There are many program options when it comes to choosing the right MBA. Depending on your work schedule and personal commitments, as well as your amount of professional working experience, a part-time or full-time program are both good options. Prospective MBA students also have the option to complete an Executive MBA program.
Executive MBA programs are designed for mid-level managers and executives who have five or more years of management experience. There are many benefits of completing an Executive MBA program rather than a regular part-time MBA as an experienced business manager. It is a great type of program for those looking to build upon the business skills they have learned over years of experience as well as a way to learn new skills and gain knowledge on new markets and strategies.
According to the Executive MBA Council, the average age of EMBA students is 37.5 years. EMBA students have an average of 13.7 years of work experience with 8.7 years of management experience. Classes for EMBA programs are typically held in a part-time format with classes on Friday evenings and over the weekend. Many EMBA programs hold classes on an every other or every third weekend basis. Students in these programs also complete them in a cohort, where the same group of students completes the same program courses, at the same time.
One benefit of the cohort structure is that it gives students great networking opportunities. Students come from a variety of backgrounds, industries and have many different life experiences. Working along side the same group of students can help in the future of your business as well as help you personally with classwork and developing new ideas. Establishing these important relationships can also open new markets for business.
Executive MBA programs do not always have the same amount of elective courses as regular MBA programs because students in these programs usually want to stay in the field that they are currently in. Participating in an industry-specific EMBA or a program that has an emphasis on an area where you are looking to expand your current company can be a better option. The Global Leadership Executive MBA program at the Naveen Jindal School of Management at the University of Texas at Dallas offers students a chance to learn how to expand in to emerging global markets.
This program is ideal for executives who are looking to move their company to the next level and interact with other executives, governments and consumers from countries outside of where they are located. The program curriculum is designed for managers who desire to learn how to enter in a new geographic market, operate in new markets and lead globally.
Another feature of this program is Executive Coaching. Students work one-on-one with an executive coach to develop skills such as strategic self-awareness, executive presence, social intelligence, political intelligence and social networking. Learning how to manage yourself, not only your business can be beneficial to your company in the long run and can help you to move up in your personal career.
One difference between an Executive MBA program and a MBA program is how students pay for the program. Most EMBA students receive tuition payment from their company because the return on investment is high. The EMBA Council reports that the percentage of self-funded EMBA students has decreased from 41.2 percent to 39.8 percent in the last two years and that partial sponsorship has increased to 35.6 percent. It is important to speak with your employer about sponsorship before enrolling in an EMBA program because there are very few scholarships and outside funding available for students in Executive MBA programs.
The Stern School of Business at New York University does offer EMBA students scholarship opportunities. These scholarships are available to students who are receiving minimal or no financial sponsorship and can be applied for during the regular program admission process. Recipients will be selected by the Admissions Committee on a merit basis. Stern, as well as most universities, participates in the Yellow Ribbon Program for veterans.
Another benefit of completing an EMBA is that most programs do not require students to complete the GMAT exam for admission. This opens a lot more school and program options for students. It is also a benefit for busy working professionals, who will not have to make the time commitment for preparing for the exam and the admissions processes for programs.
Whatever the reason is to return for a MBA degree, completing an Executive MBA program as a busy working executive can have more benefits in the long run than completing a typical part-time MBA program. For more information on top-ranked Executive MBA programs, visit metromba.com.