An MBA – or Master of Business Administration
– is an advanced degree that is designed specifically for the purpose
of training its students to become business managers and executives.
Given that there are various types of management that go on in the
business world and various types of entities in need of managing, there
are various types of MBA programs out there. MBA programs differ
according to the focus of the curriculum – such as finance versus global
management – and according to the structure of the class – such as
part-time, full-time, online, and blended. An EMBA – or Executive Master
of Business Administration – is one of the many types of programs
widely offered. For some aspiring professionals, the choice between MBA
and EMBA is an important one. Read on for helpful information about how
to choose between an executive MBA and a traditional MBA program.
Career Level
One of the main ways in which MBA and EMBA programs differ lies in
the types of students to which they generally appeal and where they
stand in their respective career tracks. A traditional MBA program
focuses on preparing its students to become managers. For this reason,
students accepted into MBA programs usually have between 0 and 5 years
of full-time work experience upon application. They tend to be single
and they are generally still in the beginning phases of their careers.
Conversely, applicants to EMBA programs tend to have between 5 and 10
years of full-time experience and many of them have family and career
obligations that make full-time university study difficult.
Program Structure
Normal MBA programs are generally intensive, requiring students to
commit to a rigorous study schedule. If students work, they often do so
in the evenings or early mornings. EMBA programs, on the other hand, are
usually not so intensive. While they are designed to push their
students, their structure and scheduling is still formed under the
assumption that the students are working full-time during normal working
hours. For this reason, EMBA programs tend to consist of fewer hours
per week and classes tend to be in the evenings and on the weekends.
Because of the thinner classroom commitment per week, EMBA programs tend
to last longer than normal MBA programs.
Test Requirements
Most legitimate business school programs require their applicants to take a standardized test such as the
GMAT.
The scores applicants obtain on these tests constitute an important
part of the application process. For EMBA applicants, however,
standardized test scores are less of an issue. When deciding on whether
or not to admit applicants to the program, EMBA administrators tend to
look more at work experience. Minimum GMAT score requirements are
generally lower – and may not exist at all.
Focus And Benefit
MBA programs tend to have a more general focus or they focus on the
stated major or concentration such as finance, accounting or global
management. The idea is to prepare students for career tracks that could
result in hopping from one company or industry to another. They are
designed under the assumption that their students’ career tracks are not
yet set in stone. EMBA programs, on the other hand, tend to focus more
on helping students to become executives within the career tracks that
they have already established. This is one reason why EMBA programs do
not require as much class time. The programs assume that students have
already learned many things about how to lead within the frameworks of
their respective companies and training for circumstances outside of
this scope is often seen as unnecessary. Because of this, while getting
an EMBA may lead to better professional opportunities under one’s
current employer, it will likely not be as useful as an MBA after
leaving that employer.
Cost
MBA programs and EMBA programs tend to come at different costs.
Because MBA programs are more intensive, they also tend to eat up more
of business schools’ resources and therefore cost more than the slimmer
EMBA programs. However, this is not necessarily going to be the case in
every situation as some business schools (such as Brigham Young
University) charge more for EMBA tuition than for MBA tuition.
Additionally, an EMBA program at a more prestigious business school is
often going to cost more than an MBA program at a less prestigious
business school.
Financing
MBA students typically finance their tuition through the normal channels: personal savings and
student loans.
EMBA students, on the other hand, often do not have to worry about
this. It is very common for EMBA students to have much or all of their
tuition covered by their employers, as the purpose of the EMBA is to
prepare current employees to move up in the corporate ranks and become
top-level managers and executives. For this reason, when companies
sponsor their employees for EMBA programs, they tend to do so on the
condition that their employees agree to continue working for them for a
certain number of years.
Making The Choice
If you are eligible for an EMBA program, the benefits of going that
direction instead of going through another MBA program lie primarily in
the lower financial and personal stress. They also interfere less with
busy schedules. However, the career opportunities that MBA programs
produce are generally broader. The bottom line is that there are
trade-offs between the two programs. Doing your homework ahead of time
will help you to make the best decision for your situation.
