A Regular MBA and an Executive MBA have a lot in common however they have several differences too. Each program comes with advantages and disadvantages therefore instead of comparing the values of each program an individual should look at which is best suited for their current position.
The financial needs, lifestyle, delivery of teachings, admission requirements, pace, and intensity of classes are different for each program. After looking through all these factors an individual can find out, which is better, an executive MBA or a regular MBA?
Both programs are MBAs and cover the same materials however the question of which is better, an executive MBA or a regular MBA still arises. If you are wondering about the different financial aspects and the lifestyle followed by these two programs, this is the right place. This article discusses the main differences between these two MBA programs and how the choice depends on the individual’s circumstances.
Table of Contents
What is an MBA?
The Master of Business Administration is a degree that has been introduced in the 20th century. It is considered a professional degree. This degree covers areas such as
- Human Resources
- Business Communication
- Business Laws
- Business Ethics
- Business Strategy
There are MBA programs that focus on particular areas:
- Master of Economics
- Master of Finance
- Master of Accountancy
- Master of Science in Marketing
- Master of Science in Management
Why should you do an MBA?
MBA is a great choice for further studies or learning how to manage a business as a beginner. MBAs can be challenging in every aspect of a business career however it is not as difficult to graduate. Once you graduate you will have higher qualifications and therefore more demand.
Here are some reasons why one should complete an MBA program:
Helps you develop skills that are required for operating a company or starting one.
An MBA program will teach how to:
- Improve leadership skill
- Improve management skills
- Profit from your products and services
- Overcome crisis in business
- Keeping the company financially stable
- Have a positive image on consumers and consumers to be
- Managing data
- Managing employees and improving their skills
- Make difficult decisions
Networking experience is very valuable for one’s business career. An MBA program provides the opportunity to meet different people with similar interests, which gives one a wider outlook.
Without a doubt, MBA boosts up your career to the next level. According to research MBAs can increase your salary by almost 50%. MBA graduates have one of the highest-paying jobs.
Starting from a scratch
Starting a business on your own can be quite overwhelming. If you have the right plan and preparation you will be more confident which will also be a contribution to your companies success. The skills taught in an MBA course would help you understand the basics of the business, which is important when you are starting your own company from a scratch.
You can study part-time or online
There are different kinds of MBA programs, individuals can choose the most suitable one for them
- Part-time MBA – 3 to 4 years
- Full – time MBA – 2 years
- Executive MBA – 2 years
Older people are welcome
MBA programs accept older students. Universities do have an acceptable age range for MBA programs. A lot of the students are 40 years and above.
What is a Regular MBA?
A regular MBA program is usually two – years long. There is an option where the student can choose to complete the two-year program in 3 or 4 years. Students will be going through the same materials but with a freer schedule. This part-time MBA is particularly for students who are working part-time during their MBA.
Choosing to do a full–time MBA program will keep students quite busy and will make it difficult to work. Students may lose focus on their studies as well as experience fatigue if they work.
A student does not require many work experiences to apply for a regular MBA degree. Students’ acceptance of the program will depend more on the admission test.
What is an Executive MBA?
An EMBA stands for an Executive Master of Business Administration. It is also a two – year program. It is mainly for Business Executives that have five or more years of professional experience in the related fields.
As this program requires years of experience the students in an Executive MBA program consist of an older age group. Unlike a regular MBA, you can continue your full – time job as you take EMBA classes. Classes in an Executive MBA program usually take place on weekends or Fridays.
The teachings and the same syllabus is covered. Classes are usually longer hours so the schedule can be compressed to a shorter number of days. Executive MBA programs are designed to focus less on the basics of business and more on the details.
The program tries to maintain the same classmates to improve networking. It is meant to improve a current leader while MBA prepares the younger students to enter a business career.
Main differences between Regular and Executive MBA
Even though MBA and Executive MBAs are offered all around the world many people seem to be unaware of their differences. These two programs have quite several differences and are meant for different people. The materials may be the same however the way of teaching is completely different which leads to other differences including application requirements, duration, and pace, lifestyle
1. Application Requirements
Just like any university program, both programs require recommendation letters. International students will need to do a TOEFL test as subjects are taught in English.
Regular MBA programs put much emphasis on the GMAT score (Graduate Management Admission Test ). The student needs to obtain a minimum score of 600. Prestigious Universities do not accept students who score below 700 in GMAT. Having more experience in the work field is an obvious advantage however only 3 years of work experience is required to enrol for a regular MBA course.
Required 5 or more years of professional working experience
As mentioned earlier, Executive MBA programs focus less on the business basics. If you have professional working experience in related fields, like management, you will not need to cover the basics with your professor. Applicants usually have strong business knowledge due to their experience therefore do not require to sit for any entrance exams. It may vary from university to university.
2. Duration and pace
Normally MBAs around the world are two-year courses. Some universities may offer a one-year MBA as well. Students who are in full–time MBA programs will have a tight schedule and no time for a part-time job. However, there are part-time MBAs where the schedule is stretched out to a three to a four-year course. This will enable students to work part-time and study.
Executive MBA follows the same duration as a full-time MBA program. Although the lengths of the programs are the same their weekly schedules differ. Executive MBAs are a part-time study course therefore allows students to work full – time. As most of the students are working the lessons are carried out on evenings or weekends. Most classes are held online however the classes are long and intense. This way the professors can cover the material within a short number of classes and avoid any distractions in the students’ current jobs.
3. Electives and Topics
MBA students have a lot more options to choose their electives compared to Executive MBA students. Universities offer a range of topics for MBA courses where Executive MBA programs offer a few. However, some universities offer Executive MBAs that specialize in certain fields.
The fees are for a Regular MBA is slightly lower compared to an Executive MBA program. Besides tuition fees, there are other expenses like accommodation. Several Universities offer scholarships depending on their scores, experience, etc.
In a lot of cases, employers are willing to cover the employees Executive MBA tuition fees. When employers are interested in the employee’s skills and believe they can improve to benefit the company, they cover the tuition fees. The student must agree to the company’s terms and conditions like staying committed to the company for a particular number of years. However, it is rare to be funded by employers nowadays hence the scholarships offered have increased.
Since Executive MBA students are working full – time the fees are not as much of a concern as it is for regular MBA students.
Regular MBAs will give you a student life experience like
- Living on campus
- Working with classmates regularly
- Participating in extra curriculum activities like clubs and events
- Social experiences
You should choose a regular MBA if you are expecting such experiences.
EMBA is more for networking in a small group. Networking means sharing ideas with people in the same profession.
You will encounter experiences like :
- Less interaction with classmates
- Meeting every week
- Formal and Informal Networking
Networking is a very good experience that will be useful in your career.
Which is better, an Executive MBA, or a regular MBA?
This answer can vary from situation to situation. However, if you are confident about your basics an Executive MBA program will be beneficial for you. If you are lacking experience and basics of business you should consider a regular MBA.
The materials covered will be the same for each course but how the information is delivered will be different.
If the individual:
- Has enough amount of professional experience
- Believes that their basics of business are solid
- Has a full-time job
- Can free up their weekends and evenings for classes
- Does not expect much of a social experience
- Wants to focus on networking
- Can keep up with long and intense classes
The individual is most likely suited for an Executive MBA.
If the individual:
- Has little experience
- Wants to polish their basics of business
- Can cover the costs without a job
- Can keep up with the tight schedule
- Wants to enjoy student life and participate in school events
- Expects to have a friend group
The individual is more likely suited for a regular MBA.
If the student is not able to afford the tuition fees without a job but still desires all the points mentioned above they can do a part-time MBA. However, it will take an extra year or two.
In the end, both programs are expected to increase your salary, both programs will allow you to develop many skills, both programs will cover the same materials. You should see which is more suitable for you, an Executive MBA, or a regular MBA.