There are more than 320 Executive MBA (EMBA) programs worldwide to choose from. Even at the most highly ranked Executive MBA programs, the selectivity rate is usually more than 50 percent. EMBA programs usually target older students who are already employed, seeking assistance in climbing the final steps of the corporate ladder. According to the Executive M.B.A. Council, in 2010 the average age of EMBA students was 37.1.
Those considering an Executive MBA program should know most programs require from six to 12 hours of class time per week and from 20 to 25 hours of additional study time per week and occasionally week-long sessions. Some programs require an international trip.
Is an Executive MBA Worth it?
A 2010 Executive M.B.A. Council report shows students of EMBA programs received an average pay increase of 23 percent after graduation. A 2009 Executive M.B.A. Council Student Exit Benchmarking Survey showed 97 percent of EMBA graduates were satisfied or more than satisfied with the career impact of their degree program. In a 2010 Executive M.B.A. Council survey, 43 percent of graduates of Executive MBA programs said they received a promotion.
RECOMMENDED ONLINE SCHOOLS:
1. Kaplan University
2. Post University
3. Capella University
Executive MBA Program Rankings
Sometimes name recognition is more of a significant factor in getting a job than the actual quality of education a school provides. According to a 2011 report produced by the Graduate Management Admission Council (GMAC), MBA rankings are more important to corporate recruiters than the quality of the school’s MBA curriculum and especially the quality of the school’s faculty. Thirty-seven percent of the recruiters surveyed stated the school rankings are critical.
Our list measures the reputation of EMBA programs by combining the ratings of Executive MBA programs provided by prestigious organizations including The Wall Street Journal, BusinessWeek, and U.S. News & World Report. We also looked at the awards provided to business schools offering Executive MBA programs.
#1 University of Pennsylvania (Wharton)
The two-year residential Executive MBA program is available in Philadelphia and San Francisco. The curriculum provides a solid foundation in management. The program’s flexibility allows students to address their specific interests. During the first year, students focus on the core curriculum; during the second year they select a group of electives from one of the largest course selections of any MBA program. The Executive Speaker Series, along with guest speakers, provides students additional perspectives from leaders in government and business.
Program length: Two years
Tuition and fees: $162,300
Combined information from Philadelphia and San Francisco programs from 2011:
- Admitted applicants: 245
- Matriculants: 213
- Median GMAT: 710
- Middle 80 percent GMAT range: 640-750
- Students holding advanced degrees: 40 percent
- Average years of work experience: 10 years
- Average age: 34
#2 Northwestern University (Kellogg)
The curriculum is designed for senior and mid-career executives. The program places an emphasis on the principles of general management, teamwork, leadership, cross-cultural collaboration, and adaptability. Students can choose elective courses at the school’s Global Partner Institutions. Fortune 500 executives, entrepreneurs, nonprofit leaders, and family business stewards work together in study groups, providing the opportunity to create professional and personals relationships. Executive MBA programs are available in Evanston and Miami.
Program length: 22 months
Tuition and fees: $153,900
Information from 2011:
- Requires eight years of work experience
- Some applicants may be required to take the GMAT to strengthen their application
- Applicants are required to be employed full-time
- Annual number of students enrolled: 184
- Average years of work experience: 12 to 15
- Average age: 38
#3 University of Chicago (Booth)
The Executive MBA Program is designed as a general management program with an emphasis on leadership and strategy. The executive MBA is provided in two types of formats: weekends in Chicago or modular one-week sessions in London and Singapore. The curriculum is mainly set. Executive MBA students can concentrate on strategy, finance, entrepreneurship, or marketing.
Program length: 21 months
Tuition and fees: $142,000
- Applicants need to submit a GMAT score; no minimum score required
- Applicants are required to be employed full-time
- A bachelor’s degree is required for admissions; however some applicants who have an impressive professional and/or personal track record have been enrolled without a bachelor’s degree
- Annual number of students enrolled: 90 students from each of its three locations
- Average years of work experience: 13 to 15
- Average age: mid to late 30s
#4 Columbia University Business School
The program combines application-based coursework with business research. The EMBA program places an emphasis on collaborative learning. Students study specialized topics relevant to their specific interests. A substantial amount of the first year consists of the core curriculum, whereas the second year consists of mostly electives.
The school’s collection of partner programs include EMBA-Global Asia, EMBA-Global Americas and Europe and the Berkeley-Columbia Executive program. These programs divide time between Columbia Business School and its partner institutions.
Program length: 20 months
Tuition and fees: $148,320
Information from 2011:
- Class size: 131 (in two clusters)
- 39 percent of students are from the financial services sector
- Full company sponsorship: 38 percent
- GMAT required
- GMAT range: 600 to 740
- Average years of work experience: eight
- Average age: 32
#5 New York University (Stern)
Includes a general management curriculum with two Global Study Tours, as well as a broad selection of electives. The Global Studies Tours provide important knowledge and experience in global business markets. Graduates have access to a global alumni network of more than 100,000 professionals, including more than 500 CEOs, in over 80 countries. Every year the program offers seven to 10 specializations.
Program length: 22 months
Tuition and fees: $144,000
- Maximum number of students: 60
- Average years of management experience: 9 years
- Applicants are required to have a bachelor’s degree and at least six years of full-time work experience
- Provides a limited number of Executive MBA scholarships to applicants receiving partial or no financial sponsorship
- Requires two Global Studies Tours
- Sponsorship required for time out of office
- Average years of work experience: 14 years
- Average age: 38
#6 University of California, Los Angeles (Anderson)
The program places an emphasis on the mastery of business fundamentals and proficiency in analytical problem-solving skills. In the second year, students participate in the Strategic Management research program, a six-month field study program providing students the opportunity to use the tools they’ve learned in the real world. The program provides certification programs in international management, entrepreneurship, marketing, finance, and sustainability.
Program length: Two years
Tuition and fees: $108,240
- Some students are required to submit GMAT or GRE scores and/or TOEFL Scores
- Candidates are required to have a bachelor’s degree and show evidence of strong quantitative skills
- Average number of students: 72
- Average GMAT: 650
- Average work experience: 14 years, including five to eight years in managerial roles
- Average age: 38
#7 University of Michigan (Ross)
Designed for proven managers and senior professionals, the program approaches general management from a strategic level. The program is designed around real issues and solutions. Important program subjects include organizational excellence, analytical tools of business leadership, personal leadership development, and the strategist’s perspective. The coursework is customized to accommodate a student’s significant experience.
The EMBA program places an emphasis on goals, leadership styles, and competencies. The program provides the skill required for dealing with media, boards, and investors, as well as relationships and managing teams. The program is available in Ann Arbor and Los Angeles.
Program length: 20 months
Tuition and fees: $125,000
- GMAT is not required
- Candidates evaluated on their academic and professional achievements and their potential to be strong contributors to the Michigan Ross EMBA Program
- 23 percent of students are from pharmaceuticals/healthcare
- Average work experience: 14 years
- Average age: 38 years
#8 Cornell University (Johnson)
The Cornell Executive MBA program is conducted in a classroom environment at the IBM Executive Conference Center in Palisades, New York. The Cornell-Queen’s Executive MBA is delivered through videoconferencing to boardroom sites in select cities throughout the United States and Canada. The programs are designed for professionals and mid-career managers seeking to move their career to the next level.
The programs combine a traditional MBA program with the general management curriculum. Each course builds on the content of the previous material. Individual assignments let students apply course concepts and techniques to their organization.
Program length: Cornell-Queen’s Executive MBA: 16 months; Cornell Executive MBA: 22 months
Tuition and fees: $138,800
- Applicants with insufficient mathematics skills may be required to take a math course, the GMAT, or a mathematics assessment
- Average work experience: 10 to 15 years
- Average age: 35
#9 University of Southern California (Marshall)
Designed for seasoned professionals and senior managers. The program concentrates on students’ learning objectives on the “interrelatedness” of business functions. The program consists of ten “themes,” two domestic off-site sessions, as well as one international off-site session. The curriculum is presented in the same way the business world presents situations to a senior manager.
Program length: 21 months
Tuition and fees: $111,000
Los Angeles campus profile
- Average GPA: 3.04
- 17 percent of students from high tech industries
- 16 percent of students from financial services
- 29 percent business undergraduate majors
- 21 percent engineering undergraduate majors
- GMAT or GRE exam optional for USC Marshall candidates
- Recommends 8 years of work experience
- Average years work experience: 15 years
- Average age: 39
#10 University of Texas at Austin (McCombs)
The program combines core coursework with six elective hours tailored to the students’ specific areas of interest. Students participate in business plans and case competitions, learn from world-renowned speakers, participate in student organizations, and attend interdisciplinary conferences.
The university provides unique entrepreneurial resources and competitions to help students get ideas off the ground. The Venture Labs Investment Competition winner receives $100,000 in seed funding, as well as a year’s office space and overhead cost in the Austin Technology Incubator. Approximately 50 percent of each year’s teams start companies based on their ideas.
Program length: Two years
Tuition and fees: $75,000
- Average GPA: 3.3
- GMAT required (average score 640)
- Students can apply for a GMAT waiver if they have a terminal degree (PhD, MD, JD) or 20 years of work experience, including years in graduate school
- Accepts GRE
- 21 percent of students in computer-related services
- Average work experience: 14 years
