MBA with a Family

You want to get your MBA but family obligations seem to be in conflict? Some advice on getting your MBA AND being a great mom or dad. Here is some food for thought.

If you have a family, a Full-Time MBA is actually a BETTER option (and may be more do-able than you think).

It seems pretty natural to think, I have a mortgage, kids, etc. – being gone weekends and evenings is your only option. But consider this:

• Evening and weekend programs have very little scholarship money. With work experience and good scores, your chances of getting a really good scholarship and maybe even a full-ride, are pretty attainable – depending on the programs.
• An evening or weekend program (while working) means you are away from your family during the day for work, generally at least 2-3 nights per week and often some of your weekend. That leaves very little time for your family!
• Our students have told us that if you consider your degree to be a job, it is possible to “work” a regular 40 hour week. Although you have to have some flexibility for project meetings, etc. these students show up at 8:00 AM and they are at work (even if class doesn’t start until afternoon) and at 6:00 they wrap it up. Like in a job, exceptions apply, but it is doable to get your MBA and not spend any more time away from your family than you do now.

If you do decide to enroll in an MBA program for working professionals, time management is the key.

Competitive Professional MBA programs are generally 2-3 years in duration – much more of a marathon than a sprint. This means you have to create a schedule that is manageable for a long time. A few pieces of advice:

• Better to go slow than try to take too many classes at once. Why? It’s very simple. You aren’t trying to just get a degree as a check in the box. You are trying to learn. There is a difference between studying to get the grade and really digging into the material and understanding it – maybe even applying it at work. I see too many students rush and when a topic or an opportunity comes along that they are really interested in, they can’t afford the time. They study enough to get by and on to the next subject.
• The one great benefit of the professional MBA is that you can apply what you are learning at the very time you are learning it. This not only helps you learn the application, but it shows those around you that you are capable of doing projects outside of your regular scope of work.
• Figure out what you want to get out of your degree as soon as you start. There are many opportunities given to you based on your status as a student that you may not be given later. Take this opportunity to fill in those gaps in your resume and get in front of people you may not be able to otherwise.

Don’t make the decision whether to go full-time or part-time until you know the cost.

How can you make that decision if you don’t know the numbers? Even if you aren’t sure if you can make it financially – take the plunge. It doesn’t hurt to hear what a school can offer. Only then, can you put pen to paper (is that even still an expression?) and crunch the numbers. Most schools will allow you to just move your application to the professional MBA if you decide it’s not a go.

One last piece of advice – ask the school to connect you with two current students. The first should be a mom/dad in the professional program and the second should be a mom/dad in the full-time program. Talking about their experiences may help you make the best decision.