This article will give you a comprehensive overview of the Executive MBA program.
What is Executive MBA?
Executive MBA (or EMBA) is a post-graduate management course specifically designed for working professionals who want to enhance their managerial skills and refine their career prospects. EMBA is similar in content to an MBA program except that the former is more focused in approach and delivery. Generally, professionals can pursue the course while continuing with their current jobs.
Over the last decade, the appeal of EMBA has increased manifolds due to multiple factors such as:
- Graduates prefer to work a while before their post-graduation like an EMBA
- Professionals in mid-stage of their career graph like to improve their chances of getting promoted to managerial positions
- Executives undergo specialized courses during EMBA to up-skill themselves according to the market requirements.
Typically, an Executive MBA program costs higher than a normal MBA program and some employers sponsor their employees for it.
Executive MBA in India
In India, the executive MBA program is often confused with a one year MBA program. Though both the programs are devised for experienced candidates, EMBA is could be a full-time or a part-time course, unlike a one year MBA program. Usually, an executive MBA is delivered in virtual or weekend classes over a period of 1-2 years. Some B-schools provide profile-based admissions and others consider GMAT/GRE for EMBA.
ISB (Indian School of Business) ranks as the best institute for Executive MBA in India. It offers 15-18 months long Executive MBA programs in weekend and weekdays format. Other reputed B-schools for EMBA are FMS, MDI PGDM-BM, MDI PGDM-BA, SPJIMR, NMIMS, IIMs, Great Lakes etc. Today, more than 25 B-schools in India have incorporated the executive MBA program in their curriculum. Majority of these institutes require the candidates to have 2-15 years of work experience for admission to EMBA.
Executive MBA outside India
An executive MBA program abroad opens up enormous global opportunities for management aspirants. Just like EMBA in India, a global EMBA is a part-time course at many top universities across the world. These programs are intensive in nature and aim to impart global leadership skills. Candidates opting for EMBA have an average work experience of 6 years or more. Executives at senior positions enroll in EMBA to keep up with the changing global environment.
Some of the top institutes for EMBA are: Kellogg School of Management at Northwestern University, Booth School of Business at University of Chicago, London Business School, IESE Business School, etc. In order to get admission in these international universities, candidates need to clear an entrance test such as GMAT or GRE, and have an excellent professional record.
Is EMBA worth it?
Considering that an EMBA costs higher than a normal MBA program and demands extra time besides your work, it would be wise to assess its viability first.The average age of an individual doing an EMBA is 30-35 years, which means you have to get back into the education system after a long gap. Moreover, executive MBA programs rely heavily on teamwork, and thus, can be demanding in time and energy. Now that you know about the challenging part of EMBA, let’s discuss the future implications and benefits accrued from Executive MBA:
- Career Progression
Since EMBA involves specialized training in the managerial and business field, it will put you in a position of better promotions and higher responsibilities. Whether you plan to start your own business or add value to your workplace, an improved profile is bound to boost your career graph.
- New Skill Sets
An executive MBA program lends practical knowledge that can be directly applied to your way of functioning. It is all the more beneficial for graduates who can then take their career to a completely new direction. Apart from the technical knowledge, you will learn to tackle the same problems with a managerial perspective and gain better communication skills.
An executive MBA program intends to make you more adaptable to the ever-changing and evolving business trends. Unlike a conventional degree where you are taught some standard fixed rules, an EMBA inculcates flexibility and openness to innovations and changes in the business environment. It also impels you to re-evaluate your career goals and future planning.
- Better Professional Network
EMBA enables you to come across people from diverse backgrounds and organizations. You get to learn about different professional experiences and varied range of skills. Since EMBA includes team building activities, you learn new ways of thinking from experienced people of various industries. This hones your overall personality and impacts your career in a significant way.
Finally, Executive MBA is unique in the aspect that it doesn’t exclude work and education, unlike the traditional degrees.