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Expert Answers to Biz Questions
Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz.
5 Reasons You Should Consider Getting an Executive MBA
If you are considering earning a master’s degree or even an MBA, you may have come across the term executive MBA. An executive MBA, or EMBA, differs from the traditional MBA in several ways. And it isn’t a niche degree either, as it is offered by several hundred universities. Here are five reasons you should consider getting an executive MBA instead of a conventional Masters of Business Administration degree.
It Prepares You for High Level Management
All MBAs provide training in leadership and management. However, an executive MBA is designed for existing management professionals and prepares them to advance to higher levels of leadership. A side benefit of the executive MBA program is that it attracts experienced managers. You’ll build a network full of experienced executives who could help you find a new job or refer new talent to your business instead of meeting a lot of young people who just finished their bachelor’s degree.
Not only that, but you’ll be able to gain from their experiences as well. Think of it as being in a boardroom instead of a traditional classroom. The level of people you’ll come across and the variety of sectors they come from will give you access to a wealth of knowledge you won’t get anywhere else. Knowing which types of struggle some may have encountered in their line of business and how they were able to overcome them could give you a blueprint on how to address similar situations later on.
It Saves You Time
Executive MBA programs don’t waste the time covering the basics that a business manager already knows. Instead, they restrict admission to those with five or more years of management experience.
They’ll focus on the material that would-be executives need to move higher up in the organization. Their classes include how to develop organizational leadership, cultivating business acumen and industry-specific knowledge. There are few or even no electives, but you aren’t wasting time in classes teaching what you learned in your first year as a manager. You won’t sit in basic marketing and accounting classes.
You could get an online executive MBA, eliminating the time and travel to campus. This would give you the opportunity to attend classes at a well-known school, even if there isn’t a program in your area. If you have a business, an online executive MBA allows you to attend classes on your schedule while giving you as much time as possible to focus on your business.
For example, EMBAs are overwhelmingly part time classes, whereas some MBA programs require you to take a year or two out of your life to earn the degree. If you went for a conventional MBA, it stretches out to a two- to three-year commitment when you’re attending part time. Executive MBAs are easier to finish because of their compressed curriculum.
Your Lessons Focus on the Real World
An executive MBA program knows that you’re an experienced manager and probably still working while earning the degree. You’ll be given case studies related to your job. You may be allowed to present analyses based on your real-world experiences. You may be able to approach your classmates and professors with real world problems and come up with solutions.
You’ll Start Thinking Globally, Not Just Locally
Even if you’re operating at the local level, economies are more interconnected than ever, and having a better understanding of global commerce will allow you to make better decisions and forecasts. Some programs will focus on immersion and help you understand the peculiarities of different markets, business culture, and local business models, which could be of great help in the future.
It Is Easier to Get in If You’re a Manager
If you’re working in management but want to grow your small business or move into the C-suite, you may not have the time to study for the Graduate Management Admission Test in addition to the MBA course material when you get in. Your lackluster performance in college is more likely to count against you when you apply for a conventional MBA program too.
When you apply for an Executive MBA program, they will often waive these requirements as long as you have demonstrated experienced as a manager. However, a few programs request a GMAT score, while some substitute the Executive Assessment test instead.
The Executive MBA teaches students how to be leaders at the forefront of an organization. This degree is invaluable to managers who want to move up or grow their organization.
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