What Is an Executive MBA — and Is It Right for You?

The executive MBA (EMBA) has long been the go-to option for experienced professionals and executives looking to take their careers to the next level and strengthen their leadership skills — without stepping away from their jobs.

As a result, EMBA programs are generally built around cohorts of mid-to-senior-level professionals. This helps create a collaborative environment where students learn from both faculty and each other.

If you’re interested in pursuing an EMBA, read on to learn more about how this program works and whether it’s right for you.

The executive MBA (EMBA) has been about flexibility for working professionals since it was launched at the University of Chicago Booth School of Business in the 1940s. At the time, it was a program aimed at helping working professionals earn an MBA without leaving their jobs, the first of its kind.

That same emphasis on flexibility remains today. EMBA programs often offer weekend and evening courses for students who prefer in-person learning. There are also online EMBA programs that feature an asynchronous format for added convenience.

When it comes to their curriculum, EMBAs are geared toward professionals with years of experience, and their courses generally center around the skills and knowledge needed to lead a team, business, or organization strategically and effectively.

Keep in mind that you’ll still take core business courses like accounting and finance, as you would in a traditional MBA, but you may have fewer elective options.

The main difference between an EMBA and a traditional MBA is their audience. Since an EMBA caters to more experienced professionals, its program format and curriculum is tailored to meet the needs of this group, such as strengthening leadership skills and enhancing strategic decision-making.

On the other hand, a traditional MBA typically targets individuals earlier in their careers, with a curriculum that emphasizes foundational business skills and offers a broader range of elective options.

However, EMBAs and MBAs share a key similarity: Both are now widely available in accessible, online formats that tend to offer asynchronous courses. This allows you to work toward your degree around your schedule — even if you have a full-time job.

Below are some other differences and similarities between EMBA and MBA programs to consider:

The application requirements for executive MBA programs have a greater emphasis on work experience when compared to traditional MBAs. For example, many EMBA programs require applicants to have between 5-10 years of professional experience in leadership or managerial roles.

Some schools are now cutting down on some application requirements to make it easier for working professionals to apply. The University of New Mexico, for instance, joined a number of other executive MBA programs in dropping GMAT requirements last year.

Additionally, you generally need an undergraduate degree to apply for an executive MBA program. However, some business schools, like the EM Lyon Business School in France, are now accepting qualified students without a degree.

Other requirements might include:

An EMBA is, in general, more expensive than a traditional MBA.

EMBAs have an average price tag of around $94,000, according to the 2023 EMBAC Membership Program Survey. On the other hand, MBA programs usually cost about $62,600.

Keep in mind that this cost is highly variable across schools, and in-person programs at well-known business schools are generally more expensive than degrees from regional public or online universities or fully-online programs.

The two-year EMBA at the Northwestern University Kellogg School of Management, for instance, has a tuition price tag of more than $190,000. Compare that to the EMBA program at Texas Southern University, which costs $36,000 for the entire six-term program.

When considering whether an EMBA is worth the investment, it’s important to note the cost of the program and the substantial return it can offer.

While EMBA programs are costly, their price is generally tied to higher earnings. The average salary and bonus package at the start of an EMBA program was $203,248, according to the Executive MBA Council’s 2024 Student Exit Survey. That figure increased to $243,770 by the end of the program.

An executive MBA is also valuable for the networking opportunities it offers. You’ll collaborate with peers at similar career stages from diverse industries. This can help expand your professional network. For example, some online programs, like Northwestern Kellogg’s online MBA, include in-person residencies to foster connections between students.