If you are currently working in management and are interested in advancing your career into top-level positions, it is highly recommended that you look into enrolling in an Executive MBA program. As a graduate level business degree offered within a university’s business or management school, an Executive MBA is primarily designed to educate working executives, managers, entrepreneurs, and other leaders in the business world with years of experience. Since an EMBA degree is specifically structured for working professionals, the program typically allows for more flexibility to earn the degree in evenings or on weekends in two years or less, according to the US News and World Report. Before you start filling out applications, the following is a broad overview of what you should know before deciding if an Executive MBA is the right fit for you.
Executive MBA vs. Traditional MBA Programs
In the majority of cases, the Executive MBA program will follow the same rigorous curriculum and confer the same renowned management degree as traditional MBA programs. Despite these similarities, the class format and the admissions requirements differ significantly. Applicants for an EMBA program will typically need to have at least five years of professional work experience in management. Since traditional MBA programs do not require work experience at all, candidates are instead evaluated based on their test scores on the GMAT and previous grade point average. While traditional MBA programs often allow students to choose the courses they take each semester in a full or part-time format, an Executive MBA is pursued in a step-lock method with a cohort of managers and a much more restricted schedule.
Great Reasons to Earn an Executive MBA
In today’s competitive workforce, continual learning is a necessity to stay up-to-date on the latest business practices and inspire others to learn from you. If you do not already have experience on a global scale, earning an EMBA can offer international learning opportunities all over the world. Furthermore, an Executive MBA provides the perfect chance to network with other professionals and the business school itself to build career-altering connections. Although it may seem counter-intuitive to invest in the rising cost of tuition in a rocky economy, the return on investment of an EMBA is astronomical. Pursuing an Executive MBA in slow economic times can be the perfect way to build up your resume, find professional contacts, and put you in a favorable position as the economy recovers.
How to Choose an Executive MBA Program
While the choice will be easy if there is only one university near your geographic location that offers an Executive MBA, there will likely be several school options available around you that provide on-campus or online formats. First and foremost, you want to make sure that the EMBA programs you are selecting have been properly accredited for excellence by the Association to Advance Collegiate Schools of Business (AACSB). Next, ensure that the curriculum is delivering the soft or hard skills that you are seeking to develop within the program. If you are seeking to specialize in accounting, finance, marketing, or another field, choose an EMBA that offers electives in this chosen discipline.
Related Resource: Global MBA
Overall, an Executive MBA can be a phenomenal opportunity for managers to find the learning and networking experiences that are needed for career advancement. According to Forbes, 80 to 90% of companies pay the cost of tuition for employees to receive an Executive MBA; however, it is important to make sure you have the time, commitment, and interest in finishing the program before enrolling in this investment.