The Executive MBA, or as it is otherwise known, the EMBA is a postgraduate management program meant for those who already have several years of professional working experience, and who want to take up directorial positions in their careers by obtaining an MBA that focuses primarily on corporate governance, leadership and ethics. In other words, an EMBA requires a candidate to usually have over 10 years of professional experience, in contrast to a regular MBA degree which only requires a candidate to have about 3-5 years of experience.
There is a significant difference between the courses offered in a regular MBA and an Executive MBA. While a general MBA focuses on imparting business knowledge that revolves around major business functions such as; finance, marketing, supply chain, etc. an EMBA, on the other hand, focuses on modules that are specific to corporate governance such as ethics, leadership, risk management and CSR related concepts such as Caroll’s pyramid. Moreover, an EMBA also functions differently from a regular general MBA. While a regular MBA program would run full-time, usually over 2 years or at best 16 months, the EMBA, on the other hand, is taught part-time without the need to quit your job.
An EMBA is also usually significantly costlier than a regular MBA. For example, in India, an Executive MBA from an IIM costs nearly 40 lakh, but a regular MBA in most cases can cost between 18 to 24 lakhs. However, since an average EMBA prospect is most likely taking up a position on the board of a multinational company, it often offers to pay for such programs. Alternatively, applicants, who may be in a senior position but not necessarily are taking up a directorial position on the board of an organization, may apply to such programs and can request their organization for funding the program by putting in a formal request and presenting a compelling case in the form of an essay as to how funding them will benefit the organization. Furthermore, if the company chooses to fund, it may do so partially or fully and upon being convinced that the employee will continue working at the same company after receiving the education.
The eligibility criteria for an EMBA is the same as that of a regular MBA, except for the work experience required. To be eligible for an executive MBA, one needs a bachelors degree, 3-8 years of professional experience and scores from any of the standard tests that the university may ask for such as; GMAT, GRE, CAT, XAT or any other entrance exam.
The Best schools for an EMBA in the world are:
- The Wharton School – US
- IESE Business School – Spain
- HEC Paris – France
- MIT Sloan School of Management – US
- London Business School – UK
- University of Chicago Booth School of Business – US
- INSEAD – France
- Said Business School – UK
- UCLA Anderson School of Management – US
- Haas School of Business US
Now that you know what an EMBA is and how different it is from the regular MBA program, you’re in a better position to choose which MBA program suits your career needs. To simplify, if you’re in an entry-level job or hold a mid-level position at an organization, you should ideally opt for a regular MBA since this will enhance your overall knowledge in business and chisel your business acumen; thus, developing you into a sound business professional.