Executive MBA programs are real boon for MBA aspirants. Why? Because, not all have the same advantage to go for MBA just after they complete their graduation! People from all walks of life may have a dream, a desire to pursue MBA. But due to responsibility or lack of financial ability, they couldn’t do what they wanted to do. Executive MBA programs are doorway for for working professionals who can pursue their dreams now and reach higher rung in their existing career.
In this article, first we will talk about the five top most executive MBA programs in the world. Then we will throw light on when is the right time to go for best Executive MBA program. Finally we will close the article with the Executive MBA Program of IIM, the most reputed institute in India.
Top five EMBA programs in the world
TRIUM Global EMBA
Details: This EMBA gives opportunity to the students to experience truly a global environment. The whole module is divided in such a way that the students need to stay in five different countries to understand the business scenario in all the five countries and then build cultural-orientation to be more global in their approach and become efficient in global-strategy building.
Students first start their module in London, then New York, third module is in China, fourth in France, fifth module in India, and finally again the students come back to Paris to complete their final module. What makes this EMBA great is its high-profile faculty, global environment and strategic approach to teach the cutting edge technology and knowledge about latest business scenarios.
This program is particularly designed for Asian Senior Executives. To present this globally-rich EMBA, again two top-class business schools have come together – The Kellogg School of Management and Hong Kong’s University of Science and Technology (HKUST).
Cost: It costs around $155,000 (US Dollars).
Duration: This EMBA program gets completed within 18 months.
Details: This EMBA program covers traditional subjects like Finance, Strategy, Management, Marketing, and Operations Management. The three chief areas which are being focused in this EMBA programs – what should be the behavior in learning organizations, how to manage groups in international arena and international management. This EMBA also is very reputed due to excellent faculty, global environment and more than three foreign country visits.
This EMBA focuses on cultural diversity. This is also Asia-focused EMBA which is offered by two world-class business schools, INSEAD and Tsinghua University School of Economics.
Cost: This is less costly in comparison with other all top class EMBA programs. It costs around $100,000 (US Dollars)
Duration: Again this EMBA is for 18 months.
Details: This EMBA emphasizes on cultural diversity and conducted in Singapore, Abu Dhabi, France and Beijing. The chief characteristics of this EMBA are its acute focus on management competence, leadership, personal development and development of a global mind-set.
This EMBA is a combination of Asia and West specific business knowledge and culture. Again two top-class business schools have come together to create a great EMBA for executives. National University of Singapore (NUS) and University of California Los Angeles (UCLA) have come together to sponsor this EMBA.
Cost: It is a little bit more costly than TIEMBA. It costs around $107,828 (US Dollars)
Duration: It is just a one year three months course, shorter than any other top-class EMBA programs.
Details: This module includes traditional modules like financial accounting, strategy, operations management and logistics. This EMBA is a combination of two diverse cultures, east and west and the EMBA also teaches how the two diverse cultures are affecting the whole business world. The specific locations where the program is delivered are Los Angeles, Bangalore, Shanghai and Singapore.
EMBA Global Americas and Europe
Here again two top MBA schools have come together to offer this competitive EMBA program. London Business School and Columbia Business School have come in unison to create this lucrative EMBA program.
Cost: It costs around $166,911 (US Dollars). It is the costliest EMBA program offered by world-class B-Schools.
Duration: It is also the longest EMBA program among all other top-class EMBA programs. The duration of this program is 20 months.
Details: It focuses on the managers developing general managerial skills along with giving a regional focus on America and Europe. This program also concentrates on financial accounting, marketing strategy, corporate finance and many traditional subjects. By attending lectures from the two top-class business schools the students are able to get a broad array of resources, network, contacts and cutting-edge knowledge.
When to do EMBA?
If you have had a dream that you would one day do MBA, you may have asked yourself so many times that when would be the right time to do that MBA! Here you will get your answer. When to do your MBA is a valid question, but before that what you should ask yourself is why you would like to do an MBA at the first place.
If you are considering doing an EMBA that means it is usually assumed that after completing graduation you wouldn’t get the chance to do your MBA or didn’t do because of some or the other reasons. And it can also be anticipated that when you are planning to do EMBA, that means you have a numbers of years of corporate experience.
Now, let’s consider what might be your reasons to do the EMBA right now and then we will analyse whether it is right time for you to do the EMBA or not.
Possible reasons for you to do EMBA
- You would like to get a hike from your current position by updating your knowledge, skill and business acumen.
- You have been stuck in the same position for a long time and you would like to explore new avenues in your career or want to reach to management position.
- More than position, you would like to updated more about your cutting-edge technology, competitive market and to get to know more about how business is being done.
- You would like to start your own venture and before that you want to hone your business skills.
- You have good knowledge about business, only thing you want to have is a Post- Graduation degree/diploma for upgrading your own resume.
- You are not satisfied with your current job and want to get placed in some top-class companies after passing out from EMBA.
- You want to build some top-class contacts with your peers and colleagues at EMBA institute and eventually do something meaningful.
There may be thousands reasons for which you would like to do your EMBA. But these are most significant ones for which you would choose to do your EMBA right away. But before you plunge in give yourself some time and ponder three main factors – time, cost and effort.
There is a significant amount of time you need to put in to be able to get an EMBA in the middle of your career. You can expect 12 months to 24 months to be invested for your EMBA in the mid of your career. Are you willing to invest that much of time right now? Ask yourself another question – Think that you have already invested one to two years of life in EMBA. Would you regret it? If you won’t, this is the right time for you to go for an EMBA.
The second most important factor is cost. Here cost doesn’t only include the fees you need to pay for your EMBA. It also comprises of the opportunity cost you would let go of as you would choose to do EMBA right now. In case of fees, top-class EMBA fees are as higher as a full time MBA. And at the same if you would like to invest the money anyway, think what you would do with the money if you wouldn’t invest it in your EMBA.
Would you be able to invest in securities or any investment schemes to expect better returns? Would be able to start an online business on your own? Would you able to invest in any other career courses? Think about results. Combine the opportunity cost with the fees you need to incur for EMBA. And then decide whether to do EMBA right away or not.
Most of us will let go of this factor. It is effort and it is one of the most important factors whether you should choose an MBA or not. After few years of employment, it’s time to come back to study again if you would plan to do EMBA right now.
The question is – Are you ready to study again? Are you ready to put in your effort to open the text books, browse through them, take notes, attend the classes and become a student again?
These are the valid questions. And they need to be answered properly before you plunge in for any EMBA program. Because they will ultimately decide how prepared you are to devote yourself in a program which will update your knowledge, hone your skill, equip you with competitive advantages and give you a new career opportunity! Think about effort and if you would not do EMBA, where you could have invested your effort for nearly 12 months to 24 months? Ponder well and then decide.
Once you factor in these three factors you are ready for a decision and that is whether this is the right time for you to do an EMBA right away or not!
EMBA from IIM
If you have already planned to do EMBA, why not give a try to experience IIM EMBA courses. The following are the details you need to be aware of in order to apply for IIM EMBA programs.
Eligibility: There are four important eligibility criteria you need to adhere to in order to apply in IIM EMBA programs.
- Bachelor’s degree or equivalent from a recognized university.
- 2-10 years of work experience
- Minimum 27 years of age
- Appear for CAT and achieve a brilliant score
Course Description: Following are the detailed description of all the IIM EMBA programs.
- IIM-A: The course name is Executive PGP. The duration is one year. To apply here, you need to have minimum 6 years of experience. It is a residential program. And the fees for this program is more than US $30,000 (21,00,000 INR)
- IIM-B: This EMBA is called Executive General Management Program. Again the duration is one year. Minimum work experience required is 7 years. It is also a residential program. The fees is around same US $30,000 (20, 00,000 INR).
- IIM-Cal: This EMBA is also called Executive PGP. Duration is one year again. The minimum work experience required for this EMBA is 5 years. It is also a residential program. The fees for this course is around US $25,000 (14, 00,000 INR).
- IIM-I: This is also Executive PGP. Duration again is one year. Minimum work experience required is 5 years again. This is also a residential program. The fees is again around US $28,000 (18, 00,000 INR).
- IIM-Koz: This institute provides multiple EMBA options for applicants. They have e-PGP, e-Education Program in General Management, e-Education Program in Finance, e-Education Program in Strategic Management, e-Education Program in Marketing, e-Education Program in Operations Management. No program is residential. Each program has different fees structure. The range of fees starts from US $2,000 t0 $10,000 (from 1,25,000 INR to 5,25,000 INR). Minimum year of experience required is 5 years.
- IIM-L: IIM-L offers three EMBA programs.
- Out of them one is International Program in Management for Executives. It is one year course. Minimum year of experience required is 6 years. It is residential program and fees is around $28,000 (17, 00,000 INR).
- Another is PGP in Management for Working Executives. The duration of this course is 3 years and 3 years of minimum experience is required. It is not a residential program. The fees is around US $13,000 (8, 10,000 INR).
- The third program IIM-L offers is General Management Program for Executives through Virtual Classroom. It is of one year duration. 5 years of minimum experience is required. It is not a residential program. Fees is around US $6,000 (3,30,000 INR).