What is an Executive MBA?

An executive MBA program provides business leaders, entrepreneurs and top level executives the opportunity to improve their existing managerial knowledge and expertise by providing a unique setting of classes that are well suited to complement their work schedules. The EMBA program is designed specifically for individuals with considerable work experience in the business field already, who want to improve their knowledge on the upcoming managerial trends, leadership qualities and build a peer network within their industry. It is a high quality degree that attracts experienced and talented business professionals from a variety of different fields, such as health care, IT, banking, manufacturing and so on.

According to a 2010 Executive MBA Council survey, the average age of EMBA students is 37 years and they enter the program with an average 13 years of work experience, 8 years of it being in some managerial capacity. The executive MBA program is typically sponsored by the company and classes take place once a week or bimonthly. It is an accelerated program which allows students to complete the program within two years while causing no interruption in their work schedules.

Executive MBA vs. Traditional MBA Program

The executive MBA program differs in many aspects from the traditional MBA program. Some of the major differences are:

Course Format

Executive MBA courses are in a step-lock grid with pre-assigned courses each semester unlike the traditional MBA where you are allowed to pick your courses in each term. Typically, an EMBA class has the same students and classmates for the entire two year program.

Class Schedule

Since executive MBA students are working individuals, classes usually take place for an entire day once a week or bimonthly. According to the Executive MBA Council research, 35% of EMBA classes meet weekly while 34% meet every two weeks.

Admissions

In order to be admitted to a top executive MBA program, an individual must have a minimum of 5 years work experience as a business leader. Taking the GMAT is not a requirement as it is for the traditional MBA.

Services

Other than providing an opportunity for building a peer network, an EMBA comes with a number of staple services that are designed to reduce the pressure on working individuals. It is considered standard to provide help with the registration process, provide meals during classes and supply all necessary books and materials to EMBA students.

Finances

Most Executive MBA programs are sponsored entirely by the company they are currently working in. While some companies also sponsor traditional MBA programs, most students either take out student loans or obtain scholarships to pay for their studies themselves.

Advantages of an Executive MBA

An executive MBA program is well suited for those with considerable work experience and is used to advance their knowledge and networking skills. While the course material may be similar to other MBA programs, an executive MBA program forms great leaders and helps executives and entrepreneurs strengthen their businesses and bring success to their companies.

Full Time MBA

A full time MBA is pursued by individuals who have recently graduated from college and have not committed to a full time job as yet. You invest all your time into this program and stay out of employment for the most part. Depending on your program, it can be completed fairly quickly, between one and two years. Students usually obtain scholarships, assistantships or take out student loans in order to fund their MBA program, in hopes of obtaining high paying jobs right after graduation. You may also take up an internship halfway through the program, in order to gain some practical work experience and to make useful contacts in the field that may be helpful for future employment prospects.

Advantages

• Program completed quicker.
• Wider variety of courses and electives to choose from.
• Allows time for internship.
• Offers career services that help procure suitable employment upon graduation.

Disadvantages

• Being out of work for the duration of the program.
• Higher chance of accumulating debt.
• Risk of not finding the best suited job after specializing in a particular field.

Part Time MBA

A part time MBA is for individuals who have already entered the workforce and do not want to forego their current income to advance their careers. Typically, working professionals with full time jobs enroll in these programs and attend MBA classes in the evenings, after business hours. In some cases, the employer even pays for the part time MBA program for their top employees.

The courses are similar to full time MBA programs but are spread out over a longer period, making it easier for those with other personal and professional obligations. There is no break in between for internships as they are already working and gaining the practical knowledge. It is mostly pursued by those willing to study after work hours so that they can raise their salaries at their current workplace or find a higher paying employment. Part time MBA is becoming popular these days due to the state of the economy, where individuals are forced to keep their current jobs while pursuing higher studies.

Advantages

• Keep a full time job and continue earning income.
• Evening classes suited for working individuals.
• Employers may fund the program.
• Slower pace, thus easier to cope with.
• Can apply course material to the real world workplace simultaneously.

Disadvantages

• Usually not given career services by the university to advance your career.
• Bound to an employer if they fund your education.
• Hard to juggle work and school together.
• Takes a longer time to complete the program.

While both programs have their pros and cons, finding the right program mostly depends on your current professional situation and your personal future goals. In the end, both programs are designed to earn you an MBA degree which is intended to advance your career in the field of business studies.

What is an MBA degree program?

An MBA degree is a graduate business degree program that is earned through traditional or online coursework in a business school. Apart from regular class work, often real world business challenges are imposed upon students as well. The objective of the MBA program is to educate and train individuals to handle different areas of management responsibilities within a company.

Features of an MBA Program

• Teaches how business is conducted within the United States, as well as globally.
• Teaches how to open and operate one’s own business venture.
• Encourages innovation and creative thinking to discover new ways of conducting business.
• Enhances your way of thinking to help you grow and develop your area of operation.

Benefits of an MBA program

According to a recent study by the Graduate Management Admission Council, an MBA degree results in a 40 percent increase in annual salary, depending on the current and future job position of the student. A graduate degree in business gives one the opportunity to gain expertise knowledge in a field so that they can better manage the business. It is expected that in the years 2011-2012 in the United States, the demand for MBA degrees with a concentration in Finance/Accounting, Healthcare and Information Systems is to rise sharply.

While most people confirm that obtaining an MBA degree accelerates their career and future success, others agree that they had better chances of finding suitable jobs after obtaining an MBA degree.

Types of MBA programs

• Full time MBA programs are designed for those who have not entered the workforce yet and can dedicate their entire time to the completion of this degree. These programs are usually a one-year or a two-year degree.
• Part time MBA programs are pursued by individuals who are already working full time or have other personal obligations that do not allow them to dedicate their entire time to the program.
• Online MBA programs are once again designed for working individuals who want to pursue the program from home. These are self-paced and flexible, allowing time for work and other personal activities.
• Executive MBA programs are for established managers and executives who wish to expand their existing knowledge. The programs are usually conducted over weekends or online.
• Other Graduate Business degrees are other specialized Masters degrees that concentrate on a specific field in business such as Information systems, Finance, Accounting etc.

An MBA program is unarguably a step forward in the career of anyone pursuing business studies. Determining which program is right for you, the field of concentration and the time you are willing to dedicate to it will help you decide how to pursue and take advantage of this degree.

All Grades Not The Same

Not all grades are the same, though. Admissions committees study the courses taken: a B in Advanced Statistics is worth more than an A in Introduction to Pottery. In other words, they consider the context of the GPA: Where was it obtained and of what courses is it comprised? In many cases, it’s better to have a lower GPA composed of solid challenging courses than a high GPA based on easy courses like “Basket Weaving for Beginners” and the like. Admissions committees study your transcript and examine your overall GPA as well as the GPA for the courses relevant to the programs to which you’re applying (e.g., GPA in science and math courses for applicants to medical school and graduate programs in the sciences). Ensure that you’re taking the right courses for the graduate program to which you plan to apply.

Standardized Exams For Standard GPA?

Admissions committees also understand that applicants’ grade point averages often can’t be meaningfully compared. Grades can differ among universities: an A at one university may be a B+ at another. Also grades differ among professors in the same university. Because grade point averages are not standardized, it’s hard to compare applicants’ GPAs. Therefore admissions committees turn to standardized exams, like the GRE, MCAT, LSAT, and GMAT, to make comparisons among applicants from different universities. Therefore if you have a low GPA, it is essential that you try your best on these tests.

What If I Have a Low GPA?

If it is early in your academic career, for example you are in your sophomore year or beginning your junior year, you have time to boost your GPA. Remember that the more credits you have taken, the harder it is to raise your GPA, so try to catch a spiraling GPA before it does much damage. What it it’s too late?

• Try your best (obviously).
• Take high quality courses. Sure it’s easy to raise your GPA with introductory courses and so-called “easy A’s” but admissions committees see through those tactics. A lower GPA composed of high quality courses will do you more good than a high GPA composed of “easy” courses.
• Take more classes. Don’ t just take the minimum number of courses needed to graduate. Instead take more courses so that you have more opportunities to raise your GPA.
• Take summer courses. Summer classes are intense but they permit you to focus entirely on one (or two) classes, which means that you’re likely to do well.
• Consider delaying graduation. Spend an extra semester or more in school to take courses to raise your GPA.
• After graduation, take a few graduate courses or challenging undergraduate courses to show your aptitude. Point to your performance in these classes as an indictor of your capacity for graduate work.