MBA programs come in various formats. In addition to the full-time MBA, there’s also the part-time MBA, executive MBA, distance learning MBA and so on. MBA applicants often get confused about these myriad options.
The general approach in India for those interested in getting a master’s in business administration education (MBA) is to aim for one of the conventional 2-year MBA programs immediately after graduation. The IIMs, Symbiosis, and the other MBA institutions accept students right after their basic graduation. These institutes take into consideration the score of CAT, CET, SNAP, CMAT, MHCET, IIFT etc.
An EMBA (Executive Master of Business Administration) is like a common MBA, except for the fact that they are designed for experienced working professionals, particularly chief officers, managers or business owners. Because they are working individuals., EMBA students can attend evening or weekend classes, enabling them to finish the master’s degree within two years or less.
So though you’ll end up spending more on the program, your income stream is still on which can be a huge relief. At the end of the program, you have an ongoing job or if you land up with a better job option, you can go for it!
While the course load of an EMBA is rigorous, it is designed to meet the needs of a working professional. Classes are held during convenient times, such as evenings or weekends, and courses are focused towards executive level employees. Because of the agreeable schedule and sharpened syllabus, a student can maintain their current job without any adverse effects.Here are some broad points on the basis of which we compare both MBA and Executive MBA -
MBA course covers differents management subjects like accounting, marketing, finance, project managements etc. These are skills that are required for executive level managers.
EMBA is for experienced managers who have some exposure and experience in these varied domains. Since EMBA students are already in executive level positions, there are no introductory courses. An EMBA program is composed of core classes for a focused and defined curriculum that helps current managers obtain skills that can better them as leaders in their field. This ends up saving time and money.
Experience is not mandatory. It completely depends on the institute you are applying to.
A minimum of 6.5 years of work experience (although over 10 years of work experience is more common among most EMBA students)
An MBA degree in your CV helps you negotiate a higher salary. If you are an MBA from an esteemed B school, you get an easy foot in the door to most good multinational companies.Many professionals after reaching mid-level management feel the need to go through classroom study. In that case, the EMBA course adds to their qualifications and opens avenues for growth and promotion.
An Exec MBA (EMBA) generally tends to be much more expensive than a regular MBA from the same institution. Most companies also reimburse the cost of EMBA. Some businesses offer incentives for their employees to earn advanced level degrees. This can come in the form of paying for tuition (fully or partially) or guaranteeing a bonus upon graduation.In 2009, 32% of companies completely reimbursed employees for the cost of their EMBA degree. Some studies also claim that the actual payback period of an EMBA is 17 months only.
The biggest downside of EMBA is that the kind of a ‘complete MBA experience’ that a full-time MBA offers would be lacking. The social life and the networking opportunities that form an integral part of a full-time MBA program would not be possible on a similar scale due to limited time availability. The time spent in the class is much less and the interaction with your peers would not be as much as a full-time MBA could offer.However, the greater work experience of your batch mates would translate to a rich learning experience through interactive sessions. You develop hard and soft skills required to grow exponentially in your career.
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This is a means of obtaining an MBA without having to attend the program on the campus. This could be done through various correspondence courses, online course material and discussions, teleconferencing and videoconferencing.
The advantage of this model is that these courses can be completed from the comfort of our home and while continuing our current profession. Some of these programs also offer flexibility in terms of their course structure.
Distance MBA program helps in career advancement as it broadens your knowledge base and provides you with business concepts, problem solving skills and a better understanding of various business statements.
For those seriously looking at a complete shift in career, choose a program that can help you make this transition. The brand name of the university or college would be something recruiters might be interested in.
We’ve named a few of the distance learning programs that provide management education though there are many more that can be added to the list.
These include IGNOU, Sikkim Manipal University(SMU-DE), Symbiosis, ICFAI, MIT, XLRI, Institute of Management Technology (IMT), Annamalai University, NMIMS, Amity and Welingkar.
Priyanka Vermani is a Content Marketer by profession and Creative Writer by passion. She is an author of many educational books. She is Consultant at Proton.