Career advancement depends on many factors ranging from current job performance to personal chemistry with colleagues. Not to be discounted is the role formal education plays in an employee’s value to present and prospective employer alike. For those in the marketing field, innovative ideas and new trends are the stock and trade of the profession. While some of these concepts can be acquired by working, most of them will go unnoticed or—at least—unappreciated because of immediate demands and limited company resources. The information conveyed when earning a Master of Business Administration in Marketing, on the other hand, can equip the aspiring professional with cutting-edge knowledge that hastens promotions. Challenges and rewards await those who seek the degree while continuing to work.
Enhanced Education
One advantage to retaining the job while working toward the MBA is the laboratory effect: seeing the theory put forth in the classroom play out in the commercial world. Staying on the job is akin to an internship in that it provides exposure to the business environment, clients, customers and resources that are often missing from the academic environment. Unlike an internship, many of these relationships are longstanding and useful for future business. Moreover, the student continues to draw a salary and avoids a large hole in their employment history.
Improved Cash Flow
Cash flow is another important benefit of continuing to work during an MBA program. Your savings account will thank you, as will your credit cards. In-state tuition, for example, for Rutgers University’s MBA program is nearly $12,000 per semester for full-time study, excluding fees and other associated costs. Unless the student is independently wealthy, several years of financial hits—without a regular income—will tax the household budget and rob from savings and retirement accounts. Such a sacrifice will be significantly reduced when you hold down a position while attending school on a part-time basis, perhaps at night or on weekends.
Less Me Time
The flip side of the money-saving advantage is the serious dent a full-time work and part-time study schedule will inflict on any desired spare time. U.S News and World Report advises prospective students to be prepared to decline social engagements, limit television viewing and take care not to have babies during this time. Every minute must be assessed for its value: work, study and sleep must take precedence over recreation and leisure. For those with families, each member must adjust to the student’s schedule until graduation day.
Saying No to the Boss
A related drawback to earning an MBA in Marketing while working full-time is that those already employed in the field will have to be ruthless about leaving the office on time in order to be punctual at school. Marketing campaigns and sales training often require employees to work overtime on projects and in-house training programs. It is incumbent on the part-time student to convince superiors of the value the MBA will add to the company, and request that extra hours be kept to a minimum. This sort of favor is not always granted.
Clearly, there are pros and cons relative to pursuing an MBA in Marketing while remaining on the job. Above all, the MBA candidate must consider personal health, family and finances when embarking on a program that requires mental endurance, physical energy and a good deal of money.
Follow