While many students have some knowledge about the examinations they need to crack to study MBA and also know about the various specializations provided in MBA they are not yet aware of the EMBA or executive master in business management. If you are among the ignorant lot then this information will help you a lot to decide about your future. Most people tend to misunderstand executive MBA as a higher level of MBA studies whereas in reality it is the same as a normal MBA. There are only some major differences between the two. Let us see how they are different to help you decide which type of MBA is best for you.
What are Executive MBA and Regular MBA?
Regular MBA is mostly for freshers with little to no job experience where they just graduate and sit for entrance examinations, cracking them and getting an admission to MBA colleges as a regular student. Executive MBA on the other hand is mostly for those individuals who already have work experience for many years and are looking forward to either enhance their skills or enhance their position in the company for a higher post and perks in salary. Do not confuse it with distance MBA as in executive MBA you need to attend classes. Now let us see the differences between the two.
Eligibility Criteria for Executive and Regular MBA
Work experience is required by some colleges for regular MBA but most colleges do not require it but if you want to pursue executive MBA a 10 year or more work experience is mandatory. The more diverse your business knowledge through work experiences the more chances you will have to be selected. Regular MBA stresses a lot on GMAT and other entrance exam scores whereas this is not given emphasis in executive MBA admissions as they choose only the most experienced candidates with 10 year or more work experience. The only this needed is graduation.
Mode of education and duration : Executive MBA vs Regular MBA
The mode of education is different in regular MBA and Executive MBA with regular MBA classes being more intensive, challenging and demanding than EMBA classes. The EMBA classes are mostly held online, in weekends or on holidays or in the evenings to make it possible for the candidates to continue their job along with studies. The EMBA classes go off at a faster rate as they complete the entire regular MBA syllabus in a very limited span of time. This is not a problem as the experienced candidates who mostly belong to the age groups above 30 are able to grasp it quickly.
The money factor
The fees for regular MBA is slightly lesser as compared to executive MBA but Executive MBA candidates benefit more. This is because they get scholarships as well as they are able to work while studying therefore even if they self fund the course they can wave off the loan in a matter of a year. They also do not have to worry about getting placed to wave off loans. Secondly most companies pay for their employees’ MBA.
If you are working somewhere and ask me whether a regular MBA would be a better choice or doing an Executive MBA, I would suggest you to go for Executive MBA. If you are a fresher, you can opt for regular MBA.