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Correspondence courses do not provide face-to-face teaching, which is very very essential for any course. Until and unless one faces regular exams, clarify doubts from teachers, the sense of ownership can not come. That's the reason why online courses could never become popular anywhere in the world.

As there is growing need for MBA professional, working executives and organisations are realising the importance of part-time MBA. There would be more and more MBA professionals in India, and this would become a necessary requirement to reach to the top level of management. So it is essential to understand the real value of such courses in terms of both learning and monetary perspective. Both are important.

Leaning perspective has already been discussed. Talking about monetary benefits, the comparison is done for monetary gains and loss compared to full-time. A normal two-years experience (minimum requirement for any part-time course in India) executive would be earning around 3 LPA. Some guys earn even more and some guys less. Taking this figure as base for two years, the total amount is 6 LPA (discounting the increase in salary over years and also increase in money by time value of money concept). This was opportunity cost for leaving job and going for full-time course. Also, the actual cost of doing MBA is generally around 3-4 Lakhs (could cost more including the interest to be paid on loan, cost of staying in hostel, food, etc.). Overall, the cost comes around 10 Lakhs. And yes, don't forget the loss in experience for the 2 years!

So all the working executives who go for full-time courses have to answer this question. Is it really worth paying such huge amount? I hope this would bring some clarity towards such courses.

This article is not to demean any other management courses but to give the part-time course its due importance, which it truly deserves. And also clarifying what is the objective of such courses and how is it comparable vis-à-vis other management courses. I hope that students would be in better position to decide what and which management course will suit their requirement.

Concluded.

* Contributed by -
Nitin Jain,
Working as System Analyst at Royal Bank of Scotland, Gurgaon Branch,
Pursuing Part-time MBA Course from DoMS-IIT Delhi.