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Part-Time MBA in India

Introduction

Management education in India is becoming more popular in recent years. Now-a-days being an MBA is regarded as an added advantage. Any qualification coupled with an MBA degree enhances one's job perspectives. Today’s young professionals consider MBA as a stepping stone in their career.

Economy has changed all the social and economical scenario of the world. It’s an era of multi-nationals. Multi-nationals are coming and picking up the best possible talent to run their businesses smoothly. Students of new generation want to use it at its fullest, to be a part of this, to understand the business better. MBA is the easiest way for them. Not only younger generation but experienced and mid-career professionals are also opting for MBA just to give a kick to their existing career.
But is it reasonable to put your existing career on hold and go for a full-time MBA? Is it worthwhile? It all depends upon a person’s personal choice, his/her career aspirations and other factors related to him/her. Full-time MBA will require complete devotion, full days' time and rigorous research work, which is not possible with a full-time job.
If you are ready to take risk, you could certainly go for a full-time MBA, but if you are not, and still imagine yourself as a budding corporate professional, part-time MBA is the right choice for you. Through part-time MBA, one can expand his/her knowledge base. Part-time MBA can also present one with new opportunities along with existing career.

Advantages of Part-Time MBA

Part-time MBA programs were specifically designed for those working professionals who need to work and study at the same time. Some of the advantages of part-time MBA are: -

1. Classes are scheduled in the evening mostly, so one can study and work simultaneously. It does not interrupt the routine of normal working life and gives an opportunity to avail a new qualification with the existing job.

2. New skills can be developed without interrupting existing job. You can enhance and update your present knowledge base.

3. Students have an opportunity to incorporate real-life situations and problems into the classroom where immediate solutions to these problems could be explored.

4. Students can apply theoretical knowledge of classroom at their workplace and can see the effects immediately.

5. Financial help may also be available.

6. Cost of study is spread over a longer period of time.

7. If your employer reimburses your tuition fee, part-time MBA is an ideal choice for you.

8. You can easily go for your classes even if they are held far away from your place once or twice in a week, as it is manageable, while daily classes are not.

9. Because you are working, regular flow of income is there. This leads to less debt as compared to full-time. Arranging the money will not be a big problem because you have a regular source of income. Most of the MBA courses cost around 3-4 Lakhs, and with a job in hand, you can manage that expense.

10. There is a lot of flexibility in part-time courses. You can vary course load in order to concentrate on a particularly difficult course, and then take a heavier load later with less intensive courses.

11. You could be considered a hard working and dedicated person by industry people because you are managing two tough lives together, i.e., studying and working. Therefore, chances of promotion are more as compared to others. In some organizations, having an MBA degree is considered an added advantage, and thus, increasing your chances of promotion.

Disadvantages of Part-Time MBA

1. Part-time MBA programs usually take two to three years to complete, but may take up to five. For such a long period, tuition assistance may not be available.

2. Only some selected schools offer part-time MBA programs. Your choice is limited. You may be required to attend a school that is not your first choice.

3. While doing part time MBA one has to be under tremendous pressure. Because in the morning, you are working, and attending classes in the evening. It will create double stress.

4. Student prefers doing MBA to be a part of industry, but industry does not give much credit to part-time MBA.

5. Market value of part-time MBA is less as compared to full-time program.

6. Generally, part-time students are not allowed to participate in on-campus recruitment. So if you have a job, well and good, but if not, you have to struggle more than your full-time counterparts.

7. Usually, part-time MBAs do not have very intimate bonding with their classmates or peers. Networking opportunities in future are less.

8. If you have a field job or touring job, you may feel difficulty in completing part-time MBA.

Criteria for Selection of Institute
Before selecting any institute for your part-time MBA, you should consider the following points: -

1. Brand Name: Try to select a school with a high reputation in the industry. These institutes have structured syllabus and provide accurate education. Moreover, their name can add weightage to your resume.

2. Credibility: Select a course in which admission is granted to only eligible and qualified students, which means there should be some criterion for selection. Don’t go for a course in which everybody who applies gets admitted. This will decrease the credibility of the course and harm you in the long run.

3. Location: Check out for the location of the institute you wish to join. It should be within your easy reach so that you can attend classes easily after a hectic day's work.

4. Timings: Timings of the classes should suit you. Whether classes are in the evening or on weekends, you should be able to attend them without being late, and on a regular basis.

5. Expenses: Before selecting any institute, think about your budget. Gather all required information related to the course, like total course fees, fees per semester and other expenses. Spend your hard-earned money wisely. Evaluate each and every point carefully and then take a decision.

6. Eligibility Criteria: See the eligibility criteria of the institute to check whether it suits you or not. Eligibility criteria for most of the institutes are graduation with 2-3 years of work experience.

7. Admission Process: Admission process of the institute should neither be too complicated nor too simple. Admission procedure in most of the institutes includes a Common Written Test (CWT) followed by Group Discussion and Interview. Applicants who qualify the CWT are called for GD & Interview. On the basis of these three, final selections are made.

Institutes Offering Part-Time MBA

Some of the institutes offering part-time MBA for working professionals are listed in the table below: -

Institutes and their Websites
1.Nirma Institute of Management, Ahmedabad

2.IIM Bangalore

3.IIM Kozhikode

4.Lal Bahadur Shastri Institute of Management & Technology, Bareilly

5.XIM, Bhubaneswar

6.FMS, Delhi

7.Birla Institute of Management Technology, Delhi

8.DMS, IIT Delhi

9.Indian Institute of Foreign Trade, Delhi

10.FORE School of Management, Delhi

11.Institute of Management Technology, Ghaziabad

12.ICFAI Business School, Hyderabad

13.IIM Indore

14.Vinod Gupta School of Management, Kharagpur

15.IIM Calcutta

16.T A Pai Management Institute, Manipal

17.National Institute of Industrial Engineering, Mumbai

18.Shailesh J. Mehta School of Management, IIT Bombay

19.Jamnalal Bajaj Institute of Management Studies, Mumbai

20.Narsee Monjee Institute of Management Studies, Mumbai

21.Prin L N Welingkar Institute of Management Development & Research, Mumbai

22.S P Jain Institute of Management & Research, Mumbai

Source: www.indiabschools.com

Some other institutes offering part-time MBA are - Goa Institute of Management (GIM), Goa; Institute for Financial Management & Research (IFMR), Chennai; Great Lakes Institute of Management, Chennai; Xavier Institute of Management & Entrepreneurship (XIME), Bangalore; etc.

Conclusion

On the final note, part-time MBA may not be considered as credible as full-time MBA, but it will be beneficial in the long run. Applicability in case of part-time MBA is much more than full-time because you have the opportunity to apply your theoretical knowledge at your work place and can see the practical application in a short time. Biggest advantage of this type of study is that you get to learn at your pace and without disturbing your fixed schedule. Part-time courses are becoming more and more popular because now people are understanding the importance of these courses and with the ease they could be completed. Now it’s time that part-time MBA gets its due recognition and respect from the industry.