If you are having to ponder this question – MBA or Executive MBA (EMBA) – you are probably someone with 7+ years of work experience, over 35 years of age, and squeezed in that intersection area where you could decide on either an MBA or an EMBA. For the rest, lying on either side of this demography, the choice is more or less clear.
We will get into a deep(ish) discussion shortly. However, before we do, in the interest of those who need a bit of catch-up with the basics of what each MBA type is, here’s a quick snippet.
– MBA caters to the business administration education needs of those with 3-4 years of work experience from any background. They are usually about 28 years old and wish to engage in a full-time MBA program to enhance or gain business knowledge with the objective of a career change or career enhancement.
– EMBA caters to more experienced professionals who usually have some amount of managerial experience and have been on a payroll for longer than 7 or 8 years (average 14 years). They are usually well over 30 years of age and wish to engage in a program whilst keeping their employment going. Thus, EMBA is often offered as a weekend study program with spurts of more immersive weeks here and there, with the intent of letting students stay employed concurrently.
Make sure you aren’t confused on the terminology front. Read this: Executive MBA vs MBA for Executives – The Big Indian Confusion
Okay, now with the definitions out of the way, we will address the pointer question – Which is better for you, an MBA or an EMBA?
And to answer that, you need to look at your career goals, current professional situation, financial standing, and gauge an overall level of commitment and motivation.
Much like one would do before any regular MBA application. If anything, being in a position to weigh between the two MBA types only gives more options.
And here’s what you need to look at for comparing and ultimately choosing between MBA and an EMBA.
Motivation and Career Goal
There are usually two broad reasons why applicants choose to veer towards an MBA degree.
- The need to move on from a stagnant career for a fast track towards more responsibilities and success with the aid of a solid education and brilliant network.
- The desire to move on from a stagnant career to a whole new career path also with the aid of a solid education and brilliant network.
Drilling down though, here is how MBA and EMBA differ in the pursuit of career goals.
| MBA | EMBA | |
|---|---|---|
| Motivation | MBA can help propel your career forward with management training. It can also help you to pursue a whole new career path with the right electives, training, and networking. | EMBA is meant for seasoned professionals who want to enhance their career in the same field, often within the same organization. Think of it as jumping ahead management rungs and fast-tracking your development within your existing career into senior leadership roles. It is usually not suitable for a change in career, though we’ve seen exceptions to this rule. |
| Employment Outcome | Employability (2021 GMAC Corporate Recruiter Survey) is a promising outcome of MBA.
– 92% recruiters want MBA graduates with a 37% increase in overall job demand for MBAs, especially in consulting and technology industries. – 54% recruiters agree that MBAs have a fast-track career trajectory. |
EMBA students are already employed and surveys from Purdue’s EMBA class and 2020 EMBA student exit survey indicate higher leadership roles and accelerated salary hikes within first two years of graduation.
Employers value the expanded network for valuable professional contacts, fresh ideas and productivity, leadership and overall forward-looking culture imbibed in EMBA programs. |
| Salary and RoI | Salary and RoI are well-established for good MBA Programs. The median annual salary for MBA graduates is $115k, with 50% jump over direct-industry and 70% jump over undergrad median salaries (2021 GMAC Corporate Recruiter Survey). | Salary increase and ROI are rewarding for most good EMBA programs. EMBAC Survey 2021 reports an increase of 15% salary to nearly $200k and 50% increase in responsibilities. |
Student Experience
In not just the intent of the programs, they also differ vastly in the student experiences in education. From age differences, schedules, priorities to the available resources.
| MBA | EMBA | |
|---|---|---|
| Age and Work Experience | Full-Time MBA programs usually have a younger cohort. With 4-5 years of work experience, they are fairly fresh in their career, being more versatile and open to fresh starts in new careers. | EMBA programs have mid-management professionals looking to get into senior leadership roles. They usually have an average of 14 years of work experience.
Career change is usually not an option and career development within the same field is the primary objective. |
| Schedule | Usually 1 to 2 years, full time. Students typically live on-campus for an immersive student experience. Opportunities for networking and bonding with others – faculty/peers – are more. | Usually 2 years with classes held over weekends with immersive 1-2 week classes annually. There are fewer occasions to meet and mingle. Thus, networking needs a concerted effort. However, EMBA cohorts are highly experienced and valuable, once network is established. |
| Time Management | MBA programs are highly rigorous and full-time, eliminating the possibility of maintaining any employment on the side.
Students are more involved in student clubs, workshops, events, and internship opportunities, that are typically not available to EMBA grads. |
Students continue their existing employment and have to manage time between EMBA, work, and personal, responsibilities.
Time management can thus be a challenge for EMBA graduates. For the same, employer approval to pursue EMBA is a must. |
| Curriculum | All MBA programs include core and a multitude of electives. Internships, student labs and workshops, etc. are common. | Though EMBA and MBA share similar courses, the variety of electives are limited. Classes are more intense to pack a large volume of material in a tight schedule. The complexity is also higher given the cohort experience. |
Application Requirements, Tuition and Placement
The requirements for the two MBA types differ as well. While MBA has a larger competitive pool eyeing for the best seats in the best b-schools, EMBA is less competitive with fewer older and experienced professionals time-sharing their career with an advanced degree.
Here are some commonalities and differences between MBA and Executive MBA.
| MBA | EMBA | |
|---|---|---|
| Test Requirements | Typically, GMAT or GRE scores are needed to apply to most international MBA programs.
TOEFL, or other English language proficiency scores may also be needed. |
Usually doesn’t need a GMAT or GRE score. However, applicants may be required to submit an Executive Assessment score to prove quantitative readiness. |
| Documents | Resume, Essay, Transcripts, and Recommendations are usually needed. | Resume, Essay, and Employer Recommendation are needed. Employer Approval is compulsory as well to be able to continue studying while being employed. |
| Tuition and Cost of Education | Typically, famed international MBA programs can cost about $100,000 total. Scholarships and fellowships can be pursued.
The added cost of opportunity, with a career break of 1-2 years is also financially challenging. |
EMBA tuition is higher, often crossing $200k. However, students have the option of getting employer sponsorship.
Additionally, employment continuity helps ease the financial burden of education. |
| Placement | Most well-known MBA programs boast over 90% placement within 3 months of graduation with average salaries north of $100k. | EMBA students cannot avail placement since the EMBA programs honour their employer approval for the degree. However, an EMBA degree is ripe for being headhunted and rising to strong senior leadership positions. |
With these basics covered, if you are still struggling with the dilemma, ask yourself these questions to decide which is better – MBA or Executive MBA.
- What is your career goal?
- At what stage do you see yourself in your career? Do you consider yourself fit for senior leadership in the near future? Do you want to change your career track?
- Can you afford a business program – Time and Cost?
- Will your employer endorse your decision?
- And most significantly, do you think an MBA or EMBA degree will make you successful? Why?
Introspection and research will surely lead to a resolution. If you need professional help to tackle it in a structured manner, check out our career counselling for working professionals, you can seek us out at: info [at] mbacrystalball [dot] com
And for insights from real people and real application stories, check out our archives here:
- EMBA information and success stories
- MBA success stories
- Career change after Executive MBA
- Executive MBA from ISB (PGPMAX) vs full-time MBA offers in India (IIM) & abroad
Also read about Flex MBA vs Full Time MBA
Sources: 1, 2, 3, 4, 5 | Photo: Johann Walter Bantz on Unsplash
