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Copyright 2007 by The McGraw-Hill Companies, Inc Click here for terms of use
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expected of them So, they re generally worth what people pay for them As a side note, you are also getting paid that much for a reason you ll work hard for the money you earn $ You want to teach business administration This is a less common, but still obvious reason for attending graduate business school The leading PhD programs, however, are not necessarily the leading MBA programs there is a big difference between teaching Master s candidates and grooming those who will teach them in the future The Tuck School at Dartmouth, for example, does not even offer a PhD in business So, if you re interested in something a bit more advanced than the MBA, you ll need to reach beyond the rankings; it s best to look at who is getting hired where Finally, remember that the teaching of business is the most lucrative academic job one can get these days Not many other university professors can earn in the low six figures as relatively junior faculty
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A BRIEF TAXONOMY OF MBA PROGRAM TYPES
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The next question is, what sort of program to attend Broadly speaking, there are two options
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The Full-Time Option
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The pursuit of the traditional two-year, full-time program is probably why most people would buy a book like this A full-time MBA program is like none other While leading part-time MBA programs (discussed next) offer many of the academic attributes of their full-time equivalents, the full-time program is, for most ranked programs, the flagship program for the school and the focus of the school s administration and budget What full-time MBA programs offer through this total immersion process is unparalleled access to a wide range of faculty, speakers, contacts, recruiters, and alumni on a weekly, and even daily, basis If you can afford to quit your day job (more on that later in this chapter), the experience, both academic and social, is worth it
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Part-Time, Evening, and Weekend Programs
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For those who have jobs that they either can t or don t want to surrender, there are other excellent options Part-time programs generally allow students three to five years to complete the course work that a full-time program expects to cover in just two Some schools, however, insist that their evening or weekend programs are not part-time at all; while they may stretch out the length of schooling, they may also allow less flexibility in what courses are taken when For details, you simply must check with every school in which you are interested Also check access to key faculty for both core courses and your intended electives The best professors do not always pull double duty for day and evening programs The perceived detractor in this case is quality There is a widespread perception that degrees attained in evening and weekend programs are somehow not the equal of those attained during the conventional full-time programs This is hard to assert convincingly At many schools, the faculty that teaches core courses and popular electives teaches for both full-time and part-time programs What is often true, however, is that the evening, weekend, and part-time programs have slightly lower admission standards, at least in the quantitative aspects of an application Excellent job experience in a mid-career professional can often make up for a less-than-stellar GMAT score or undergraduate GPA
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That can help if you find yourself in that category, but many recruiters know the difference, and some shy away from relying too heavily on the r sum books of the evening classes Executive programs are a further twist on the MBA concept These are usually shortened versions of the standard MBA courses that gloss over some of the more quantitatively challenging course work and focus instead on high-level case work The objective is not just to suck in senior managers with money to spend but rusty calculators At a certain point, most business managers shift from being producers of analysis to being consumers of analysis, so the focus of their graduate education should shift as well On the other hand, career services assistance is often less impressive for part-timers At one time, many executive and part-time students were sponsored by large corporations, and many universities did not want to irritate these corporations by offering their employees avenues of escape This, however, is changing as well Check the school s policy on this matter You will specifically want to know what level of access to campus recruiting and career services assistance is available relative to that for full-time students
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