Business is a varied and far-reaching field. Along with its plethora of fields and subfields, earning your business degree is likewise jam-packed with professional development options.
After 10 to 15 years of work experience, you may want to take your business knowledge and qualifications to the next level. This is where executive MBA, or EMBA, programs come into play.
You have undoubtedly heard of an MBA or masters of business administration. These are degrees that business-minded individuals pursue to further advanced their business knowledge after earning an undergraduate degree. MBAs cover a wide range of different business topics like human resources, data analytics, and finance.
In an MBA, students complete core courses in business administration, human resources, and more. EMBA programs further enhance business administration knowledge and skills.
An EMBA is one of the highest degrees you can earn. It builds upon the foundations set by MBA programs and takes it to a more advanced level. EMBA students engage with core courses dealing in international business, human resources, marketing, finances, and healthcare management.
Is an EMBA Program Right for You?
Going to business school may be intimidating, especially if you have not been in school for a long time.
Think of an executive MBA program as a sort of ‘pivot’ in your life and business career. Upon completion of an EMBA, you’ll enjoy a great deal of independence and autonomy in the job market.
Along with its versatility, EMBA programs are perfect for the busybody who already has a full plate. EMBA programs move at a much quicker pace, with more emphasis on balancing schedules and schoolwork.
A further incentive is the significant pay increase. EMBA holders experienced a 36 percent hike in their salary on average.
Misconceptions about MBA and EMBA Programs
MBA programs can undoubtedly seem like a little much. What happens if you have a degree in something not related to business? How can a biology major hope to benefit from becoming an EMBA student?
Let’s look at some myths and misconceptions about business schools and executive MBA programs. Don’t let these trains of thought derail you from becoming a potential student.
“There Is Simply Not Enough Time” or “I Won’t Be Able to Have a Social Life”
This one may be the most obvious. Who has time for graduate school when they have a life to live? It seems like a pretty reasonable excuse. However, EMBA programs can be completed more flexibly than MBAs.
Business leaders should be able to efficiently balance an EMBA program and their main career path. After all, EMBA students enjoy programs that are tailor-made for working professionals.
Many EMBA students find it rather easy to balance a successful career, social life, and studies. Many EMBA classes have a flexible schedule. Program students can modify their schedule to have classes only on Fridays and Saturdays if they wish. This unique scheduling possibility takes up more of your schedule but leaves the rest of your week virtually the same.
Add online executive MBA programs to the mix, and the flexibility for these programs grows exponentially.
“Business School Is Just for Business Students”
Just because you majored in history or science doesn’t mean you can’t benefit from an EMBA. No matter the subject, the professional development offered through EMBA programs is second to none. While business school probably has a large population of business leaders, accountants, economists, and statisticians, the students are a diverse group.
Many business school classes boast a diverse student body, filled with teachers, engineers, nurses, and more. Business school is more of a natural fit for those with preexisting careers or majors in the business world. However, it is by no means impossible for someone who didn’t major in business to join MBA and EMBA programs.
“I Don’t Meet the Requirements for Business School”
Even seasoned students with excellent GMAT scores and top marks may think of the term ‘executive MBA programs’ as lofty. However, many business schools and MBA programs have more relaxed admissions requirements than you would think.
Many MBA programs merely require students to have a bachelor’s degree. These laid-back requirements allow people to jump into a program after years of work experience; they will tackle the next step in their education at business school.
As is the case with many MBA and EMBA programs, you will most likely need at least two letters of recommendation. Likewise, you will need your GMAT scores. If you have already completed an MBA program, this is not outside of your comfort zone. There are even MBA programs that don’t require GMAT scores.
Compared to MBAs, EMBA programs require students to provide a little more. Many EMBA students have about ten years of work experience under their belts before joining an executive MBA program. For those with years of work experience, taking the Executive Assessment (EA), instead of submitting GRE and GMAT scores, is an option.
“I Already Have a Successful Career, Why Do I Need to Learn More?”
If you are a business professional with a lucrative career, you may be satisfied with where you are. You may see enrolling in a global EMBA program as unnecessary or even frivolous. After all, you are already thriving in your current career path. What more could you ask for?
However, the process of learning never truly ends. Some careers only allow for a certain level of advancement based on the degrees you hold. You may be successful, sure, but do you know everything in your field?
By joining an MBA program, you will learn more relevant skills, practices, and concentrations in the business world.
Where to Enroll in an EMBA
Since MBAs and EMBAs are widespread, it is easy to feel lost when considering where to hone your business knowledge. Here are some of the best EMBA programs to explore.
Northwestern University (Kellogg School of Management)
Tuition Per Year: $73,404
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According to the US News World Report, Northwestern University has the second-best EMBA program and part-time MBA. EMBA students can expect to focus on many different concentrations in Northwestern University’s EMBA program, including entrepreneurship, not-for-profit management, marketing, leadership, healthcare administration, organizational behavior, quantitative analysis/statistics, and operations research.
Students can choose from several MBA programs. EMBA students have a choice between full and part-time. The latter is held on Fridays and Saturdays to accommodate working professionals.
EMBA students will benefit from multiple guest speakers and various opportunities to enmesh themselves in organizations for research purposes.
University of Chicago (Booth School of Business)
Tuition Per Year: $72,000
The University of Chicago has one of the best EMBA programs and business school experiences. The University of Chicago’s Booth School of Business focuses on a ton of different concentrations, including general management, economics, entrepreneurship, accounting, international business, marketing, finance, production/operations management, organizational behavior, public policy, and management information systems.
The University of Chicago graduates enjoy an average salary of $139,725 after earning their executive degree.
University of California, Los Angeles (Anderson School of Management)
Tuition Per Year: $65,114
UCLA’s public research schools rank as some of the best in the country in terms of education quality and diversity. The university’s EMBA programs are perfect for business leaders who want to achieve their full potential. UCLA offers its EMBA students concentrations in accounting, consulting, economics, leadership, manufacturing, and technology management.
Program students can stick to Friday and Saturday nights for their education. You can even get your doctoral degree in financial engineering at the Anderson School of Management.
UCLA also partners with various business programs and foundations to assist EMBA students in their careers.
What Types of Jobs Can You Get with an EMBA?
EMBA programs equip students with some of the most advanced knowledge for their respective careers or positions. With this in mind, the potential jobs you’ll have access to are top-notch. Salaries for these jobs can shoot well past $100,000 per year.
Financial Managers
Median pay: $129,890 per year or $62.45 per hour
Minimum education level: Bachelor’s degree
Work experience required: Five years or more
Required on-the-job training: None
Job growth outlook: 16 percent (Much faster than average)
Highest-paying states: New York, New Jersey, Connecticut, Washington, DC, Delaware
States with the highest employment: California, Texas, New York, Illinois, Massachusetts
Financial managers’ responsibilities are very varied. They oversee things like financial reports, investment activities and long-term financial goals for businesses and corporations. Financial managers work mostly in larger companies and financial institutions. This is a promising career path, as its projected growth is impressive.
Enrolling in an EMBA program can propel your salary even higher than the median $129,890 per year.
Medical and Health Services Managers
Median pay: $100,980 per year or $48.55 per hour
Minimum education level: Bachelor’s degree
Work experience required: Less than five years
Required on-the-job training: None
Job growth outlook: 18 percent (much faster than average)
Highest-paying states: Washington DC, New York, Hawaii, California, Massachusetts
States with the highest employment: California, Texas, New York, Pennsylvania, Massachusetts
Aside from nurses and doctors, medical and health services managers are the backbone of the healthcare industry. They plan and outline policies, reforms, and other managerial duties that make everything run smoothly. Earning any sort of MBA in healthcare is a smart and prudent move.
Advertising, Promotions, and Marketing Managers
Median pay: $135,900 per year or $65.34 per hour
Minimum education level: Bachelor’s degree
Work experience required: Sales, marketing, business
Required on-the-job training: None
Job growth outlook: 8 percent (faster than average)
Highest-paying states: New York, New Jersey, Virginia, Colorado, California
States with the highest employment: California, Illinois, New York, Massachusetts, Texas
These business professionals are masters of their craft. They coordinate, plan, and execute elaborate and detailed business plans to generate interest in brands or products. This position requires a lot of expertise and years of work experience.
Along with planning ad campaigns, executives negotiate advertising contracts, develop pricing strategies, form relationships with clients, and oversee the hiring process.
Conclusion: Who Should Apply to EMBA Programs?
EMBA programs may not be for everyone. Full-time business schools can be a step too far, especially with a hectic schedule. If you are looking to advance your career or improve job prospects, enrolling in an EMBA program can be the answer. Upon graduation, your resume will be more impressive than ever.
If you feel like you need a ‘pivot’ in your life, becoming an EMBA student can be a fantastic option, especially if you want to take your career to the next level. Become a more effective business leader, expand your executive network, and improve your professional development.
About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication.
