The popularity of traditional MBA programs is known to everyone. But, of late, the EMBA programs are also giving serious competition to regular MBA degrees. So let’s find out more about EMBA and why it is best suited for certain applicants.
What is an EMBA?
Executive MBA or EMBA is a management program similar to traditional MBA programs but designed specifically for corporate executives. The course duration of an EMBA is usually 24 months, where classes are extensively conducted during weekends and holidays to ensure students can attend classes without disrupting their work schedule.
Why EMBA and Who is it For
Compared with traditional MBA programs, EMBAs are targeted at working professionals who are already established in their careers. Such executives want to further their career by pursuing an MBA course but can’t afford to take study leave or leave their jobs for it.
Furthermore, these industry veterans may feel stagnated in their current role or hit the ceiling in their careers. Besides, some of them might want to understand finer aspects of business management that can help them move further north in their career by preparing themselves for top-level managerial responsibilities.
While traditional MBA students can have 2 to 5 years of work experience, EMBA students are relatively older and seasoned professionals with 15 to 20 years of work experience after their under-graduation.
Top EMBA Programs
|Location in USA
|Booth School of Business
|University of Chicago
|University of Pennsylvania
|Kellogg School of Management
|Columbia Business School
|New York, NY
|Stephen M. Ross School of Business
|University of Michigan
|Ann Arbor, MI
|Leonard N. Stern School of Business
|New York University
|New York, NY
|Fuqua School of Business
|Hass School of Business
|University of California – Berkeley (Haas)
|Sloan School of Business
|Massachusetts Insitute of Technology
|Anderson School of Management
|University of California
|Los Angeles, CA
Source: US News
Cost & ROI of EMBA
While the average cost of EMBA hovers around $87,000 globally, reputed and highly sought after programs from top rung B-schools like Harvard or Wharton can cost more than $2,00,000. Arranging such a high amount can require a lot of financial planning and cutbacks.
However, this cost can be worth every bit of it considering the high-return potential post-qualification. Moreover, EMBA pursuers are usually already well paid in their company. They can have a real shot to further senior management-level promotions, often accompanied by an adequate rise to cover this cost in the next 5 to 6 years.
[READ: ROI of MBA from USA]
How to Prepare for EMBA?
The application process for admission to an EMBA program is not very different from traditional MBA programs, where you would need to submit an application form along with the following-
- Your GMAT and TOEFL/IELTS scores
- One or many essays
- Your resume
- Minimum two letters of recommendation
Additionally, an EMBA aspirant typically requires corporate endorsements from his/her present employer.
Therefore, considering the long time and complexity of the admission process, you should carefully prepare for EMBA using the following tips.
- Research Well
More than 100 business schools in the USA offer EMBA programs, with each of them having an emphasis on different course particulars and objectives. For instance, while one program might have a special emphasis on finance and capital markets, another program might give more stress on inculcating entrepreneurial values.
Hence, it is essential to research well about the b-school you want to get into. It’s elementary to have a good idea of the course particulars and how they can help you grow in your career.
Furthermore, you need to arrange your finances depending on the course fees, which can be quite steep.
- Contact Your Employer Early
Most EMBA programs require proof of endorsement from the applicant’s employer. Therefore, it is important to secure one as early as possible.
Talk to your employer or contact your HR office early on so that both you and your employer have enough time to discuss the matter at length. You can take this opportunity to pitch yourself as an ideal candidate for endorsement and how you can better contribute to the company’s future with an EMBA.
Some large organizations also provide financial support to their employees wanting to pursue EMBA. Check for such policy in your present company and try to avail such sponsorship to ease your financial burden. However, do note that such sponsorships often come with binding contracts- in the form of providing pre-defined years of service or returning the assistance amount.
- Secure a Good GMAT Score
Many prominent business schools have relaxed the norm of having a valid GMAT score due to the pandemic. However, try to secure a good GMAT score to be on the safer side. Besides, a good GMAT score always reflects well on any MBA resume.
- Prepare for Interview
The interview is the final and probably the most crucial stage of an EMBA admission process. Simply put, the admission councillors want to know more about you. It is an excellent opportunity to present those aspects of your career and personality that you may have missed putting in your resume.
Furthermore, you should be prepared to address questions related to your career choices, goals, and the objective of pursuing an EMBA.
Lastly, avoid making the common mistakes that many applicants make. Watch this video where I share mistakes that lead to rejections of MBA applicants in the interview round.
Highly motivated professionals with years of industry experience and professional achievements don’t usually stop after becoming successful. They constantly want to push their limits and get out of their comfort zones to handle newer and more daunting challenges and responsibilities where they can further demonstrate their business acumen and decision-making capabilities.
An EMBA degree can be the right launch pad for such proven war-horses. Do you belong to this species?