Should You Consider an EMBA?
Here is an article by PRN Expert Panel Member and Education Center Guest Editor John C. Chang M.D., M.B.A, titled “It May Be A Great Time to Consider an Executive MBA.”
A recent article from the Wall Street Journal highlights a unique opportunity in the midst of the recessionary woes of the economy. Many physicians contemplating whether to pursue a MBA may find getting in to their top choice school a bit easier this year as a result of a declining applicant pool to the Executive MBA (EMBA) programs. The demographic of the traditional EMBA student body usually consists of a significant proportion of corporate sponsored employees where students’ tuitions are paid by their employers. As a result of the recession, many corporate sponsored education programs have been significantly cut back or curtailed altogether. Just over half of the schools surveyed by the Graduate Management Admission Council mentioned in the article saw applications drop this year, nearly double the number of schools which reported declines last year.
In contrast, standard curriculum MBA programs (also known as “Day” MBAs) have demonstrated the opposite trend with an increasing applicant pool. Given a much younger student demographic in Day MBA programs, recessions have generally stimulated students to seek safe haven in business school as a means to “wait out the economy.”
By the time most physicians contemplate getting a business degree, they find the EBMA offerings to be most attractive given the ability to maintain work while earning the degree. Physicians as a group are an increasing subset of many EMBA program cohorts. So what does all of this mean? For those physicians considering an EMBA to further a well-thought out career goal, this year provides a great opportunity to maximize your chance of getting in to a program of your choice. Many top programs are still accepting applications for January 2010 matriculation.
List of top EMBA programs: http://www.businessweek.com/bschools/rankings/
WSJ article:
http://online.wsj.com/article/SB10001424052970204731804574390841708418348.html
By John C. Chang M.D., M.B.A.
October 25th, 2009 at 6:46 am
Quick question:
Do all of these programs require the GMAT? Or can you get in without it. I shudder at the thought of studying for another standardized test.
October 25th, 2009 at 10:08 pm
Vipul,
Thanks for the great question. As EMBA programs have evolved, many programs have realized that GMATs are not necessarily as strongly linked to student success as once thought for traditional “Day MBA” programs. The admissions committees at many schools also understand the typical EMBA candidate is likely far removed from such standardized testing which often serve as an obstacle to good potential candidates. Instead, admissions committees scrutinize the quality of work/management experience and professional/personal accomplishments to more closely to gauge an applicant’s attractiveness for admission. They will also evaluate previous academic work as a surrogate for GMAT scores.
As a group, physicians are often attractive candidates for EMBA programs. The level of academic acheivement required to get into medical school and pass standardized USMLE and board examinations far exceeds what it takes to score well on a GMAT exam. EMBA committees recognize this, and in some cases will have special exemptions for “higher degree candidates”, in which a written request for a waiver will be granted even in schools that request GMAT for admission. One such example is UNC Kenan Flagler OneMBA global program where they will consider waiving the GMAT requirement after written request.
In the BusinessWeek Ranking list referenced above, many of the elite EMBA programs do not require GMAT. However, GMAT is still a requirement at the Day MBA programs at all of these schools. Out of the top ten ranked EMBA programs acording to the BusinessWeek survey, the following do NOT require GMAT:
Northwestern Univerisity (Kellogg)
Chicago University (Booth)
Univeristy of Michigan (Ross)
USC (Marshall)
Emory University (Goizueta)
Duke University (Fuqua)
Good luck in your application process, and feel free to contact me if you have additional questions.
Best,
John
October 26th, 2009 at 12:40 am
I note with interest the disctinction between ‘day MBA’ and EMBAs. Traditionally EMBAs have essentially had the same content and approach as day MBAs, but run part-time. The University of Sydney, however, has taken a different approach and desgined a very different type of Global Executive MBA that wil commence February next year (applications close November 30 2009).
Our Global Executive MBA has different objectives and therefore format. It focuses very much on leadership development, and starts from the perspective of what leaders should know, be able to do, and be as people. We then constructed a course and content to deliver on this. A traditional (E)MBA usually focuses on core content of the different business disciplines i.e. finance, marketing etc. While our course certainly covers these core areas (very explicitly in module 2, Foundations of Management), we do so from the perspective of the breadth and depth of knowledge a leader should have vs. making someone an expert in a particular field. Our emphasis is also on dealing with this content in an integrated manner rather than as disciplinary silos.
In addition to this knowledge component, our course is very much about creating unique experiences and ‘real life’ learning via the consulting projects you do in the three off-shore locations, for example. Thus its very much learn by doing, and confronting the complexities of real problems (vs. just reading about them in pre-prepared case studies). Our research over the past two years suggests this is very much want our particular target audience is looking for i.e. experienced managed on a leadership trajectory.
Also the structure is part time and more convenient for busy professionals (intensive modules as opposed to weekly night school or full time study).
See more at http://www.firstemba.usyd.edu.au/ or contact me directly.
All the best,
Chris Styles.