Full-Time MBA vs Executive MBA
MBA programs come in various formats. In addition to the full-time MBA, there’s also a part-time MBA, executive MBA, distance learning MBA and so on. MBA applicants often get confused about these myriad options.
- What is MBA
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.
- What is Executive MBA
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.
Managing an MBA along with your job can be hectic and exhausting depending on your office workload. However, it is best suited for mid-level positions wherein professionals wish to acquire the required managerial skills and business knowledge to ramp their career graph without taking a career break.
- The good news is that you don’t have to quit your job to pursue an EMBA
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 on 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 management 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.
- MBA Entry Requirements
- Experience is not mandatory. It completely depends on the institute you are applying to.
- Most esteemed Business schools in India take a score of CAT, CET, SNAP, XAT, CET etc.
- EMBA Entry Requirements
- A minimum of 6.5 years of work experience (although over 10 years of work experience is more common among most EMBA students)
- Management or supervisory experience preferred (some schools require at least three years of leadership experience)
- GMAT or GRE (600 – 740)
- IELTS – average minimum score 7.0 or TOEFL minimum 100 internet-based, 600 paper-based
Acceptance criteria for an executive MBA tend to be less stringent in comparison to a full-time MBA. GMAT scores for an EMBA are lower and the selectivity is more favorable to applicants. The intake capacity is also very limited.
Students generally go for an MBA right after their graduation or after gaining experience of a couple of years. So the average age for an MBA program is 22 to 30. The average age of candidates going for EMBA is generally 32 to 38 years when they reach mid-level management.
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 executive 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 average annual salary for those doing an MBA from a renowned B-school is USD 90000 whereas the average annual salary for an EMBA is 164,845.
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.
Here is the sneak peek of the Executive MBA programs offered by Top B-Schools in India:
|Institute||program offered||Course Duration (months)||Course Fees (INR)||Exam|
Distance Learning MBA
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.
What is the career scope after distance MBA?
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.
Where can I do a distance MBA program in India?
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.