MBA Headache

So, I’ve been thinking lately about my career goals and what I want to be when I grow up. I know I want to stay in the field I’m in, but not in the agency life forever. I know I want to go in-house eventually, but most in-house positions require 5 years of experience. However, I know working in an agency that I’m learning a lot more about the business than I would in-house. I want be in charge of the ‘big picture’ someday.

Marketing has a wide variety of subsets- you’ve got brand marketing, affiliate marketing, direct marketing, high-tech marketing, marketing research, just to name a few. PR and advertising fall under this umbrella too. Strong brands and solid marketing programs drive shareholder value. I feel like there’s a huge gap in my knowledge. I want to strengthen my understanding of essential business functions and better understand the decision making process. So, I’ve decided to get my MBA.

Last week, I was determined to do it all over the next month so I can start in the fall. Then I decided this probably would not be good to attempt the gmat, applications, essays, recommendations in short amount of time. So, I’ll aim for a fall 2007 start. If I decide to go part-time, I can aim for a January 2007 start.

I’m really torn between the whole part-time versus full-time option. Do I really want to give up the comfort of a steady job and reduce my standard of living? This would be an investment of at least $50,000 if I go full-time. At the same time, I need to remember that going part-time isn't cost-free either. On average, a part-time program is about 3 years long (or more?). 2 courses a semester and 1 over the summer. Even if its a 20 course program, you’re looking at a 4 year commitment, assuming that one stays on schedule.

Four years of constant pressure to balance the demands of a professional career, personal and academic life. I’m sure halfway though the excitement will want and I’ll proceed on sheer determination and commitment. I’ll be going home tired and still have an obligation to meet, whether its something for my job, classes or family. Saturday and Sundays will involve errands, social commitments, academic demands and any work brought home from the office. Do I really want to deal with all that?

Plus, I have to consider the perceptions of the part-time MBA versus the full-time MBA. Part-timers are considered MBA-lite. They have a dissipated experience and spread their energies over a wide range of activities. When you go full-time, you can focus on the experience and gain the maximum benefit.

All these thoughts have been giving me a huge headache over the past week. I also have to take into consideration that the average MBA applicant has 3-6 years of work experience. If I decide to go in fall of 2007, I’ll have 2 years...factor in co-ops and I guess its about 3. So, I’ll be on the low-end. Needless to say, I’ll be studying for the gmat for the next few months.