Professionals looking to expand their careers by pursuing the executive MBA program usually encounter a myriad of issues they’ll need to overcome. However, the specific difficulties EMBA students will face could be different based on the particular circumstances of the student and the institution they select. The following five obstacles are among the most frequent obstacles that they will need to overcome.
1. Small Amount of Available Programs
The first hurdle that prospective EMBA students will have to face is finding an institution in their area that has an executive master’s program for business administration. The amount of EMBA programs across the United States is few and few and far between. Because of this when the option of living on campus isn’t an option for you, students might discover that they need to travel long distances to get to classes. This can be particularly challenging for students who are full-time and with jobs.
Check out our list of the top 30 Most Effective Executive MBA Online Programs.
2. Fewer Specializations to Choose From
Similar to how executives in MBA programs are rare and scarce as are the specializations in EMBA programs. There are specialization areas for these programs, however, students need to look for a field they’re keen on. A lot of students discover that they need to stick with a generalized degree or a specific area that isn’t even close to their interest. A possible solution is to search for an institution that has a variety of certificate programs, in conjunction with the EMBA.
3. Rigorous Study Schedule
Another issue that students commonly confront in an executive-level MBA program is the rigorous program of study. According to an article in Forbes said, these MBA programs tend to be fast-tracked. While this is beneficial but the rigorous requirements to be successful in an academic program can be daunting, especially for those with families or jobs. If you take into consideration the commute time and all that, there are often very only a few hours or less for other activities.
Also, read more about the Best Executive MBA in Mumbai by IIT Bombay and Washington University in St. Louis.
4. High Tuition Rates
It is also an issue for students who are pursuing an EMBA. While tuition rates can differ greatly between different universities as per the article in Forbes The median annual price for an executive MBA program is approximately $75,000. In certain instances, employers will pay some of the tuition but the rest of the cost will have to be paid out of pocket or through grants, scholarships, or loans.
5. Recruiters Often Prefer MBA Students
The fact that recruiters typically favor MBA candidates over EMBA students when it comes to job placements is yet another issue EMBA students might have to overcome. The reason behind this is that employers typically believe that EMBA students aren’t qualified enough for the positions they are offered and, consequently need to be paid more. In addition, students who are employed be surprised to learn that employers don’t take them seriously after obtaining their EMBAs.
Earning the EMBA is an ideal choice for those who want to expand their professional abilities and career opportunities. While there are plenty of benefits to enrolling in an EMBA program, however, there are a number of issues EMBA students might confront. These challenges are among the most frequent. Knowing these issues and preparing for them can help potential EMBA graduates reach their academic goals.
6. Gap in Work
It is impossible to work and pursue an all-time MBA at the same time. This Executive MBA program is designed so that it demands that you have at minimum one year off from work in order that you can focus on earning the MBA degree you’ve always dreamed of. In addition, you need to be aware that this gap will show in your professional career. Additionally, you’ll have to put aside the joy that you feel at the conclusion of every month when your paycheck is credited.
However, if you’re considering changing careers to create your own company or get an official Corporate sponsorship from your present employer, and you are looking for taking a part-time MBA could be the perfect option for you.
7. Exhaustive Curriculum
If a two-year full-time MBA course is stuffed into a single-year Executive MBA course, the program is likely to be extensive and rigorous. Furthermore, as this course is designed for professionals in the workplace The course requirements could become too overwhelming. With so much to be done within a brief duration, there are only a few minutes to complete other tasks.
8. High Fees
If you’re planning to go to one of the best B-schools in India Be aware that it’ll definitely cause a dent in your savings. An Executive MBA full-time program at these schools ranges from about Rs. 14 – 30 lakh. Because it is a full-time program and students must commit a lot of hours to complete it and has a huge course, the costs are significantly higher than an hourly MBA course. It is necessary to count on their own savings or go for a loan to take this degree.
9. Complicated Admission Process
As with the full-time MBA course, the Executive MBA admission process is complicated and the process of selection is broken down into three phases. In the initial stage, you must score an excellent score on GMAT or any other equivalent test given by that specific B-school. The next step will be that of the Personal Interview round. There are however some schools that require more than your entrance exam results. It is required to write an essay or write an examination and/or provide a statement of Purpose (SOP) as well as Letters of Recommendation from former employers. The admission process is clearly an extended process that may seem too long for Executive MBA aspirants.
10 Placement Diaries
After you have completed your Executive MBA program, you may either apply for a job in your former company or try a different organization for a similar position. If you’re MBA was a part of your former employer and you are a part of it, it is only logical to return to that organization. If you’re looking for an upgrade in your career it is possible to do that however the compensation you get typically will be comparable to that you earned prior to when you quit completing your full-time MBA course. This is because even though you’ve done very excellently in your MBA but you don’t have any work experience prior to the fact that you completed it. This could be viewed as one of the disadvantages of taking a full-time Executive MBA program.