How to balance work and study in your online MBA?

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The Master of Business Administration degree, commonly called an MBA, is one of the most valuable and rewarding advanced degree programs for working professionals. According to Statista, it’s also one of the most flexible and versatile graduate degree programs, as it’s widely recognized that it’s difficult for working professional MBA students to leave their positions and pursue a full-time, in-person degree. In fact, about 37 percent of all MBA students are trying to earn their MBA while working full time.

Knowing the balance of professional, personal, and academic requirements for success will enable you to successfully manage your way to accomplishing your MBA and, subsequently, boost your career.

Understand the Commitment of MBA

Before you start your MBA while working, you'll want to have a good idea of what the commitment is. Even if you choose an online MBA degree program, you'll discover that you need to make effective time management and prioritize well in order to get all your coursework done. Luckily, online MBA degree programs are much more flexible than full-time, in-class programs, so they are often the first choice for working professional MBA students.

Time and Workload Expectations

The time it will take you to finish your MBA degree will depend on the kind of program that you register for. A traditional, full-time MBA degree will take about two years to complete, according to Coursera, while an online MBA degree program allows you to complete most of your requirements on your own terms. You may be able to finish your accelerated MBA degree within a year.

Setting Realistic Career Advancement Goals

Knowing what your MBA can and cannot do for you will help you determine whether it is worth investing in your time and resources. Many business professionals pursue an MBA degree in the hopes of gaining more advanced positions in their industry or to specialize in a specific area. Indeed states that an MBA may increase your earning potential, but the amount by which your salary increases will depend on the specialization that you choose.

MBA Time Management Techniques

Doing an MBA while working requires some fine-tuning on your part, even if you opt for an online MBA degree. These time management techniques can help you feel more in control of your work-life balance as you work toward completing your degree.

Creating a Schedule

Creating a daily or weekly schedule can help you better visualize your availability and set aside specific time for studying. For instance, a working professional who goes to the office from 9 a.m. to 5 p.m. may not have time to finish coursework or study during the day, but they can probably block out an hour from 6 a.m. to 7 a.m. or 8 p.m. to 9 p.m. Having a schedule can keep you organized and focused on both short-term and long-term goals.

Prioritizing Tasks and Deadlines

When creating your schedule each week, you'll also want to keep in mind upcoming deadlines for your MBA courses. In your job, note items of high priority, and similarly with items in your MBA studies. This way, you can tackle the most urgent tasks first.

Including Buffer Time

When building a schedule, it’s important to remember that not everything goes according to plan. Building buffer time into your schedule will help you stay on task and on time without adding stress if something takes longer than you expected.

Leveraging Technology for Efficiency

The digital age has opened more avenues for professionals who want to gain an MBA degree. Not only can you do your coursework online and at your own time and convenient place, but you may also utilize technology and all other digital resources to enhance productivity.

Use of Productivity Apps and Tools

There are several productivity apps and tools that one can use to be more productive and efficient while earning the MBA degree. The following indicates some of the best productivity apps for people earning an MBA while working full time:

Doodle — A group meeting scheduling app perfect for professionals collaborating with online coursework.
Notion — A notetaking and project management app that helps you prioritize tasks.
Shift — A centralized workstation app that keeps all your MBA coursework and deadlines in one convenient space.

Online Resources for MBA Students

Moreover, LinkedIn points out that even full-time working MBA students can utilize the following online resources:

MBA Essay Samples
Online Academic Writing Guides
Social Media Groups
Educational YouTube Channels
Good Study Habits for Working Professionals

Whether you work full-time in finance or are an emerging marketing strategist, you might already feel your plate is full. These effective study habits will help you balance your MBA studies with your responsibilities in your current profession.

Creating a Routine of Continuous Study

When trying to balance your fulltime work with the need to complete your MBA, consistency is key. Establishing good times and places to study for you, along with a routine schedule, will allow you to study more effectively and efficiently.

Maximizing Productivity

When you allocate specific time for studying, and you prioritize your tasks, you can maximize your productivity during that time. Using reliable time management strategies can help you increase productivity, leaving you more time for yourself at the end of the day.

Strategies for Retaining Information

Sitting down to read your textbook or study your notes is one thing, but sometimes retaining that information is an entirely different battle. Here are some tried and true strategies that will help you retain information better:

Avoid multitasking while studying and focus on the task at hand.

Adjust your study techniques to accommodate your learning style. For example, if you are an auditory learner, listen to your notes rather than reading them silently.

Share what you have learned with a classmate. Discussing your newly acquired knowledge will help you recall the information better later on.

Communication and Networking for MBA Students

While the advanced business topics covered as part of the MBA curriculum are critical towards advancing your career, so are the networking opportunities which exist as part of this program.

You can effectively network within your MBA program as well as garner additional support through:

Engaging With MBA Cohorts for Support

In your course work, you will likely be required to do small group assignments and collaborative projects. Working with your classmates will help you build a social network within the program that can provide you with emotional and academic support.

Navigating Work Expectations With Employers

Be open and candid with your employer about pursuing an MBA. Not only is this enhancing your own credentials, but also you are going to bring a lot of value to the organization. Work together and understand their expectations and develop a plan that supports your professional and academic goals.

Seek Support From Colleagues and Supervisors

You might seek further help from professional colleagues and supervisors if you're struggling to complete your studies and assignments. They may take some workloads off your shoulders temporarily so that you regain your footing.

Health and Well-Being Tips

Pursuing an MBA while working full time is not without its challenges, and it can certainly be emotionally draining. It's important that you prioritize your mental health and give yourself grace if you feel that you are struggling working full time and going to business school.

Importance of Mental Well-being During MBA Studies

Your mental and emotional health will have a significant impact on your success during your MBA studies. If you are feeling burnt out or depressed, you are less likely to effectively balance your coursework and your professional responsibilities, which may only exacerbate feelings of frustration or isolation. By taking the steps necessary to protect your mental health, you will be able to better navigate this busy time in your life.

Stress Management Techniques

Some of the best stress management techniques for MBA students who are working full time include:

Setting realistic goals. Identify the tasks that you can complete each day or within a week-long period and focus on those short-term goals.
Build a support network. Your support network can be friends and colleagues, or classmates and supervisors. If you have people who will support you, help you, and listen to you, you'll achieve that elusive work-life balance.
Be active. By focusing on your physical health, you will feel better mentally and emotionally.
Take time off. You are most probably very busy maintaining school and your work, but you should still find time to do what makes you happy.

Integrate Exercise and Healthy Habits

As you schedule your week or month, make sure to block out time for exercise. This will keep you physically and emotionally healthy, enabling you to concentrate better on your studies. A balanced diet and regular exercise should be a priority at this point in your career.

Financial Planning for MBA Studies

Not only does your MBA program require time commitment, but it also requires financial investment. Being aware of the costs — as well as the financial aid opportunities — will help you prepare accordingly.

Financial Aid and Scholarships

You can qualify for monetary aid and scholarships to partly fund your MBA studies. While most students with an MBA submit applications for federal student aid, many others may be eligible for need-based or merit-based scholarship awards. Among the many scholarships that one can win include:

Forte MBA Fellowships for Women
National Black MBA Association Scholarships

Budgeting for Educational Expenses

Online MBA degree programs are more affordable than their counterparts in college. But most of the expenses that you may incur include Tuition and Fees, Course Materials, Technology Expenses.

Conclusion
An online MBA program may be very challenging to balance with work at first, but it is quite doable if planned properly and you're disciplined. With clear goals, scheduling, and prioritizing, you will have an easy time managing your time. Take advantage of the flexibility that online programs provide, and make sure your employer and family are informed about your commitments. Don't forget to take a break and maintain your health to avoid burnout. With hard work and some smart strategies, you should be able to complete the MBA while shining at the workplace.