Practically every single day I get a couple of e-mails with the following query: 'I am working with XYZ company as a software engineer/ BPO executive/ something-else but fed up with it. But for ABC reasons I cannot do a full-time MBA. What is your opinion of part-time MBA? Can you recommend a good one?'
And some put it even more bluntly: Please give all the information about MBA part time and 'crosspondance' courses. The funny bit is they write this after reading this piece written by me on precisely the same subject.
While my overall assessment of part-time courses remains the same it has been close to three years since that was published. So, here is an update for those still looking for answers. 'To Do Or Not To Do: The Part time Puzzle' was published in Businessworld's annual 'Mega Indian B-School Guide' earlier this year.
As readers of this blog were an important source of feedback and the guide has been out for over six months now, I am sharing with you my findings. Besides, I really can't reply to each of you personally -- answering practically the same questions!
Why does the Leaning Tower of Pisa lean? Why is George Bush such a clown? What is the secret of eternal youth? These are mysteries which may yet remain unsolved. But there’s one puzzling question I do have some answers to.
'Should I do a part-time MBA?' is a subject weighing on many minds. Assuming you can’t -– or don’t wish to -- give up your job to pursue a full-time course, is it worth spending time, money and effort on? Given that no part-time or distance courses offers placements, will it offer a tangible boost to your career?
The answer is: it depends. Part-time courses definitely lack the prestige factor of full-time MBAs. But choose carefully and you will reap benefits.
When Zubin George joined JBIMS’ three-year part-time MIM (Masters in Information Management) he was a developer with Innovative Systems. He’s now moved to Citigroup’s information technology division in a management role. And he has no regrets. “The quality and depth of learning was far greater than what I would have got from a full-time course," says George. "The kind of questions raised and the quality of answers from the faculty were outstanding." In other words, more practice than theory -- direct application value. That must be why, despite the gruelling after-work and weekend timings the classes had a healthy attendance statistic of 65-70 per cent.
Managing work and studies is always the dilemma for the part-timer. The PGPSEM (Post Graduate Programme in Software Enterprise Management) offered by IIM Bangalore is no exception. Thirty-three-year-old Abhinav Agarwal completed his PGPSEM in 2006. “There are students who manage to excel at work and get straight As but then something’s gotta give. Their personal life suffers."
Classes are held on every Friday and Saturday but there are also weekly tests and of course, assignments. Is 2.5 years of this self inflicted stress worth it? "Yes," asserts Abhinav. “Over 500 of us have completed the PGPSEM since it kicked off in 1998.” Unfortunately, no formal survey has been conducted to assess its co-relation with individual career growth. But anecdotal evidence suggests many direct and indirect benefits. “I was a product manager with Oracle,” says Abhinav. “I am now a Principal Product Manager. And yes, I do believe the PGPSEM has accelerated the process.”
There are many interesting twists that PGPSEM has introduced in some careers. Arun Narasani, also from the batch of 2006, started ‘Brain League’, an intellectual property services company. The company was incubated at IIM Bangalore’s Nadathur S. Raghavan Centre for Entrepreneurial Learning or NSRCEL.
Another student who was working with Oracle when he entered the PGPSEM program, joined venture capital firm Kleiner Perkins midway. He is now a vice-president at a mobile applications company funded by the same VC.
“Besides what you learn in class, I definitely see a networkng effect,” says Abhinav. “You meet a hundred-odd people from outside your company and your immediate line of work." That’s certainly an aspect of the 18-month executive MBA at SP Jain that Siemens engineer Rashmi Das enjoys. Interestingly, she is based in Bangalore but travels to Mumbai once every 10 weeks for the 10 days of classroom contact sessions. The rest of the time course delivery, quizzes and assignments are conducted online.
Rashmi is extremely pleased with the faculty, the quality of case studies and group work. One semester into the course she says, “Meeting people from other companies and altogether different industries has broaded my perspective.” It’s a similar story with Sunil Malik, Senior Manager Public Relations and Corrporate Communications at XIM Bhubaneshwar, after he enrolled in the broadband assisted long PGCBM (Post Graduate Certificate in Business Management) offered by his own institute.
While Sunil happens to be on the XIMB campus, other participants log in from Reliance centres in their respective cities every weekend. Assignments and quizzes are conducted online, and so are ‘end-term exams’. The highlight of the 12-month course is a seven-day campus visit during which participants meet and interact on the XIMB campus. As far as impact on career goes, the immediate effect can’t always be pin-pointed but participants are confident of a boost in the longer run.
Akhil Agarwal, a CA rankholder and a CS to boot, was part of the inaugural batch of the XIM PGCBM (2005-06). Midway through the course he switched jobs (from Reliance to ICI Paints), with a significant shift in role and salary. But this, he believes, is a break he would have got whether or not he enrolled in the XIMB course.
His classmate Shekhar Rao, however, attributes his mid-course job shift within the telecom industry to his enhanced qualification. “I am getting double the salary today and a responsibility for which ‘an MBA’ was a necessary requirement.” The XIMB name, he says, definitely helped tip the scales in his favour. “Besides, I learnt a lot from the course itself." And additional benefit: he can refer back to professors for advice and mentorship on problems.
The verdict then is clear: a part time programme from a brand name institution does have its value. Although ‘official’ placements may not be part of the deal, the informal network does contribute to a career boost. While part time MBAs don’t command the same kind of respect as full-time ones, some companies do value them more than others. Case in point: 20-25 per cent of the 2006 PGPSEM class comprised of Wipro employees. Infosys also actively supports the program and recently helped IIMB expand it to Chennai.
Says Rashmi, “If you are working in the regional development centre of an MNC, a part-time or executive MBA may not have that much value. But it will really help you in an Indian software company, particularly product managers.” She also believes that one should have 5-6 years of experience and be extremely self-motivated to truly reap benefits.
Much also depends on the attitude of your company. Around 50 per cent of students in part time courses like PGPSEM are sponsored. But it’s not clear how many companies are simply using their sponsorship as a retention strategy, and how many have actually chalked out a post-MBA career path for their employees.
Of course, none of these courses come cheap. While the three-year Bajaj course sets you back by Rs 1 lakh, SP Jain’s executive MBA costs Rs 2.65 lakhs (excluding travel cost to Mumbai for contact sessions). XIMB’s broadband aided PGCBM is Rs 1.5 lakh for 12 months. Similar certificate courses are also offered by XLRI, IIM K, IIFT, NMIMS etc in collaboration with VSAT provider Hughes Direcway.
In conclusion, ‘cause and effect’ are palpable but not always as tangible as in the fulltime programme. But the very act of stretching onself, of seeking knowledge and opening up to new ideas and opportunities is what perhaps makes a difference.
Speaking of success in terms of ‘formulas’, a participant on an online MBA forum obseves, “Whenever a chemical reaction happens where A mixes with B to produce C, this catalyst helps speed up the process so that C is produced sooner... The catalyst CANNOT alter the chemical reaction to produce D instead of C”.
Given quality raw material, a good part-time MBA could be that career catalyst.
Why Part-time MBA Courses
Correspondence courses do not provide face-to-face teaching, which is very very essential for any course. Until and unless one faces regular exams, clarify doubts from teachers, the sense of ownership can not come. That's the reason why online courses could never become popular anywhere in the world.
As there is growing need for MBA professional, working executives and organisations are realising the importance of part-time MBA. There would be more and more MBA professionals in India, and this would become a necessary requirement to reach to the top level of management. So it is essential to understand the real value of such courses in terms of both learning and monetary perspective. Both are important.
Leaning perspective has already been discussed. Talking about monetary benefits, the comparison is done for monetary gains and loss compared to full-time. A normal two-years experience (minimum requirement for any part-time course in India) executive would be earning around 3 LPA. Some guys earn even more and some guys less. Taking this figure as base for two years, the total amount is 6 LPA (discounting the increase in salary over years and also increase in money by time value of money concept). This was opportunity cost for leaving job and going for full-time course. Also, the actual cost of doing MBA is generally around 3-4 Lakhs (could cost more including the interest to be paid on loan, cost of staying in hostel, food, etc.). Overall, the cost comes around 10 Lakhs. And yes, don't forget the loss in experience for the 2 years!
So all the working executives who go for full-time courses have to answer this question. Is it really worth paying such huge amount? I hope this would bring some clarity towards such courses.
This article is not to demean any other management courses but to give the part-time course its due importance, which it truly deserves. And also clarifying what is the objective of such courses and how is it comparable vis-�-vis other management courses. I hope that students would be in better position to decide what and which management course will suit their requirement.
Got the part-time MBA blues?
here are two kinds of MBA students -- those for whom the course is a dearly loved wife, and those for whom it's a secretly cherished mistress.
The first kind are devoted to their course full-time. Getting this far involved a fairly long and hard battle (entrance tests, interviews, GDs!) against thousands of other suitors. Hence the object of their desire (the coveted MBA seat) is placed on a pedestal and accorded due respect in society.
The second kind of student is already married -- to a full-time job. Yet, somehow, this individual steals precious time and energy for the course -- evening, weekends.
Like most extramarital activities, this one too arises out of certain unfulfilled needs and desires. Unlike a real wife, the Boss can't forbid the pursuit of this passion, but can and often does frown upon it. Making life all the more complicated.
The sad truth about part-time MBAs
It's sad but true -- a part-time MBA just does not command the same status as a full-time one in this country. A host of extremely respected institutes offer one-, two- and three-year part-time MBA diplomas and degrees. Yet, the students who opt for these courses do not emerge with the same halo as those who take up the two-year full-time post-graduate programmes.
The first cruel fact you have to accept if you're thinking of a part-time MBA is this: it is unlikely to swiftly and painlessly enhance your immediate job prospects. There is no lucrative placement offer waiting for you, like the proverbial 'pot of gold 'at the end of the rainbow. And this is true, even at the brand name institutes.
The B-schools justify the lack of placement opportunities by pointing out that those pursuing the part-time MBA already have jobs. In fact, the pre-requisite for practically all part-time MBA courses is two-three years of work experience, preferably in an executive or supervisory capacity. Part-time MBAs are thus positioned as career-enhancement programmes designed to make the participant more effective in his or her current organisation.
The truth, however, is that the individual who chooses to do the part-time MBA is essentially seeking better prospects. 'Better' may variously defined as a shift from a smaller company to a larger one, or from software to marketing. Essentially, there is a sense of stagnation in the current workplace/ job function and an MBA appears to be the 'way out'.
The candidate is hoping that with the part-time MBA he gets to have his cake… and eat it too. Instead of enrolling for a full-time course and forgoing two years of salary, (as well as shelling out at least Rs 4-5 lakhs as fees), why not do a part-time MBA? Especially when most institutes claim it is equivalent to the regular MBA in terms of coverage and curriculum. Well, the logic is impeccable but things don't quite work that way.
That's not to say a part-time programme adds no value. But do be realistic. You are never really going to be considered 'at par' with the full-time grads so don't expect investment banks or the Hindustan Levers of the world to welcome you on board because you've got FMS or JBIMS on your resume. The unstated assumption you will encounter: 'Only folks who couldn't make it to the (more competitive) full-time MBA join the part-time course.'
The 'children of a lesser God' theory may also manifest itself at alumni meets. It's a different thing that any Indian who attends even a one-month program at Harvard refers to himself as a Harvard 'graduate' on his biodata!
Personally, I think that if companies actually picked up part-timers they might find them to be more dedicated and a lot more street smart than regular MBA graduates. And be pleasantly surprised by the absence of 'we are the cat's whiskers' vibes. But, until they start taking that chance, the part-timer will have to view the MBA primarily as a stepping stone in the quest for self development. And the pursuit of knowledge.
What is a 'good' part-time MBA?
Separate rankings of part-time MBA programmes in India [ Images ] are unavailable. But I'd say generally, part-time programmes follow the same pecking order as the full-time ones. So, in Mumbai [ Images ] it's Bajaj [ Images ], followed by S P Jain, NMIMS, Welingkar, Somaiya, Chetana (in that order). In Delhi [ Images ], FMS, MDI and IIFT would be your best bets. Similarly, Loyola (Chennai), IIM B (Bangalore), IIM C (Kolkata [ Images ]) and so on.
This isn't a comprehensive listing. The general criteria is -- try and hitch your wagon onto a brand name school. Not only are their courses more structured, but the participants are generally more serious. And the 'chhaapa' [stamp] will add value to your CV in the long run.
The second criteria to look for is selectivity. Programmes which are more choosy (as opposed to admitting everybody who applies!) are always more respected. At JBIMS, for example, 1,000-odd students compete for the 60 available seats in the three-year part-time Masters in Information Management course. Of course, if that fact (and the course itself) was better publicised, it would boost the brand image of the part-time MBA significantly!
The next question you have to ask is -- how high is your motivation and energy level? The three-year part-time programme leading to a degree is the most rigorous and thus (generally) adds the most value. But can you spare two-three hours every evening and/ or weekends (that's just the classroom bit -- there are projects and presentations too)? Not everyone can handle the stress!
Tip: Do make sure the location and timings make sense to you. Or you'll end up missing/ reaching late for a lot of the classes.
Some institutes like XIM B and IIM Indore offer a part time 'Executive Post Graduate Programme'.
Here, you get a mix of distance and campus learning. XIM B's three-year programme requires participants to reside in the campus for 15 days at a time, thrice a year. The IIM Indore course is spread over 18 months and you will have to schedule study visits at the beginning and end of each of the six terms.
The downside: You pay almost as much as the full-timers (IIM Indore Exec PGP costs you a cool Rs 4 lakhs) but, no, you don't get to participate in the campus placements.
An option worth looking into is the satellite-aided MBA. Thanks to V SAT technology, you can attend real time, interactive classes at a DirecWay centre in your city. Classes are beamed from IIM Kozhikode, IIM Kolkata, XLRI Jamshedpur and IIFT Delhi among others. Durations vary from 10-18 months and involve campus visits. Expect to shell out between Rs 75,000 to Rs 1.5 lakhs, depending on the course and the institute.
You may be a bit taken aback by the fact that you get only a 'certificate' from IIM C, K and XLRI but there is a valid reason for it. The two-year full-time 'MBA' they award is a diploma!
If none of the above appeal to you, there are plenty of 6-12 month diplomas offered by dozens of chhotu-motu B-schools. Many of these are quite 'flexible' when it comes to exams, projects and presentations. You won't have to slog that hard but you won't learn (or add much value) either. So I'd definitely be wary of shelling out big money (Rs 30-40,000 per semester kind of fees) for an 'additional qualification' that won't be taken seriously.
The 'sponsored' MBA
Some companies actually 'go the distance' and sponsor their employees' MBA. In fact, certain institutes such as FMS Delhi take in only sponsored candidates while S P Jain prefers them, as the course is designed in a manner which requires a lot of organisational support and input. At the very least, many part-time MBAs require a 'no objection' certificate from employers!
One industry that's certainly not objecting (rather, encouraging!) is the software sector. In fact, IIM Bangalore's three-year PGP SEM (part-time post-graduate programme in Software Enterprise Management) has been specially developed, in conjunction with industry, to cater to this need.
The only downside to doing a sponsored MBA is that some companies ask you to sign a bond. It's only fair from the employer's point of view but can be a bummer if you do feel the urge to 'shop around' later.
In terms of 'rewards', there are three distinct possibilities once you complete your course:
a) Your current company is enthusiastic about your enhanced skills.
If your MBA is employer-sponsored, this is a given. You'll be seen as an investment that is bearing fruit! Improved salary, designation and a new role in the company is what you can look forward to.
b) Your current company is indifferent.
It could be your company doesn't give a damn or, perhaps the people who matter just haven't noticed. Be prepared to 'sell' yourself. If your MBA has really added value, it should soon be evident in your performance. Hopefully leading to the 'break' you were looking for.
c) You switch jobs.
A radical shift to a whole new sector is possible, though rare. A lateral jump in the industry where you actually have experience is more likely. Wondering where to begin your search? Your own classmates -- working at different companies -- could be a great source for leads.
How does a part-time MBA help?
In fact, the network of professional contacts you will establish is as (or even more valuable!) than the theories and concepts you learn. All of which should ultimately help you 'see the big picture' or what's driving the business as a whole. It's best not to expect toooo much, though. After years of actual experience, the formal study of management is not going to throw up too many of those 'a-ha' moments. If anything, part-timers might find what they study to be too theoretical and removed from reality!
So the one most important thing the programme will do is get rid of the awe with which you might currently be viewing MBAs in your company. In fact your whole 'paradigm' will shift as you 'leverage' your own 'core competency' in spouting management jargon.
On a final note, the divide between full-time and part-time is something like the erstwhile Berlin Wall. The day it is brought down (and eventually, I believe it will!), the part-time student will look the full-timer in the eye.
And -- to borrow a famous phrase once uttered by John F Kennedy [ Images ] -- declare with justified pride, "Ich bin ein MBA".
Part time MBA vs. Full time MBA? Which one to choose?
I have received few emails on whether one should go for part time MBA or full time MBA? and whether part time MBA can boosts someone’s career or not etc..
Here are my thoughts:
Part time MBA
If you have substantial work experience [more than 6 years] in the industry and if you plan to stick to the same industry, go for part time MBA.
But at the same time, make sure that you enroll in a A grade college.
All said and done, part time MBA is not seen in the same light as full time, but a good college/brand name will suffice for that. And the reality is that it’s almost impossible to shift career 180 degrees using your part time degree.
Full time MBA
If you are a fresher or have work experience of less than 2 years, I strongly suggest you to go for full time MBA. Also, if you are looking for a career shift [let's say from IT coding to sales/marketing], this is the right time to make that change.
After having stayed in the industry for 4+ years, doing a full time MBA/and a career shift, will most probably erode all your previous work experience benefits. And of course, it will hurt your ego to be treated as a fresher [thats a reality, accept it or not!].
So what are the things you should take care of in part time MBA programmes?
Keep in mind the following points if you are attending a part time MBA programme:
• Maximize your learning. Learn ways to implement the classroom studies in your workplace. For e.g. if you are attending a marketing course, make sure that you speak to marketing folks in your company [even if they you hate them] and get their insights. Real value of a part time MBA lies in implementation and not the theoretical part.
• Network, network and network. Most of the part time courses are attended by execs and chances are that they will bring a very rich experience to the classroom. Use that. Network as much as possible. I am aware of few CxOs attending part time MBA courses. Build relationships with these guys. They can provide you the springboard you have been looking for.
• Know what to expect - No matter where you do your part MBA from, know what to expect from the course. Few companies have clear policies to not treat part time MBAs on the same lines as full time, irrespective of the college/brand. Accept these. Honestly, there is nothing that you can do about this. Manage your own expectation by exploring opportunity with companies which have no issues with part time MBAs [typically mid/small sized].
• During the course of your MBA, network with the team that you wanna get into. For e.g. if you want to shift to Marketing/Product Management, build relationship with those folks in your company.Remember that you don’t get a crown just because you have completed your MBA. You need to convince your company that “you can handle’ the new role.
• And while you are studying, make sure that you do your office assignments very well. ‘If you perform well, you get a good referral from your boss and that will serve you to switch easily to your desired role. But if you are not a great performer, why would somebody take that risk by assigning you something which you have never done? Reputation plays a very big role, my friend.
• Last, but not the least – have tonnes of patience. Part time MBA may not help you achieve instant nirvana, and you might need to struggle to achieve the desired role/responsibility [true for full time as well].
Institute | |
Course Name & Duration | MBA 1 Year |
Approx Fee | 15 Lakh |
Eligibility | Graduate, Work experience desirable |
Selection Process | GMAT Scores Plus Personal Interview |
Res./ Non Residential | Residential |
Institute | Indian Institute of Foreign Trade - IIFT |
Course Name & Duration | MBA(International Business) – 3 Years |
Approx Fee | 0.85 Lakh |
Eligibility | Graduate with 3 years experience (Company sponsorship or No Objection Certificate) |
Selection Process | Essay, GD and Interview |
Res./ Non Residential | Non Residential |
| Institute | XLRI |
| Course Name & Duration | Satellite Programme in Management – 14 Months |
| Approx Fee | 1.8 Lakh |
| Eligibility | MBA, Managerial / Supervisory experience Minimum 3 years experience |
| Selection Process | Interview |
| Res./ Non Residential | Non Residential |
| Institute | XLRI |
| Course Name & Duration | Satellite Programme in Management – 14 Months |
| Approx Fee | 1.8 Lakh |
| Eligibility | MBA, Managerial / Supervisory experience Minimum 3 years experience |
| Selection Process | Interview |
| Res./ Non Residential | Non Residential |
| Institute | XLRI |
| Course Name & Duration | Satellite Programme in Management – 14 Months |
| Approx Fee | 1.8 Lakh |
| Eligibility | MBA, Managerial / Supervisory experience Minimum 3 years experience |
| Selection Process | Interview |
| Res./ Non Residential | Non Residential |
| Institute | XLRI |
| Course Name & Duration | Executive Post Graduate Programme– 3 Years |
| Approx Fee | 3.05 Lakh |
| Eligibility | Graduate and Minimum 3 years experience |
| Selection Process | XAT Test & interview |
| Res./ Non Residential | Residential |
| Institute | XLRI |
| Course Name & Duration | Graduate Management Programme – 1 Year |
| Approx Fee | 2.25 Lakh |
| Eligibility | Graduate and Minimum 3 years experience |
| Selection Process | XAT Test & interview |
| Res./ Non Residential | Residential |
| Institute | Jamnalal Bajaj Institute of Management studies (JBIMS) |
| Course Name & Duration | MBA (Part-time) - 4 programmes with different specialization – 3 Years |
| Approx Fee | 17000 per annum |
| Eligibility | Graduate and Minimum 2 years experience |
| Selection Process | Test , Group Discussion & interview |
| Res./ Non Residential | Non Residential |
| Institute | FACULTY OF MANAGEMENT STUDIES (FMS) |
| Course Name & Duration | MBA (Part-Time) – 3 Years |
| Approx Fee | Rs 10,000 p.a. |
| Eligibility | Graduate, Minimum 3 years experience – Employer Sponsorship Required |
| Selection Process | Written Test and interview |
| Res./ Non Residential | Non Residential |
| Institute | IIM |
| Course Name & Duration | Post Graduate MBA Programme (Part Time) - 3 Years |
| Approx Fee | 1.5 Lakh |
| Eligibility | Graduate (50%), Minimum 2 years experience |
| Selection Process | Written test, GD and interview |
| Res./ Non Residential | Non Residential |
| Institute | IIM |
| Course Name & Duration | 19 Programme for Executives - 1 Year |
| Approx Fee | varies |
| Eligibility | Varies |
| Selection Process | Varies |
| Res./ Non Residential | Residential |
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