EXECUTIVE MBAs VS. REGULAR MBAs

With more executive MBA programs available, prospective applicants may wonder how these programs stack up against traditional full-time MBA offerings. Jason Price, author of The Executive MBA: An Insider's Guide for Working Professionals in Pursuit of Graduate Business Education, says while EMBA programs were once thought of as sabbaticals from work, now they are more rigorous.

Price, who graduated from an executive MBA program at Fordham University in 2000 and is coordinator of EMBA World -- an organization that assists people interested in executive MBAs -- discussed the two options with The Herald.

Q: What is the advantage of doing an executive MBA program over a traditional MBA program?
A: It's hands-on, more practical than theoretical. You are surrounded by proven, experienced professionals who are bringing those experiences to the classroom. You also get the support of the company, whether it's time or financial.

Q: Is an EMBA program just as rigorous as a traditional MBA program?
A: If anything, it could be considered more rigorous. You are balancing work life with school life.

Q: What are common misconceptions about the executive MBA?
A: One is that you can only be accepted if you get the financial support of the employer. Twenty percent of executive MBA grads are not sponsored; 20 percent are fully sponsored, [60 percent are partially sponsored by employers].
There was a time when it [the EMBA] was looked upon as an excursion or a sabbatical. Back then, in its infancy, it didn't meet the expectations of the EMBA today. It didn't ring or smell of the rigors of a traditional MBA. That has changed. The EMBA is an MBA. It is a rigorous program.

Q: If your employer won't subsidize the cost of the program, should you still apply for it?
A: If the employer is not willing to pay for it, that should not be the reason not to get your MBA. The average cost is around $47,000. It's basically treated as a 30-year loan, and student loans have lower interest.

Q: Is Kellogg's decision to start an executive MBA program in Miami a smart one?
A: The school has got a great reputation. So showing up in a territory will garner attention for all the right reasons. A lot of schools are branching out. They have the brand, the global clout, the markets are asking for it. The EMBA nicely appeals to and fits the growing need. We are a part of the middle-manager squeeze. We are all expected to work harder and faster for the same salary grade. Education is a key component. For many people, dropping out of the workforce is simply not an option. They have a family, they have a mortgage, they want to climb up the corporate ladder.