Part time MBA programmes come across as a saviour for individuals who cannot pursue full time programmes due to lack of time or resources. To bridge the persisting knowledge deficit, we are offering comprehensive and current information on all keys aspects of the format.
Part time MBA is seeing an upward trend, lately. An increasing number of individuals serious about solidifying their growth prospects are taking up the part-time MBA format and realising their career goals. That said, the knowledge gap still persists. Ask your friend about the nitty-gritty of part-time courses, and he is more likely to cut a sorry figure. With this write-up, we intend to come to the rescue of all individuals who lack information on part-time courses and hence, are reluctant to embrace them. Your feedback is anticipated.
What is Part-time MBA?
Masters of Business Administration (MBA) aims to create future business leaders by equipping students with essential skill sets. As an MBA pursuant, you will be enhancing your communication, business and management skills besides gaining insights into varied business processes. Like the majority of students, if you too happen to pursue MBA as a regular student, you will spend a significant part of your campus time in attending classes and working on assignments as part of peer groups. However, part-time programs help you acquire the same skill sets but in a convenient and flexible fashion. Presently, all top B-schools and universities allow you to opt for either weekend or evening classes as per your convenience.
Likely Candidates for Part-time MBA:
Given the flexible format, part-time learning is a feasible option for individuals facing the shortage of time and capital required in regular programmes. Since the classes are conducted on weekends and evenings purposely, you can strike a balance between job obligations and learning. Putting it simply, you need not quit your existing job and choke the income stream, which takes care of your expenses. This accounts for part time format’s popularity among working professionals. Part time degree is providing the desired leverage to entrepreneurs and business leaders who wish to take their businesses to the next level as well. The format’s significance for homemakers wanting to enter labour markets cannot be undermined.
Yet another contributor to the growing part-time MBA deluge is the variety of specialisations on offer. Usually, all prominent B-schools and universities cater to the specialisation needs related to operations, finance, IT, retail, general management, accounting, aviation, sales and marketing and human resources. Additionally, you are at liberty to opt for specialisations in international business, import and export, biotechnology, infrastructure and development, in addition to the hospital, health care, telecom and hospitality management.
Another glaring disparity between part-time and full-time programs is the course fee. Being a lot more cost-effective, the former does not ask you to stretch your education capital. You can avail a part-time degree by spending anywhere between Rs 40,000 and 9 lakhs. On the contrary, full-time programs offered by top institutes require a budget of over 20 lakhs. With part-time format, your income stream will remain lively, which helps you provide for your family and dependants.
One of the drawbacks of part time courses is the lack of placement assistance. Unlike full-time courses, B-schools will leave you to fend for yourself in the labour market. However, as the part-time deluge is growing, B-schools are revisiting their placement assistance policy and making it more proactive and the degree-holder friendly.\
Why is Part-time MBA Gaining Popularity?
Earlier, individuals lacking time and resources to pursue regular MBA programmes often considered giving up their degree aspirations for good. With a convenient and flexible format, part-time courses changed the status quo. In the present scenario, individuals are acquiring new skill sets via part-time format and using them to advance their existing careers.
Learn to Multitask:
Besides aiding lateral growth, the part-time courses allow learning while earning, which comes across as a big plus for working executives and entrepreneurs. As a part-time degree holder, you gain proficiency in multitasking – a trait that is in demand in labour markets world over.
Apply Skills in Real Time:
Working professionals pursuing part-time courses have a competitive edge over their counterparts pursuing full-time ones. They can apply the newly acquired skill sets to their day-to-day operations and enhance their efficacy and productivity significantly. You can seek answers to real-life situations in the classrooms and develop a problem-solving mindset, which is crucial for gaining favour from the recruitment community, as well.
How to Get a Part-time MBA in India:
The part-time MBA programmes’ eligibility criteria are similar to that of the regular ones. A graduate degree from a recognised university, irrespective of the discipline, is a requisite. The minimum score requirements are subject to the university’s policy. Usually, it is anywhere between 45 to 50 percentile. Your scores in GMAT or GRE are also a yardstick for enrollment and accessing the desired specialisations. The university you intend to pursue your degree from may ask for a personal statement, recommendation letter and resume prior to enrolment. However, diploma mills are coming to the rescue of individuals who are motivated to secure a degree but are averse to the idea of sitting for entrance exams. Herein, precaution is recommended, as University Grant Commission and other authenticating bodies do not recognise most of them.
Where to Look for a Part-time MBA Programme:
The alma mater’s credentials will play a key role in determining your job prospects. Thereby, opting for courses offered by reputable universities is preferred. As of now, part-time formats offered by Indian Institute of Management campuses in Lucknow, Calcutta, Ahmadabad, Indore and Bangalore, along with Management Development Institute, are in great demand. However, if the course fee is beyond you, considering programmes from other reputable institutes, including Faculty of Management Studies, Jamnalal Bajaj Institute of Management Studies, Indian Institute of Foreign Trade, L.N. Welingkar Institute of Management Symbiosis Institute of Business Management Pune and Bangalore, make sense.