There are several ways to boost one’s professional career. When it comes to advanced degrees, two great options are a MBA or an Executive MBA. Contrary to popular belief and despite being off by just one letter, the programs are not one and the same. Read on to find out the difference between an MBA and an EMBA.
Choosing between a MBA and an EMBA may depend on your goals. Individuals with 10-15 years of professional experience may find EMBA programs to be more rewarding. This is because MBA curriculums are designed for individuals with less work exposure. A MBA is a great way to step up in an industry by taking on new roles and positions.
On the other hand, an EMBA can be used to enhance a set of already established business skills. That’s why prospective MBA candidates need to consider if it’s a better idea to wait a few years, gain experience in the industry first and then go for an EMBA.
Commitment and Student Profiles
An MBA and an EMBA require steadfast commitment to complete. However, this does not mean that both programs need a 24/7 grind approach to learning. An EMBA candidate is likely to have a family and an engaging career that he or she can’t leave behind. In order to accommodate rigid lifestyles, schools that offer EMBA programs strategically hold classes at night or on the weekends.
MBA programs require a more traditional approach to learning. Classes are mostly held in the day and schedules are less flexible. With that being said, it is normal for a MBA candidate to leave his or her job temporarily to pursue the program. Due to the cost of the advanced degree, some companies offer to pay for a top performing employee’s MBA tuition, with the agreement that he or she will continue working for the company after graduation.
Focus of Study
When it comes to focus and curricula, MBA programs tend to be more concentrated on specific areas of business such as marketing or finance. EMBA programs cover business studies from a strategic perspective, extensively covering all aspects of the industry. If you’re looking to use your degree to reach C-level and director titles, then you will want to pursue an EMBA.
Acceptance Rates and Requirements
From a competitive point of view, it may be harder to get into an Executive MBA program due to the work experience requirements and limited slots. It is important to take note that EMBA programs are not as common as MBA programs. Most top-tier universities offer a graduate MBA program. If you’re in an area where EMBA programs are hard to come by, though, it’s okay. Consider earning your EMBA online and study from the comfort of your home.
If you’re young and are looking to advance your career, then it might be worth looking into an MBA. If you have an already established professional career and are looking for new ways to enhance your skillset, an EMBA might be more suitable for your goals.