Many candidates struggle with deciding on which MBA format is a better fit for their career development needs. This decision can become even more complicated when factoring in choosing between part-time learning options like an Executive MBA (EMBA) program or a Part-Time MBA (PTMBA) program.
Both of these will allow you to simultaneously continue your professional career while pursuing your MBA, however, these programs generally attract different types of students and offer somewhat different benefits than traditional MBAs.
The “E” in EMBA says it all – applicants to this program are typically more senior in their organization and with more lengthy work experience than their full-time and part-time MBA counterparts, so in general, there is a significant age and experience difference between the three program types. Coupled with the seniority EMBA classmates and the quality of the interactions, this makes EMBA programs a big draw for many older applicants.
The cost of an EMBA can be significantly less expensive than a PTMBA. Part of this stems from the fact that most applicants will have the tab picked up by their employer. Now this is common as well for many PTMBA students but more common for EMBAs. The reduced price tag can be a big draw for those paying out of pocket for their MBA.
Schools pull out all the stops to support EMBA programs, which makes sense given the hefty price tag. These programs will offer the best professors, learning spaces, dining halls, and materials. Which is contrary to the PTMBA program which generally offers similar resources as their FT counter parts.
The network you will build in an executive program also will be different. With part time programs the student community is fairly transient given the students are splitting their time between work and school. The residential component of the EMBA program allows students to be more realistic about dedicating their efforts to the program for the days they are on campus. This better allows students to bond and get to know their fellow classmates given this additional time for greater interaction. Also, this network is obviously of people who are very senior in their organization, which makes for great collaborative opportunities outside of the classroom.
As always research is the key so go beyond secondary research and connect with current students and admission officers to get a feel for what program best addresses your development needs.
Applying to business school? Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or take our free MBA Admissions Profile Evaluation for personalized advice for your unique application situation! As always, be sure to find us on Facebook, YouTube, Google+ and Twitter.
Dozie A. is a Veritas Prep Head Consultant for the Kellogg School of Management at Northwestern University. His specialties include consulting, marketing, and low GPA/GMAT applicants. You can find more of his articles here.