If you have a few years of experience working in the corporate world, and you’re thinking about going back to school, you may have heard of a degree called the EMBA. What’s the difference between it and a traditional MBA, and which one’s right for you? The four most important factors to consider are: working experience, tuition costs, whether or not you’re already working, and depth of study.
EMBA candidates have a lot more experience
The “E” stands for “Executive,” because post-graduate students pursuing this degree typically have a few more years of experience in management positions. They often return to school for a promotion into an executive role, and the programs are designed for professionals who continue to work full time. Because students typically have more experience, programs skim over fundamentals. If you’re considering holding out on business school for a few more years, ask yourself about the critical skills you may miss out on with a less-intensive education. Conversely, a coop MBA (these programs are slowly becoming more popular, but it began with MBA internship opportunities at Laurier in Waterloo) can accelerate your career by connecting you to valuable experience ahead of professionals who wait to pursue further education.
EMBAs are also a lot more expensive
Business schools in Canada typically charge considerably higher tuition for an Executive Master of Business Administration. The tuition cost of an EMBA at some schools can be twice as much as the cost of a more in-depth Master of Business of Administration program. Many proponents of the Executive option claim that employers will reimburse you for your education, because they plan on benefiting from your new skills. The percentage of employers who fully finance EMBAs is on the decline, and less than a quarter of all candidates today are reimbursed by their employers.
A part-time MBA can take a similar amount of time
A part time MBA at Laurier’s downtown campus in Toronto takes 2.3 years, compared to the 2-3 years of most EMBAs, while offering a much more in-depth education in management. The part-time degree is designed around professionals with busy schedules, allowing them to balance their careers, family lives, and education. Classes take place on alternating weekends, including Friday evenings and all day Saturday, with no classes during July and August.
Part-time MBAs are a comprehensive way to study business theory
A Master of Business Administration is designed for students with less professional experience, who need to learn how to consider every area of business before making a decision. The Integrated Core method taught at Laurier in their first term requires students to draw on all of the core fundamentals of business. This term prepares students to become better thinkers who are capable of seeing the whole picture when they’re faced with real world challenges.
If you’re wondering whether you should wait to take an EMBA or dive right into a part time Master of Business Administration, consider all of the factors. Are you going to seize the bull by the horns, or play catch up later on?