The Executive MBA program has been designed for those who already work at the middle to senior management levels. The goal is to sharpen their leadership and management skills, while at the same time broadening their perspectives on business management. The EMBA is offered in an accelerated manner and provides a robust curriculum that focuses less on traditional academic teaching and more on peer group interactions. The opportunity to network, in other words, is a key factor in this degree.
Why Earn an Executive MBA?
The Executive MBA is designed for those who already have a great deal of managerial experience. This is why the curriculum can be delivered in an interactive, accelerated, peer orientated manner. The peer interaction lies at the heart of this degree program, allowing participants to learn from each other more than anything else.
The EMBA is for working professionals. This is why it is presented in such a condensed way, with students often meeting just once per week. They are divided into cohorts, allowing them to learn from each other outside of their own working hours.
Most people who complete an Executive MBA are sponsored by their employers. Being employed is, for many schools, a prerequisite to be able to participate in the degree, because there is such a strong focus on group work in which participants can learn from each other’s managerial styles and experiences. This means that your employer should support you financially, and also in terms of the money required to pay for the degree.
While each school sets its own admission requirements, those for the EMBA program are particularly competitive, as shown in those required by the Loyola University Chicago – Quinlan School of Business, which is representative of other schools. They are:
• Official transcripts for all forms of undergraduate and graduate education
• Two professional or academic letters of recommendation
• A statement of purpose
• A full resume, demonstrating at least five years of managerial experience
• An interview
• Being currently employed (full or part time) in a mid to senior level managerial position
Curriculum and Courses
The admission criteria are unique for each school, and so with the curriculum. This is why it is so important to look into accreditation, as this guarantees a certain level of quality in terms of the overall curriculum. That offered by the University of Pennsylvania – Wharton is a good representation of what to expect, and courses include:
• Foundations of Teamwork and Leadership
• Management Communication
• Responsibility in Global Management
• Microeconomics for Managers
• Regression Analysis for Business
• Managing the Productive Core of the Firm: Business Analytics
• Managing the Productive Core of the Firm: Quality and Productivity
• Managing the Productive Core of the Firm: Operations Strategy
• Fundamentals of Financial and Managerial Accounting
• Corporate Finance
• Macroeconomics and the Global Economic Environment
• Managing the Enterprise
• Marketing Management
• Marketing Strategy
Career Outcomes and Job Titles
The job titles for those who have completed an Executive MBA are vast and varied, although all tend to focus on senior executive levels. Some of the job opportunities are:
• Marketing Data Insight Analyst
• Employer Relations Manager
• Senior Coaching Manager
• Business and Insights Data Manager
• IT Trainer
• Maintenance Manager
• Career Coach
• Program Administrator
• Finance Career Lead
• Asset Management and Buyside Careers Lead
• Resource Management Team Coordinator
• Education Technology Systems Manager
• Business Analyst
• Data Manager
• MiF Career Lead
• Prospect Development Manager
• Reception Coordinator
• Operations Administrator
• Program Design Director
• Program Sales Director
• Email Marketing Manager
Job Salary & Outlook
The U.S. Bureau of Labor Statistics (BLS) has report that top executives earned an average of $102,690 per year as of May 2015. However, this is at bachelor’s degree level. Holding an MBA increases salaries by an average of $15,000 per year. The BLS also reported that there will be a 6% increase in demand for top executives from 2014 to 2024, which is as fast as the national average.
Scholarships and Grants
• Forte Fellows Program, which is a program that focuses specifically on encouraging women to study towards MBA programs. Currently, only 36.8% of those who graduate from MBA programs are women, and even fewer of those complete the EMBA. Similarly, the percentage of top executive jobs taken up by women remains incredibly small. The Forte Fellows Program aims to address this by providing financial assistance to female MBA or EMBA students who attend one of the 70 different business schools that the program recognizes. They must also demonstrate that they have exemplary leadership skills through both their classroom and professional work. Additionally, they must be committed to the advancement of girls and women through community development or mentorship programs.
• Richard A. Freund International Scholarship, which is a $5,000 award given to students who are interested in the management of quality at any level. This includes the EMBA should the applicant be from a relevant background, so long as they aim to apply it to areas such as applied science and/or math, total quality management, quality improvement, quality assurance, or quality control and its theories and applications. To be eligible, students must have a GPA of at least 3.25, which makes it incredibly competitive. The award must be used to pay for the cost of schooling and/or for the cost of housing. The scholarship is awarded once per year.
• Jane M. Klausman Women in Business Scholarship, which is an annual award sponsored by Zonta International. The goal is to ensure that women are able to become successful in business. Eligibility criteria, therefore, including being a woman and studying towards an undergraduate or graduate degree in a business management related field. The award ranges from $1,000 to $5,000 for cost of living expenses, books, or tuition. Any female student with a business major can be considered for the scholarship, so long as they are nominated by their local Zonta club representative.
• Aegis Alexander Graham Bell Scholarship, which is provided to those interested in MBA or EMBA degrees with a focus on the field of telecom. The scholarship is available in various amounts up to $8,750. It can be used to pay for tuition fees. To be eligible, students must have already completed a communications bachelor’s degree.