In this fast-paced world, staying updated has become a necessity. Be it your gadgets or your skills, staying updated everywhere makes living easier in this fast-paced world. For people working in the corporate sector, staying up to date is even more crucial. Work experience indeed counts, but at a time where every company wants fresher minds, upgrading oneself makes facing the challenges easier.
If you are a professional with years of work experience, looking for a skill upgrade, an Executive MBA program is perfect for you.
What is an Executive MBA program?
An Executive MBA or EMBA program is typically pursued by professionals looking for a skill upgrade. Unlike the traditional MBA program which is a two-year-long full-time course, EMBA is only a year-long course specifically designed for working professionals looking for opportunities to enhance their profile while working on their full-time jobs.
For those trying to understand which of the two programs is better, it is vital to know that there is no comparison between the two. A traditional MBA enables you to have a jump in your packages, switch your job or role, and even get new job offers. An EMBA, however, is more about upgrading your current skill set, filling the gaps in your knowledge, and getting in touch with the latest work trends. It typically requires a minimum of 10+ years of work experience.
While the idea of upgrading yourself with an Executive MBA sounds tempting, choosing the right program to suit your needs can be a daunting task. Don’t worry, we have you covered in that respect. Here are the most prominent factors that you must consider before choosing the program that suits you:
The most significant factor to consider while choosing an EMBA program is your schedule. Since most professionals study along with their full-time jobs, your program schedule should be compatible with your work hours.
If attending a program would mean taking off from work every few days for your study session, that won’t be the best program for you. Before finalizing any program, make sure that it gives you ample time between sessions to complete assignments and revise without forcing you to compromise with your work.
● Content of the course material:
Your program must focus on skill enhancement. It is crucial to select a program with a curriculum that mirrors the current industrial needs and is regularly updated to accommodate the new industrial norms. An outdated curriculum won’t help you meet your main target of upgrading your skill.
While the course content of a program and schedule are essential factors, a program with a flexible schedule won’t be of much use to you without the top-notch faculty. To make sure that you get to learn from the best, check the credentials and experience of the faculty before applying to any program.
● ROI of your program:
Most EMBA programs will recoup the cost of the program within a few years. However, it is wiser to invest in a program with the best ROI.
One can find this out by finding the total cost of the program and the gains from the programs. While finding the ROI some of the factors to consider under program costs also include:
-Any loss in income due to time invested in the program
Factors to consider under the returns from the programs:
-Scope for better opportunities
-Access to trained business or leadership coaches
Taking these factors and others into account, choose the program with the best ROI.
● The Non-negotiable returns from your program:
Finding a program which suits all your needs is almost impossible. While choosing a program one needs to set a list of benefits/ services where they can’t compromise. Some of these benefits may include:
-Type of alumni network
-Connection with the top companies
-Types of students you’ll be studying with
-A network of professionals relevant to your requirements and field of work
-Reputation and popularity of the program
-Ratings of the EMBA program you are looking for
It is essential to make your decision based on the reviews of the EMBA program specifically. Some reputed schools have very high overall ratings but average EMBA programs.
● Diversity and international exposure:
You may not get to travel internationally during your program, but a program with students from diverse backgrounds will offer you better exposure. International connections help you build a strong professional network both outside and within your country. A strong network helps expand business or take up a new job internationally. The local markets are strongly connected with the global trends. A candidate with both local and international experience under their belt has better chances of professional growth.
The above-mentioned factors should be your priority while choosing an Executive MBA program, but other factors based on every individual’s specific needs like budget, location, travel expenses also matter. A program chosen after thorough research to suit the majority of your needs will help you build a strong professional profile and take your career to new heights.