Money, time, family and work are the four cards that we must consider when we decide to take an MBA. The point is how we balance them to decide if we pursue a full time, part time or online MBA and whether or not we add a double degree.
While the full-time program is full-time, the part-time has face-to-face classes designed to attend after working hours . And while the online MBA is being studied via the web, double degree more than a type of MBA is a feature that can have a full time, part time or online. It refers to when the same program delivers degrees from two business schools, usually a local and an international one. What to decide? Next we review the pros and cons of each one.
Full time MBA
Advantages: it is the main program among the different MBAs. It is designed for those who are able to leave their work to dedicate themselves to the program, even changing country. In this format, the classrooms are characterized by having students from different countries and cultures, so if you are looking cosmopolitan touch is the best option. In addition, generating this network of contacts opens the option to your foreign students to settle in the country after the MBA.
On the other hand, being full time allows you to focus completely on the program . Living with the peers, generating solid networks and achieving greater results. "In the full-time MBA, participation and commitment are incomparable," says Elaine Tavares, vice-dean of COPPEAD's full-time MBA.
Disadvantages: if you have a family and a settled career it is difficult to stop working or change the lifestyle or the country of residence. Even more so if the period is one or two years. "The opportunity cost is very high and the return is not always positive," says Luis Silva, director of the ORT Uruguay MBA.
As for academics, the highly demanding of a program that leaves little time off and the inability to practice what is learned are the main difficulties. "The full time MBA does not allow the practice and rehearsal of the concepts learned in the real field ," confirms Aldo Aszyn, director of Latin America Finance Operations of The Coca-Cola Company and MBA of ORT Uruguay.
In addition, after the MBA the time lost in the labor market must be retaken and the speed or slowness of this will depend largely on external factors. "There may be difficulty in retaking professional development if the labor market is stagnant," explains Sonia Zurita, academic director of the ESPAE-ESPOL MBA.
MBA part time
Advantages: the part-time MBA is taken for two or three years, with face-to-face classes that are held after working hours and during weekends. Therefore, it allows you to continue with your own career, something especially valuable for professionals in important positions who do not wish to leave . "They are the best option for consolidated professionals," says Marcelo Véjar, an MBA student at Adolfo Ibáñez University. In addition, by combining studies and the labor market, it allows to develop the tools that the program delivers in the work environment itself. Added to this is bringing real challenges to the MBA, enriching the debate.
Disadvantages : sometimes in the labor market it is considered less competitive than a full time. "The participation and commitment of the students are not the same as those found in a full-time program," says Tavares, of COPPEAD. In addition, dividing the time between work, MBA and family can collapse some students. "In a part-time MBA the participant's attention must be shared, which has a negative impact on learning," says Luis Silva, director of the ORT Uruguay MBA.
MBA online
Advantages: online MBAs are conducted remotely, without having to travel and are flexible in their schedule. "The online MBA can be interesting for someone who is not able to go to a classroom, someone who for example does not have flexibility in their work," says Elaine Tavares, COPPEAD. In addition, with the rise of distance work, studying online is increasingly less remote from a real work environment and provides more facilities than a full time or part time to continue with daily activities. "It motivates the use of different communication and collaboration schemes, which are necessary in a world where physical distances are no longer important," says Sonia Zurita, academic director of the ESPAE-ESPOL MBA.
It is also effective for students who want to obtain specific competences, without all the networking attributes of a face-to-face MBA. " It is valid for those who are looking for some concrete tools to apply in their companies, but who are not very interested in the study process , or in the final value of the degree," says Daniel Budasoff, MBA from Universidad Torcuato Di Tella.
Disadvantages: studying online requires a high organization of times so as not to lose the rhythm or leave the course. In addition, this format lacks one of the most valued aspects of an MBA in the long term: the experience of sharing directly with other students and directly generating contact networks. " Concepts are learned, but the behavioral perspective is lost, " says Tavares, of COPPEAD. "Because the interaction with students and teachers does not come close to what happens in a regular course," he adds. Another problem is that their social validation is still very low compared to a full time or part time MBA, in addition to the teacher-student relationship is more distant.
Double Degree
Advantages: it refers to the same MBA that allows having a degree from two business schools, usually a local and an international one. Therefore, it allows generating extensive contact networks. "They are an excellent alternative, since in my case it allowed me to generate a network of contacts not only locally but also globally," says Cecilia Hernández, who is currently pursuing an MBA at ORT Uruguay and a Master in International Business at Florida International University. , through a double degree program. Hernández's case exemplifies how a double degree program does not necessarily mean obtaining two MBAs, but can include a master's degree added to the MBA.
In addition, having the name of the two schools in the curriculum is also a double letter of introduction. This, in addition to the advantage of having complementary subjects between both programs. "It can give access to skills that might not be in the local market," says Salvador Córdova, MBA from EGADE. Another advantage is that they can include experiences of international exchange , allowing us to know different cultures without the wear and tear of traveling full time
Disadvantages: it can happen that the title that is added to the MBA is that of a school without an important prestige. "It is essential that before a double degree in itself, the student is set on the quality and reputation of the international body , " says Jorge Tarziján, full professor at the Catholic University of Chile. "A double title of a not great prestige makes no difference, but it can become a negative sign for the student , " adds Tarziján.
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