• Tue, Feb 28 2012

12 Questions You Must Ask Yourself Before Applying To Business School

Would any local part time programs better serve my goals and financial needs?

This may be the solution for those who really feel getting an MBA is essential to their career butsimply cannot afford it.  The number of students enrolling in U.S. part-time MBA programs rose by 18% between 2002 and 2011, according to data provided by The Association to Advance Collegiate Schools of Business. Additionally, the number of students enrolled in part-time executive MBA programs, designed for students with significant professional experience, jumped 60 percent from 2002 to 2011. The past year alone showed an increase of 5%  in student enrollment in part-time MBA programs and 15% for part-time executive MBA programs. That’s in contrast to two-year, full-time MBA programs, two-thirds of which reported decreases in applications in 2011 compared with 2010, according to the Graduate Management Admission Council.

Mini-MBAs are also rising in popularity. According to BusinessWeek, these “quick-hit” business education programs, commonly referred to as “mini-MBA” programs, have proliferated at business schools across the country in recent years. Rutgers was the first school to do this and coined the term mini MBA with a 12-week “no-frills” program they did. The classes, which typically range in price from $2,000 to $4,000, are designed for middle managers who often don’t have a business background or MBA, but want to get a better grasp on business essentials to help them progress in their careers. They also frequently serve as a testing ground for people who are not certain they want to invest the time or money in an MBA, which can take two years or more and cost upward of $100,000. But the mini MBA is NOT an MBA. “You do not get the letters MBA after your name and you do not get to use it on your CV in anywhere other than “training courses,” according to WiseBizz.

Though it may seem like the best of both worlds going to school and working takes even longer than going to school full-time and is just as expensive.

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