Earning an MBA can mean taking an enormous step closer to achieving your career goals. With a median starting salary of $115,000, an MBA is among the highest paying graduate degrees. It’s also an incredibly versatile degree, helping to provide students with skills necessary to excel in a wide range of management careers.
Many of the people who need these skills the most are working professionals with busy lives, which is why you can find numerous options for earning a part-time MBA. But what is the difference between a part time MBA vs full time MBA? How does an executive MBA and a part time MBA compare? Determining which executive MBA program is best for any given individual will depend on weighing a variety of factors, which we’ll consider below.
Part Time MBA vs Full Time MBA
A full time Master’s in Business Administration program is an academic program that traditionally takes around two years to complete. It’s primarily intended for students with little career experience, such as someone who has only recently completed their undergraduate degree. The immersive nature of these programs can be advantageous for students who are able to take time off work, but full time programs typically mean time spent not earning or developing career experience.
A part time MBA involves learning the exact same skills as a full time MBA. That includes taking courses from the same professors, covering the same curriculum, and so forth. The biggest difference is that the part-time MBA is intended to be more flexible by offering course schedules appropriate for working professionals. (If that sounds challenging, it may be worth learning more about how to fit an online MBA into your life.) Apart from being able to continue earning while you study, another benefit of the part time MBA is that you can immediately apply what you learn to your work for real-time benefits.
If you’re unwilling or unable to take time away from a career, a part time MBAs can be an excellent opportunity to advance professionally without a hiatus. A part time MBA for a senior executive will usually make more sense than a full time MBA, while a full time MBA can make more sense for someone who’s less established in their career.
EMBA vs Part Time MBA
In regards to the curriculum and student experience, an executive MBA and part time MBA are virtually the same. The primary difference between an executive MBA (EMBA) and a part time MBA is primarily about student demographics; the age and career experience of the students in each program.
Those who are seeking an EMBA are overwhelmingly established professionals with at least a decade of work experience. Part time programs are more commonly students with 5 or fewer years of work experience since graduating. The right MBA for experienced professionals can be both the part time MBA and EMBA. But if you have a decade or more of experience building your career, you may find more peers in an EMBA program.
Being able to do the program online makes it possible to advance during your downtime, enabling you to pursue the program anywhere you’ve got an internet connection. The flexibility of learning online has helped students find countless ways to fit an online MBA into their lives.
The Best MBA for Leadership
An MBA is a versatile degree. But if you have specific career objectives, specializing your MBA can help you make the most of your education. According to a PayScale report, the highest earning MBA specializations focus on strategy and general management – the core competencies of leadership.
Recently National University has partnered with the Center for Creative Leadership (CCL) to bring together a uniquely versatile-yet-specialized Master of Business Administration program focused on educating the next generation of business leaders. Utilizing experts and expertise from both institutions, the leadership MBA has a strong emphasis on hands-on experience addressing real-world problems.
In the LMBA, students learn to assess, practice, and apply new skills while growing leadership ability. Understanding that leadership has the potential to transform organizations, communities, teams, and other relationships, the LMBA prepares students for the strategic planning necessary for effective leadership in the business world. Some foundational components of this program include:
- LMBA 601 Introduction to Leadership
- LMBA 602 Data-Informed Decision Making
- LMBA 607 Corporate Finance and Financial Structure of an Enterprise
- LMBA 610 Organizational Design and HRM
- LMBA 612 Leading Across Boundaries
- LMBA 613 Strategic Leadership
Designed for working professionals with busy schedules, the LMBA program can be completed in as little as one year; and students can choose to take one course in a 4-week format or three courses in a 12-week format. The entire program can be completed online, granting incredible autonomy over scheduling. Every student is assigned a faculty mentor, tutoring is available for most courses, and smaller class sizes ensure you can work closely with faculty. In short, this program is designed to do everything possible to help students succeed at their own pace.
Earn your MBA with National University
Sometimes students are best served by pursuing a degree that allows them to specialize in a niche, like financial management. Other students may want to pursue a degree that has versatile applications. For many, the LMBA represents the best of both worlds. With no GMAT requirement, National University’s LMBA program provides a flexible alternative to traditional programs without requiring you sacrifice the quality in pursuit of convenience.
National University also has MBA programs accessible to part-time study with numerous other specializations, including Bank Management, Marketing, Organizational Leadership, Supply Chain Management, International Business, Accounting, Professional Skills, Mobile Marketing and Social Media, Human Resource Management, Integrated Marketing Communication, Financial Management, and Management Accounting. Learn more about your options by exploring our MBA program information.
Additional Sources:
MBA Earnings:
https://www.northeastern.edu/graduate/blog/highest-paying-masters-degrees/
MBA Specialization Pay: