I sometimes wonder if candidates would actually be better off doing a part-time MBA at fancier school, vs a fulltime MBA at a somewhat less-prestigious b-school
My understanding is that the part-time MBA programs at Berkeley (Haas), Chicago (Booth), Northwestern (Kellogg) and NYU (Stern), are much easier to get into that the corresponding fulltime programs. And it doesn’t seem that employers etc really distinguish between the two.
It doesn’t matter except for recruiting. If you want on-campus recruiting to switch careers or jobs, go full-time.
I have watched coworkers who do PT at Stern literally joke about what a joke it is… from the super dumbed-down exams, to poor quality of students that don’t give a damn and just want an “MBA”, to the high exam-curves.
If I saw work overlap with MBA, auto dinged.
Seems part-time MBAs are a lot like full-time MBAs. Though minus the beer pong, presumably.
Serious question: If you become a CFA, obtain the job you want without a FT MBA is there any benefit to the PT one? From my understanding of MBA programs the knowledge isn’t really what you go for. So would you consider a PT MBA if you already had CFA and a job you liked?
No. your best course of action is to kick ass at your job. don’t bother wasting time on a PT MBA
What if someone is just doing part-time work during their MBA? or an internship? is that acceptable, or must the person completely cut off any other sources of income and benefical experience during an MBA in your eyes?
I worked my way through a part time hacksaw program. I went slow enough that my employer covered the entire cost, but I also maintained half time student status in order to keep my undergraduate loans in deferrment and keep the subsidized interest payments coming. 4 years of basically treading water on my student loan balances without needing to make a payment* allowed me to almost completely pay off my house. The MBA will open 0 doors for me in a career sense, but it was a great way to gain financial flexibilty to 4 years. My only regret was that the hyperinflation that I heard so much about never kicked in while my wife and I were dragging a quarter million in fixed interest debt around.
*-I serviced the unsubsisdized interest each month
I have five R2 apps into three of the M7 and two others in the Top 10 range for FT programs. My employer isn’t sponsoring me. Of course, I’m looking to change careers so a PT program was not really an option for me.
If I matriculate this fall, I view it as paying for the recruiting options that will be available to me in 30 months. I’m not willing to part with that much dough for a “top regional school” unless it’s a PT program after I’ve made a lateral move from my current position.
I applied early decision to one of the m7 and got dinged. I took a step back and thought about it. Is 100k+ debt worth the recruiting? I might change my mind next year, but I decided to halt this for now. I also realized I don’t want the 80hr/week grind lifestyle which these programs set you up for (or so it seems). Can I ask what your goals are post MBA and what you do now? I felt very strongly about taking that path and haven’t closed out the option yet. I’m just curious because it sounds like you and I may be in a similar boat. I wish you the best on the apps/interviews
I do not have an MBA, never made sense for me. I don’t know too much about part time, but in the same genre I have seen people successful with executive MBA provided they went to Penn or Columbia (or Columbia/LBS co-op). For the people I know that did these, it did give them a network of senior professionals and somewhat legitmized them in the eyes of their (rather large) firms for higher level management roles.
Right now, I work in business valuation at a small shop in the New York area. Because it’s small, there’s little room for career growth (there is one title between mine and the president) and, quite honestly, it’s depressing to envision myself doing bval for the next 30-40 years. I’m not knocking it - it’s just not for me.
My immediate post-MBA goal is consulting at one of MBB with a focus on financial services and ultimately parlaying that experience, and the CFA charter, into a position at a HF (or PE). Since I have every intention of moving on from my current post, I’m also currently pursuing positions in consulting and the buyside. I have two January interviews lined up at two of the Big 4 consulting firms as an experienced hire, and one at a HF. My primary aim would be to secure one of those positions.
The roles that interest me most in the long-term are all filled by MBAs. I need an MBA to get where I want to go in the future. Since I’m ready to move on at all costs, if Plan A fails (the three interviews), Plan B will be bschool and an MBB gig.
The investment is extremely intimidating - I agree completely. With payback periods averaging 4 years and career trajectories that look nothing like mine does now, it eases the anxiety. That, coupled with the fear that my current career path does not match my ambition makes the decision a little easier.
If I’m being honest, I’d likely pursue BB IB after bschool if I wasn’t married. Management consulting is slightly more palatable for my wife as she’s pursuing similar roles.
If you don’t mind my asking, what do you think led to your ding in R1? You have a competitive profile and tight story? If it’s the school I think it is (early decision), I’ve found that they’re much bigger prestige whores and more swayed by politics than many/any of the other M7s. That said, it’s made my list!
“You miss 100% of the shots you don’t take.” -Michael Scott
CBS. I have a below average GPA for these schools (3.3) without any prestige to really back it. I think my profile is competitive, but when I’m 100% honest with myself I f’d it up not my profile. I went to some pre-application events, made a good impression, got an interview with admissions before even applying, but I didn’t come prepared. I used the opportunity to ask questions about the school and not sell myself. I should have been more aggressive. So if you get the jobs at the interview do you go PT at that point?
I seriously underestimated the level of preparation/research necessary to be write good essays and perform well in interviews and likely would have done exactly what you did in the beginning. It was just dumb luck that I found some direction and got my head in the game in time to write essays and kill an applicant-initiated interview.
If I get an offer from any of these interviews, then I’ll probably look into PT in the near future. Of course, that’s subject to change as I plan to see this R2 application/interview process through til the end. I’m not pissing away $1,250 in app fees.
@cgottuso - sounds like youre in a similar position as myself - get the charter, ideally find another job, but if not, go f/t to an MBA program - so basically at all cost, know that my current position is just not going to cut it anymore - do you think the CFA l3 helped you with the interview processes/getting your foot in the door? Also, did you purposely plan to go in this order (get the charter, job search/mba apps) or did you just recently realize you want to pursue other opportunities (after the charter)?
I always knew I wanted to pursue an MBA at some point but I envisioned a PT program. This was only because I had no idea about the world of FT programs and the opportunities available. The way things worked out were more coincidental than anything. It was at about the start of L3 studying that I realized I wasn’t going to get where I wanted to go so I surveyed my options and targeted FT MBAs - I would apply after the World Cup following the completion of L3. I wanted top tier or nothing at all, but after more and more research, I realized how badly I wanted an MBA. I still went with top schools, though, as my profile proved fairly competitive.
CFA was a talking point at the one bschool interview I went to, and I didn’t need to bring it up. It was a group event (6 people including myself) and one of the admissions officers knew I was a charterholder, brought it up, and it was sprinkled into conversation throughout the day. I was worried the CFA would be of no help, but I’m convinced it’s a tiebreaker, at minimum. Adcoms know about it and respect the work involved (even if they don’t know exactly how rigorous it actually is).
For the consulting and HF positions, I think I passed the resume screening this time because of the designation. However, I don’t expect that it will help me any more. At this point, it’s going to come down to my interpersonal skills and what I’ve done on the job.
Have you submitted apps for R2, aiming for R3, or just beginning the process for next fall? If I recall, you’re a L3 candidate, so I’ll assume you’re applying next fall.
This has been exactly my experience and also what I’ve witnessed in the industry or with colleagues making moves. The consensus on AF seems to be that the charter will not help you but the reality is that it helps you get the interview and from there on in you’re on your own. Makes perfect sense.
Hats off to you guys pursuing an MBA after getting the charter. The UK marketplace doesn’t value MBAs as highly as North America so thank god no more exams or studying for me.
If you need an MBA to get over (even a top 2), rusty hacksaw.