There are hundreds of business degree programs offered across the globe, but choosing the best out of the rest seems to be a challenging job.
Before drawing a conclusion with your choice, it is imperative for you to do thorough research on this.
There are many deciding factors on choosing the best business programs.
This article will help you in drawing a clear picture in choosing an MBA or an EMBA.
To deep dive further, lets us first understand the program in a concise way :
Master of Business Administration referred to as MBA is a general management degree. This can be one year or two years and both tend to be full-time degrees.
Executive Master of Business Administration referred to as EMBA is also a general management degree. This can be done part-time, taking around two to four years of time to complete.
Some EMBA is even designed in two forms, can full-time as well as part-time. Usually, the full-time EMBA is for a duration of 12-15 months and part-time EMBA is for 2-3 years.
Generally, the defining difference between the MBA and the EMBA is the time schedule, but there are many others factors that need to consider.
In this article, I will discuss the difference between MBA and EMBA under the following bullet headline mentioned :
1. Overview of the MBA and EMBA program
Master of Business Administration is designed for those who have recently graduated or for middle-level career professionals.
This will help them in getting deeper knowledge, help in skill enhancement, and also them in exploring various other career opportunities.
EMBA is developed for working professionals. This is designed for enhancing their knowledge, managerial abilities, and leadership capabilities.
2. Average Age
The simple difference between the MBA and EMBA is the profile of the students.
MBA aspirants are generally younger with an average age of 28 years with around 3-5 years of working experience.
While EMBA students have more years of professionals and working experience.
The average age of the EMBA aspirants is 38 years with a working experience of more than 5 yrs.
3. Application Requirement
Mentioned below is the general application requirement for most colleges and Universities. Many universities have extra requirements, which should be checked before applying in those places :
- Bachelor’s degree in any field
- Transcript of records
- At least 3 years of professional work experience
- GMAT exam score
- GRE exam score
- IELTS Academic 6.0, TOEFL iBT 70, PTE Academic 60
- Letters of recommendation
- Bachelor’s degree in any field
- Transcript of records
- A minimum of 3-5 years of work experience
- GMAT or GRE test scores
- IELTS Academic 6.5, TOEFL iBT (80), or PTE Academic (60)
- Letter of motivation
- Letters of reference
4. Tuition costs
The tuition cost depends upon the school and the location where you are going.
Usually, the EMBA program is more expensive when compared with the traditional MBA program.
The average cost of the MBA degree
- In the U.S the tuition cost is around 50,000 USD
- In the UK, the tuition cost is around 15,000 GBP
- In the rest of Europe, the tuition cost is between 36,000 and 65,000 USD.
- There are other MBA programs within universities in Europe that cost between 15,000 and 36,000 USD.
The average cost of the EMBA degree
- In the U.S, the tuition cost is around 160,000 USD
- However, you can also find EMBA programs with tuition that cost 50,000 USD.
- In the UK, the tuition cost is around 18,000 GBP
- In the rest of Europe, the tuition cost is between 21,000 and 29,000 EUR
5. Company Sponsorship and Funding
MBA is generally self-funded across the globe.
There are various scholarships and financial packages, loans available to the business schools themselves.
EMBA is generally employee-funded across the globe.
The fund can be partial or full depends on the decision of the employee and the employer.
There has been a trend of self-funding in EMBA in recent years. There are various scholarships and financial packages, loans available to the business schools themselves.
6. Workload and Lifestyle
The student’s lifestyles will be very different on the basis of the program they have opted for.
Full-day MBA will a rigorous and stringent, who will spend more time with the classmate in the classroom, in the library, or at networking and MBA events on evenings and weekends.
EMBA students, have to balance a significant and continuous work balance alongside their academic schedules, courses, and a 9 to 5 job.
In short a balance between work and studies needs to be maintained.
7. Program Duration
The course duration of an MBA is two years.
While the duration of EMBA is 1 year to 4 years depending on the kind of program one has chosen.
MBA: The classes are more thus it makes them difficult to get along with any other activities.
The curriculum is more or less the same with similar skills but the flexibility is more choosing the electives.
A regular MBA is like a Marathon.
EMBA is a part-time program because of which they can either go for the online as well as the offline classes.
Offline classes are generally scheduled on weekend or evening depending on the kind of format the students has selected.
The curriculum is quite similar but with a lesser number of electives.
EMBA is like a Sprint
The MBA graduates get a significant monetary return after completion of the program.
While the salary increment for the EMBA is less than MBA. But they get the opportunity of more job responsibility and good promotions.
MBA: There are several opportunities that an MBA graduate gets. Some of them are mentioned below
- To start an accelerating career
- To shift their career to the next level, if you are already having experience
- To foster an innovative perspective
- To add extra brand value to yourself
- To magnify personal growth
- To start a business or become an entrepreneur
- Improve leadership skills
- Network and create connections
- Manage critical situations
- Make tough calls at the right time
EMBA: There are several opportunities that an EMBA graduate gets. Some of them are mentioned below
- Get the ability and the skill to apply immediately into your job
- Increased scope of personal and professional networking
- Accelerate your career exponentially
- Increase the leadership qualities and skills
Here are a few universities and B-Schools where you can apply for an MBA or EMBA :
- London School of International Business
- EMAS Business School
- Sabanci University
- PSB Paris School of Business
- Walden University
- Hult International Business School
- Montpellier Business School
- Maastricht School of Management
- IE Business School
- Bocconi School of Management
- Indian School of Business (ISB), Hyderabad
- Indian Institute of Management (IIM), Ahmedabad
- Indian Institute of Management (IIM), Bangalore
- Indian Institute of Management (IIM), Calcutta
- Indian Institute of Management (IIM), Lucknow
- Xavier School of Management (XLRI), Jamshedpur
Coming back to your question of.” Which is a better choice for a successful career MBA or EMBA”.
I think here the answer is very subjective and depends on what a person wants to make out of their MBA degree.
There is nothing better or best between the two because the answer lies in your situation.
Comment below with your feedback on the article.
All the very best for your Skyrocketing Career.