Executive MBA Programs: For the Big Kahunas
Executive MBA programs are part-time MBA programs with exclusive membership requirements. Students are typically seasoned managers with approximately 10 years of work experience. This is in contrast to traditional MBA students who normally have less than 5 years of experience and, in some cases, are admitted straight from college.
Many Executive MBA programs are fully or partly lock-step in nature, meaning that all students take the same courses at the same time over their studies. The duration of the programs are typically 2 years with classes held on weekends, allowing executives to carry on with their jobs. Compared to traditional MBA programs, a greater reliance is placed on the work experience of students to drive the discussion, and a team approach is often used to elicit diverse perspectives.
Part Time Students with Big Jobs
An Executive MBA is geared toward executives with an appetite to acquire or refresh their business knowledge. These programs hold classes on weekends and often less frequently than traditional part time programs. For example, an Executive MBA program might hold classes on alternate weekends whereas a traditional part time program might hold classes three times a week in the evenings.
Expensive...but You Keep Your Job!
A part time MBA can be just as expensive as its full time brethren in terms of tuition , but the opportunity cost of foregone wages isn't present. Classes are normally held in the evenings or weekends, so you can hold onto your day time job. If you're in a high paying position, this translates to significant savings.
Higher Likelihood of Tuition Reimbursement
You stand a better chance of getting financial support from your employer if you enroll in an Executive MBA than a full time MBA. After all, you'll apply what you learn in school in your job, day in and day out. And by the end of the program, you'll have a new credential and have become more valuable to your company.
One of the biggest complaints of part time MBA programs is work life balance. Holding a job and studying part time for your MBA is a lot to juggle, particularly if you have a family, a demanding career, or both. Research your school's course schedule and time commitment ahead of time to make an informed decision.
Longer Time to Earn MBA
Executive MBA programs may take longer to complete than full time programs. Consequently, instead of completing your studies within one or two years, it may take two or three. This isn't necessarily bad, it simply means that your journey will be a longer one.