EdMIUMIf you’re keen on becoming a successful business person, you’re probably already considering studying at top-quality business schools abroad. An MBA degree is that the obvious choice, but would an EMBA be a far better option? This article shows Executive MBA vs MBA.
To make up your mind, you must first learn the differences between the 2 prestigious business degrees MBA and EMBA. Of course, you may also have to determine if you meet the mandatory requirements to be admitted for the degree and if you’ll be able to afford the schooling fee. We’ll cover all this and more, to create your choice easier.
In this article, let us look at:
- Executive MBA vs MBA – what is the difference?
- What type of students are MBAs and EMBAs for?
- Class schedule and study duration: Executive MBA vs MBA
- Top business schools offering great MBA and EMBA degrees
- Executive MBA vs MBA course curriculum
- Tuition costs of MBAs and EMBAs
1. Executive MBA vs MBA – what is the difference?
Masters of Business Administration or MBAs are a number of the foremost popular Business degrees from the last ten years that still attract an outsized number of international students, despite the high competition and pricey tuition rates.
First introduced at universities and colleges within the US, now you’ll be able to select from over 2,500 MBA programs from everywhere the planet, most of them English-taught.
On the opposite hand, EMBAs or Executive MBAs are considered the most effective investments you’ll be able to work your future. International business schools and universities introduced EMBA programs to answer the training needs of working executives, managers, entrepreneurs, and other business leaders.
Here are some universities we recommend for an MBA or EMBA degree:
· Northeastern University, the US
· Hult International grad school, the UK
· Robert Kennedy College, Switzerland
· BI Norwegian graduate school, Norway
· Maastricht University, Netherlands
But what is executive MBA and how does EMBA set apart from the regular MBA from their more traditional counterpart? Take a look at how MBAs and EMBAs are different in terms of a study schedule, admission requirements, curriculum and costs:
2. What type of students are MBAs and EMBAs for?
An EMBA (Executive Master of Business Administration) is same as the standard MBA, apart from the actual fact that they’re designed for knowledgeable working professionals, particularly chief officers, managers or business owners. Because they’re working individuals, EMBA students can attend evening or weekend classes, enabling them to end the Master’s degree within two years or less.
Most EMBA students are between 32 and 38 years old, while the typical age for MBA students ranges between 24 and 30 years old.
3. Class schedule and study duration: Executive MBA vs MBA
The class schedules for a standard MBA degree are less flexible. Most MBAs are full-time; students have intensive schedules, which don’t usually allow them to mix the MBA with an everyday job. An MBA usually takes two years to finish, but it is often extended to 3 or four years if you select to review part-time.
Other differences relate to the special services offered to EMBA students, which MBA students don’t have the benefit of. EMBA students are offered registration assistance, meal delivery, textbooks, and other helpful tools. This could be executive MBA benefits.
They even have identical colleagues throughout the complete duration of their course, compared to MBA students who usually have different classmates from one year to the opposite. In terms of networking, meeting new people every year is an unbeatable advantage for MBA students.
Here is the difference between executive MBA and MBA admission requirements mentioned below:
MBA degree application requirements
· Bachelor’s degree in any field
· Transcript of records
· At least 3 years of professional work experience
· Experience in an exceeding supervisor role is not mandatory, but it’s preferred
· GMAT exam score
· GRE exam score
· Minimum English scores: IELTS Academic 6.0, TOEFL iBT 70, PTE Academic 60
Letters of recommendations
· Resume/CV
· Minimum ordinance (only at some universities)
EMBA degree application requirements
· Bachelor’s degree in any field
· Transcript of records
· A minimum of 3-5 years of labor experience (although over 10 years of labor experience is more common among most EMBA students)
· Management or supervisory experience preferred (some schools require a minimum of three years of leadership experience)
· GMAT or GRE test scores
· Minimum English language test scores: IELTS Academic 6.5, TOEFL iBT (80), or PTE Academic (60)
· Letter of motivation
· Letters of reference
Keep in mind that the admission requirements for MBAs and EMBAs listed above are general. Many universities might need additional criteria or they will require higher English or GMAT/GRE test scores. Always check the program study page or the university website for the official requirements.
4. Top business schools offering great MBA and EMBA degrees
According to the QS Rankings, these are a number of the highest business schools worldwide where you’ll study an MBA and executive mba abroad:
· Harvard University, the US
· INSEAD, France
· London graduate school, the UK
· SDA Bocconi School of Management, Italy
· National University of Singapore (NUS), Singapore
· Copenhagen graduate school, Denmark
· Erasmus University Rotterdam, Holland
· Ramon Llull University, Spain
· The Hong Kong University of Science and Technology, urban center SAR
· The University of Melbourne, Australia
5. Executive MBA vs MBA course curriculum
Most MBA programs include a basic curriculum of subject areas, like accounting, economics, marketing, and business operations, in addition as elective courses that allow participants to amass more knowledge about fields of study in step with their own personal or professional interests. Within some business schools, MBA candidates can complete an internship at an organization or organization, which might cause possible job opportunities after completing their MBA.
Students can even specialize in fields like Health Care, Sports Management, Hospitality, and provide Chain. Additionally, most times, MBA students can choose when to require a category and those they can select from a large range of electives.
The curriculum for an EMBA is analogous thereto of a daily MBA, with the sole distinction that classes are more fast-paced. a number of the more general courses including studies in entrepreneurship, finance, management, marketing, and strategic management.
6. Tuition costs of MBAs and EMBAs
The cost of an Executive MBA program is variable betting on the college you attend, but it’s usually on top of the tutoring of a standard MBA program. There are ways to fund your Business degree and you would possibly even cover a minimum of a part of your tuition through a benefits package provided by your own employer.
Between 80-90% of companies pay their employees’ tuition for an Executive MBA and a few of the foremost Fortune 100 corporations will assume partial or the complete cost of an MBA course.
Average MBA degree costs
In the U.S.: around 50,000 USD
To this amount, you’d must add another 20,000 USD for boarding and book expenses, betting on your location.
In the UK: around 15,000 GBP
In the remainder of Europe: between 36,000 and 65,000 USD
However, you’ll be able to find business schools or MBA programs within universities in Europe that cost between 15,000 and 36,000 USD.
Average EMBA degree costs
In the U.S.: 160,000 USD
However, you’ll also find EMBA programs that cost 50,000 USD.
In the UK: 18,000 GBP
The rest of Europe: between 21,000 and 29,000 EUR
Since the value for these study opportunities is incredibly high, all MBA students consider ROI (return of investment). It seems the common tuition payback time is between four and 7 years.
Both study options give you unique credibility within the business environment, allowing you to seek out career opportunities in a very big selection of industries. MBAs and Executive MBAs are recognized everywhere, so you aren’t limited to finding employment in your home country. An MBA or EMBA graduate usually earns a better salary, starting from 90,000 to 150,000 EUR each year on average.
