Get Your M.B.A. Part-Time Part 2

There are so many factors involved in addressing the "Will they pay for it?" question, including the size of the company, your role within the organization, and the amount of time you've been working there.

Will They Work with You?"Because our jobs are so demanding, most managers are looking for full-time employees, not part-time employees. However, there are some exceptions. If an individual who has worked full-time is requesting a part-time schedule, the firm usually works with them to try and accommodate their schedule if they have a good track record. All regular full-time employees at my company are eligible for a tuition reimburs.e.m.e.nt program of $1,000 per year for tuition and books."- Manager of employment at a multinational firm in Seattle, WAHow big is your company?

If you are employed at a small company that does not have a tuition reimburs.e.m.e.nt policy, size can work to your benefit. Perhaps they can be more flexible with their rules, make an exception in your case. Or, they may be willing to give you an additional "bonus" to a.s.sist in the payment of your expenses. Remember that any nonreimbursed work-related expenses can be claimed on your income taxes. Ask your tax accountant for more information.

Where do you fit in within the company?

Does your job require a great deal of interaction and group projects, or are you a "solo" worker? If you have constant contact with others, ask around and see if anyone has obtained a degree on a part-time basis. How did they go about asking at work? Depending on your work environment, you may want to discuss these matters outside the office (at lunch or over a drink, perhaps). Your colleague may be more comfortable and receptive to helping you and giving you insight if you're at an offsite location.

How long have you been employed?

If you are a recent hire, it may be premature to discuss whether or not the company would financially support your M.B.A. pursuit. Even if this issue was discussed in your interview, don't be surprised if your boss is taken aback if you suggest that you are ready to start your application process when the first paycheck hasn't cleared yet!

No one is indispensable, but . . .

Maybe you are lucky enough to be in a bargaining position at work. If this is the case, even if your firm does not offer tuition reimburs.e.m.e.nt, they may be willing to make an exception-just this once.

Once you have evaluated your employment situation, consider doing the following: * Read your policy and procedure manual or human resources booklet that describes your benefits. Is their mention of a tuition reimburs.e.m.e.nt program? Are you eligible?* Informally talk to colleagues and casually broach the subject.* Talk to friends and family who are currently employed in similar industries. What is their company's policy?* Prepare a formal letter of request to your boss, with a copy for human resources. In this letter, explain why you wish to obtain an M.B.A. degree, detail the program(s) you are interested in pursuing, and identify the timeline for admission and completion of the degree.* If you have a close relations.h.i.+p with your boss, go to him or her first. Show that you have done your research, and explain your timeframe and game plan. Remember, it is much easier to shoot down a proposal when it is not well thought out. Ask for his or her advice regarding the next step. Have your written request on hand should it be requested.* If you do not feel comfortable approaching your boss, ask for a confidential appointment with your personnel director. A word of caution: If your company does not offer a tuition reimburs.e.m.e.nt plan, do not expect any flexibility on behalf of the human resources team. They are required to enforce the rules of the company. If you are requesting an exception to be made on your behalf, go directly to the people empowered to change the rule or exempt you from the policy.

Whew! Your family, friends, colleagues, and boss are behind you as you embark on your pursuit of the M.B.A. degree. Now you must start your search for the perfect fit. The next section will help you choose the right school and program for you and help guide you through the brochures and literature you will need to filter through. If you do your research properly, the desirable program is out there for you. The lesson to be learned is that there are as many programs as there are schools.

* Remember that most schools will permit you to waive a course if you have taken it within the last 5 years and have received a "B" or better. This is not a universal rule, but a general guideline. Check with your school.

PART TWO.

Selecting the Right School and Program

CHAPTER 5.

Evaluating Business Schools.

Now that you are quite determined to take the plunge into business school, it's time to start thinking about the most effective ways of finding the right school and program for you.

HOW TO FIND OUT ABOUT SCHOOLS.

Since you are applying to a part-time M.B.A. program, your selection of schools to attend will be limited by your location and current job restrictions. But how is the best way to start your research?

Friends, Family, or Work It's possible that a family member or friend has already been through the process. If this is the case, pick his or her brain; ask what helped him or her determine which school to attend. Keep an open mind, and remember that what works for others-even your sibling or best friend-doesn't necessarily work for you.

As far as work is concerned, unless you are setting a precedent, someone must have led the way before you. Perhaps your employers have a listing of schools for which they authorize tuition reimburs.e.m.e.nt. Check your human resources manual or ask to speak confidentially with someone in the personnel office. If you are the first in your office to break this new ground, congratulations-you've achieved quite a bit already! Be sure to check out the next two points, as your B-school investigation will most likely be based on reputation and/or pure research.

Reputation/Word of Mouth Depending on where you live, you may have only a few options. Unless you reside in a vacuum, you are most likely aware of the universities in your city or town. Which ones are perceived as the best?

Research In the back of this book, you'll find a geographical listing of all schools offering Part-Time M.B.A., Executive M.B.A., and Distance Learning programs. This is a great place to kick off your B-school search. Also, you can do a little browsing on the Internet. There are several sites out there (for example, www.gmac.com) that list neighboring schools with M.B.A. programs. Request brochures and read through them carefully-but don't judge a book by its cover. The school with the nicest brochure and the snazziest website is not always the best selection for you!

Internet InfoCheck out www.mbainfo.com, a global M.B.A. Program Information Site where you can get the email address to correspond with schools and obtain feedback on 2,500 M.B.A. programs from current students and graduates.

HOW TO SELECT THE RIGHT SCHOOL.

As a part-time B-school candidate, who, more likely than not, will continue to work on a full-time basis, you will be limited in your options. When selecting which schools to apply to, your decision will probably be based on several factors, including inst.i.tutional and professional accreditation, location, programs offered, ranking, faculty, and facilities offered.

Accreditation An important determination in selecting a program and school is whether or not the inst.i.tution is accredited. Currently, there are so many different agencies that accredit colleges and universities-12 in all!-that the pertinent question to ask is whether the Council on Postsecondary Education (COPA), the authorized ent.i.ty that recognizes the accreditation agencies, accredits them. Though the nature of their organization remains the same, COPA has since been dissolved in lieu of the Commission on Recognition of Postsecondary Accreditation (CORPA), which, in turn, has been replaced by a new agency called the Council for Higher Education Accreditation (CHEA).

What MattersGreg Gomez, Director of Admissions at Southern Illinois University-Edwardsville, identifies the most important criteria to consider when selecting a school:* Travel and location* Schedule of cla.s.ses* Transferability of undergraduate courses* Company tuition reimburs.e.m.e.nt* Career services and job placement* Evening or weekend options* Size of cla.s.s and teaching methodologies* Accessibility of the faculty* Admissions requirements* Accreditation of program COPA had originally approved six regional accreditation agencies: the New England a.s.sociation of Schools and Colleges (NEASC), the Middle States a.s.sociation of Schools and Colleges (MSASC), the Northwest a.s.sociation of Schools and Colleges (NASC), the North Central a.s.sociation of Schools and Colleges (NCASC), the Southern a.s.sociation of Schools and Colleges (SASC), and the Western a.s.sociation of Schools and Colleges (WASC).

Although the six regional agencies are separate and distinct, they retain essentially the same standards. A prospective student should understand that the regional accreditation bodies sanction the whole inst.i.tution and not just some individual parts of the university. What this means is, the university as a whole whole is accredited, and not the M.B.A. program specifically. is accredited, and not the M.B.A. program specifically.

The Professional World Chimes In The Professional World Chimes In In addition to this regional accreditation bestowed upon an entire inst.i.tution, professional accreditations exist that look solely at the quality within a particular discipline. There are two organizations in the United States that accredit business schools. One is the American a.s.sembly of Collegiate Schools of Business (AACSB). This not-for-profit members.h.i.+p company, established in 1916 and located in St. Louis, is the organization originally sanctioned by COPA to accredit bachelor's, master's, and doctoral degree programs in business administration and management. As of summer 2002, there are more than 400 accredited programs worldwide. The AACSB members.h.i.+p consists of over 660 U.S. educational inst.i.tutions, over 140 international educational inst.i.tutions, and approximately 50 business, government, and nonprofit organizations. AACSB has bestowed accreditation to only a small percentage of those members seeking inclusion. Standards for AACSB professional accreditation include faculty quality, student quality, curriculum, and program resources, including support staff, library holdings, and computer facilities. For more information regarding AACSB accreditation, refer to their website at www.aacsb.edu.

How Important Is Accreditation?Only one third of the M.B.A. programs in the United States are professionally accredited by the AACSB. Don't cross a school off your list just because it is not accredited. There is no way for you to know if the school lacks accreditation because the program is not eligible, because the school did not seek it, or because the program did not fulfill the required standards.

A second accrediting organization is the a.s.sociation of Collegiate Business Schools and Programs (ACBSP). This members.h.i.+p organization was established in 1988 to meet the needs of the smaller schools. Its mission is to promote and improve the quality of education for business schools and programs. In 1992, ACBSP received national recognition by the U.S. Department of Education. The ACBSP has now applied for initial eligibility for recognition from the Council for Higher Education Accreditation (CHEA). You may want to check out their website at www.acbsp.org.

Although regional accreditation is necessary for an inst.i.tution to partic.i.p.ate in the federal student aid programs and thus may be very important for you, professional accreditation may not be. More specialized programs may not even be able to obtain such accreditation because of the unorthodoxy of their curricula, even if they are of very high quality.

Location It's a fact: Unless you are opting for the Distance Learning or Online programs, you will regularly be shuttling from work to school to home and back again. Therefore, you'll need to carefully consider how much time and effort you want to expend on this commute. Do you want a school close to your office or close to your home? If you will be commuting by car, what will traffic be like during rush hour? Is parking available? Even if you will be taking advantage of public transportation, you must take into account rush-hour congestion.

If you're like everyone else, chances are, nine times out of ten you will leave yourself too little time to get to cla.s.s on time. Of course, you won't plan for this to happen, but sometimes meetings can't be avoided and the telephone doesn't know to stop ringing at 5 P.M. You want to arrive at school in a calm and composed frame of mind so that you are able to concentrate on the subject at hand (instead of sweating and stressing over commuting issues). This may sound minor to you right now, but remember, on average you will be commuting to school two or three times per week.

Don't Feel Like Commuting after Work?

Many schools offer students an opportunity to earn their M.B.A. on the weekend. The weekend M.B.A. is particularly appropriate for working professionals who must travel during the week, or who live and work in locations that make it difficult to reach campus during weekday evening hours. Universities with B-schools that offer Weekend M.B.A's include:* Bowling Green State University* Duke University* Florida Atlantic University* Iowa State University* Michigan State University* Seattle University* University of California-Berkeley* University of Chicago* University of Miami* University of South Florida Contact the school for more program information, and be sure to check around for more weekend degree opportunities.

Available Programs Since you have opted to stay employed, you must contend with finding a program to fit with your schedule: * Traditional Part-Time M.B.A. programs* Executive M.B.A. programs (if your company will sponsor you)* Distance Learning or online M.B.A. programs Although more and more programs are being developed that emphasize flexibility, make sure that the schools you are contemplating are very invested in their part-time programs. Consider the following questions: Can full-time students register for evening courses? Will you be competing with these full-time students for a seat in an evening or weekend cla.s.s? How many sections of the cla.s.s are offered (i.e., is the same cla.s.s offered on different nights)?

Are the Cla.s.ses Limited in Size?You want to make sure that you are not "shut out"-especially if the cla.s.s you want is a prerequisite for another one you have planned to register for in the following semester.

Ranking/Reputation Which schools will make the final cut? Rankings are a rough guide to the reputation and quality of the schools and their programs. It is not an exact science, though. When you read "The 10 Best B-Schools in the Northeast," you probably can't help but wonder what the operational definition of "best" is. Best social life? Best placement statistics? Best library (most volumes)? Best applicants (highest GMAT scores)? Best food on campus? Read the fine print when you are perusing some of these surveys and be advised that there is no single accepted ranking system founded on the quality of business schools. Sifting through the recent rankings in U.S. News and World Report, Business Week, U.S. News and World Report, Business Week, and others, it's hard to ignore that the same schools do indeed keep popping up, so look for a consensus. and others, it's hard to ignore that the same schools do indeed keep popping up, so look for a consensus.

You are not alone in reading these articles-your employers (or future employers) look at these statistics as well. Rankings and reputation are appropriate guidelines if your employer is considering these opinions when recommending you for a tuition reimburs.e.m.e.nt program. So if the prestige, reputation, and marketing of the schools are important to you and your employer, then by all means, take these rankings seriously.

Who Does the Ranking?In U.S. newsstands you will find rankings in the following publications:* Business Week Business Week (includes E.M.B.A. ranking) (includes E.M.B.A. ranking) * * U.S. News and World Report U.S. News and World Report (including Part-Time M.B.A. ranking) (including Part-Time M.B.A. ranking) * * Which M.B.A.? Which M.B.A.? (includes Part-Time M.B.A. and E.M.B.A. ranking, as well as some international rankings) (includes Part-Time M.B.A. and E.M.B.A. ranking, as well as some international rankings) * * The Insiders Guide to the Top 10 M.B.A.'s The Insiders Guide to the Top 10 M.B.A.'s* The M.B.A. Advantage The M.B.A. Advantage Other rankings: Other rankings:* a.s.sociation of M.B.A.'s (a British a.s.sociation founded in 1967)* Capital Another important statistic to factor in is the school's placement record, especially if you are considering a career change once you have obtained your degree. Most schools will provide you with a listing of employers who recruit on campus.

Value of Your Degree The return on investment of your M.B.A. education should be taken into account when selecting a school and program. Most schools will identify the average starting salary ranges for their graduates-look on their website or brochure. With this information, you can figure out how many years it will take to you recoup your investment.

Numbers Can Be DeceivingHere's your first accounting lesson: Understand how to read a number. For example, "ten" can be a very small number or a very large amount. Ten cents can be immaterial when you are rounding to the nearest dollar, and ten cents can keep you at your desk for hours on end when your balance sheet is out of balance. The lesson is this: Be very wary in how you interpret the numbers you are reading.

Quality of the Faculty The quality of a school's faculty is important and is reflected in each program's reputation. Nonetheless, there are several important questions to ask. Since faculty reputation is typically based on research output, how adept are the faculty members at translating research and theory to usable information? Indeed, how much emphasis is given to teaching? Is teaching an activity in which all the faculty members engage, or is it something left to those who no longer are succeeding researchers? What proportion of the cla.s.ses is taught by full-time faculty members, and what proportion is a.s.signed to adjunct part-time instructors who may not have equivalent credentials? Will you get to take cla.s.ses with the school's marquis professors? With a proliferation of executive education programs, teachers at many well-known schools are sometimes a.s.signed to teach executive education students instead of the M.B.A.'s. If one of your prime motivations in attending a certain program is to take cla.s.ses from specific professors, make sure you'll have that opportunity.

School Facilities If you decide to attend a brick and mortar school, school facilities will be a big concern. Apart from cla.s.sroom time and study-group sessions, you probably will not spend too much time on campus. Despite this, you should consider what additional facilities are available to the part-time students.

Specific questions you should ask include: * What are the library resources and hours of operation?* When is the bookstore open?* Is there a computer lab available for part-time students, and what are its hours of operations?* Is there an area available for you to meet with your group or study in silence? Again, check on the hours of operation.* Do part-time students have access to the dean's and registrar's office? Is financial aid available to part-time students? If school offices close at 5:00, what other access to information does the student have (such as call-in registration, email, etc.)?Try Out a CourseSome schools may allow you to take a course as a nondegree student before applying to the degree program. If the program requires certain prerequisites that you do not have, consider taking them at the school at which you are planning to study for the M.B.A. This will give you the opportunity to personally experience conditions at the school before committing yourself to it.

Part-time students are combining school with the often-hectic demand of work and family, and as a result, they need access to information as effectively as possible. Some schools will handle routine administrative business electronically; for example, allowing students to register and pay for cla.s.ses over the telephone.

There once was a time when all students needed to register for cla.s.ses in person or by mail via "registration cards"-drop them in a slot and pray. Fortunately, these days are long gone.

To give yourself a preview of what to expect, ask to take a tour of the campus one evening after work or on a weekend. Peer into the cla.s.srooms and library facilities (are they new or antiquated?) and see if you can imagine spending the next few years of your life there. If courses are offered at more than one site, check to ensure that the facilities and services are equivalent at each location. If you will be required to travel to various locales in order to take advantage of all the facilities, you should be aware of this up front, and be forewarned: This information probably will not be volunteered.

Now that you know what kinds of options are available and what you are looking for, how do you choose the specific programs to which you want to apply? The next chapter will deal with the process of narrowing down the field.

CHAPTER 6.

Finding the Program for You For each school to which you've chosen to apply, you may have to select from several different M.B.A. programs-different specializations and/or joint degrees. As a result, you may be faced with hundreds of options. When you sit back and imagine your ideal M.B.A. program, what issues come into play? You need to decide what is important to you. Do you need a program with a flexible schedule? How big a workload do you think you can handle? In what sort of learning environment do you thrive best? You will need to take a number of factors into account when a.s.sessing which M.B.A. programs fit your wants and needs, ranging from curriculum to cost.

CURRICULUM.

Although all M.B.A. programs differ, there exists a general core curriculum that all students must follow. To complement the core courses, students usually have the option of selecting a "concentration," similar to a major in undergraduate studies. The selection of concentrations in the M.B.A. program focuses on major business disciplines, such as finance, management, marketing, accounting and taxation, organizational behavior, communications, and now, e-business. This selection is gradually broadening as the business field's demand for a more well-rounded student increases.

No Travel RequiredDepending on where you live, you may not have a very expansive selection of schools left. If this is the case, you should also consider Distance Learning or Online programs.

For the student who has been out of undergraduate school for many years, some programs require a foundation, leveling, or prerequisite coursework to be completed in order to obtain the M.B.A. degree. A sampling of some of these courses includes: * Mathematics or calculus for business* Statistics* Marketing* Accounting* Business law* Economics These types of courses cover the common body of business knowledge that normally would be included in an undergraduate business curriculum. Depending on the student's background, many of the courses listed above can be waived. Although each school has their own policy, credit for leveling-type courses taken at the undergraduate level are generally applied towards the M.B.A. degree only if the student received a "B" or better and if the course was taken within the last five years. Check with the admissions office of the prospective B-school and inquire as to their policy regarding waivers. Some schools may require you to pa.s.s a placement exam to judge whether or not you have the competency to waive a certain course.

Is the School Web-Savvy?"E-Commerce" combines telecommunications, information technology, and computer technology to support and record business transactions without human intervention. It is vital for tomorrow's managers to understand how the Internet is changing the way business is conducted, and be comfortable with emergent technologies. Rutgers Graduate School of Management, for one, provides a comprehensive look at this rapidly growing field. Some topics covered in the curriculum include web publis.h.i.+ng, network security, legal issues, understanding buyer behavior on the web, and growing new business ventures.

One piece of advice: Don't make this your first question. There's nothing worse than starting off a program by asking which courses you can waive. It may come across as though you are not serious about putting your all into getting your M.B.A., which is a very serious and time-consuming endeavor indeed. However, this is obviously an important question to ask when determining which program is right for you, so voice this concern to the admissions department without stressing the urgency of the request. Try to think about your discussions with the university personnel in the same light as talking with a future employer. Imagine that the first question you pose at an interview is how much vacation time you would be ent.i.tled to. Doesn't sound quite right, does it? Show respect to the admissions office-there are thousands thousands of applicants who request admission to M.B.A. programs but only a few spots available. Even though you are the customer, there is a shortage of supply, so be advised. of applicants who request admission to M.B.A. programs but only a few spots available. Even though you are the customer, there is a shortage of supply, so be advised.

Cohort Programs Some M.B.A. programs-mainly full-time and executive programs-are cohorted, which means that all students are required to follow the same curriculum at the same pace. In this program, students usually do not have the option of skipping a cla.s.s unless they agree to take off a full year and resume studies with the inc.u.mbent cla.s.s. While the scheduling procedures can be very frustrating, the cohort programs are wonderful in that the student has a terrific opportunity to bond with other cla.s.smates and learn a great deal from them as well as from the faculty.

Other M.B.A. programs will permit the student to take cla.s.ses in the order that most suits the student's schedule. Although there is some flexibility in the scheduling of your cla.s.ses, registration for a particular course may require a prerequisite. For example, Corporate Finance may be your area of interest, but most inst.i.tutions will require that you take Financial Accounting first.

Important Questions to Ask Yourself"Is the program AACSB accredited? Are the faculty and administration fully linked with top companies in business? Is the organization made up of students, faculty, and administration who are active and open to change, or is the situation bureaucratic? What are the faculty credentials, and is there a sense of pride and excitement about what they are doing?"- Pamela Curry, a.s.sistant Director of Graduate Programs, Dolan School of Business, Fairfield University As mentioned above, for the student looking to attend part-time, cohort programs have historically been available only for the Executive M.B.A. candidate. However, to allow more part-time students to take advantage of this type of curriculum, new cohorted weekend M.B.A. programs are surfacing nationwide. Although very taxing on your time, these programs allow part-timers to get the flavor of a full-time degree.

Sample Curriculum (Some schools may require proficiency in Calculus, Statistics, and Economics prior to matriculation.) [image]

Back to Basics Many business schools have expanded the requirements of their core curriculum to include courses that will better equip the student in today's management environment by focusing on the quality of their "soft skills" (refer to the end of this chapter for a complete definition of this term). For some of the more experienced professionals going back to school to obtain their M.B.A., this may be a source of great frustration. Effective communications, managing conflict, managing human resources, and computer proficiency are skills used daily by top-level management. Management seminars and conferences dealing with these subjects are commonplace for today's managers, yet they usually do not count, credit-wise.

Keep in mind that although you may think you know it all, you will be surprised at what you can learn. Soft skills always need fine-tuning, and you will soon come to realize that these courses are not waste of time or money.

Once again, there are practically as many M.B.A. programs as there are students. The sample curriculum on the previous page is for reference only and can provide you with an understanding of the types of courses you will be expected to complete (and in what order) prior to graduating with an M.B.A. Depending on your undergraduate results and your experience, you may be ent.i.tled to waive certain cla.s.ses. (Each school has its own policy for waivers.) You Do the Math Do the Math "When I was in grad school, I was exempt from Statistics (I had received a 'B' or better in college and had taken it within five years). Math, on the other hand, I had not taken since high school! I was always a whiz at Algebra, and did not feel the need to take it again. I was informed that I was required take Algebra. What I don't understand is how I was waived from Statistics, whose prerequisite is math, and still required to take math!" "When I was in grad school, I was exempt from Statistics (I had received a 'B' or better in college and had taken it within five years). Math, on the other hand, I had not taken since high school! I was always a whiz at Algebra, and did not feel the need to take it again. I was informed that I was required take Algebra. What I don't understand is how I was waived from Statistics, whose prerequisite is math, and still required to take math!"- M.B.A., Fordham University YOUR AREA OF INTEREST.

Many schools will offer programs with a specialization that matches your area of interest. You should ask whether the program is very structured (i.e., all the cla.s.ses are preselected for the student) or if it permits you to select from an array of electives. How diverse are the electives? Are new courses being added?

YOUR SCHEDULE.

The demanding nature of your current work and home schedules should not be minimized. If your job requires you to do a lot of traveling, you should consider an Online program, a Flexible M.B.A. program, which permits the student to take some cla.s.ses online, or a Weekend M.B.A. program, now being developed at schools all over the nation.

"I travel too much for work now, but that will change soon."If you want to attend a traditional part-time program but for now are required to travel too much, you can either postpone enrollment or consider programs that permit you to take core courses on the Internet. That will buy you a little time!

ENTRY BARRIERS.

Do you have the right profile to gain admission? Most M.B.A. programs will require you to have an undergraduate degree from an accredited school; there will also be GMAT standards and perhaps a requirement for the number of years of professional experience. Do you make the cut?

TEACHING METHODOLOGIES.

Most M.B.A. programs will use a mix of the four major varieties of teaching methods: case studies, lectures, group a.s.signments, and individual a.s.signments.

Case Studies In the case method environment, the professor doesn't lecture but rather facilitates the open dialogue with the students by asking probing questions, expecting the students to fill most of the cla.s.s time with their observations, insights, and a.n.a.lysis. Each cla.s.s revolves around actual business situations, and students are cast in the role of decision makers. For example, the cla.s.s is given the facts about a struggling business, and must develop a plan to improve its performance.

There are a few schools where the case method is the primary teaching tool, but you'll find cases in general management courses at even the most a.n.a.lytical programs. The objective of the case method is to stimulate a real-world environment. Students must a.n.a.lyze each case and develop a plan of action-i.e., what they're going to do and how they plan to do it-with limited information and time at their disposal. Occasionally, individuals whose experience is the basis for a case may sit in on the cla.s.s to share their insights. In some instances, you may have the opportunity to do advanced planning for case studies. The details are a.s.signed as homework to be carefully considered and prepared by the next cla.s.s.

Lectures by Faculty and Staff A lecture-based cla.s.sroom is, in all likelihood, what you experienced as an undergraduate. The professor provides information, and interaction between students and the professor, or between students, is controlled and generally limited. Students need to sit and take notes, and not necessarily partic.i.p.ate in any of the discussions, although partic.i.p.ation is often expected, and sometimes graded. Many schools invite guest lecturers to speak. Look for a listing of recent lecturers-the high quality of guest speakers reflects positively on the school.

Work That Counts Twice"As a part-time student, I was able to apply what I learned immediately, and, as a bonus, get credit on both the school and office fronts. On many occasions my professors allowed me to use a work-related project as basis for a homework a.s.signment. The double duty paid off-with an M.B.A. degree and a promotion!"- M.B.A. graduate Group Projects and Presentations Project-oriented cla.s.ses have resulted from student demand that cla.s.ses be closely related to real-world business situations. They are akin to the case method approach in the role in which they cast the student. In project courses, a student-or, more often, a team of students-works as a consultant with the client company on a project or problem facing that company. While in a case discussion the facts of the case are a.s.sembled beforehand, the team working on a project often has to start from scratch, determining what information is needed, reviewing company doc.u.ments, and interviewing company employees. Regular cla.s.s meetings with the professor provide an opportunity to learn more about the subject and to discuss the particular problems and applications arising from the projects themselves. The course may end with each team presenting the project recommendations and actions to the cla.s.s and to the actual clients of the company. Project courses tend to be extremely time-consuming, because of the need to consult with the clients and with the other members of the team, but are effective at bridging the gap between cla.s.sroom and the workplace. Some groups may be chosen by the students themselves, others by the professors-presumably to promote a cross-disciplinary team approach.

The Right Atmosphere?

"Everyone wanted to do well. The atmosphere was compet.i.tive, but not cutthroat. That may be because the team structure sort of forces students to help each other."- M.B.A., Stern School of Business, New York University Individual a.s.signments and Presentations This teaching method most closely resembles undergraduate a.s.signments. Most core curriculum is a mixture of lecture and individual a.s.signments or presentations (such as statistics, math, economics, etc.).

Everyone learns differently, so select a program with the teaching environment that will allow you to thrive. Another issue to keep in mind is how well your learning style fits with the course expectations of the programs you are considering. For example, in case method cla.s.srooms, as much as half of your grade will be based on cla.s.s partic.i.p.ation. If you think you may be less than eager to partic.i.p.ate in this kind of forum, or you believe that your business travel schedule may force you to be absent during some of the cla.s.srooms discussions, you should ask yourself seriously if a case school is appropriate environment for you.

COST OF THE PROGRAM.

If your employer is paying for your program, finances will probably not be weighed too heavily in your decision. Even so, remember that you will probably need to: * Make the payments up front (you may not be reimbursed until your grades are official)* Pay for a percentage of the tuition if you don't get all A's* Cover the expense of books and incidentals* Pay for school fees (such as registration, insurance, and so forth) If your employer is not paying for your degree, there are a few options to consider, such as: * School loans* Scholars.h.i.+ps* Government aid* Your savings* Family loan In part 4 we will review these and other possible funding sources in the event that your company does not have a tuition reimburs.e.m.e.nt policy in place.

LENGTH OF THE PROGRAM.

More and more M.B.A. programs are streamlining the number of credits required to complete the degree. Cognizant of your personal schedule, how long will the degree take you to complete? What is the school's policy on waiving courses? And most importantly: Is the program start date consistent with when you want to begin the program? If this is not the case, and there are no rolling admissions, you may find yourself missing a deadline and waiting a full year before entering a program.

WORKLOAD.

Think about how hard you are prepared to work. It is generally true that the more effort you put into your program, the more you will gain from it, but some programs demand an extraordinary amount of work.

How Many Credits? Many Credits? In general, the M.B.A. student is expected to earn around 60 credits in order to graduate. That translates to about 20 cla.s.ses! In general, the M.B.A. student is expected to earn around 60 credits in order to graduate. That translates to about 20 cla.s.ses!

If the program uses teams for projects and cases, the time required can rise rapidly. Even without group or team meetings, you may need to spend six or more hours per week outside the cla.s.sroom for each course.

FLEXIBILITY OF THE PROGRAM.

Obviously, you need to weigh the importance of various aspects of the program are and see where you need the most flexibility. Some areas you should consider include: * Can you transfer from part-time to full-time programs (or vice-versa)?* Can you transfer credits from other schools?* Can you take time off during your program?* Is there any traveling required?* When are the cla.s.ses taught: evenings only? weekends?* How diverse is the student body?

PARETO CHART.