When Business School started I had 13 years of industry experience and 7 years of leadership experience. That meant I was the average student in terms of age and years of experience for the executive MBA track. I had a good salary so giving up on 2 years of income while paying the cost of Business School was not at all compelling. I wanted my peers to be similar to me, ideally older than 25 year old and more experienced in their respective industries. I seeked to interact with and learn from other leaders, and I had no plans nor desire to switch careers.
Appendix: Comparing MBA program structures
Full time MBA
This option caters to people who have a few years of work experience, usually without managerial experience. These are people who generally work in investment banking or consultancy companies or folks who seek to make a career switch (e.g. software developer to product manager). The average age of students in the program is between 25 and 27 years old. Since you are a full time student, you have plenty of time and opportunities to connect with your fellow classmates, build relationships and establish a strong professional network. Coming into the program students average salary is $80K and they often double their income upon graduation (source).
Part time MBA
This option was the most flexible and the least structured. Students could speed through the program in about 2 years or take 5 years to finish .Your peer students would be likely to change every semester and potentially in every course, as each student can choose their course setup, making it hard to establish long term relationships and solidify a network of peers. Lastly, students’ prior work experience is mixed, potentially diminishing ability to learn from your peers.
To be very honest, I ruled this option out early, as it felt like the worst of all worlds.
Executive MBA
The executive track caters to people who have substantial experience in the industry, ideally including a formal management role. The average student age was 32 years old, with 13 years of industry experience and 6 years of managerial experience. Given the extensive work experience, monetary ROI is harder to predict but most attendees will see a positive impact to their careers. Executive programs more-or-less accommodate your normal job schedule, taking place during weekends and evenings and offering full courses in a concentrated week of studies.
Shared elements
Cost is roughly the same across all options, but note that the full time track will require missing about 2 years of work…. and income, while the other programs enable getting a salary while earning an MBA.
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