What is an Executive MBA Program (EMBA)?
An executive master’s in business administration, or EMBA, is a unique type of MBA program that is typically completed part-time while students continue to work full-time. It offers unique advantages that differentiate them from traditional part-time MBAs.
In the United States, part-time programs remain the most popular delivery configuration for MBA degrees, enrolling about 56 percent of students. Besides executive MBA programs, these include evening and weekend programs geared towards working professionals, sometimes called professional MBA (PMBA) or fully-employed MBA (FEMBA) programs. Matt Hazenbush, a research communications manager at the Graduate Management Admissions Council (GMAC), calls part-time MBA programs “nearly synonymous with graduate management education itself.”
At most business schools, part-time students—including EMBA students—earn the same MBA degree as the full-time students and benefit from the same alumni network. Many reports suggest that most recruiters and hiring managers do not care if one attended a full-time or part-time program. For example, Duke University MBA graduate Sam Lee says, “I’ve never had a hiring manager ask me if I did my MBA full-time or part-time, and as a hiring manager myself, I never once asked a candidate that question either; it’s simply not relevant.” However, this time commitment is one of the only similarities between executive MBAs and part-time MBAs.
EMBA programs differ from other MBA options in three main ways, according to Patty Keegan, an associate dean at the University of Chicago’s Booth School of Business:
- EMBA students are generally more experienced and at a point in their careers when they are preparing to take on executive management responsibilities.
- The curriculum typically focuses on general management and is a planned, fixed curriculum, where the school determines the sequence of courses and the faculty.
- Students progress through the curriculum in lockstep as a cohort and graduate as a group.
Outside of these three main factors, there are other smaller differentiators, which are covered below.
More Experienced Students
Executive MBA students only account for about 13 percent of all MBA students. University business schools design executive MBA programs for a smaller group of seasoned executives aspiring towards top management roles. That was the intention behind the University of Chicago’s debut of the first executive MBA program for experienced managers in 1943. More than 70 years later, that purpose remains the same today at all executive MBA programs.
Consistent with that mission, EMBA programs require a lot more work experience than other MBA programs. Although most EMBA programs require at least four years of experience, many programs report an average seven years of experience, with many students having ten to fifteen years.
The Executive MBA Council reported in 2011 that most EMBA students averaged 13 years of relevant professional experience. At some schools like the University of Chicago, the average may run as high as 15 years. In comparison, Harvard Business School reports an average post-college experience of its students of 51 months—about four years—and some schools do not have a minimum.
An Advanced Curriculum and Expert Faculty
According to the Executive MBA Council and the Financial Times, EMBA programs are accelerated programs with fewer class hours that allow business leaders to receive their MBA in two years or less while they continue working full-time. Most EMBA programs last 18 to 30 months, which is significantly less than the three to five years common in other part-time MBA programs.
The presentation of topics in the EMBA curriculum is the most advanced, high-level presentation found among any type of MBA degree program, whether full-time or part-time. Business schools usually replace introductory topics in core courses at this level with those more appropriate for top management.
“Students need to understand the basic core and framework well, not to the extent of a specialist, but to the point where you can understand and respond to others who are presenting information to you for decisions,” explained Beatrix Dart, the associate dean for executive degree programs at the University of Toronto’s Rotman School of Management.
“You need to be able to assess what is being presented to you as the decision-maker. I think that is what employers are trying to find—not only knowledge of the fundamentals, but also knowledge about how to use the fundamentals and improved judgment in decision-making.”
In contrast with flexible full-time MBA programs like Stanford’s that permit students to choose from a selection of courses, most EMBA programs afford students little choice. Despite some notable exceptions, most EMBA programs do not offer specializations, concentrations, or electives. Nevertheless, at some schools, cohorts vote on elective class selections upon completion of core courses.
Regarding those who teach the curriculum, EMBA faculty tend to consist of a business school’s most capable and experienced professors across a range of disciplines. Also, because EMBA programs admit students with so much experience, classmates can provide their peers with rich teaching and learning experiences. In those cases, professors act as expert discussion moderators.
Excellent Networking Opportunities
Students complete classes in lockstep with the same group of students, known as a cohort, which can become a valuable lifelong network because many of the students are likely future CEOs. Unlike full-time MBA students, the students in executive MBA programs may not enjoy as much time available for networking with classmates or have access to as many potential contacts.
However, executive MBA students may experience the best networking opportunities of any program type because their classmates are already top management candidates with extensive leadership experience, and they possess more capabilities and influence as potential business partners and investors than those in other programs. According to another Duke University MBA, Favio Osorio:
“Most students have had more time to accumulate capital. If you are an entrepreneur and wish to start a business during your MBA, you are going to be surrounded by people who have more capital available and might be ready to dispose of it intelligently. At Duke, my experience has been that we are not only looking at each other as Weekend Executive MBA (WEMBA) classmates or friends; we are looking at each other as potential business partners.”
Consistent with their accelerated pace, EMBA programs often employ various forms of condensed scheduling. Here are some examples:
- All-day classes once a week
- Weekend intensives all day Thursday, Friday and Saturday every other week
- Three full days of classes over a long weekend every three weeks
- One week of courses each month
Although condensed scheduling is a feature that one might also find in some part-time weekend MBA programs, this scheduling exists in all executive programs for several reasons. First, condensed scheduling means students never face exhaustion from working all day and attending typical part-time MBA night classes on top of family commitments, which is a tremendous advantage for seasoned executives whose jobs may already require well beyond 40 hours each week.
Condensed scheduling also enables “fly-in” trip commuting, since students often travel to attend classes from out-of-state while maintaining their current employment and career advancement possibilities. Fly-in commuting also allows students access to better MBA programs.
A Global Emphasis and Degree-Related Travel
The Financial Times business education editor Della Bradshaw suggests that in recent years the trend has been to develop EMBA programs taught in different nations, often through alliances between business schools. Some executive MBA programs require extensive travel combined with substantial time spent with classmates in person.
The Global Executive MBA at Duke University provides a fascinating example. The school’s program intersperses web-enabled assignments with week-long in-person sessions that rotate through Duke’s North Carolina campus along with international financial capitals like Shanghai, Santiago, New Delhi, and Berlin.
A More Personal Touch
Unlike full-or part-time MBA programs, EMBA programs typically offer their students with personal support and attention. One way they do this is through ongoing one-on-one career coaching offered by business school staff and alumni. Other methods of providing personal support involve a variety of concierge services they provide to save time for their busy executive students. Most EMBA programs also provide travel and lodging arrangements, textbooks and computer resources, and catered meals during classes—the hallmark characteristic of executive MBA programs.
Less Competitive Applicant Pool
Perhaps the most compelling reason to apply to an executive MBA program is that these part-time programs have less competitive applicant pools than full-time programs. And it is so compelling that, to explain this reason in detail, below we present an edited excerpt from our guide Is a Part-Time MBA Program Worth It?
Why is this significant? Less competition means that an applicant stands a better chance of admission. That means that one may be able to win entry to more reputable schools offering more influential alumni networks and affiliation with more powerful university brands by applying to a school’s executive rather than full-time division.
According to admissions consultant Natalie Grinblatt Epstein, a former MBA admissions dean, and director at Cornell and the University of Michigan:
Aggregated, the part-time applicant pool is not as competitive or as diverse in terms of admissions as schools typically receive fewer applications, and they are limited to their immediate region and the industries that dominate that industry… As much as schools say the quality of the full-time students and the part-time students are the same, the quality is dependent on location and how that location generates applications. Bigger cities have an easier time of attracting great applicants to their part-time program and can maintain higher quality standards, but full-time programs generate applications from around the globe, and it’s much easier to pick and choose candidates for admission.
Dramatic differences in applicant competition exist between a schools’ full-time and part-time or executive divisions. For those who might benefit from admission to a part-time or executive program at a better school, this article from a recent analysis by Poets & Quants’ Jeff Schmitt deserves a close reading.
According to the author, the acceptance rate at the Ross School of Business at the University of Michigan is nearly 50 points higher for the part-time MBA compared to the full-time program. Similarly, students applying to the Haas School of Business at the University of California Berkeley have a nearly four times better chance of gaining acceptance to the part-time program than the full-time program. Other schools, like Georgetown University’s McDonough School of Business, Washington University’s Olin School, and University of California’s Marshall, all have an acceptance rate of 75 percent or above for their part-time programs.
Nowhere do the competitive differences between full-time and part-time or executive programs display so prominently as in GMAT scores. Consider the top 50 MBA programs as ranked by U.S. News and World Report. Schmitt points out that with a 706 average score, full-time MBAs scored 83 points higher than the 623 average scored by the part-time cohort. The margin was about the same between the full-time and executive programs, but at two universities—Emory and Vanderbilt—the difference was over 100 points.
However, applicants should keep in mind that many top executive MBA programs have either opted out of requiring the GMAT or—like many online MBA programs—will waive the requirement in exchange for sufficient work experience. For more about GMAT and GRE waivers, see the BSchools guide: What is a GMAT Waiver and How Does it Influence the MBA Application Process?
The Drawbacks of Executive MBA Programs
Despite the advantages listed above, disadvantages do exist. Probably the most significant disadvantage involves costs because an executive MBA is one of the most expensive degrees. Traditionally, employers have entirely underwritten the costs of executive MBA programs, but that situation has changed in recent years.
Research compiled in 2016 by the Executive MBA Council reports only 23 percent of EMBAs get full sponsorship and 36 percent receive partial tuition reimbursement. Exceptions exist, such as Northwestern University, where employers either fully- or partially-sponsor 66 percent of the latest EMBA class.
What’s more, an employer must agree to a student’s time away from work to attend classes, which is not always available to all students. Furthermore, programs like Duke University’s may require time and resources devoted to extensive travel, often international, and students may need assistance with family obligations because of frequent long weekends away from home.
The EMBA: Concluding Thoughts
In short, part-time programs, including executive MBA programs, go beyond making a business school education accessible to those otherwise unable to afford the financial sacrifices, time commitments, and family lifestyle disruptions required by a full-time counterpart. Many part-time and executive programs offer better educational quality, more influential alumni networks, and affiliation with powerful university brands.