Executive MBA benefits: There are many professionals who work for over a couple of years and then feel the need to ask the question “what next?” That indeed is an important questions, especially, for professionals who want to explore more challenging roles in their careers. Pursuing an executive MBA or EMBA is one of the best options in this scenario. Also, if you are a professional who has worked for at least three years, an executive MBA is a good choice as it allows professionals to learn how to implement things at their level rather then learning the theoretical aspects of areas like Finance, marketing, operations etc. However, many professionals remain unsure about the extent of the benefit of an executive MBA. To help them makes an informed decision, we bring the 10 best executive MBA benefits.
What is an executive MBA?
Executive MBA or EMBA is a programme specifically designed for mid level and senior level professionals who want to enhance their leadership skills as well as expand their opportunities in the corporate hierarchy. These programmes are offered both in full time and part time mode and generally covered over a period of one year to 18 months. Most of the classes provided in executive MBA programmes are conducted through workshops and seminars. Students are also given training to work at an international level. EMBA classrooms are the best place for executives who want to expand their network by connecting with people both within and outside their industry.
Most of the Indian Institutes of Management(IIMs) offer EMBA. Entry to these programmes are generally done through managements entrance tests like GMAT, CAT, XAT etc. Students might also have to appear for written tests conducted by the institutes themselves. Further, in all the programmes, applicants have to appear for personal interview round. The candidates academic and professional background are important factors that are considered during the application process.
10 Executive MBA benefits: At a glance
- Gives a push to your career
- Enhance your leadership skills
- Hike in salary
- Flexible study modules
- Advanced classes through foreign collaboration
- Better knowledge of the industry
- Full time and part time
10 Benefits of Executive MBA:
- Gives a push to your career: One of the major reasons why professionals pursue EMBA is because it helps in giving a huge push to their career. Executives, who are trying to explore opportunities for growth can do so at a faster pace by getting trained through an executive MBA programme.
- Enhance your leadership skills: Now many of the executives might have had experiences as team leaders. However, most of them have learnt it on the job. While leadership qualities are there among many professionals, what they lack is the art of honing those skills to maximise output from themselves as well as other leaders. One of the important executive MBA benefits is that it helps future managers to be ready for their leadership positions.
- Network: This is one of the major reasons why a lot of professionals pursue MBA. Networking is a very important aspect of studying EMBA. In fact, many mid-level and senior level professionals pursue executive MBA for the sole purpose of connecting with other professionals within and outside their industries. This also helps them to explore future job opportunities. Since the completion of an Executive MBA programme also enables one to be part of alumani association, it brings an added advantage for widening professional network.
- Hike in salary: Return on investment is a very important factor when professionals join executive mba programmes. Although it is not the case in every programme, an executive MBA does ensure a rise in the annual compensation of a professional. Whether, the opportunities are within or outside their organisations, many professionals are known to demand and receive higher pay packages after completing EMBA programmes.
- Flexible study modules: Most executive MBA programmes have flexible study schedules to accommodate working professionals. Usually, the classes are conducted on weekends or students are asked to visit the campuses for a particular period of their study. Some programmes also run through online media and workshops. The programmes are also of less duration, usually, ranging from 12-18 months. Even those programmes which are fully residential ensure that students have the bandwidth to deliver their professional obligations.
- Advanced classes through foreign collaboration: One of the Executive MBA benefits is that many of the programmes offered under the EMBA banner have a foreign study trip included. If not, then the programme might be provided in collaboration with a foreign business school. This helps students gain a global perspective of the market and the sector they work.
- Better knowledge of the industry: The Executive MBA courses are also offered for several specialisations. Thus, professionals who have worked in an industry for sometime can enhance their knowledge in the industry to pursue more opportunities there. Also, employees who want to switch to other sectors can explore the same by taking up that specialisation.
- Sponsorship: Unlike a general MBA, many executive MBA programmes are fully or partially sponsored by the organisations where the professionals work. This is done in part to train the employees for future managerial challenges in the company. Also, many organisations train their employees through EMBA programmes rather than internal company workshops. This helps students to concentrate on benefiting from the programme rather that worry about the financial aspect of it. Also, they have a job waiting for them after the programme as employees are expected to join back the organisation after their stint at the business school.
- Full time and part time: Professionals have the option of selecting between a full time MBA and a part time one. Good news is that unlike in general MBA, students who pursue part time programmes also have access to flexible class schedules.
- Placements: Executives MBA programmes have the added advantage of having access to advanced placement cells. Unlike at trainee levels, students exposed to higher level positions at the time of placements. Also, companies are expected to offer positions which are a raise above the professional’s earlier positions, before pursuing the executive MBA.