Part-time MBA programs are the flexible choice. Whether you’re working a full-time job or need to dedicate more time to family at home, part-time MBAs are designed for those with a busy schedule but still want to advance in their careers.
But with there being a large number of universities with part-time versions, it can be difficult to dig through the weeds and find a program that truly fits your mold. While location often plays a major role in the decision-making, a part-time MBAs rigor and prestige are still important for many candidates.
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STEM-designated. Tar Heel ROI. No compromises. Visit WebsiteTo make the process even just slightly easier, Fortune Education has sought to rank the best part-time MBA. For 2024, we ranked 50 programs.
Methodology for Fortune’s ranking of the best part-time MBA programs
In formulating our ranking, we considered a variety of factors such as price, student backgrounds, and alumni outcomes. Since no program is the same—with varying timelines, outcomes collection, and curriculum—no ranking is perfect. However, after consultation with our expert panel, we utilized indicators that we felt best judged the part-time MBA ecosystem for 2024.
Here are the data points we used:
Fortune collected-data:
- Fortune 1000: 20%
- We looked at the leaders of America’s 1000 biggest companies to see if they had obtained an MBA—and from which school. We analyzed each CEO, CFO, as well as technology lead (whether that be CIO, CTO, or CISO). The more Fortune 1000 C-level placement, the higher the school’s Fortune 1000 Score. A school’s score includes Fortune 1000 C-levels who graduated with an MBA from the school, regardless of the type of MBA program.
- Average annual search volume: 10%
- We looked at the average number of times during a month that people search for each business school on Google, then converted it into a yearly metric to measure public perception of a school’s brand and reputation and how it affected what school they were interested in attending.
School-provided data:
- Size of 2022–2023 graduating class: 10%
- Out-of-state annual tuition: 5%
- Graduation rate, 2020–23: 12.5%
- One-year retention rate, 2022–23: 12.5%
- Acceptance rate, fall 2023: 8%
- Yield, 2023–24 (matriculates/admits): 8%
- Average undergraduate GPA, 2023–23 enrollees: 6%
- Average number of years of work experience, 2023–24 entrants: 8%
Our expert panel
In preparation for the release of our ranking, Fortune discussed the MBA world with two experts who have worked directly with business schools, admissions counselors, and prospective students for a number of years:
- Esther Magna: Principal MBA Admissions Consultant, Stacy Blackman Consulting
- Rachel Beck: MBA Admissions Managing Director, mbaMission
By asking questions about the importance of MBA education, different types of programs, and the skills needed to succeed, we hoped to better understand how to effectively guide those pursuing a career in the field. It’s noteworthy that neither expert was directly involved in ranking any programs.
‘Fit is everything’
The world of business is constantly changing. MBAs are no exception—in terms of curriculum as well as student interest.
In fact, the demand for MBAs is counter cyclical to the economy. Magna says that during the pandemic, there was a large surge in MBA demand, and each year since then has, as expected, seen slightly year-over-year declines.
Moreover, an increase in tech layoffs over the past two years has also made some more hesitant about being able to get a coveted job at a top tech company like Google, Amazon, or Meta after an MBA is complete.
“The reality is that those that are happily employed, and see career progression within their current roles, and don’t see the greater purpose for the MBA—which is advancing long term career aspirations—might think twice right now because of certain variables, such as the economy,” Magna says.
But for part-time MBAs in particular, the thought process may be different since students are often employed during the program and are more so looking to advance vertically. So, what are the biggest keys to success? According to Magna, they are:
- Self-awareness
- Data-driven decision-making
Because ultimately there isn’t a ton of time for MBA candidates to simply be a dreamer and think about career goals, the earlier you know your strengths and weaknesses as well as passions and purposes, the better off you will be, Magna says. To achieve this, she encourages individuals to network, ask curious questions, and find mentors—sooner rather than later.
Above all, when picking a program, Magna notes, “fit is everything.” While brand and reputation are important factors, location is especially crucial for part-time programs.
“If you have a fantastic job where you don’t want to leave, and you’re considering part time programs, the geographic access is probably more important than whether they’re ranked number seven and number 12,” she says.
Part-time MBAs: the ‘stepchild’
Beck notes that the part-time MBA is almost like the “stepchild” to full-time programs, since the latter tend to get more attention. In fact, many of the M7 Business Schools, such as Harvard, Stanford, and Columbia, do not even have part-time programs.
Regardless, the part-time MBA still has many added benefits. Namely the ability to continue working.
“A lot of people who are in the part time program might want to grow within their companies—like that might be a plan for them—or they feel the need to get an MBA to reach a next level or to pivot into another industry,” she says. “There’s a lot of different reasons why people get a part time MBA, and it’s just a wider pool of experience, and backgrounds,”
Additionally, one of the additional perks of the part-time MBA is that students can start applying learned tools and soft skills the next day in their careers.
When it comes to selecting a specific program, Beck agrees with Magna in that location is a large factor
“I just think that you’re kind of stuck going with a part time program based on where you live and work,” she explains. “You’re not doing a part time program in Boston, if you live in Philadelphia.”
Ultimately, she advises candidates to find a program that is perfect for them, their careers, and their life circumstances.
“But what makes schools more coveted than other schools? They have great placement. They have great professors, they have great networks, they’re teaching on the cutting edge. Those are things that make business schools stand out versus other business schools,” she says.
