What is Executive MBA?
The Executive MBA (EMBA) is specifically designed for the business persons who are experienced and advanced in their career. The degree can help evolve their knowledge of leadership, strategy, innovation, management and much more.
What is an executive MBA? Are you planning to achieve an EMBA? It is a good idea to do so as it helps you evolve concerning your awareness and knowledge on leadership, strategy, management, innovation, and every other concept related to today’s business world.
But wondering what is EMBA? It stands for “Executive Master of Business Administration”. It is designed for the people who work as executives or managers in a corporate world to reach a better position in the future by earning an EMBA degree as it covers every topic necessary to run an organization.
Here is an article to give every detail regarding EMBA so that you can make the right decision.
Table of contents
What is an Executive MBA?
The Executive MBA (EMBA) is specifically designed for the people in the corporate world be it, executives or managers. If you are a corporate officer or worker who wants to future proof your skills over your peers an MBA will help you gain a ton of valuable experience which results in advancement in one's career. The degree can help to develop your awareness and knowledge on leadership, strategy, management, innovation, and much more.
Candidates of EMBA
This degree is taken up by people who are in the midstage of their profession who wants to be in a senior position, increase their career option or those who want to increase their skill sets and brush up their knowledge.
Candidates who are applying for this usually have more than 10-15 years of industry experience in their domain. The entire set of the crowd coming to get their EMBA would be from diverse backgrounds and industries which leads to more exposure of people with different skill sets and perspectives.
It is a program that emphasizes more on networking so that they can learn from the experience of each other. Business leaders can earn an EMBA while still working full time.
Executive MBA Program Costs
Education comes at a prize, and the cost of an EMBA is extraordinary. The MBA program is just shy of $75,000 every year. If the normal program takes 2 years to finish, you would end up shelling up to $150,000.
Usually, Management will often encourage employees to earn an executive MBA degree. The interested candidate need not pay the entire amount of the bill on his own as the management will sponsor.
There are also many financial aid options available such as grants and scholarships. All these will add up in lowering your tuition fee, and then you can calculate your potential rate of return on investment.
Executive MBA Degree Coursework
EMBA coursework typically revolves around case studies, and workshops often take place in real-world places of business. The programs offered might include classes like the following:
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Organizational leadership
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Industry analysis and predicting performance
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Global business environment and international business
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Business ethics
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Finance
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Macroeconomics and microeconomics
Why earn an Executive MBA Program?
Are you wondering why is it necessary to earn an EMBA degree? The main 5 reasons are as mentioned below.
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You will be able to gain a powerful global network.
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It indicates that you are well prepared and ready to reach a senior position.
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You can gain a more international business vision.
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It improves your earning potential which is an advantage for those who are aiming at earning more.
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You can apply the concepts learned directly into the workplace.
How to Choose an EMBA Program?
Choosing an EMBA program is a crucial decision and may not be taken lightly.
You need to search out a program that's accredited and offers smart academic opportunities. Finding an EMBA program that's comparatively close by may also be necessary if you plan to still work whereas earning your degree.
Some colleges provide online opportunities. This might prove to be a decent possibility if they're properly accredited and meet your academic needs and career goals.
Pros and Cons of Executive MBA
We have made a list of strengths and shortcomings to get a better idea
Advantages of earning an Executive MBA
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An EMBA degree will help to increase your salary by at least 20% and more if done from top tier colleges.
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It increases your professional responsibility and leadership skills.
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A valuable network of high-level academic peers and contacts from different industries.
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Drastically increases the chances of a promotion within the current workplace.
Disadvantages of earning an Executive MBA
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The average tuition cost is approximately $78,000.
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16-22 hours per week to complete class and assignments managing time with work becomes critical.
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With many candidates managing high workload and stress scheduling classes around existing job duties becomes quite a task.
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Not all employers will sponsor tuition fees
How is EMBA different from an MBA?
You might be confused about how EMBA is different from an MBA. Though they sound the same, there are few important contrasts between them which are necessary for you to understand before making a decision. So, the table below exhibits the difference between them.
|
BASIS FOR COMPARISON |
MBA |
EXECUTIVE MBA |
|
Meaning |
MBA is a master's degree course usually pursued to develop a complete understanding of business and management. |
EMBA is a post-graduate program for working professionals, i.e. executives, managers, leaders, and other professionals. |
|
Approach |
Theoretical and Practical |
Practical |
|
Course |
Full-Time |
Part-Time |
|
Duration |
Long |
Comparatively short |
|
Classes |
Regular classes throughout the academic year. |
Evenings and Weekends only |
|
Fees |
High |
Comparatively Low |
|
Eligibility for admission |
Graduation plus the minimum required cutoff marks. |
Graduation plus minimum work experience. |
|
Appropriate for |
Students who want to pursue a master's degree in business management, to get a managerial level job. |
Experienced individuals who want to enhance their skills and get a boost in their career. |
Source:- https://onlinemba.wsu.edu/resources/all/infographics/whats-unique-about-the-executive-mba
How a Weekend MBA Program Could Help You Earn Your MBA Degree?
In most cases, an EMBA is a 2-year or less program that is designed for the benefit of working professionals. Since it is planned for working professionals the duration of the class is minimum such that it would not affect their job duties and profession.
The classes usually happen in the evening or weekends keeping the working professionals and their schedules in mind. On average the class should be attended for 6-10 hours.
An Executive MBA program usually places a great deal of emphasis on teamwork, you'll usually be expected to work closely with the same students for the duration of the program.
Top Colleges or Business Schools offering EMBA program
Here are some top business schools that offer the E-MBA program to students:
Career opportunities for EMBA degree holders
Here are a few popular career prospects for an EMBA degree holder along with the average annual salary.
|
Job Role |
Average Annual Income |
|
Marketing Manager |
$134,290 |
|
Medical and Health Services Manager |
$99,730 |
|
Database Administrator |
$90,070 |
|
Financial Manager |
$127,990 |
|
Business Operations Manager |
$100,930 |
Conclusion
It is a program that would provide you great flexibility, as you can learn while working, thus it will impact you with skills due to which you can accept more responsibility or even pursue promotion opportunities. Thus Executive MBA is perfect for working professionals.
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