If you have substantial work experience [more than 6 years] in the industry and if you plan to stick to the same industry, go for part time MBA.
But at the same time, make sure that you enroll in a A grade college.
All said and done, part time MBA is not seen in the same light as full time, but a good college/brand name will suffice for that. And the reality is that it’s almost impossible to shift career 180 degrees using your part time degree.
As far as Full time MBA goes if you are a fresher or have work experience of less than 2 years, I strongly suggest you to go for full time MBA. Also, if you are looking for a career shift [let's say from IT coding to sales/marketing], this is the right time to make that change.
After having stayed in the industry for 4+ years, doing a full time MBA/and a career shift, will most probably erode all your previous work experience benefits. And of course, it will hurt you to be treated as a fresher.