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Should I Get an Executive MBA?

Interested in top programs, check out our ranking of the best online EMBAs today! >>

When deciding on a master’s program, it’s always important to consider your goals. But even when you’ve narrowed down your career goals and settle on a business education, it can be daunting deciding what kind to pursue. There are Global MBAs, Professional MBAs, Modular MBAs, and a variety of delivery methods including part-time, full-time, accelerated, among others. A major component of choosing an MBA program is logistical, and based on what it requires of you. Executive MBAs (or EMBAs) are conveyed for working professionals who need to continue working while they go back to school. Generally, these degrees are offered at a part-time schedule over 12-24 months. Business schools generally look for EMBA candidates that have significant managerial experience. Often, EMBA students receive tuition assistance from their current workplaces, who have a vested interest in their employees achieving the degree.

Many working professionals and managers feel that their careers have hit a dead end. Maybe they don’t see potential for growth or promotion in their current position, or maybe they’re just tired of the managerial grind. By entering an Executive MBA program, you can rekindle the passion that got you into business in the first place. You’ll learn alongside like-minded adults in similar circumstances, and have an opportunity to discuss, dissect and create new opportunities together. Executive MBA students are known for their maturity in comparison to more typical MBA programs, and the combination of experience, maturity and a willingness to work on yourself years (often a decade or more) into your career is extremely attractive to employers. Never underestimate the influence learning new things and meeting new people can have on your motivation, ideas and goals.

If you’re looking to meet people eager to continue careers or become elites in business, private banking, federal jobs, and IT, EMBAs are a great place to find them. Are you an aspiring entrepreneur? It’s much easier to get a new business off the ground with the right team. You’ll also meet people who know venture capitalists, investors and startup founders, and get extended chances to pitch them on your plans. It’s also a chance to redefine yourself. If you feel stuck in what you’re doing, or wish you had a different reputation in business, this is a chance to decide what you want, how you want to be perceived, and go for it. If you’re generally happy where you are but looking to add something impressive to your resume, EMBA graduates are often in line for promotions, especially in finance, marketing and accounting.

According to Forbes, in 2015 the average cost of an EMBA program was $75,000…They also wrote that the average salary and bonus package for EMBA graduates rose from a start of $155,848 to $181,965.

One factor to consider is cost. According to Forbes, in 2015 the average cost of an EMBA program was $75,000. Obviously you can shop for deals, and Forbes noted that 53% of programs offer scholarships and fellowships (in addition to other forms of financial aid, including tuition assistance from your current job), but for some the cost of an EMBA may prove prohibitive. Forbes also recommended prospective applicants for EMBAs aim for top ranked programs like the University of Chicago’s Booth School, or Penn’s Wharton. These programs are committed to their reputation, and do a good deal to support graduates and help with their career prospects. A common complaint of EMBA graduates is they don’t feel their schools did enough in this department, so it would behoove you to research which schools’ graduates feel they were correctly supported by their respective institutions. Forbes’ analysis found that EMBAs are better for students that want to continue in their current career, but achieve more. They also wrote that the average salary and bonus package for EMBA graduates rose from a start of $155,848 to $181,965. Equally importantly, 53% of EMBA graduates were given new responsibilities and 38% got promoted while in their programs.

EMBAs are a serious investment, but many come with considerable rewards, including experience, networking opportunities, a schedule based around your existing priorities, and much more.

Another great reason to get an Executive MBA is if you feel like your industry is rapidly changing and you need to get ahead of where it’s heading. Health professionals and those working in Information Technology in particular are flocking to EMBA programs. Most importantly, if you feel like you’ve been underachieving, this is a chance to build new patterns and get into a workflow that requires constant output. “Busy people tend to get things done,” USNR quoted Michael Desiderio, executive director of the Executive MBA Council, as saying. The Executive MBA Council gives resources to EMBA programs and researches them to measure changes.

Finally, you should get an EMBA if you want to broaden your knowledge. EMBA programs tackle operations, marketing, strategy and much more. You may be an expert in one aspect of your business, or perhaps several. You can always gain more knowledge and experience, and a EMBA is a great way to do so while brushing up in areas you’re not as confident in. Plus, many EMBA programs offer specializations (like in health care) to allow students that know exactly where they want to focus to do so.

EMBAs are a serious investment, but many come with considerable rewards, including experience, networking opportunities, a schedule based around your existing priorities, and much more.

If you think you might be interested in an EMBA, make sure to check out our ranking of the best online EMBAs today! >>

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