Online Executive MBA degrees (Executive Master’s in Business Administration or EMBA) are common among mid-career professionals who want to continue working full-time while furthering their education. These programs geared toward industry leaders with several years of work experience help students develop the leadership skills they need to succeed in their careers. EMBA programs prime business executives and leaders to adapt to an ever-expanding, evolving, and innovative business world. Unlike the many concentrations in an MBA, such as finance, marketing, supply chain management, human resources, or project management, and Execute, MBA is more general in its approach and rather rigid in its maneuvering into distinct areas. Read on to know all about the Executive MBA – what it entails, the curriculum and coursework, specializations, certifications, timelines, admission requirements, and of course – the best and most affordable colleges to pursue this program.
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:
<a href="https://www.onlinemasterscolleges.com/online-executive-mba/">Executive MBA</a>
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College Name & Address | Tuition | Graduation Rate |
---|---|---|
#1 James Madison University 800 South Main Street, Harrisonburg, Virginia 22807 | $10,848 | 84% |
#2 Florida State University 222 S. Copeland Street, Tallahassee, Florida 32306 | $9,684 | 83% |
#3 Auburn University Auburn, Alabama 36849 | $10,080 | 79% |
#4 University of North Carolina 601 South College Road, Wilmington, North Carolina 28403 | $4,719 | 72% |
#5 The University of Texas at Dallas 800 West Campbell Road, Richardson, Texas 75080 | $14,560 | 70% |
#6 Ball State University 2000 University Ave, Muncie, Indiana 47306 | $9,328 | 67% |
#7 University of Arkansas Administration Bldg 425, Fayetteville, Arkansas 72701 | $7,752 | 66% |
#8 Ohio University 020 Chubb Hall, Athens, Ohio 45701 | $9,444 | 65% |
#9 Kansas State University 919 Mid-Campus Drive, Anderson Hall, Manhattan, Kansas 66506 | $10,212 | 65% |
#10 University of Nevada-Reno North Virginia Street, Reno, Nevada 89557 | $5,657 | 61% |
#11 Central Michigan University 106 Warriner Hall, Mount Pleasant, Michigan 48859 | $14,223 | 61% |
#12 University of Hawaii at Manoa 2500 Campus Road, Honolulu, Hawaii 96822 | $15,600 | 61% |
#13 St. Joseph’s College 245 Clinton Ave, Brooklyn, New York 11205 | $19,350 | 62% |
#14 Howard University 2400 Sixth St NW, Washington, District of Columbia 20059 | $32,248 | 65% |
#15 Rochester Institute of Technology 1 Lomb Memorial Dr, Rochester, New York 14623 | $50,136 | 67% |
#16 University of Wyoming Corner of Ninth and Ivinson, Laramie, Wyoming 82071 | $5,076 | 60% |
#17 Louisiana Tech University 1310 West Railroad Avenue, Ruston, Louisiana 71272 | $5,416 | 60% |
#18 Washington State University French Administration Building, Pullman, Washington 99164 | $11,781 | 60% |
#19 California State University 5500 University Parkway, San Bernardino, California 92407 | $7,176 | 55% |
#20 Boise State University 1910 University Dr, Boise, Idaho 83725 | $7,110 | 51% |
#21 University of North Alabama One Harrison Plaza, Florence, Alabama 35632 | $6,660 | 49% |
#22 Friends University 2100 W. University Ave., Wichita, Kansas 67213 | $11,448 | 48% |
#23 Faulkner University 5345 Atlanta Hwy, Montgomery, Alabama 36109 | $10,350 | 33% |
#24 Bethel University 325 Cherry Ave, McKenzie, Tennessee 38201 | $11,382 | 32% |
#25 Texas Southern University 3100 Cleburne St, Houston, Texas 77004 | $4,767 | 23% |
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
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:
<a href="https://www.onlinemasterscolleges.com/online-executive-mba/">Executive MBA</a>
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College Name & Address | Tuition | Graduation Rate |
---|---|---|
#1 University of the Cumberlands 6191 College Station Drive, Williamsburg, Kentucky 40769 | $4,282 | 44% |
#2 University of North Carolina 601 South College Road, Wilmington, North Carolina 28403 | $4,719 | 72% |
#3 Texas Southern University 3100 Cleburne St, Houston, Texas 77004 | $4,767 | 23% |
#4 University of Wyoming Corner of Ninth and Ivinson, Laramie, Wyoming 82071 | $5,076 | 60% |
#5 Prairie View A & M University FM 1098 Road & University Drive, Prairie View, Texas 77446 | $5,096 | 36% |
#6 Louisiana Tech University 1310 West Railroad Avenue, Ruston, Louisiana 71272 | $5,416 | 60% |
#7 Florida Atlantic University 777 Glades Rd, Administration Bldg., Room 339, Boca Raton, Florida 33431 | $5,467 | 50% |
#8 University of Nevada, Reno North Virginia Street, Reno, Nevada 89557 | $5,657 | 61% |
#9 The University of Texas at El Paso 500 W. University Ave, El Paso, Texas 79968 | $5,682 | 37% |
#10 Sam Houston State University 1806 Ave J, Huntsville, Texas 77340 | $5,765 | 54% |
#11 University of New Orleans 2000 Lakeshore Drive, New Orleans, Louisiana 70148 | $6,090 | 42% |
#12 University of North Alabama One Harrison Plaza, Florence, Alabama 35632 | $6,660 | 49% |
#13 Southeastern Louisiana University 548 Ned McGehee Ave., Hammond, Louisiana 70402 | $6,684 | 39% |
#14 University of Oklahoma 660 Parrington Oval, Norman, Oklahoma 73019 | $6,943 | 70% |
#15 University of Central Oklahoma 100 N University Dr, Edmond, Oklahoma 73034 | $7,000 | 36% |
#16 Boise State University 1910 University Dr, Boise, Idaho 83725 | $7,110 | 51% |
#17 University of Arkansas Administration Bldg 425, Fayetteville, Arkansas 72701 | $7,752 | 66% |
#18 Purdue University Hovde Hall of Administration, West Lafayette, Indiana 47907 | $9,208 | 82% |
#19 Ohio University 020 Chubb Hall, Athens, Ohio 45701 | $9,444 | 65% |
#20 University of Missouri 105 Jesse Hall, Columbia, Missouri 65211 | $9,478 | 71% |
#21 Florida State University 222 S. Copeland Street, Tallahassee, Florida 32306 | $9,684 | 83% |
#22 Kansas State University 919 Mid-Campus Drive, Anderson Hall, Manhattan, Kansas 66506 | $10,212 | 65% |
#23 University of Colorado 1380 Lawrence Street, Lawrence Street Center, Suite 1400, Denver, Colorado 80217 | $14,322 | 64% |
#24 The University of Texas at Dallas 800 West Campbell Road, Richardson, Texas 75080 | $14,560 | 70% |
#25 University of Hawaii at Manoa 2500 Campus Road, Honolulu, Hawaii 96822 | $15,600 | 61% |
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.
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.
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:
Traditional or Professional MBA (PMBA) | Executive MBA (EMBA) |
---|---|
Targets younger students who may have little to no work experience | Targets working professionals who already have considerable work experience (5 to 10 years) |
Typically requires about 24 months to complete (full-time) and up to a maximum of 60 months (part-time) | Typically requires 18 to 24 months to complete |
Offers more courses and electives | Offers few courses and even fewer electives |
Offers more options for specializations | Offers few options for specializations |
May follow a traditional semester system/calendar | May follow different delivery formats |
Almost always requires GMAT or GRE scores for admission | Sometimes requires GMAT or GRE scores for admission |
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.
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:
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:
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:
Accredited Executive MBA programs continuously meet certain established quality standards determined by accrediting bodies in academics, assessment, faculty qualifications, and student services. Accreditation is also an endorsement that an Executive MBA program imparts the required education and skills to prepare graduates for professional careers in the business world and trains them to tackle complex real-world problems in business. There are broadly two types of accreditations for Executive MBA – programmatic, in which a program is recognized and accredited, and regional, in which a college that is offering the Executive MBA program is accredited. Some such accrediting organizations are:
The Accreditation Guide contains detailed information on the many advantages of accreditation and its importance.
The Executive MBA time commitment depends solely on the structure and delivery of the program. Delivery can be in synchronous, asynchronous, or hybrid forms, bearing on the duration of a program. Commonly, online Executive MBA students will require 18 to 24 months to finish, with the option of completing the degree within a maximum of 5 years (which very few do).
Executive MBA qualifications and eligibility criteria are unlike those of other Master’s programs. Many business schools will require students to have at least two years of professional experience, but some ask for 7 to 10 years, of which about 5 to 7 years should be in managerial or leadership roles. Some other schools may ask the applicant to show support from their employer, either financially, timewise, or both. In general, however, Executive MBA admission requirements are as follows:
Eligibility Criteria:
Important Points to Note:
(a) Some candidates may have to attend a Personal Interview.
(b) Executive MBA programs generally require applicants to submit standardized test scores of GMAT or GRE. However, some schools either completely waive this requirement or do so under certain conditions. For example, a school may waive the GMAT/GRE score requirement if the applicant has a prior Master’s Degree, a Professional Degree (JD, MD, DVM). Some schools also waive this requirement for students that have an active Professional License [Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), Certified Medical Assistant (CMA), or Professional Engineer (PE)].
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:
Free online MBA
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 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 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.
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.
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.
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 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.
An Executive MBA is akin to a traditional MBA but is designed more for working professionals who want to advance their careers, take on better, important, and more responsible roles, and improve their earning potential. Executive MBA programs typically have more stringent admission requirements over traditional programs in that they require at least 5 to 10 years of work experience in managerial or leadership roles.
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:
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:
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:
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