These days, the idea of attending school full-time to obtain a masters degree can be daunting, especially if you have bills to pay, a job that you are reluctant to leave and a family to raise. All of these factors must be taken into consideration when you’re thinking about furthering your education. What if you can have your cake and eat it, too? Obtaining an MBA may be easier than you think.
What is a flexible MBA?
A flexible MBA usually combines traditional classes with online or distance education delivery methods, allowing you to continue working while taking classes towards your master’s degree. Many flexible MBA programs will allow you to take as many (or few) courses as you can handle and provide you with a longer period of time to complete your master’s degree. Courses may be offered weekends and evenings, on campus or online. In short, the word ‘flexible’ says it all- you have the opportunity to fit your education around your schedule so that you can continue working if you desire.
There are many advantages to these types of programs, but there are some disadvantages as well:
Advantages
- You can keep working while taking classes towards your master’s degree.
- You can take classes on a full- or part-time basis.
- You can graduate with your master’s degree in as little as two or as many as seven years (depending on the school you choose).
- A flexible MBA tends to attract more women than traditional MBA programs, simply because it is so flexible.
- Allows people who live in smaller centers to obtain their MBA from a world-class business school without having to relocate.
- Students who are able to continue working while attending school can apply what they are learning to a ‘real world’ working environment.
- Still a big commitment, no matter how flexible.
- Costs are only reduced if you accelerate your learning efforts and get the degree done faster.
- Less opportunity to network with peers than in a traditional program where your entire class graduates in the same year, which can be a huge benefit while attending school (i.e. making contacts, having others to share ideas with).
- Less face time with faculty/professors.
- May offer less electives.
Disadvantages
If you’re thinking about pursuing a flexible MBA, you will need to weigh the pros and cons carefully before making your decision. If it’s helpful to know, more and more of the prestigious business schools (Johns Hopkins, Wharton’s, University of Washington and others) are offering flexible MBAs to prospective students, particularly at a time when the economy is on a downturn. The success of these programs will likely mean that more and more schools will offer flexible MBAs as a means of staying competitive and luring students. Many currently available accelerated masters degree programs offered online also provide a good deal of flexibility in course scheduling and work load.