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What Is an EMBA? And How Is It Different from a Conventional MBA Degree?
MBA programs tend to concentrate more on specific business areas, such as finance or marketing, in terms of curriculum. EMBA programs, on the other hand, tackle business studies from a strategic perspective, broadly covering all aspects of the industry from a tenured professional perspective. If you have set sight on a chief or director level roles, online EMBA is the way to go.
The corporate field is rapidly evolving to accommodate more dynamic businesses and also expand the influence of technology into every area of business. This expansion requires highly talented individuals who will be able to manage and improve employees to contribute to the growth of the parent companies.
The rise of business schools around the world is a testament to the growth and demand of the management career. The primary reason for the keen interest in MBA programs is that employers in developed countries hold high-quality graduates.
Nine in ten employers planned to hire MBA graduates in 2017, according to the Graduate Management Admission Council’s (GMAC) 2017 Corporate Recruiters Survey Report. Besides, the polls revealed that employers in the Asia-Pacific region are more likely to hire new business school graduates to fill senior positions than employers in the other areas. And the good news does not stop here for MBA graduates, because almost 60% of employers in the Asia-Pacific region stated that they plan to increase MBA salaries in line with inflation.
Everything from business Development to Human Resources and, in some cases, marketing is among the most prevalent sectors for MBA graduates. Many employers in Asia-Pacific appreciate specialized knowledge and are inclined to seek recent MBA graduates with specialized MBA degrees and even pay a premium salary for those skills.
GMAC survey reports that the majority of aspirants embark on EMBA – Executive MBA programs to prepare themselves for top leadership positions. The 2019 EMBAC (Executive MBA Council), Student Exit Survey, discloses that post completion of the program, EMBA graduates claim to receive a 13.5% increment in remuneration (salary and bonus). Additionally, 53% of students claimed to have an increase in their responsibilities. And 40% of students have gifted a promotion during the program.
Benefits of Executive MBA and Why It Is Important
EMBA emphasizes professional and leadership skills development, and executive management attracts a massive number of business professionals to pursue this course. Mainly, focused individuals who are keen on developing their own business or looking for a higher position in their job career should study EMBA online. This program is undoubtedly helpful and beneficial for students who have a bachelor’s degree and have at least two years of executive or managerial work experience.
- Significant Increase in Earning Potential
According to EMBAC 2019 survey, the bonus and the average salary for students at the beginning of the course were $205,008, which increased to $232,663 when the program completed. Similarly, in Africa, according to the MBA Crystal Ball survey, 48% of increased pay is noticed where the average salary increment is from $140,000 to $207,000 after completing the EMBA program.
- Opportunity to Start Own Ventures
EMBA programs generally have a student-focused approach with different objectives in their careers. The program helps you to set up realistic expectations and guide you towards accomplishing your goal. According to PayScale, EMBA holders are expected to have an annual salary of $228,379 on an average.
- Enhanced Networking Skills
Nearly 85% of jobs/opportunities are found in the hidden market that is only accessible through networking.
- Increased Soft Skills and Business Intelligence
Executive MBA holders develop their knowledge of strategy, finance, and economics during the course. However, rigorous soft skill training and endless webinars and workshops allow the students to become better thinkers and efficient doers in the process.
Critical Leadership Skills Associated with an EMBA Aspirant
The benefits of an MBA are numerous. The programs not only allow you to advance professionally but also teach various leadership skills, which will indirectly benefit your employer and you at a grass-root level. Some of the leadership skills associated with EMBA careers are:
An essential ability in leadership positions that you need to establish is to communicate effectively with associates and clients.
- Building Confidence
Students coming in for the program may have low confidence despite being from a business background; the training and exposure during the course will boost their confidence.
- Analytical Thinking Ability
To understand the different areas of a business, an individual thinks analytically like a leader. The EMBA program will provide an overview of the business areas educating students to make decisions logically.
- Problem-Solving Skills
One of the benefits of an executive MBA program is that it allows students to work while they are studying, permitting them to apply immediately in their current role, whatever they learn during the course. Meanwhile, when a problem arises, solutions to the problem can be found after discussing, enabling the students to think irrationally beyond their capacity to boost their problem-solving skills.
Benefits of Pursuing EMBA at a Leadership/Managerial Level
From professional to personal, at a leadership/managerial level, the benefits of pursuing an EMBA course are countless. The course helps an individual think, act, and perform in various ways allowing them to apply for MBA jobs. To list a few, they are;
- Cover the Pores
As a leader, you are required to have a good grasp of some areas like global political analysis and strategy building: process management, and more. The curriculum of the course will allow you to become worthy of covering the pores in the system.
- Developing Leadership Traits
A leader is expected to be flexible, aware of every context, and be able to adjust their leadership approach according to the situations. The program combines a wide range of learning methods that will help individuals to redefine and develop their leadership skills.
- Constructing a Robust Network
Streaming through the path of EMBA careers gives every individual a priceless opportunity to meet and interact with multiple people (individuals/groups), helping them build a robust, professional, and personal network. As a student, you will also learn to use various tools to connect with people using multiple online platforms.
- Making an Immediate Impact
As you will be pursuing a part-time course with your full-time job/business, you will be able to have a direct effect at your workplace. Whatever you learn in the classroom, you will apply directly to the real-world scenario. The program also exposes you to certain practical elements to make you ready to implement them immediately.
- Taking Charge of Your Career
If you study EMBA, you will have diversified needs for career support. Be it a new business venture or career advancement, EMBA will allow you to come across new opportunities, and there are very high chances to improve your skills personally and professionally.
An Overview of the Earnings of the MBA and EMBA Graduates
A massive group of people still think that pursuing a standard MBA degree is best among everything. But, an option to study EMBA online might turn out to be a much better investment. According to the Washington Post report, an individual with a traditional MBA earns about $90,000 a year on average.
On the other hand, the average earning of an executive MBA degree holder is $164,845. That’s a remarkable difference of $74,845 per year. The difference is because of the professional experience the candidate holds.
According to the recent survey by the EMBA Council, the average package (salary + bonus) for an EMBA student was $174,498. By the time the program was completed, the package was raised to $197,719. That’s a striking increment of 14.6%. It means that the EMBA program exposes your compensation to a sizable increase.
With this, you can immediately see a return on your investment soon compared with an individual pursuing a traditional MBA. Jobs for MBA holders are abundant, and now, it depends on the type of MBA.
What Is the Career Path with an Executive MBA?
The Executive MBA program is designed for working professionals looking for growth in their industry but cannot go ahead with a full-time MBA because of personal commitments. Through this program, it is convenient for them to maintain a work-life balance, and with the degree, they can move up the ladder effortlessly. An executive MBA allows you to form a career trajectory in different ways. They are;
- Leadership Development
With the boost in leadership skills, you will also develop innovation, creativity, and tolerance for uncertainty, which will allow you to be a better planner and increase your problem-solving ability.
- See and Show a Bigger Picture
Your knowledge, expertise, and commitment towards your role will increase your importance. It is your chance to show the same to your associates.
- A Better Approach to Solving an Issue
The EMBA program trains and develops individuals with particular skill-set that makes them take a better approach to solving problems when compared with others.
- Market Ready for New Opportunities
The content of the EMBA program introduces you to modern management practices that open up your vision to consider new challenges. In short, EMBA careers make you test new opportunities in the market.
Why Should You Choose Texila to Pursue Online EMBA?
Texila’s Executive MBA program helps the students to equip leadership skills and knowledge for various functions of an organization. Planning and implementation of models and projects, understanding global business scenarios, and the ability to face competitions with utmost confidence and become better leaders are a few qualities that students studying EMBA from Texila will develop.
The course helps the students to become better managers and make wise managerial decisions. With this course, the students will think out of the box and look for complex solutions. This course improves their critical thinking capabilities and reasoning abilities in real-time, and they will be able to suggest/take suitable alternatives quickly.
It nurtures the students’ potential, allowing them to make strategic decisions with proper planning and showcase their sheer determination and confidence in society. TAU’s Executive MBA is a rigorous program that makes an individual market-ready for any role in the industry.