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Executive MBAs
While the purpose of getting an MBA, for some students, is to develop the skills needed to find the perfect career, many MBA seekers have already found that opportunity and are simply looking for a way to take their business success to the next level. This is why the Executive MBA (EMBA) a hybrid degree that combines the best of both the full- and part-time MBA, is recently gaining popularity.
Why the EMBA?
EMBAs are attractive to working students because they consist of shorter program durations--lasting only about as long as a regular program--while creative scheduling allows students to continue to work while earning a degree. Students aren't the only ones who find this degree option attractive; employers get the opportunity to retain ambitious and educated employees who are certain to positively affect revenue and productivity.
Which EMBA program?
Many of the world's foremost business schools currently offer some form of accelerated MBA for working students, so differentiating between programs can be difficult. EMBA programs can vary widely with respect to these factors:
- Structure and mode of delivery
Although most EMBA programs utilize the standard methods of teaching consistent with regular MBA programs, some rely on e-learning, lecture models, or hands-on study more than others, so it is important for students to find out which approach best suits them.
- Student body makeup
For many business students, entering today's increasingly global workforce requires an equally diverse and multi-faceted education. Many business schools incorporate this global mentality into admissions structures. The proliferation of culturally diverse campuses means plenty of choices for prospective students.
- Admissions requirements
EMBA programs usually have broader acceptance rates than their regular MBA counterparts. Students should research the admission requirements for all prospective schools, paying special attention to the submission deadlines for each.
- Course offerings
Executive MBA students might have slightly less uncertainty about the future than regular MBAs, but an employer's expectations (especially if the company is paying for tuition) can run high, so it is especially important for a student to determine that the course offerings of their chosen program directly align with the needs of the company and their role within it.
- Tuition and fees
Pursuing an EMBA means a better chance of receiving employer funding, but depending on the school, total program cost can range from $60,000 to $125,000.
The many differences between the regular MBA and the EMBA can make the decision difficult for a working professional. There are some important advantages to earning an Executive MBA. In addition to having job security, many students are able to incorporate their real-life experiences into their studies and, conversely, employ recently learned skills on the job. Tuition reimbursement and access to older, more experienced classmates are factors than can also be seen as bonuses. Businesspeople should consider the disadvantages, as well. Scholarships are rare in EMBA programs and a full-time work schedule allows less time for interaction and bonding with classmates. Taking careful inventory of the pros and cons involved in earning an EMBA will ensure that prospective students make the choice that best suits their lifestyle and career goals.
By Hannah Roberts
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