For those management studies aspirants who are looking to develop their business & managerial skills in the workplace, MBA degree is a popular choice. After all, MBA is an internationally recognized management degree to start a career in business & management. However, an MBA program can prove to be a costly investment also with some top colleges charging more than $1,00,000 in its two-year period. An Executive MBA can prove to be an effective alternative to a traditional MBA program depending on your preferences & current requirements. But before you make a decision between Executive MBA vs MBA, it is important to understand the differences between these two programs & what they offer. This blog post Executive MBA Vs MBA: Which One Is Better and Why? will help you to make the final decision based on your goals. Let’s find out!
MBA vs Executive MBA
- MBA is a postgraduate degree suitable for those students to pursue who want to make a career in business & management.
- While pursuing a regular MBA degree, you have to intern with some company in the final year. This is basically to gain some hands-on experience in the field of business & management.
- MBA course teaches you the basics of the business covering accounting, economics, management & communications.
- EMBA (Executive MBA)
- EMBA course is specifically designed for working & business professionals who want to polish their practical business skills & increase their exposure to the corporate world. These are part-time MBA programs especially designed for working professionals who are currently in leadership or supervisory roles.
- EMBA coursework is less about general topics and more about solving management problems through assignments and examples. Curriculum is more focused on refining skills through real life management challenges.
Difference between MBA and Executive MBA
|An MBA is a regular postgraduate or master degree offered by the university to students so that they can have an in-depth understanding of business & management.||EMBA is a post-graduate degree program in management offered to business professionals or working management professionals of a company who wish to enhance their skills in the field of business or management.|
|Duration of Course – 2 to 3 years||Duration of Course – 1 to 2 years|
|The main focus of the MBA course is to give theoretical & management knowledge to the students of business & management.||The main focus of an EMBA program is to give practical knowledge of the corporate world, problem solving skills, & decision-making skills.|
|It’s a full-time course duration. The applicant has to study whole academic year||EMBA is a part-time course and the classes are held on Friday, Saturday & Sunday|
|For an MBA course, you have to manage your Fee on your own.||In the EMBA program, your employers pay for your tuition fees and sponsor it.|
|Bachelor’s degree with high GPA score||Bachelor’s degree|
|Years of Work Experience – Not required||10+ Years of Work Experience required|
|Expected 600-700 GMAT score required||GMAT entrance is required only if candidate has no bachelor’s degree|
|Schedule of Classes – Full Time||Schedule of Classes – Part-time|
|Age range of students around 20+||Age range of students around 30+|
|Fees – 40,000$ on an average||Fees – 55,000$ on an average|
|Career goals – Career start & advancement, Area specialization||Career goals – Leadership development, Fill in the knowledge gaps|
MBA vs Executive MBA: Eligibility Criteria
The Basic requirements for admission into MBA or EMBA programs remain more or less the same. These are:
- Bachelor’s degree
- GMAT or GRE entrance exam
- Total 2 to 3 years of work experience in case of an MBA or 5-6 years of work experience in case of an EMBA.
What is a GMAT exam?
GMAT means Graduate Management Admission Test. You have to appear for the GMAT entrance exam to gain admission into the international MBA program. GMAT tests your skills on verbal skills, reasoning, analytical skills & mathematics. You’ve to score well in GMAT to get an offer letter from international management schools.
EMBA Employer Sponsorship
Employer sponsorship means when an employer pays fully or in part of all the tuition fees of their employee’s EMBA program. In return, that employee has to continue working for the employer for a certain period of time to guarantee the benefits to the company on its investment.
Career Options after an MBA degree
- Management consulting
- Investment Banking
- Project Management
- Business Development
- Project Management
- Human Resources Management
Career Options after an EMBA degree
After successfully completing your Executive MBA degree program, you can look for more responsible positions in the same company and implement your newly acquired skills. A person can expect a pay raise also after an EMBA degree for his new skills & experience.
Executive MBA vs MBA salary
Research studies have shown that both EMBA & MBA graduates are likely to see a substantial increase in their salaries after completing their degrees. According to the last 2020 survey of around 1,500 US-based EMBA students, the average salary & bonus before the start of the program was $169,000 approx. and after completion of EMBA program, the average salary has risen to $193,000 approx.
In the same way, a latest 2021 survey report showed that the average salary for MBA graduates at US-based companies was around $115,000 approx., while bachelor’s degree holders make a median salary of around $65,000 approx.
MBA vs Executive MBA: How to Decide?
If you’re in the initial stages of your career, or trying to explore a new career opportunity, or even if you want to polish your business skills, then go for an MBA program. However, if you’re a working or business professional with many years of experience, and intending to enhance your existing skills & knowledge, EMBA is the right fit for you. EMBA is a flexible and focus-oriented program.
Both MBA & EMBA degree programs offer you credibility to your CV, allowing you to find diverse career opportunities and climb up the corporate ladder. Executive MBA vs MBA – Which one is Better and Why? depends on your career goals and current professional requirements. Hope this blog post must have made it clear to you the difference between MBA & Executive MBA and what they offer. That’s all for now! Liked this blog! Drop a comment and please share the Blog.