Online Executive MBA

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Online EMBA programs can be hard to choose from, with hundreds of business schools across the United States offering them. Although Executive MBA rankings by certain organizations can help shortlist a few good programs, confusion can still prevail. The best online Executive MBA programs are created considering criteria such as the college’s infrastructure, the quality and experience of teaching staff, student support services, accreditation, the structure of the program, courses offered, and cost-effectiveness. OnlineMastersColleges (OMC) has drawn up a list of the best Executive MBA programs, based on these criteria, and more:

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Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

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The best value Executive MBA program should strike a balance between affordability and overall quality. While students look for affordable programs, they should not place cost over other important factors. After all, programs that are cheap or economical do not necessarily pass key benchmarks. Here are some of the most affordable online Executive MBA programs that do not compromise on quality, delivery, and instruction but are super value-propositions:

Link to this Page

Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

While the traditional MBA program is built on the fundamentals of business, the Executive MBA, on the other hand, provides students of the program with a better understanding of the many nuances of business. This program focuses on tools, technologies, methodologies, research, and data, to help graduates make informed and strategic business decisions, improving profitability. This can be achieved by leveraging and building on the work experience Executive MBA students would already have at the start of their program (Executive MBA students are expected to have considerable prior work experience).

With fewer electives to choose from, the Executive MBA differs slightly from the traditional MBA, which offers many electives and combinations of coursework. An Executive MBA also makes it possible for students to align their personal, educational, and professional experience with their career objectives and goals. The program’s main aim is to develop student’s analytical, critical, and problem-solving skills and prepare them for changes, disruptions, competition, challenges, and issues in the business world. With this degree, experienced professionals can take on greater responsibility, improve their career prospects, take on new leadership roles, or earn higher salaries.

Executive MBA Degree Formats

The format of online Executive MBA programs differs according to college and the type of program. Business schools put together EMBA programs that aim to suit working professionals who may already be pressed for time, have work-related stress, and families to attend to. Students can choose between full-time Executive MBA vs. part-time Execute MBA programs, which can take anywhere from 18 to 60 months to complete, depending on the format. And while some Universities deliver their courses entirely online, others take a hybrid route and require students to meet on-campus at least once or twice a week. A few also expect students to attend a two-week on-campus practicum towards the end of their program.

Another common format some colleges follow is the cohort-based Executive MBA program – in which all students begin the program at the same time, attend the same classes, and go through the entire program with the same group of people right up to graduation.

Weekly synchronous sessions with high-quality video and audio for optimal interaction, recorded sessions for subsequent viewing, delivery of courses entirely through online sessions, and weekly or periodic on-campus meetings are various formats of delivery of an Executive MBA.

Courses in the EMBA program are evenly distributed across semesters and sequenced to assure continuity in learning through synchronous, asynchronous, or hybrid delivery systems.

Executive MBA vs MBA

A lot of people get confused and battle the dilemma of Executive MBA vs. MBA. In general, a traditional MBA benefits younger, less-experienced students by allowing them to complete their studies over a longer period and seek jobs in the business world. Executive MBA programs are designed for professionals in their mid-career who need to complete their education in a shorter time and advance their careers. So, what are the other differences between MBA and Executive MBA? Here is a snapshot of both programs to compare:

Now, to address the question – EMBA vs. MBA, which is better? – it all depends on an individual’s personal and professional goals. Those who are yet to pitch themselves on an upward career trajectory and/or may have just a couple of years of work experience can consider the professional MBA program. On the other hand, those who have 5 to 10 years of experience and wish to enhance their knowledge, hone their skills, advance their careers, seek promotions with their organization, or look for better paychecks, are prime candidates for an Executive MBA. Another point to note is that an MBA teaches the fundamentals of several aspects of a business. At the same time, an EMBA builds on them by combining advanced coursework and the student’s professional experience.

In conclusion, one is not better than the other; they serve two different objectives.

Specializations in Executive MBA Programs

Business school students who pursue an MBA concentration usually pursue more specialized career paths after graduation. For some concentrations, salary and opportunities increase significantly, depending on the industry. Specializations also convey to and assure employers that the candidate has in-depth knowledge and unique skills related to the subject. Here are a few specializations/concentrations that online Executive MBA applicants can consider:

• Executive MBA Healthcare Online
• Executive MBA in Finance
• Executive MBA for Engineers
• Executive MBA in Accounting
• Executive MBA in Human Resources Online
• Information Systems Executive MBA
• Executive MBA in Marketing
• Executive MBA in International Business Online
• Executive MBA in Supply Chain Management
• Business Analytics Executive MBA
• Executive MBA in Innovation and Entrepreneurship Online
• Retail Industry Executive MBA
• Executive MBA in Innovation Management
• Executive MBA in Information Technology

Curriculum and Skills Gained in Online Executive MBA Programs

The EMBA syllabus is largely the same across concentrations and programs. The curricula of most programs overlap, and courses are often based on the basics of business and administration, such as marketing, finance, accounting, operations, human resources, etc. Some of the common courses students can expect in an online Executive MBA are:

• Administrative Control
• International Business Management
• Managerial Leadership and Productivity
• Professional Ethics and Practice in Business
• Strategy Formulation
• Organizational Design
• Business Foundations
• Exploring Regional Markets
• Entering New Markets
• Executing In Global Markets
• Corporate Global Strategy
• Financial Accounting & Analysis
• Leadership and Change Management
• Statistics for Business Decision Making
• Basic Accounting for Managerial and Financial Control
• Effective Negotiations
• Financial Management
• Management Communications
• Supply Chain Management
• Legal Environment of Business
• Managerial Accounting
• Managerial Economics
• Managerial Finance
• Business Analytics
• Finance and Economics
• Leadership and Teams
• Marketing Strategy and Planning
• Organizational Behavior
• Strategy and Innovation
• Business Economics for the World Market
• Managing Human Capital
• Data Analytics and Statistics for Business
• Digital Transformation with Information Systems and Technology
• Micro and Macro Economic Foundations for Managers
• Management Information Systems
• Integrative Analysis in Management
• Statistical Applications in Research and Management
• Accounting for Managerial Decisions
• Ethical and Societal Issues in Business
• Supply Chain Strategy and Practice
• Ethnographic Research Methods
• Globalization and the Arts
• Managing Communities of Work
• Operations Management
• Shared History of Slavery and Capitalism
• Analytical Tools for Strategic Decision-Making
• Career Planning and Development
• Strategic Marketing Analysis and Concepts
• Business Law and Negotiations
• Business Policy and Strategy
• Statistical Methods in Business and Economics

Working professionals with an Executive MBA will demonstrate the ability to manage and drive business functions at advanced or higher levels. Additionally, graduates of the program will:

• have a better understanding of the fundamentals of business policy, operations, finance, and administration;
• use data and integrate business information with business goals and strategies;
• understand organizational behavior and managerial responses to channel human resources effectively;
• solve problems and make decisions in a variety of business situations by understanding and applying critical and analytical thinking;
• effectively use managerial economics and financial management to strengthen margins and drive profitability;
• incorporate information systems for managerial decision-making as well as analytical tools and technology for organizational support;
• oversee business operations in a global environment, and can effectively manage supply chains;
• understand and factor ethical and social perspectives that could influence decision-making and business outcomes;
• effectively use marketing management in cross-functional and marketing-oriented businesses; and
• formulate policy and improve strategic development to help the organization meet its goals and objectives.

Many working professionals look for online Executive MBA No GMAT programs to avoid having to (again) prepare for the GMAT or the GRE. Most business schools require a standardized test score such as the GMAT or GRE to be submitted at the time of application, but this requirement depends on certain conditions in reality. For example, some schools waive the GMAT/GRE score if the applicant has at least 8 to 10 years of work experience. Others offer a waiver to students who already have another Master’s Degree, Professional Degree, or Professional License. Some examples of schools that offer waivers or do not require GMAT/GRE scores are the University of North Alabama School of Business, University of Nevada, Reno, Sullivan University Graduate School, and the Howard University School of Business. The Rochester Institute of Technology Saunders College of Business offers an EMBA program that does not require the GMAT/GRE, as does the Jacksonville University.

Unfortunately, for students looking for a one-year Executive MBA Online, there are no programs completed in a year. Perhaps the shortest duration for an online Executive MBA is 15 months, such as the Executive MBA in Energy offered at the Price College of Business, University of Oklahoma. The Marquette University and the Southeastern Louisiana University offer 17-month Executive MBA programs but require some on-campus meetings and online sessions.

Caution: Many websites and search results will mention colleges that have 1-year Executive MBA programs. A quick check will discover that these are misleading because the highlighted colleges offer 1-year traditional or accelerated MBA programs, not Executive MBA programs. Be careful to make this distinction.

Increasingly, many students are on the lookout for ‘Executive MBA No Bachelors Required’ programs. Some business schools accept candidates who tend to have strong real-time work experience behind them but are looking to complement that with business theory. For such candidates, the admission requirements are largely the same as those for applicants with an undergraduate degree, with the difference of special attention given to their writing ability and synthesis. The EMBA program by the MIT Sloan School of Management, for example, does not require a Bachelor’s Degree if the applicant can “demonstrate exceptional capabilities through other endeavors”. Similarly, the University of Chicago Booth School of Business, although it generally requires a Bachelor’ Degree, makes exceptions for applicants who display an impressive professional and/or personal track record. However, applicants without a Bachelor’s Degree must take the GMAT to be considered for admission in this case.

With MBA programs costing the proverbial arm and leg, free online Executive MBA programs are much sought after. Unfortunately, there aren’t any online portals and institutions that offer free MBA programs, except one – the University of the People. While the MBA program by this University provides students with the many advantages of a traditional (and paid) MBA program but without the cost, it may not be well recognized by the job market (accreditation could not be confirmed). A search online will bring up several free MBA courses, none of which will lead to credible EMBA degrees, but could nevertheless help interested MBA students and graduates. Some examples are:

1. EdX
   EdX has a collection of paid and free online executive education courses created by the Boston University, Wharton University of Pennsylvania, and Harvard University.
2. MOOCs
   Massive Open Online Courses (MOOCs) are a repository of free programs in various disciplines. In business education, MOOC offers MicroMasters Programs and Professional Certificates by leading Universities in the country.
3. Coursera
   Coursera lists a total of 93 MBA-related courses and specializations across four learner levels. Topics include International Business Essentials, Fundamentals of Finance, Value Creation Through Innovation, and others.

Free online MBA

1. University of the People
   Except for an application fee and an assessment fee for every end-of-course examination, the University of the People provides an online Master of Business Administration degree and does not charge students for their educational instruction, course materials, or annual enrollment. It is worth noting that this program is not an EMBA program but a traditional MBA and is perhaps the only such complete degree that is free and online.

The Executive MBA cost is considerably higher than that of other Master’s programs. In some cases, a program is known to cost an eye-watering $200,000 over two years! Generally, personal funds or income from a salary alone may be insufficient to pay for the Executive MBA fees, and this and the ever-rising cost of Master’s programs are why other funding mechanisms need to be explored, such as:

Scholarships

Scholarships are often given to students who have excelled academically. Sometimes families, small enterprises, non-profit, cultural, or religious organizations offer them to students who meet their specific eligibility criteria. However, in the context of an Executive MBA, few such organizations or even universities offer Scholarships. Large corporations commonly give them out to deserving professionals who have considerable experience, have contributed to the business, or have an impressive track record. In certain cases, Disability Scholarships, African American Scholarships, Scholarships for Women, and other such scholarships that cater to certain sections of society, also cover Executive MBA programs. (It is easy to fall prey to Scholarship Scams, so applicants for scholarships should exercise caution).

Grants

Grants are typically offered to low-income students to assist them in financing tuition fees and meet educational and student-related expenses such as housing, transportation, books, stationery, etc. Grants are nearly always provided exclusively based on financial necessity. However, Executive MBA aspirants may not qualify for grants unless they can prove that their income is not enough to support themselves (and their family) and pay for tuition.

Employer Sponsorship

Many employers allow their employees to work and study simultaneously, and some even sponsor their additional/advanced education under specific circumstances. Applicants to Executive MBA programs should check with their employers to see if they offer sponsorship.

Loans

Executive MBA aspirants may be eligible to apply for federal, bank, or private loans to pay for their tuition. Working professionals who take this funding route should find it easy to obtain a loan and repay it on time.

Payment Plans

Some colleges allow students to pay for their tuition over a longer period through equated or incremental payments instead of as a lump sum at the beginning of the term. This could prove to be beneficial for salaried individuals who pursue an Executive MBA.

FAFSA

FAFSA or Free Application for Federal Student Aid is a nifty tool to see if students are eligible for financial aid across a chosen set of universities. A complete guide to FAFSA is available here.

To know more about ways to fund an Executive MBA program, read the best Financial Guide.

Promotions, high-profile jobs, and fat paychecks are some of the many benefits of the Executive MBA program. There are many roles that graduates of an online Executive MBA can take up in several sectors, such as automobiles, food and beverage, information technology, biotechnology, aviation, commodity trading, insurance, social media, digital marketing, advertising, branding, and a whole lot more. Although job titles may vary by company and sector, here are some common ones EMBA graduates can step into:

• Chief Executive Offer
• Chief Financial Officer
• Chief Information Officer
• Financial Advisor
• Business Operations Manager
• Portfolio Manager
• Marketing Manager
• Business Analyst
• Marketing Analyst
• Management Consultant
• Director of Marketing
• Entrepreneur

At the start of a program, most incoming Executive MBA students may already be earning in six figures, but this can, in certain cases, potentially double after graduation.

The 2020 EMBAC Student Exit Survey, carried out by the Executive MBA Council (EMBAC), revealed that EMBA graduates received a 14.1% increase in compensation after program completion. The report also states that 39%of students who completed the survey received a promotion during the program, and 53% reported increased responsibilities. At the commencement of the EMBA program, the average salary and bonus package was $169,269, which rose to $193,200 by the end of it.

Elsewhere, the US Bureau of Labor Statistics reports that the median pay in 2020 for top executives was $107,680, that of chief executives was $185,950, and of general and operations managers was $103,650. It is worth noting that salaries, titles, roles, and responsibilities are disproportionate across business sectors, the scope and scale of organizations, and the institute’s reputation from which one has graduated.

Certifications acknowledge and endorse the level and depth of a graduate’s knowledge and skills, adding value to a Professional Résumé. Adding extra credentials can prove to be beneficial in certain work settings and improve career prospects in general. Although there aren’t any specific certifications tailored for online Executive MBA graduates, the ones applicable to traditional MBA graduates will do just as well. Some such certifications for EMBA graduates to consider include:

1. CFA (Chartered Financial Analyst)
2. CPA (Certified Public Accountant)
3. APICS CPIM (Certified in Production and Inventory Management), APICS CSCP (Certified Supply Chain Professional), and APICS CLTD (Certified in Logistics, Transportation, and Distribution)
4. AIRS Certifications
5. Six Sigma
6. SAP Modules Certifications

Executive MBA graduates usually do not require any licensure. But in certain circumstances, jobs in accounting, for example, the certification, leads to automatic licensure (such as the CFA and CPA).

In the business world, networking holds the key to endless possibilities. By connecting and collaborating with peers, EMBA graduates can consolidate business knowledge, expand their network, and broaden their perspective, stretching well beyond their current industry. Tapping into networks and resources can also enhance one’s skill set to reach the next level of success in one’s career. Here are some ideal ways for online Executive MBA students and graduates to get started:

1. MBA Depot
   MBA Depot is an excellent resource that offers business insight for MBAs and Managers. The site hosts books, case studies, articles, and videos and has a community for learners and professionals.
2. Association to Advance Collegiate Schools of Business (AACSB)
   The Association to Advance Collegiate Schools of Business (AACSB) is mainly an accrediting organization that connects educators, learners, and businesses to create the next generation of leaders. The organization also conducts events, conferences, webinars, and seminars and provides insights, data trends, and research reports in business and business education.
3. LinkedIn
   LinkedIn is to business, what Facebook is to people in general. LinkedIn is arguably the best place to connect with industry professionals, job-seekers, recruiters, and project partners. Members can manage their professional identity, engage with a growing network of peers, and easily access knowledge, insights, and opportunities.
4. Executive MBA Council (EMBAC)
   Like the AACSB, the Executive MBA Council (EMBAC) is also an accrediting organization, particularly for EMBA programs. The council periodically conducts market research and surveys, meetings, and webinars. With its presence in 35 countries and 300 members of EMBA programs, this site is a great way to stay up to date with the latest in the world of EMBA.
5. Association of MBAs (AMBA)
   The Association of MBAs (AMBA) is home to several resources for both students and graduates of EMBA. This site has much to offer, from a development network to a book club to commercial opportunities and insights.