I was admitted to Booth FT and have done some research on this topic. Additionally, my good friend now goes to a top 3 part-time program and I have some perspective on the value of PT through him as well as about 15-20 friends who go to and/or went to NYU PT, and 3-4 peeps who went PT to GSB in the past 3-10 years.
PT students (provided they aren’t sponsored) can participate in all the recruiting events at Booth. However, I’ve heard from students there that they are rarely taken seriously by recruiters. My PT friends do have a lot less debt than if they had gone FT, but their career prospects are only marginally better than they were before. Less debt…but no big networking enhancements through school. They definitely have no shot at landing a legit buyside gig at a Fidelity, Wellington, etc (which DO take a bunch of FT grads each year from Booth).
The value in a FT program is the recruiting and networking. You have tons of time to have informational interviews, go to company presentations, meet friends of classmates, etc. If you think you are going to get anywhere near the same benefits in PT as in FT you are sadly mistaken. While you are working until 6 (or later) every day, your FT classmates are going to class, meeting with career services, applying to boatloads of jobs, traveling all over the country…as a PTimer you have no real chance to compete with that.
If I were you, I’d go to the best FT program you can get into. Leave PT for those that are a) already established and don’t need to switch jobs/careers or b) destined for 2nd-tier status.