Would like to read about others’ experiences or knowledge of Executive MBA programs. Any type of comments related to such MBA programs are welcome.
If the poster attended an Executive MBA program, was it funded personally or paid/reimbursed by your employer ?
After earning an Executive MBA degree, did you remain with your current employer ?
Was the investment of time & resources worthwhile ?
In order to help generate responses, here are the 28 Executive MBA programs ranked by US News:
https://us-news.com/best-graduate-schools/top-business-schools/executive-rankings
The Top 10 ranked Executive MBA Programs are:
https://usnews.com/best-graduate-schools/top-business-schools/executive-rankings
U Penn-Wharton
Northwestern-Kellogg
Chicago-Booth
Columbia
Duke-Fuqua
UCal-Berkeley (Haas)
U Michigan-Ross
NYU -Stern
UCLA-Anderson
MIT-Sloan
My H got his at stern, completely paid for by his company, 23 years ago. He’s still with his company, I don’t remember if he was required to stay a certain amount of time, but he’s still working there today. No regrets.
I did a conventional MBA at one of the schools you’ve listed, but have hired folks who have done an EMBA, supervised employees in and after these programs etc.
I don’t think there’s a one size fits all answer. Depends on what kind of role the person is in now, wants to end up in eventually, what they studied as an undergrad (i.e. is the content duplicative or brand new), and what kind of salary bump they are hoping for.
No MBA is a magic wand which is going to make all career difficulties or challenges go away. So the “why” is important. The EMBA programs specifically are designed for a narrow age cohort for a reason- they’ve determined that this is where the pay-off is the greatest for both employee and employer. I talk to many 23 year old’s who want the EMBA “lift”- they really need to consider a conventional MBA because they don’t have enough work experience for a program designed for a 28 year old. But they want to stick with the current job, get the employer to pay for it, while they take the time to “figure things out”. That’s not what the programs are for.
What specifically do you want to know?
Following since I’m interested in the responses, although my S is considering a traditional MBA. He’s had a deposit in at Columbia since he applied during his senior year of college, although he wouldn’t start until fall ‘27. If he attends, S’s company will pay, but he’d have to return for at least two years I believe. It’s a tough decision and he’s trying to weigh the pros and cons.
You cannot compel someone to work where they don’t want to work (Slavery was outlawed by an amendment to the constitution). The way it typically works in practice is via an interest free loan. So an employee who decides NOT to return to the sponsoring company, gets another job, usually uses the debt they’ll owe to the sponsoring company as a “discussion item” while figuring out the offer. I have not seen a company offer to pay off the entire loan, but I have seen “more generous than usual” signing bonuses to be used to partially pay off the loan.
In many instances, the upside of the new job more than compensates for the debt. YMMV.
So if the key concern is “do I really want to commit to two years of my life to this company after the MBA”, a more realistic way to frame it is “If I return to the company for a year (so half the debt would be forgiven), am I confident that I can get another job at a higher salary to retire the rest of the loan?”
For most young people with the “free” MBA in the offing, the two years post return goes by very, very quickly. Even the employees who think “I’m going to be bored and regret it” usually are not. They got slotted into a more demanding and challenging role upon their return, they get high quality mentoring (the company wants a return on their investment via more productivity, etc.) and it doesn’t turn into the “same old same old” they feared.
Again, YMMV and there are a lot of factors to consider.
Also following as my D was originally planning on an EMBA but she’s less certain that it will be necessary for her career advancement, especially if she remains with her company.
The company subsidizes educational costs but not all of it.
D has been researching the program at Fuqua as it’s more of a hybrid approach with one weekend/month on campus for 22 months in addition to the online work. I think one of the big parts of an MBA are the connections and networking so getting to see your classmates regularly seems like a big benefit. That would work for her because she’s within driving distance.
If she ever changes industry, we would encourage her to do a traditional MBA.
It’s interesting to me that a lot of experienced, low level people I know do an EMBA.
One of my good buddies did the Michigan one - and met a colleague through it - that got him a left from below manager level to executive at a well funded startup. He was laid off 5 or 6 years later but now is a Director level at a well known automotive, likely higher than he’d be if he’d never done it.
He paid the bulk - the tuition of the companies i know about is very limited - 6-15K a year in assistance - depending on the company - and these are majors (I think it’s actually $5750, not 6).
Good luck.
If the company is paying at that low a level, I’d consider that a straight up “tuition benefit” and NOT sponsoring an MBA. Which is fine- but then an employee should consider the “pay as you go” option. 7K doesn’t get you very far with an actual MBA program!
Nothing specific; just seeking comments that others wish to share on the topic of Executive MBA programs/experiences.
I have a good amount of knowledge of the top EMBA programs and have been following developments of these programs since the early 1990s.
The first EMBA program was started in 1943 by the University of Chicago. EMBA programs grew substantially during the 1980s & 1990s.
A long repeated guideline regarding EMBA programs was that applicants should have at least 10 years of post undergraduate degree work experience of which at least 5 years were in middle management or higher.
EMBA programs are cohort based.
Recent profile of a Northwestern Kellogg EMBA cohort shows average salary when entering the program of about $175,000 with an average of 15 years of work experience; about 70% were at the level of Director, VP,and/or C-Suite executive.
Or NOT middle management. Deep functional expertise (so someone who is a highly skilled individual contributor) is also great prep for one of these programs. Some career paths aren’t the pyramidal “Up and down” but advancement looks more lateral.
Agree. Even U Penn’s Wharton School EMBA will accept applications from those with fewer than 8 years of work experience and less than 5 years of management experience; however, a separate application is required and few enter into the EMBA program with less than 8 years of post undergraduate degree work experience.
Northwestern-Kellogg requires a minimum of 8 years of work experience as well as a letter of employer sponsorship (not necessarily regarding COA, but does need employer acknowledgement of the time commitment required and expected).
EMBA students at the top programs typically remains in their full-time career position.
An interesting aspects of EMBA programs is the low international student enrollment compared to regular MBA degree programs.
EMBA classes typically meet once or twice a month on a Friday, Saturday, & Sunday.
Interesting situation. Much to consider as your son would be, I assume, sacrificing 2 years’ pay, but incurring little to no educational related debt/obligations.
An important point to consider: Will your son’s company permit him to engage in a Summer internship with a different employer ? Important as this is one of the most coveted benefits of attending a an M-7 MBA program. (M-7–Magnificent 7-MBA programs are typically considered to be the most elite, prestigious US MBA programs. The M-7 group is composed of Harvard Business School, Columbia Business School, Stanford GSB, Northwestern-Kellogg, MIT-Sloan, Penn-Wharton, and Chicago-Booth, if I recall correctly.)
@elena13: Currently, Columbia’s full-time MBA program asks students to budget $140,000 for the first year of the two year MBA program as an estimate of the total COA (cost-of-attendance for the year).
Also,presumably, the two years of sacrificed earnings would be among his lowest over the course of his career. This, along with employer financial sponsorship, places your son in an attractive position.
As a side-note: Columbia Business School applications may be suffering due to far fewer international applicants in the current climate. Application numbers may be down by as much as 40% for an MBA program such as Columbia which usually enjoys one of the highest percentages of foreign/international students in each class.
Many companies won’t allow the employee to go elsewhere for the summer internship- but will create a special internship instead- a rotation in the UK office, a secondment to the head of strategy who typically doesn’t use interns, a task force working on a high profile initiative from the CEO’s office, etc.
So going back isn’t a step backwards….
An interesting fact to note: Most elite EMBA programs share the average age and average salary of each cohort. Among some of the top US News ranked programs participants’ salaries range, not average, from about $80,000 to as much as $500,000.
Recently reported average annual salaries for enrolled EMBAs by program was:
U-Penn Wharton EMBA = About $240,000 average salary;
Georgetown EMBA = $145,000 (lots of federal government employees, I suspect);
Northwestern-Kellogg EMBA = average salary when entering the program = about $175,000;
NYU-Stern reported average salary for EMBA students was, to me, a bit low at about $152,000 as the cohort’s average work expeience was 13 years and average age was 37;
Duke-Fuqua = $165,000 average, average age of 35, and average of 12 years work experience;
Michigan-Ross reported an average of $250,000 salary for its participants;
Cornell-Johnson was at less than $140,000;
Columbia Business School reported average salary on entering the program at $175,000;
UC-Berkeley reported about $155,000.
It’s interesting - but I also see/hear many looking that aren’t near executives - so i laugh at the name.
EMBA programs are not designed for a “narrow age cohort”; I think that you’re thinking of regular full-time MBA programs which tend to prefer those with a fairly narrow range of work experience and those aged 25 to, typically, under age 35 even though there are no hard-and-fast rules regarding age and work experience for regular, full-time MBA program participants.
The top MBA admissions consultants frequently write about whether or not one is too old for a regular MBA program defining their concern to those aged in their mid-30s or older. One can be too old for an elite MBA program (of course, there are exceptions), but have too little meaningful work-experience for an EMBA.
EMBA programs typically want at least 8 years of post-undergraduate degree work experience, but 30 years of work experience is fine as well.
Several of the top EMBA programs require a letter of employer sponsorship which recognizes the potential of the candidate and the time commitment required for the program.
EMBA programs tend to regard class attendance as a critical factor to both individual & program success. Classes are compressed into one or two, 3 day weekends per month and involve group, team based homework between class weekends.
In the 1990s, one of the most respected MBA consultants (a former admissions director for the Univrsity of Chicago MBA program) wrote in her widely praised MBA Admissions book that one would be foolish to turn down an offer from an EMBA program in favor a regular full-time MBA program due to the experienced knowledge shared by EMBA participants and influential contacts made with others in the cohort.
@elena13: Please ask your son to consider that if he decides against attending Columbia Business School after 2 years of post-undergraduate work experience, that the opportunity to earn an MBA may not be presented later as life developments (family & increased work responsibilities that may require frequent travel abroad and long hours at work) tend to get in the way.
Earning an MBA from an elite MBA program typically has more value in terms of career options than does an MBA degree from a non-elite program.
P.S. Another aspect to consider when looking at an elite (or even non-elite) MBA program is the opportunity to cross register for a limited number of credits in another graduate school at the same university. I have advised this for several attorneys who elected, or, at least, considered, returning to school to earn an MBA. Most,maybe all, elite MBA programs allow cross registration with the law school and other graduate school programs for a limited number of credits.
The 1990’s were a long time ago.