What is an Executive MBA?

Executive MBA programs perhaps don’t receive as much coverage as their full-time MBA counterparts, but the benefits of an EMBA can far outweigh the traditional MBA route for some experienced working professionals. But what is an executive MBA? An EMBA covers similar content to an MBA (if you are unaware of what an MBA is, find out more here), but is formatted in a different way.

EMBAs are undertaken by people who are already employed full-time, and don’t wish to compromise their employment while furthering their business acumen. Applicants usually have extensive work experience under their belt and are seeking to take up senior managerial roles in their company. To really answer ‘what is an executive MBA’ we will break the typical program into three parts: lesson format, financing, and lifestyle.

EMBA lesson format

An executive MBA is taught part-time. Lessons will either take place on long weekends, where students are expected to stay in hotels with their cohorts while they study, or they will take place on evenings – this option is common with those taking local rather than international EMBA programs.

A huge emphasis is placed upon the importance of cohort learning. Students will be assigned to a cohort as soon as they begin lessons; these groups are usually vetted to offer skills and knowledge from different sectors to ensure a diversity of skills are brought to the table. Cohorts can be made up of entrepreneurs, ex-army personnel, managers and people with a medical background to name a few.

All lessons are taught together, and students are expected to study and plan presentations together in the hotels they are staying in as a team. On long weekends, students will study in block back-to-back classes and will break and lunch together. They are also expected to attend numerous networking events together with business professionals and alumni. Although networking isn’t a lesson per se, it is timetabled into program and is integral to the degree.

Financing an EMBA

Traditionally, companies will sponsor candidates in their workplace that show they have potential and talent in which it is worth investing to study executive MBAs. EMBA programs can cost up to US$150,000, so sponsored candidates must be very promising employees in order for the benefits of an EMBA to be worth the fee.

Full-time MBA applicants, however, are generally expected to fund themselves. Many if not most will need scholarships and assistance loans. In some cases, companies will only pay a proportion of the bill associated with executive MBAs; perhaps the program fees themselves will be paid for but related fees such as hotel accommodation and transport will not be included. If anybody is thinking of pursuing an EMBA but is unsure whether their company will foot the bill, negotiating things like this may make the investment feel like less of a gamble for a company.

There has been a notable increase in self-funded EMBA candidates in recent years; a range of scholarships and funding options have emerged in response to this. In these cases, it is still possible for a lot of EMBAs to comfortably pursue the degree owing to the fact that they are in full-time employment while they study.

Lifestyle of EMBA program

Student lifestyle on an EMBA program is vastly different to full-time MBA life. For one thing, people pursuing an EMBA tend to be older than their MBA counterparts, with more work experience under their belt. Executive MBAs don’t usually become as involved with campus life, largely owing to the fact that they are only there part time and cannot commit to many extracurricular activities. Also, students balance family life, work life and student life while studying, which, naturally, does not leave one with much spare time.

This can mean that executive MBAs take on a higher workload overall than full-time MBA students. Not many people can manage such an intensive regime, so applicants should be sure that they can handle the lifestyle that an EMBA is associated with – fast-paced, jet setting and tiring (as glamorous lifestyles tend to be).

So, while the answer to ‘what is an executive MBA’ might seem like ‘the most difficult year of your life,’ it will be rewarding. One of the main benefits of an EMBA is that students are able to implement what they learn in school directly into their professional lives. You will be able to see the improvements in yourself in a short space of time, and your employer will notice it too. Satisfaction stems from the sense of achievement that EMBAs feel once they have successfully completed a project, gained influential contacts or launched a successful campaign at work.

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