Difference between MBA and Executive MBA
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Individuals who are in top managerial or leadership roles have one thing in common – an MBA or Masters of Business Administration degree. Although a personal choice, this postgraduate qualification is especially meant for those who wish their career elevates to a better level, enhancing their hold on higher positions and professional objectives. The value of one’s candidature rises after obtaining advanced knowledge and skills imparted by the MBA curriculum. The degree can be obtained by anyone who wants to blend their specific expertise with business insights so as to take their learning to the next stage. Now an executive MBA or EMBA degree slightly differs from an MBA as the former is specifically designed for those who have already earned some years of experience and are in mid to senior-level positions.
One can pursue either of the two degrees depending on one’s requirements, professional growth, and long-term goals. What is assured is that both MBA and EMBA offer a transformative experience, assisting one to gain self-confidence and a wide-managerial perspective. The article will help you learn the difference between an MBA and an Executive MBA and which of the two degrees is beneficial for you. It also accommodates the lists of the world’s top 10 universities which are renowned for their MBA and EMBA degrees. Learn What is the value of a foreign MBA in India here.
What is an MBA Degree?
One of the most sought-after management degrees, one can get enrolled on an MBA programme irrespective of his/her career level, provided an undergraduate degree has been obtained. You may be a fresh graduate or a professional with a few years of corporate experience, an MBA degree can not only help you strengthen your resume but may also increase your prospects for lucrative salaries. The best part is that work experience is not a prerequisite for this degree, therefore eliminating the need to work alongside completing your experience. You would be a part of a diverse class with students holding different experience levels.
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Duration: Usually, the duration of a full-time MBA degree is two years, or upto 2 years, whereas a part-time MBA spans 3 to 5 years.
Curriculum: A plethora of business-centric disciplines are offered to students, with special emphasis on management principles and business concepts. You can opt for any concentration or elective of your interest.
What is an Executive MBA Degree?
An executive MBA degree or EMBA is not for fresh graduates but for those who have earned considerable work experience and are in mid or senior-level roles. These professionals are well-established in their jobs and are aiming to acquire a deeper level of strategic management expertise while continuing their work. Contrary to an MBA, those applying for EMBA need to possess atleast 5-10 years or more of proven managerial work experience.
Duration: The majority of the executive MBA courses are carried out part-time and take two years to complete. Students are therefore required to attend the classes in the evenings or on weekends.
Curriculum: It is a comprehensive course in which students gain an understanding of general management principles, advanced leadership building, and strategic thinking. The core curriculum includes accounting, strategy, entrepreneurship, Business Economics, etc. You will learn to tackle problems which one comes across in leadership roles.
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| Elements | MBA | Executive MBA/EMBA |
|---|---|---|
| Cost | Covered by the student usually | Generally the cost of tuition is covered by the employee or student's company |
| Programme Duration | Full-Time: 1 to 2 years Part-Time: 3 to 4 years |
1.5 to 2 years |
| Classes | Full-Time or Part-Time Classes | Evenings or Weekends |
| Tests Required | GRE or GMAT | GRE/GMAT/Executive Assessment |
| Professional Experience | 0 to 5 years (Optional) | 10-15 years average (Mandatory) |
| Average Age | 28 years | 38 years |
Check: Know how GMAT exam is much more than an MBA entrance test
Top Universities in the World for MBA
Pursuing an MBA from one of the world's best universities is a dream come true for many. The table below lists the world's top 10 institutions which have earned a global reputation for their MBA programmes according to QS Global MBA Rankings, 2023. We have mentioned the tuition fee and the type of tests which make you eligible for an MBA over there.
| University | Tuition Fee | Tests Required |
|---|---|---|
| Stanford Graduate School of Business, USA | $79,860 per year | GMAT/GRE TOEFL iBT: 100 or IELTS Academic: 7.0 overall or PTE Academic: 68 overall |
| Harvard Business School, USA | $74,910 per year (9-month cost) | GMAT/GRE TOEFL iBT: minimum 109 or IELTS: minimum 7.5 or PTE: minimum 75 or Duolingo: minimum 145 |
| The Wharton School, University of Pennsylvania, USA | $87,370 per year | GMAT/GRE TOEFL iBT or IELTS or PTE (No minimum score set) |
| HEC Paris, France | $96,552 per year | GMAT/GRE TOEFL iBT: minimum 100 or TOEFL paper-based: minimum 600 or TOEIC: minimum 340 speaking & writing and 850 listening & reading or IELTS: minimum 7.0 overall or Cambridge English Exams: minimum 185 overall or PTE: minimum 72 or Duolingo: minimum 135 |
| London Business School, UK | $1,40,997 full fee | GMAT/GRE TOEFL iBT or IELTS or Cambridge CPE, CAE or PTE Academic (No minimum score set) |
| MIT Sloan School of Management, USA | $84,200 per year | GMAT/GRE Only Interview for English Proficiency |
| IE Business School, Spain | $91,261 per year | GMAT/GRE TOEFL: minimum 95 or IELTS: minimum 7 or Duolingo: minimum 130 or Cambridge Advanced or Proficiency level |
| Columbia Business School, USA | $84,496 per year | GMAT/GRE/Executive Assessment GMAT/GRE verbal score sufficient for English language proficiency |
| INSEAD, France | $1,09,201 full fee | GMAT/GRE TOEFL iBT: 105 & above/TOEFL CBT: 260 & above/TOEFL PBT: 620 or IELTS Academic: 7.5 & above or PTE Academic: 72 & above |
| IESE Business School, Spain | $1,16,370 full fee | GMAT/GRE TOEFL: 105 or IELTS: 7.5 or PTE Academic: 68 C1 or Cambridge English Proficiency Certificates (minimum level B) |
Top Universities in the World for Executive MBA
Read about the top 10 universities in the world for Executive MBA degrees according to the QS Executive MBA Rankings, 2023.
| University | Tuition Fee | Tests Required |
|---|---|---|
| HEC Paris, France | $1,09,709 full fee | GMAT/GRE/Executive Assessment/in-house HEC Management Test TOEIC: minimum 850/990 or TOEFL: minimum 90/120 or IELTS: minimum 6,5/9 or Duolingo English Test: minimum 135/160 |
| IESE Business School, Spain | $83,878 full fee | GMAT/GRE/Executive Assessment/in-house IESE Admissions Test PTE Academic: 68 (C1) or TOEFL: 105 or IELTS: 7.5 or Cambridge English Proficiency Certificate |
| Oxford (SAID), UK | $1,36,562 full fee | GMAT/GMAC Executive Assessment Test TOEFL: minimum 110 overall or IELTS: minimum 7.5 overall or CPE: minimum 191 overall or CAE: minimum 191 overall |
| MIT (Sloan), USA | $197,000 full fee | GMAT (optional) TOEFL not required for fluent or native English speakers
|
| Penn (Wharton), USA | $223,500 full fee | GMAT/GRE/Executive Assessment TOEFL iBT or PTE or IELTS or |
| IE Business School, Spain | $88,632 | GMAT/GRE/IEGAT/Executive Assessment TOEFL or IELTS or Cambridge Advanced C1 |
| London Business School, UK | $1,53,788 full fee | GMAT/EA/GRE TOEFL or IELTS or PTE or Cambridge |
| INSEAD, France | $1,51,214 full fee | GMAT/EA/INSEAD Assessment TOEFL or PTE or IELTS |
| ESADE Business School, Spain | $74,776 full fee | EA/GMAT/GRE/Esade Admissions Test TOEFL: minimum 95 or TOEIC: minimum 850 or IELTS: minimum 6.5 or CAE (C) |
| Chicago (Booth), USA | $181,076 full fee | EA/GMAT/GRE TOEFL/IELTS (Optional) |
Please remember that opting for either of these degrees needs you to invest significant time, effort as well as money. It is therefore advised that before going ahead with your plans and applying for these courses, keep your future objectives in mind and recognise the impact of an MBA or EMBA degree on your career and long-term goals.
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