Almost all the applicants explore MBA programs with a hope that the change will bring the necessary satisfaction, happiness, and abundance currently missing in their professional lives. However, being blind to this approach really leaves them weak, and at the mercy of the business schools.
We bring you the most important challenges that Applicants will face to help you prepare better for your journey of pursuing an Executive MBA.
You cannot work and pursue a full-time MBA simultaneously. The Executive MBA program is designed in such a way where it requires you to take at least one year off from work so you can concentrate completely on getting that MBA degree you have always wanted. Considering this you also need to keep in mind that the gap will reflect in your professional experience.
When a 2 year full-time MBA course gets jammed into a one-year Executive MBA course, the curriculum is bound to be exhaustive and rigorous. Moreover, since the course is designed for working professionals, the course work can get overwhelming. With so much to do in a relatively less time period, there is little or no time left to do anything else.
If you are aiming to study at one of the top B-schools in India, just know that it will definitely burn a hole in your savings. An Executive MBA full-time program at these schools costs anywhere between Rs. 14 – 30 lakh. Since it is a full-time course and a student needs to put in a large number of hours into it, with a vast curriculum, the fees are much higher than a part-time MBA course.
Similar to a full-time MBA course, an Executive MBA admission process is complex in nature with the selection process being divided into 2-3 stages. In the first stage, you have to get a really good score in GMAT or an equivalent exam conducted by that particular B-school. The next stage is the Personal Interview round. However, there are some schools that need more than your entrance exam scores. You need to submit either an essay or take a written exam and/or submit your Statement of Purpose (SOP) and Letters of Recommendations from your previous employers. Clearly, the admission is a long drawn out process which might seem a little too much for the Executive MBA aspirants.
Once you complete the Executive MBA program, you can either seek employment in your previous organization itself or you can try another company for a new or similar role. If your MBA was sponsored by your previous organization, it only seems fit to go back there. If you are looking for a change in career, you can do so but the remuneration you receive in most cases will be similar to the one you received before you left to pursue your full-time MBA course. This happens due to the fact that, although you have done really well in your MBA, you do not have any experience post that. This can be considered as a drawback of pursuing a full-time Executive MBA program.