More and more companies are sending their managers to EMBA (Executive Master of Business Administration) programs to learn innovative and effective leadership skills.
One year executive MBA programs cut down on the amount of time before these companies can reap the benefits of the knowledge their managers gained through completing the program.
EMBA programs are not for everyone, though, and can be quite prestigious and selective.
Requirements to Apply
EMBA and one year executive MBA programs are designed for working students with professional experience in the field.
Most programs require applicants to currently hold a management position, so unless you have some kind of leadership role in your current company, an EMBA is probably not for you. Consider MBA programs instead, which have much less stringent requirements.
EMBA programs often require the following for application:
- Completion of a 4-year undergraduate degree in Business or a related field
- GMAT scores
- Minimum GPA at undergraduate institution
- Minimum number of years of professional work experience
- Employer recommendation(s) and support
- Demonstration of career potential
- Strong academic record
As you can see, you must have great potential as a leader in the business world to apply to an EMBA program.
Sometimes programs will waive the experience requirement if you can show (through your employment track record and through recommendations and endorsements from your current employer) your potential to become a great manager and leader.
An EMBA curriculum is rigorous and focuses on leadership potential as well as hot trends in the business world like global supply chain management.
Some programs culminate in a project that demonstrates students’ implementation of what they learned in their classes, and some have the option of a trip abroad to get acquainted with global business markets. Most programs are about 20 courses in length and combine longer seminars with shorter class sessions.
You will likely begin the program with a cohort of other students and take the same classes with that cohort for the entire duration of your degree.
Courses you might expect to see in an EMBA program include:
- Leadership Development
- Teams and Team Management
- Business Ethics
- Global/International Business
- Human Capital Analysis
- Competition Analysis
You’ll likely review key concepts you learned at the undergraduate level, but will learn much more about the complexities of the business world than you ever have before. Most programs are lock-step, meaning you are required to take certain courses at a certain time. There are often no choices in these programs, but they are designed to be diverse and give you a large breadth of information, hitting on everyone’s interests, over the course of the program.
Online and Hybrid Options
Many top ranked EMBA programs offer an online or hybrid option to their students. In a hybrid option, students attend most of their classes online, but are required to meet their cohort at the university for a number of days over the course of the program for workshops and seminars.
This is usually called a “residency requirement” and is often manageable even for people who live out of state. Fully online courses enable students to remain at home while they complete their courses, but still provide the networking and connection opportunities as hybrid or on campus programs through video conferencing and other collaborative platforms.
One Year Format
As you can probably imagine, one year executive MBA programs are quite intensive, especially since you’ll be working at the same time. These programs are designed for students who are wholly committed to increasing their knowledge of how to manage a business and its employees.
In a one year executive MBA program, you’ll be expected to pour many hours per week into your studies. You’ll most likely have to give up any responsibilities outside of work as well as any leisure time you have for that entire year. Only dedicated, focused students will succeed in these fast-paced programs. The fast-paced nature of a one year program, however, can really prepare you for the fast-past nature of a top management role in the business world.
Some EMBA programs can be pricey, so you might be wondering if it’s even worth it to apply for one. Recent studies and news reports indicate that the value of an EMBA is definitely there. The Wall Street Journal reported in 2008 that employers felt the resources and money used to send their employees to EMBA programs was worth the knowledge and training they came back with. Employers also reported that EMBA programs are improving year to year.
The Washington Post reported in 2012 that a salary increase with an EMBA is almost guaranteed and that EMBA holders will see a payoff within less than 18 months of finishing their degree because of that increase. If you can secure funding from within your company for part or all of your degree, it will definitely be a worthwhile endeavor. Company sponsorship is a growing trend, as companies see the benefits of employees with EMBA degrees.
As an alternative, one year MBA programs may be of interest to you as well.
What is an Executive MBA for Professionals
While some ambitious professionals might be asking how can I get ahead, they should be asking what is an executive MBA?
This graduate degree in Business Administration could mean more pay potential, promotion opportunities, and even new career endeavors for graduates. An executive MBA is a prestigious degree in the field and says to employers that graduates are serious about their role as leaders in the business world.
Executive MBA holders are trained to effectively lead people so that companies can become as successful as possible.
Who are EMBAs for?
Executive MBA (EMBA) programs are designed for professionals who currently work in any field. Managers and employees with leadership positions are often preferred for EMBA programs. Admissions representatives are looking for applicants who demonstrate strong leadership potential and have the promise of becoming one of the best in their field. This is why most EMBA programs require at least 5 years of professional experience and demonstrable leadership skills and qualities.
EMBA programs are designed to allow working executives and professionals to remain in their full time careers. This is different than most MBA programs, where students often attend full time and have no substantial career at the same time. Since most EMBA students hold executive or leadership positions within their companies and they’re looking to expand their knowledge through an EMBA program, it’s essential that they remain in those positions during the duration of the graduate program. The ultimate goal is to bring back innovation and enhanced skills to the companies where students are already employed.
Because this is one of the ultimate goals of an EMBA student, many employers will sponsor their executive and management employees to attend an EMBA program at little to no cost to the employee. Most programs will require sponsorship or recommendation letters from an applicant’s current employer in order to confirm leadership potential. Since companies are finding employees with an EMBA so valuable now, many of them are paying the tuition of these sometimes costly EMBA programs. All sectors of employees are represented in EMBA programs, from Energy to Biotechnology to Real Estate. An EMBA is truly a degree for the working, ambitious professional in any field.
Now that the basics of what is an executive MBA have been covered, you might be wondering what it is exactly that students in an EMBA program actually learn. Most EMBA programs are designed to be dynamic and mimic real world experiences. Like many MBA programs, EMBA programs follow a lock-step curriculum and calendar. A cohort of students begins their program at the same time and completes all coursework and other components together as a team.
Each program has its own set-up to meet the course hour requirement, but most design their course schedules around a working professional’s life. You won’t likely take more than a course or two at any given time, giving you the opportunity to devote enough time to your career. The required course work will cover a variety of topics, including:
- Global Management
- Managerial Accounting
- Corporate Finance
- Leadership and Team Development
- Product Development
- Risk and Crisis Management
As you can see, the courses in an EMBA program delve deeper into the basics that one might learn in an MBA program or in a job position as a manager. Many EMBA programs require a travel component, in which students can learn more about the global markets and international business. This is also a great way for the cohort to travel and work together as a team, a key component of an EMBA program. Some EMBA programs allow students to concentrate in a specific area of business, like Finance, Entrepreneurship, or Marketing, to suit their specific career needs and goals.
An EMBA is possible to earn online through an accredited institution. What is an executive MBA online like? You’ll get the same rigorous and dynamic training as you would in a traditional program. Online programs are cropping up more and more these days and enable students to save time and money over programs that require students to report to an on campus location a certain number of times per month or year.
Many online programs still offer (or require) travel experiences to their students in the form of weekend workshops/seminars or longer international trips. A handful of EMBA online programs have designed their programs to be completed within one year’s time, eliminating the traditional two year commitment that most EMBA programs require.
According to the Wall Street Journal, both employees and employers find immense value in an EMBA. In particular, employers who themselves hold an EMBA are supportive of their employees earning one, too. The Washington Post reports that increased salary after completing an EMBA is almost a guarantee to recent graduates. And if your employer steps up and pays for all or part of your program, there’s really nothing to lose. Now that you know what is an executive MBA program and what it can do for you professionally, don’t you think it’s time for you to look into earning yours?