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What Is An Executive MBA?
To understand what exactly an executive master's in business administration or an EMBA degree is, we need t first understand what a business administration degree is and what a master's degree is. A business administration degree is a qualification that teaches you about the structures and divisions that exist within a business and how each division of business needs to work together for a business to successfully function as a whole.
A master's degree is a graduate degree that one pursues as a way to further their qualification, experience career worth, experience job growth, and promotions, and achieve the salary growth that comes with a higher degree or graduate degree program.
If we combine everything we know from these points, an executive MBA is a business administration degree, that has been obtained at a master's and graduate level meaning that it is advanced and more in-depth and that it is for executives.
Basically, an EMBA is an MBA program that is reserved for individuals who are already working professionals, either at the executive level or not, but they are hoping to increase their leadership skills, or they are hoping to delve deeper into the intricacies of business and business operations.
An EMBA is for individuals who are still working in a higher-level role and are completing their MBA on a part-time basis. They do not take time off from their career to pursue this degree as one would with a full-time MBA.
Let us dive further into the EMBA and take a look at what it entails.
How Different Is An EMBA From An MBA?
At the foundational level, both courses provide you with the same amount of credits by the time you have completed them. Depending on the institution and the curriculum you opt for, an EMBA may not require a major, whereas an MBA would require you to select a major or a specific field of focus.
However, when looked at from afar, both programs are equally rigorous.
The major difference that can be noted is that with an EMBA, candidates aren't required to leave their full-time jobs to pursue this program. It May take slightly longer to complete an EMBA and given the fact that you will be juggling work and studies, it may take a lot more effort and brain capacity to complete.
A normal MBA on the other hand requires full-time attendance and full-time completion. This means that as a normal MBA candidate, you will be a full-time university student, attending lectures and courses, and if you were already working in a job, you will be required to leave your job.
You will also get a summer break whereby you will be encouraged to work in an internship program, but this is dependent, once again, on the institute and the requirements of that institute.
There are also differing admission requirements for each program one of which is that you need to have a certain amount of work experience before qualifying for an MBA or an EMBA program. For an MBA program, you are required to have a minimum of four years of work experience, but for an EMBA you are required to have a minimum of 12 years of average work experience.
Is An EMBA Worth It?
Deciding if an EMBA is worth it is dependent on a number of different variables. First, you would need to consider what your career goals are. Does your career growth require you to pursue an EMBA? If not, you wouldn't necessarily need to consider vying for this program. However, if the expansion of the organization in which you work requires you to have an EMBA, then pursuing this program would be worth it, especially if the organization hopes to expand internationally.
Next, you will need to consider if you have the time available that you would need to dedicate to achieving this qualification. It would require you to dedicate evenings, weekends, and even holidays for you to successfully complete the program while working full-time. This would also be greatly influenced by your lifestyle.
The cost of an EMBA is quite substantial coming in at around $200,000 for the two-year program. This is quite a hefty price tag, so you would need to take into consideration if you are paying for it by yourself or if it will be paid for by the organization at which you work.
If you are paying this fee on your own, you would first need to consider if you are able to pay this fee and if your current and potential earnings will worth what you will spend on this program. If the organization is going to be paying for your program, you need to consider if the skillset you will acquire from the program will contribute to the organization, not only in the long run but also immediately.
You would also need to consider if it will draw any of your attention away from your current role. If so, it may be detrimental to your current career path and it may not be the best option to pursue this career.
However, an EMBA may greatly contribute to your earning potential, bringing in a higher salary than you are already earning.
What Courses Will You Cover In An EMBA?
You will cover a variety of course content during an EMBA program which includes accounting, business ethics, finance, risk analysis, data analytics, economics, leadership, marketing, operations management, and strategic management.
Is An EMBA Better Than an MBA?
While one may not necessarily be better than the other, they both serve different functions, and they are pursued by individuals who are hoping to meet different goals. EMBAs better accommodate the schedules of working professionals than that of an MBA.
What Are The Disadvantages Of An EMBA?
Pursuing an EMBA does mean that you will be extremely busy during the time you once had free and available, you will have to attend courses in person or online, and if you aren't hoping for upward mobility in the organization that you already work, you may find that your employability decreases because companies may not be able to afford you.
What Degree Comes After An EMBA?
Once you have pursued an EMBA, the next step in your academic career would be to pursue a doctorate in business administration.
Why Is An EMBA So Expensive?
Aside from exhibiting a high and exclusive brand power, this program is taught by experts in the field, and people who are often professors in business administration. This means that you would need to pay for not only the content you are being taught but also for who is teaching you the content.
While an EMBA may seem like it is reserved for the elite, it is a program that is usually pursued in very specific cases. You may also find that many institutions only do an intake for this program every few years in an attempt that they can fill the program to capacity, which in some cases is no more than 40 people.
If this Is the next natural step in your career and it is a necessary step for your career growth, this will provide a variety of benefits to you and your organization.
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