Flexible Study: Is a part-time MBA worth it?
Nicole Green finds out what business schools are doing to capitalise on the demand for more flexible courses
THE PERCEPTION of part-time MBAs is changing, as increasing numbers of leading business schools provide more flexible options to their students. Once seen as a less credible alternative for those unable to commit to a full-time course, they are now viewed as robust, intensive and full of opportunity.
As competition for senior roles increases, the decision to leave full-time work to further your professional development can be a difficult one to take. But for many, studying for a part-time MBA while still in full-time work gives the best of both worlds.
As Nicola Simpson, programme director of the London Business School Executive MBA (a part-time course aimed at executives with 10-12 years’ experience), says, “the higher up the career ladder you get, the harder it becomes to reach the next level. But giving up your career while studying is not always an option, especially if you are mid-career.
“Gone are the days when learning stopped in your 30s, 40s or even 50 plus. Learning is now life-long… Studying in a flexible format that allows you to work at the same time can have huge benefits, and not just at the financial level.”
RAPID APPLICATION
One of these benefits, according to professor John Colley of Warwick Business School, is the opportunity for students to immediately apply what they learn to their own workplace. “Students often gain the opportunity to move up the managerial ladder and into executive roles, while applying their knowledge straight into a real business setting.”
For many choosing an MBA, the networks and connections they build can be one of the most valuable benefits, and Simpson is keen to highlight that part-time students gain just as much from these networks as those on full-time courses. “You develop your cross-sectoral executive network, which is a life-long career investment,” she says.
Colley agrees: “[Part time] MBA students are like other MBA students and several of the modules see distance learning, executive and full-time MBA students come together. They have the opportunity to build contacts through their MBA cohort and, for our students, the alumni network we have at Warwick Business School is over 50,000 now. The network is a great opportunity to explore new business ideas and develop novel products and services.”
INTENSE STUDY
Far from being a “light-touch” way to complete an MBA, the need to balance both study and work in a flexible setting can bring its own challenges. At London Business School, the course requires executives to undertake 20 hours of study outside of the classroom on a weekly basis.
Simpson says: “There is no difference in intensity. Executives cover the same amount of work each week, just alongside their day-to-day career.”
And according to Colley, the idea that it is a less intense way to study is far from the truth. “Combined with working full-time, the Executive MBA still presents a very intense schedule for participants. In fact, they will need to ask their company for support in giving them time away from work to study.”
EMPLOYER SUPPORT
Fortunately, many firms do offer to support employees who wish to study an MBA or EMBA. In many cases, the business will sponsor the student to undertake the course. “For a business that is paying for the MBA,” says Colley, a part-time MBA “is a real advantage as students are required to do a consultancy project, solving a business problem that their organisation is facing.”
As business schools invest more heavily in flexible options for students, and employers begin to see the benefits they can bring to their business, it seems part-time MBAs will only become more popular. In fact, Simpson makes clear that, while the decision about which course to undertake is still an important one, students shouldn’t be concerned about studying part-time.
“A great MBA will develop you, personally and professionally. Both the [par-time] Executive MBA and the full-time MBA are equally valuable. What matters is choosing the cohort and format to suit you.”