This article will address the difficult considerations involved in deciding whether to pursue an Executive MBA and reveal the benefits of working with an admissions consultant. Before hiring an EMBA admissions consultant, prospective applicants need to ask themselves several questions.
Top EMBA programs select candidates based on their career level, standardized test scores, and educational background, among other factors.
Your profile is an important consideration when applying to EMBA programs, especially programs at renowned business schools like Wharton, Yale SOM, or Kellogg. Many applicants have already attained senior positions and hold advanced degrees. Thus, if you only have an undergraduate degree and are not a manager, director, vice president, or C-level executive, you might need to wait a few years before applying.
Test scores allow admissions officers to fairly assess candidates. Most EMBA applicants take the GMAT or the Executive Assessment (EA). Applicants to EMBA programs typically have GMAT scores ranging from 600 to 740. 700 is considered a good score for many programs, but for top programs, competitive GMAT scores are often above 720. For applicants who choose to take the EA, average scores for top programs are typically around or above 150.
Most EMBA programs require applicants to have more than eight years of professional work experience. However, admitted students have an average of 10–15 years of experience, depending on the program. Before reaching out to an EMBA admissions consultant, you should research the average amount of work experience applicants at your target programs have and ensure that you match or exceed the low end of their requirements.
| EMBA Programs | MBA Programs | |
|---|---|---|
| Professional Experience | Targeted toward experienced professionals: EMBA programs are designed for mid-career professionals with several years of work experience, looking to progress in their careers or start their own business. | Designed for early- to midcareer professionals: Full-time MBA programs are often geared toward those who are earlier in their careers or looking to make a career switch. |
| Format | Part-time format: EMBA programs typically have a part-time format, allowing students to continue working while pursuing their degree. | Full-time format: Full-time MBA programs usually require students to take a break from work and devote their time to the program. |
| Projected Outcomees | Focus on practical applications: EMBA programs typically focus on practical applications of business concepts and leadership skills to students’ current roles. | Emphasis on career development: Full-time MBA programs often offer career development services, including internships and job placement assistance. |
Earning an EMBA degree is a major financial commitment. Without an encouraging employer, it can be difficult to pursue an EMBA due to the professional and financial repercussions. Although the return on investment is often high for EMBA graduates due to the skills and network they acquire, employer sponsorship, or at least approval, is still important because most EMBA programs require students to be currently employed for the duration of the program. Most Executive MBA programs also require written confirmation of company support—this means that your company acknowledges that they are aware that you are in the program and supportive of time commitment.
When thinking about how to finance your EMBA, you should first find out whether your organization offers any financial support for EMBA students. Companies may assist in different ways—by giving you time off work to attend classes, encouraging you to apply your newfound knowledge in your current position, or paying all or part of your tuition.
Before approaching your boss to ask for employer sponsorship, you should create a business case that demonstrates how earning an Executive MBA degree will help you add value to the company. This would include considerations of how your education could increase business revenue or help you lead more effectively.
Since you will continue working while earning your EMBA, an excellent selling point could be that you will implement what you are learning in the program immediately in the workplace. Employers may be especially interested in sponsoring your graduate business degree if you plan to attend a renowned school, since that would reflect positively on the company.
The cost of an Executive MBA varies widely depending on the business school. However, all programs have one thing in common: they are not cheap.
How Much Do Executive MBA Programs Cost?
| Best Executive MBA Programs | 2024 Tuition Costs | 2023 Tuition Costs |
|---|---|---|
| Berkeley Haas EMBA | $212,000 | $199,900 |
| Columbia Business School EMBA | $239,880 | $239,880 |
| Cornell Johnson EMBA | EMBA Americas: $186,510 EMBA Metro NY: $219,688 EMBA Healthcare Leadership: $214,620 | EMBA Americas: $174,636 EMBA Metro NY: $219,688 EMBA Healthcare Leadership: $185,720 |
| Duke Fuqua EMBA | Global Executive MBA: $174,700 Weekend Executive MBA: $170,700 | Global Executive MBA: $159,700 Weekend Executive MBA: $156,250 |
| Georgetown McDonough EMBA | $158,382 | $153,414 |
| Michigan Ross EMBA | Michigan Residents: $186,000 Michigan Non-Residents: $191,000 | Michigan Residents: $168,500 Michigan Non-Residents: $168,500 |
| MIT Sloan EMBA | $208,300 | $197,000 |
| Northwestern Kellogg EMBA | $236,958 | $226,638 |
| NYU Stern EMBA | EMBA NY Students: $226,100 EMBA DC Students: $191,000 | EMBA NY Students: $213,100 EMBA DC Students: $181,100 |
| UNC Kenan-Flagler EMBA | Evening Executive MBA: $99,000 Weekend Executive MBA: $125,589 Charlotte Executive MBA: $125,589 | Evening Executive MBA: $99,000 Weekend Executive MBA: $125,589 Charlotte Executive MBA: $125,589 |
| Wharton EMBA | $230,100 | $223,500 |
| Yale SOM EMBA | $216,840 | $208,500 |
Before you can decide whether an EMBA is right for you, you need to consider how the pressure of pursuing an Executive MBA—in addition to your already busy job—will affect your family and relationships. Hiring an EMBA admissions consultant can ease some of this pressure, but prospective EMBA students should be aware of the potential personal toll involved in an Executive MBA program at a top business school.
EMBA programs typically last about 24 months, with most programs including an in-person orientation and international trip. Furthermore, since these programs cater to working professionals, lectures take place on weekends or evenings. EMBA students are expected to dedicate 30–40 hours per week to their studies on top of their full-time job.
Applying to business school can be a daunting process for working professionals—particularly when juggling the complexities of the application, a demanding job, and your personal life.
Business school websites typically have some sort of application checklist to refer to when working on your application. Although different EMBA programs may require applicants to submit different materials, these are the most common requirements:
Additionally, applicants whose native language is not English or who don’t have a degree from an institution where English was the language of instruction are required to take the TOEFL, PTE, or IELTS.
Most respected EMBA programs are likely to boost your career and provide you with an enviable network and education. Specifically, an EMBA can help you make career transitions or rise in your company.
An EMBA from a prestigious business school will do more for your career than a degree from a less distinguished school. Additionally, top programs will give you more credibility, increasing the likelihood of progressing in your industry. Thus, you should consider what programs you’re likely to get into when making decisions about the worth of an Executive MBA program for you.
Potential EMBA students need to make sure that they will be able to balance their career, personal/family life, and education. EMBA students are required to continue working full-time throughout the program and, even though most programs hold lectures on the weekends, students will still need to complete asynchronous work during their work week.
Additionally, you should ask yourself when your degree will become profitable. The high cost of most EMBA programs means it’s important to weigh up the probability of earning a higher salary postgraduation. In other words, earning an EMBA is not an economically viable decision for every experienced professional. For example, if there’s little room for growth in your company and you do not plan on a future career change, an EMBA will have a low rate of future career returns. Find out the available advancement opportunities within the company you work for before beginning your EMBA application journey.
If your answers to these questions are still pointing you toward an Executive MBA, or if you are struggling to answer them, your next step should be to reach out to an EMBA admissions consultant. Hiring a consultant can help you objectively analyze your answers, guiding you to make the right decision for your current life circumstances and supporting you throughout the entire application process.
Apply for a free consultation call with our expert EMBA admissions consultants!
