Hey, remember that time that I did an MBA? That was pretty awesome. And remember how I’m a huge nerd and was tracking all the hours that I spent on said MBA? Also pretty awesome. Anyway, the last time that I provided an updated summary, it was of the data up to the end of summer 2013. So, for completeness sake, I’ve analyzed the full data set, from the beginning of the pre-core program until I handed in my industry paper, the final thing I had to do in my MBA. (Spoiler alert: the final analysis is not much different from what I saw in the preliminary analysis). A few caveats about these data:
- I completed the program in 24 instead of 28 months, so the amount of time I spent per week is higher than it would have been if I’d completed the program as scheduled
- The part-time program, as scheduled, consists of a full weekend of classes roughly every third weekend, except July & August, plus work on a business plan and industry project that spanned several months and was done outside of class weekends. I took some courses from outside my program (e.g., full-time MBA classes offered in the evenings, EMBA courses offered on different weekends, some online/distributed learning courses). This makes my time spent in class less regular than it otherwise would have been.
- My industry project was a project that was related to work, so some of it was done on work time. Since this was work I’d have been doing anyway, it was not counted as school work time (Though anything I did that was extra for the industry project was conducted on my own time and is counted in the data).
- Transit time to and from school was not counted, unless I happened to be doing homework (e.g., reading while on the Skytrain) during that time.
And now, to the juicy data!
Overall for the two years, I spent:
- 831 hours on homework
- 641 hours in class
- = 1472 hours total
If my next best alternative use of that time was to do freelance work and I charged $100/hr as a consultant, that would mean my opportunity cost for that time was $147,2001.
|Hours spent on homework per week, on average||7.95|
|Hours spent in class per week, on average||6.14|
|Total hours spent on school per week, on average||14.23|
|Hours spent on homework per hour of class time||1.3|
When you break it down to core3 vs. post core, you get the following:
|Hours spent on homework per week, on average||7.95||7.96|
|Hours spent in class per week, on average||6.85||5.64|
|Total hours spent on school per week, on average||14.80||13.82|
|Hours spent on homework per hour of class time||1.2||1.4|
The above tables tells us that:
- I spent more time per week in core than in post-core
- I spent the same amount of time per week doing homework in core as in post-core (regardless of the fact that I had more class time in core))
- I spent more hours of homework per hour of class time in core than in core
Now, because I, along with all my classmates swore to our business statistics professor that we would always graph our data, here are some swanky graphs (click to embiggen)!
Time spent on MBA program per day
Time spent on MBA program per week
So, in conclusion, I spent a heck of a lot of time on the MBA program. However, you should note that this was my experience, but it differs from others. For example, I spoke to a classmate at graduation who told me that he spent 40 hours per week total, for the whole 28 months of the program4. And I’m sure there are students who spent less time and in different patterns, given what was going on in the lives at various points – a lot can happen in two and a half years! Basically, I’m pretty happy with my time allocation because while it was a huge amount of time and required a lot of sacrifice, I invested the time that was needed to learn what I wanted to and needed to learn, but I still managed to have some fun along the way5. But mostly, I’m happy that it’s done!
- Of course, that assumes I could find 14 hours per week of freelance work for 2 years. If my next best alternative use of that time was to sit around eating Doritos, the opportunity cost would be significantly less. [↩]
- Note that if I’d taken the full 28 months to do the program – assuming that the total number of hours spent on the modules I would have taken would be the same as the total number of hours spent on the modules that I did taken – I would have spent an average of:
- 6.68 hours per week on homework
- 5.29 hours per week in class
- =12.26 hours per week total [↩]
- When I say “core” here, I’m actually including the pre-core, which was three optional weekends immediately before the core, as well as the 10 months of the core program itself. [↩]
- Or possibly he finished a month or so early – so 40 hours per week for 26 or 27 months. I can’t quite remember for sure. [↩]
- Three half marathons and a trip to Europe come to mind! [↩]