electives you take, the events you attend, and how much time and energy you give to your studies rather than your job.
Pro: You’ll get to know everyone in your cohort really well.
The full-time MBA programme at London Business School typically has around 500 students per cohort, while the part-time Executive MBA programme has around 50 students per cohort. This gives you the opportunity to really get to know everyone on a more personal level, and build a real sense of community with your entire cohort. Additionally, because the group skews a bit more experienced (14 years of work experience on average vs. 5 years for a full-time MBA student), you’ll learn just as much from your fellow students as you will from the professors.
Con: You won’t have the full immersive social experience of the full-time MBA programme.
Because they’re dedicated to school full-time, MBA students at London Business School have more social trips and events, from happy hours on campus to Snow Trek skiing holidays. While these are technically open to all students, the happy hours often start before the end of the workday, and the trips require additional time off from work, which means they’ll mostly be dominated by students from the full-time programme. Being a part-time student means frequently having FOMO when you hear what the MBAs are up to!
Pro: You can continue working – and making money – while you take classes.
A big pro of doing the part-time programme is the ability to continue earning money to pay for the programme while you take classes. MBA programmes aren’t cheap, and I don’t think I would have been able to take the temporary hit of paying for a full-time MBA programme and taking a massive salary cut for a few years.
At Lendwise, we understand the importance of an MBA. It can help you advance your career, earn a higher salary, and achieve your professional goals. But we also know they can be expensive.
We also understand that everyone’s journey is different. Whether you’re applying for a part-time or full-time MBA, the loan can help you achieve your goals. When you’re ready, you can *apply online. We’ll help get on the path to success.
Representative Example: Assumed borrowing of £30,825 over 120 months at 12.73% APR representative. Monthly cost of £509.26. Total amount repayable of £61,199.65. Interest rate of 11.62% p.a.(fixed) and total fees of £925.00. Available for loan amounts between £5,000 – £100,000.
(Representative Example date: October 2024)
*Credit is subject to status and loan approval is not guaranteed. Over 18’s only. T&Cs apply.
