Part-Time vs. Full-Time MBA: Which Should I Choose?

A master in business administration (MBA) degree is one of the most popular degrees you can get right now. According to a June 2022 Statista study, 97% of employers hired MBA graduates.

If you’re looking for a desirable degree option, MBAs prepare you for leadership roles across marketing, management, technology, artificial intelligence, and more. But earning an MBA doesn’t always have to mean sacrificing work and time with your family for school. Many universities offer part-time MBAs. For greater flexibility, you can even earn your degree online or on a hybrid schedule.

The best program type for you depends on your priorities. Part-time MBA programs typically take longer, and might include night and weekend classes. Full-time MBA programs might be faster, but offer less flexibility and balance.

Read on to see which type of program works best for you and the differences that might lead you to take one over the other.

Schools have responded to the popularity of MBA programs by providing additional options for flexibility and customization. In addition to traditional, full-time programs, many schools offer part-time, weekend, and online MBA programs that allow more students to realize their educational goals. The details of each program can vary, as discussed below.

The typical MBA student brings about 3-6 years of professional experience to the classroom, and learners tend to be in their late 20s; however, these trends vary somewhat depending on the program type.

Students seeking full-time programs often have less professional experience. Some of these learners may enroll in graduate school immediately after earning their bachelor’s degree.

Part-time students often have ample professional business experience. Many students pursue an MBA as part of a career change after earning an undergraduate degree in another field. Experienced professionals may also seek an MBA to move into management positions within their field.

Most MBA degrees require 36-40 credits. Business courses, electives, and capstone experiences offer participants the chance to explore new topics and build new skills.

Full-time students typically graduate in 1-2 years. Additionally, some schools offer fast-track programs in which students complete some of their MBA requirements while still enrolled as an undergraduate. Learners may take summers off or use that time to complete an internship.

Part-time students often take 1-2 classes each term. Some schools may offer academic credit for professional experience. Part-time students may need three or more years to complete their degree, depending on their course load.

Most schools offer a standard business core that all MBA students complete. Learners can expect to take courses like operations management, data analytics, and managerial accounting.

Full-time students may enjoy more options when it comes to choosing electives and concentrations. They can also use school breaks to take part in experiential learning. The academic calendar often follows a traditional 15-week semester, though some schools offer shorter accelerated terms.

Part-time programs, including executive MBAs, may include night and weekend classes. Some schools organize students into cohorts, in which learners move through the curriculum together in lock-step. Part-time students may have fewer options for concentrations or electives.

The cost of an MBA program depends on how you take it (online, hybrid, or on-campus) and how much time you dedicate (part- or full-time). If you’re looking for affordability and flexibility, online MBAs are typically cheaper than in-person programs.

A full-time in-person MBA costs an average of $46,660, while an online full-time MBA costs over two times less, at $22,670.

However, if you’re looking for a part-time MBA, there isn’t too much of a difference in cost. The average part-time in-person MBA costs $16,874, while the average online part-time MBA costs $16,000. An in-person MBA may also come with other unseen costs like transportation, parking, and campus fees.

Part-time MBA programs are best suited to working professionals who want to continue working full-time. They usually offer flexible enrollment options, such as night courses, weekend classes, fully online courses, and asynchronous courses.

Part-time students typically take one to two more years to complete their MBA than full-time students, and since part-time students pay per credit hour rather than per semester, it may be more expensive in the long run than a full-time program. However, unlike full-time students, you can work full-time and continue funding your education.

Your company may even sponsor you to earn your MBA while working, cutting off many expenses. You may not qualify for many scholarships reserved for full-time students, so asking your company if they can help fund your education can take monetary pressure off.

Your company may pay for your education because you’ll be able to utilize your new skills in the workplace as you learn them.

Full-time MBA students take a more traditional approach to education and usually stop working entirely or work at least part-time in their careers while pursuing an education.

If you have the time, money, and dedication to study full-time, it could save you more in the long run since you will pay per semester instead of per credit and finish sooner than a part-time student.

Full-time programs also open up accelerated options. In an accelerated MBA program, you can shave off time from the typical one to two years to complete the program.

Some downsides of a full-time MBA are that you stop your career for a few years while you complete the program and will have fewer real-world experiences to which to relate your studies. Budgeting your time, personal, and family life may also get tricky, especially if you decide to hold a part-time job. Although you may not have the income you would if you were to do a part-time program, you may qualify for more scholarships to ease your financial burden.