Calculating ROI on the part-time MBA
On April 21, 2011, in an article for Bloomberg Businessweek, Francesca Di Meglio reports on the benefits of going to business school for a part-time MBA. As companies move away from paying for their employees to earn an MBA, part-time students are increasingly considering the return on investment, or ROI, of an MBA. Although Di Meglio's findings show that return on investment is difficult to quantify, especially for part-time graduates, the intangible benefits an MBA provides can benefit part-time students as well.
Three reasons to pursue part-time MBA programs
Di Meglio profiles graduates of three part-time MBA programs who earned their degrees for different reasons. All reported that their education produced a solid return on investment. According to these graduates, the best reasons to get a part-time MBA are:
- Make a career change. One graduate went back to school to improve his job performance as a reporter but found the degree actually helped him to change careers not once but three times in the years following graduation. Each move made him more successfu l--and made him more money.
- Supplement your skills. A second part-time MBA graduate went back to school for a business degree in order to enhance her work as a software developer. The MBA has helped her launch a software startup.
- Build your network. The third graduate found it critical to continue working throughout his MBA program in order to continue building his work experience. The part-time MBA allowed him to gain a business education and the work experience needed to develop his career.
While students at part-time MBA programs may not see the immediate salary boosts their full-time counterparts can, the intangible benefits of gaining a strong grounding in business and finance principles can pay off.