There are hundreds of learners looking for the best management course, but plenty does not know the difference between an Executive MBA (also known as EMBA) and MBA. Executive MBA is often mistaken as a superior version of its better-known counterpart—the MBA. While both the programs-MBA and EMBA-are similar in terms of content, prestige, and value to employers, the point of difference lies in their format and requires a different commitment level.
Here we got a blog for you that will arm you with as much information as possible.
What is an Executive MBA (EMBA) program?
If you are looking to up your game professionally and give yourself a competitive edge, you may consider enrolling in an executive MBA program. Unlike the traditional MBA program, Executive Management Program focuses less on business basics and more on business nuances. Moreover, EMBA students face faster-paced classes, but they cover the same material. It also teaches learners how to be an effective manager, rather than preparing them to enter a management career.
- Learners need not appear for an entrance examination.
- Prior work experience is not preferred, but it may give you an edge over other candidates.
Benefits of Executive MBA
- Takes your leadership skills to a new level: The program equips learners with the leadership and administrative skills to manage teams effectively.
- Apply what you’ve learned in the professional world: As told earlier, students-taking this course-retain their full-time job. So, learners get a great chance to apply their newly acquired skills and learnings in their workspace.
- Network with Expert Professionals: Learners get an opportunity to interact with highly experienced professionals from diverse backgrounds and industries; it is also an excellent opportunity to engage and exchange ideas.
What is an MBA program?
An MBA, or Master of Business Administration, is an advanced degree that develops skills required for executive-level management. MBA curricula cover a wide range of business practices, including accounting, marketing, finance, and project management. Most programs focus sharply on analysis and strategy.
- Learners do not need to appear for an entrance examination
- Prior work experience preferred in a managerial role.
Benefits of MBA program
- Graduates get better career opportunities and higher salaries.
- Having an MBA degree makes one more employable and find better opportunities. Also, the skills obtained with an MBA are transferable to many fields.
Where lies the difference?
- Program Pace, Curriculum, and Length
The length of both the Executive Management Program and MBA varies from school to school. However, the principal difference is that EMBA is a part-time program; designed to accommodate working professionals, whereas MBA classes take place regularly. More often than not, the EMBA classes are held on the alternate weekend, though plenty of flexibility has been built into these programs in recent years.
Executive Management Program learners also have a lower engagement rate than their counterparts to minimize distractions from their regular work schedules. On the other hand, full-term MBA students have such a demanding schedule that balancing it with a job can be a problem. An MBA usually takes two years to complete, but it can be extended to three or four years if you choose to study part-time. On the contrary, executive programs are generally fast-tracked, so it takes less time to complete than the two years required by full-time programs.
Coming to the curriculum, both types of MBAs have a similar curriculum with the only distinction that classes are more fast-paced in EMBAs. MBA programs include subject areas curriculum, such as accounting, economics, marketing and business operations, and elective courses. Students can also specialize in fields like sports management, healthcare, supply chain, and operations management. EMBA programs, offering fewer electives, are designed in a way that students take most classes, if not all, with the same classmates.
- Fee Structure
The cost of an executive MBA entirely depends on the school you are planning to join. But it is usually higher than that of a regular MBA (in almost 60% of the cases). Fortunately, some of the employees provide benefit packages that cover their 80-90% tuition fees. Another point of difference between the two types lies in the fact that regular MBA, the tuition fees is to be paid by the learner. For an EMBA, an employer usually pays most, if not all, tuition costs. After all, they’re benefiting from the new skills their managers are learning!
- Return on Investment
Both MBA and EMBA candidates can expect a good salary package upon graduation, though of varying degrees. EMBA graduates saw an average salary boost of around 38.5%, as per the QS Global EMBA rankings 2019. MBAs saw an increase of 64% in compensation post-graduation, according to a 2018 QS ROI report. If your career goal is to switch careers—rather than advance in your current profile—you might be better off in a full-time MBA program rather than an EMBA program.
In a Nutshell:
Factors to Consider
1) Degree: Check if the school you are enrolling in offers a different degree for an MBA and EMBA candidate. Make sure that the certificate you will earn should have the same impact as that of a regular MBA program
2) Faculty: Check about the faculty before in hand before enrolling in a program. Some business schools offer a different faculty for EMBA who hardly meets the qualification requirement and may not provide the same qualification.
3) Students: Finally, make sure that the student body represents learners from a wide range of experiences. While pursuing an Executive Management Program, one thing is for sure – you will learn as much or more from your classmates than you will from a textbook, a lecture, or any of your professors
Ask the following questions before enrolling for an MBA program – Will classmates have some experience? Will they add to your understanding of the business world? Will you enjoy working with them?
The one-year Executive PG Program in Management – offered by Great Lakes Executive Learning is a comprehensive Executive management program. Exclusively designed for working professionals, the program gives you the flexibility to consume content, featuring a combination of videos, articles, hands-on projects, and career-related coursework from anywhere. Mentor-guided learning not only helps you build skills faster but also enables career growth. You can click here to access the complete details about the course. Do not forget to click on the clap button if you liked our article.2