A GUIDE TO THE EXECUTIVE MBA “Is an EMBA right for me?”
Table of Contents “What is an Executive MBA?”................................................................................ 1 “Do I need to be an ‘executive’ before I enter the program?”.......................... 1 “How do Executive MBA programs differ from other MBA programs?”...... 2 “Is the accreditation of an Executive MBA program important?”.................. 3 “What are the benefits of an Executive MBA?”.................................................. 4 “How can an Executive MBA help me achieve my goals?”............................. 6 “Who is a good candidate for an Executive MBA?”.......................................... 8 “How can I fit this program into my busy schedule?”................................... 10 “What support will I need from my employer?”.............................................. 12 “How much will it cost?”..................................................................................... 13 “How competitive is the admissions process?”............................................. 14 “Is an Executive MBA right for me?”................................................................. 15 “Where can I get more information?”............................................................... 17
Content for this guide comes from research provided by the University of Washington Foster School of Business, the Executive MBA Council, and the Graduate Management Admission Council (GMAC). The David Eccles School of Business gratefully acknowledges these organizations.
53% Salary Increase
Top 20 in the U.S.
For Utah’s EMBA students within three years of graduation
Utah’s EMBA program was ranked #20 in the U.S. by the Financial Times
“What is an Executive MBA?” The Executive MBA is a specific type of accredited MBA program designed for working managers and professionals, typically with over ten years of work experience and often with prior management responsibility. The program’s class schedule allows students to continue working while they pursue the degree — in fact, the expectation is that they will remain employed in a position that will enable them to apply what they are learning while they are in the program. Students bring their current and prior experience into the classroom to enrich the learning experience of their peers.
“Do I need to be an ‘executive’ before I enter the program?” Actually, no! Although at least six years of work experience is required to apply and many students are often entrepreneurs, small business owners, and C-level executives, aspiring mid and senior-level managers often account for most of the class. If you are a subject matter expert, considered a “go-to” person on your team or within your division, or can influence decisions now and want to be a participant in strategic conversations affecting your organization’s future, the EMBA is for you.
The University of Utah offers four MBA program options: Full-time, Professional, Online, and Executive. The Executive MBA program’s format, curriculum, network, support, services, and more are specifically designed to maximize the MBA experience for experienced, seasoned professionals.
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“How do Executive MBA programs differ from other MBA programs?” Executive MBA programs generally differ from other kinds of MBA programs in the following ways: •
EMBA students continue to work while they study, are generally older, and have an average of 14-16 years of work experience.
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EMBA classes are often held for the full day on Fridays and Saturdays and require time away from work. The program emphasizes applied learning, leadership skills development, and a global mindset.
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The program requires in-person participation in classroom discussions, which is considered critical to the learning experience.
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EMBA students enter as a group (cohort) and stay together throughout the program.
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Our program offers additional support for students, including registration, acquiring textbooks and materials, meals, and other amenities so that students can focus on learning.
The University of Utah’s EMBA program is made up of driven professionals averaging 14-16 years of fulltime work experience in various roles and industries. Entrepreneurs, physicians, programmers, marketers, attorneys, and workers from almost every other industry in between come together to form a unique 2
and dynamic network.
“Is the accreditation of an Executive MBA program important?” In the U.S., accreditation by the Association to Advance Collegiate Schools of Business (AACSB International) is the gold standard. This association accredits graduate and undergraduate programs in business administration and accountancy. The standards for achieving this accreditation are very high. In Europe, the EFMD’s EQUIS accreditation (European Foundation for Management Development’s Quality Improvement System) is better known. AACSB accreditation ensures that a business school has established a clear and relevant mission, manages its resources well, and advances knowledge through faculty scholarship. Accreditation also certifies the quality of teaching and curricula and shows that faculty and students interact well. Lastly, it guarantees that graduates have achieved specific learning goals. Membership in the AACSB is not equivalent to accreditation - the organization accredits 85% of the business schools that are members of the AACSB. Only accredited schools have met the standards of quality established by AACSB.
Utah’s EMBA is AACSB accredited and recognized as one of the best programs of its kind in the world by the Financial Times (2023): - #1 in Utah - #3 in the West - #20 in the U.S.
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“What are the benefits of an Executive MBA?” Access to a business school’s top faculty Executive MBA students are the most knowledgeable and demanding audience that a business school professor will face in the classroom. Business schools select their best faculty to teach in these programs. Often the faculty members selected to teach in these programs will also have extensive real-world consulting experience. An outstanding peer group You’ll learn as much from the experience and insights of other Executive MBA students as you do from the faculty, and you’ll be expected to contribute at the same level. Executive perspective Executive MBA programs help students look at business problems and opportunities from a leadership perspective. You’ll become knowledgeable about key business disciplines, integrating this knowledge with your prior background and experience.
Utah’s EMBA delivers a high-level general management curriculum with a global focus. EMBA students travel abroad for their second intensive week and the final session of their program. Previous EMBA cohorts have visited Argentina, Chile, China, the Czech Republic, 4
Germany, Italy, Japan, Switzerland, India, and more.
Collaborative learning Executive MBA programs focus on collaboration rather than competition. In the classroom and study groups, you’ll test your team-building skills and learn to rely on others to help you succeed. Successful Executive MBA students share responsibilities and take advantage of each other’s experience and knowledge for mutual benefit — an invaluable skill that can be utilized immediately in the workplace. Immediate applicability The content you learn in class can be utilized during your next day at work. There are opportunities to design projects based on real problems you may be facing at the workplace, test a solution out with your classmates, and let your ideas unfold. Applying the knowledge you gain in the classroom can have a quick and positive impact on your job performance. Increased confidence An Executive MBA program will help you learn the language of business and give you a firm grounding in the fundamentals of its various disciplines. Beyond that, an Executive MBA program provides you with a strategic perspective, allowing you to view your organization and its environment from a 360-degree viewpoint. It will also help you develop leadership skills to support your career growth and prepare you for executive responsibilities.
Beyond the classroom, the Executive MBA program organizes after-class socials, official family events, and casual gatherings. Most of our alumni stay deeply connected after graduating, and many still meet regularly with their EMBA study groups. 5
“How can an Executive MBA help me achieve my goals?” Those pursuing an MBA at mid-career typically seek education and credentials as a springboard to a career transition. Here are some typical transition scenarios: From functional manager to general manager or executive Most people who eventually move into top management start their careers by developing expertise in a specific field, relying on a knowledge base and skill set that is narrow and deep. As their careers evolve, they may find themselves gravitating toward leadership positions for which their prior education and experience have not prepared them. If you haven’t already earned an MBA degree by mid-career, an Executive MBA can help ground you in the fundamentals of business while building on the knowledge and experience you’ve accumulated to date. From manager to entrepreneur Today, there is plenty of room for entrepreneurs both outside and inside the corporate environment. If you’re an experienced manager
The University of Utah Executive MBA Career Advancement Center helps maximize the return on investment for your MBA. Executive career coaches work with students from day one onwards to develop leadership skills, advance careers to the executive 6
level and explore entrepreneurial opportunities.
with deep knowledge of a specific field or industry and have the drive to start your own business, an Executive MBA can prepare you to make your dream a reality. On the other hand, the ability to innovate, take a new idea or technology, and build a successful business around it is highly valued in the corporate environment. Many Executive MBA graduates become successful intrapreneurs within larger organizations. From one company or industry to another Broadening your knowledge and polishing your skills in an Executive MBA program can increase the range of career options available to you. An EMBA program offers broad exposure to the issues faced by leaders in many companies and industries. This background can prove useful in understanding your customers and your competition and help you learn about opportunities with other employers. In addition, you’ll build a new set of business contacts among other students and alumni of the program, who typically keep each other informed about new career opportunities within their companies and industries.
Utah’s EMBA students report the following in regards to career impact: 43% received new job responsibilities 35% were promoted during the program 28% average salary increase by time of graduation 53% average salary increase three years after graduation 7
“Who is a good candidate for an Executive MBA?” Educational background The educational background of successful Executive MBA students varies widely. All students have earned a bachelor’s degree in some field. Some have earned graduate or professional degrees in fields other than business administration, such as engineering, computer science, law, or medicine. Professional experience Because the Executive MBA relies heavily on the experience of students enrolled in the program, prior work history is an important factor in the admissions process. A record of professional achievement is a good indicator of your ability to succeed in an Executive MBA program. Current position, organizational support Executive MBA students benefit most if they are in a position to immediately apply the knowledge and skills they develop in the classroom. Unless they’re self-employed, students are required to obtain the support of their employer in one form or another.
Utah’s EMBA program has a target size of 50-60 students per year, and admission is competitive. Six years of significant, full-time work experience is required. The GMAT examination is waived in most cases depending on an individual’s undergraduate GPA, graduate GPA, and work experience. 8
Career goals It’s important to define how you expect to use the knowledge and skills you’ll develop in an Executive MBA program. Are there specific job opportunities within your company or industry that it would help you qualify for? Do you plan to start your own business? Understanding how an Executive MBA will help you achieve your specific goals will give you confidence in committing to a rigorous program and position you as a successful candidate for admission. Motivation and temperament Executive MBA students possess energy, drive, and ambition that separate them from the pack. A high percentage of Executive MBA students are hard-driving, take-charge “Type A” personalities. However, people with creative and thoughtful “Type B” personalities can also succeed in these programs by drawing on their experience and distinctive strengths.
Applications are accepted through early August. If you would like to receive priority consideration, we encourage you to apply as early as possible. Applications are reviewed, and decisions are given on a monthly rolling basis. Applications received after the class is full will be considered for the waitlist and/or for next year. 9
“How can I fit this program into my busy schedule?” Executive MBA programs are designed to allow students to remain productive and perform at a high level on the job while engaging in a rigorous curriculum. This is accomplished in several ways: •
Class schedules are typically set to require some “release time” from the employer and weekend or evening hours from the student.
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Some course content and study group meetings may be conducted online to allow students to progress in their studies and interact with each other and instructors at the most convenient times.
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Projects may be assigned to study groups to divide responsibilities and delegate tasks to individual members.
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The program staff assumes responsibility for the routine and administrative tasks that normally fall to students, including registration and distribution of textbooks and other class materials.
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Meals and other amenities are included as part of the program fees.
During Utah’s EMBA program, students continue to work full-time while enhancing their day-to-day performance. The entire 21-month schedule is planned out before the program begins, allowing students to plan work, travel, and personal commitments far in advance. Classes meet 8:30 a.m. to 4:30 p.m. on 10
Friday and Saturday, every two weeks.
Nevertheless, a worthwhile Executive MBA program will demand a significant amount of time and effort from each student. Students - who already tend to put in more than forty hours a week on the job dedicate up to fifteen to twenty hours a week to their studies outside the classroom. Many reports that the experience forces them to become highly efficient in managing their time, which is an important skill they develop during the program. If you enroll in an Executive MBA program, you will have to manage the impact on both your job and your personal life. You can manage the impact on your work by setting clear expectations about your schedule with your supervisor and colleagues, and enabling those around you to take on more by delegating some of your responsibilities. Managing the impact on your personal life often means routinely setting aside blocks of time for individual study and meetings (real or virtual) with your study group. Students find that it’s possible to maintain an active and satisfying family life while enrolled in an Executive MBA program.
University of Utah Executive MBA students make a substantial time commitment to the program, averaging 15 to 20 hours a week outside of class on a combination of team and individual projects. Our staff is committed to streamlining all outside administrative concerns to allow students to focus on their education. 11
“What support will I need from my employer?” Most Executive MBA programs require that applicants obtain an explicit statement of support from their employer as a condition of admission. Your employer must agree to release time to allow you to participate in classes during the work week. Some employers also provide financial support to cover all or part of the cost of the program. The extent of the financial commitment, if any, is a decision left to you and your employer. An organization’s tuition reimbursement plans or education allowances can cover a portion of the tuition. In other cases, employers will make special arrangements to cover all or some of the program costs as part of a compensation package, professional development plan or executive succession plan. In other cases, employers will make special arrangements to cover all or some of the program costs as part of a compensation package, professional development plan, or executive succession plan.
Your direct supervisor must submit a nomination form and letter of recommendation for your University of Utah Executive MBA application. They must acknowledge the program’s time/schedule requirements and indicate their willingness to support 12
the applicant in meeting these expectations.
“How much will it cost?”
Executive MBA program tuition and fees vary widely depending on the program’s location, program features, reputation, quality of faculty, and other factors. The cost of Executive MBA programs worldwide ranges from less than $50,000 to over $220,000. Often the price tag of an Executive MBA program will cover some meals, textbooks and other materials, international trip expenses, and certain amenities. For people who pay all or part of the tuition and fees out of their pocket, an Executive MBA program is a major investment. In the U.S., most students are eligible for low-interest government-subsidized loans and other financial aid programs. Many Executive MBA programs also offer a variety of payment plans. Ask the staff at the programs you’re exploring about financial options available for students.
The total cost of the Executive MBA program for the Class of 2026 (beginning August 2024) is expected to be $93,000 to $96,000. Tuition covers three intensive weeks (airfare excluded), two international trips, technology, networking events, textbooks, class day day meals, administrative services, and more.
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“How competitive is the admission process?” Executive MBA admissions staff makes a concerted effort to advise prospective students and help them “self-select” before applying for admission. Program staff can help you assess whether or not you are prepared for the program and can expect to benefit from it at this point in your career. In evaluating candidates, admission committees consider many factors: work experience, current employment, prior education, leadership potential, and ability to contribute. You will most likely be asked to submit an application that includes a short essay, academic transcripts, letters of recommendation, and a statement of support from your employer. Many Executive MBA programs do not require any standardized test scores. Take advantage of opportunities to talk with program staff, arrange informational interviews, visit the classroom and seek out students or alumni for their insights. Take time to investigate a program thoroughly, talk with those whose advice you value (including family members), and evaluate whether it’s a good fit for you at this stage in your career. If you’ve done your homework before you apply, you’re more likely to make a favorable impression on the program’s admissions committee.
The University of Utah Executive MBA program application can be completed online at ApplyUtahMBA.com. Requirements include college transcripts, essay, resume, nomination form/letter of recommendation and interview. 14
“Is an Executive MBA right for me?” There are many MBA program options for working managers and professionals, including evening programs, weekend programs, distance learning programs, and customized MBA programs offered by some corporations to their managers in-house. Total enrollment in these programs now exceeds enrollment in traditional full-time MBA programs by a wide margin. Among all these options, the best Executive MBA programs are now setting the standard for MBA degrees in general. While full-time programs mainly enroll students at an early stage of their careers, Executive MBA programs enroll experienced men and women with a proven track record and demonstrated leadership potential. In turn, faculty who teach in Executive MBA programs face their most challenging audience: students who are already deeply engaged in their careers and will quickly test the theories and concepts they learn in the classroom in the laboratories of their organizations. As leadership and strategic thinking become ever more critical to success in every type of enterprise, the value of earning an Executive MBA at midcareer continues to grow.
Utah EMBA graduates report an average three-year payback period for their degree.
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Here are some recent trends that underline the value of the Executive MBA, drawn from surveys conducted by the Executive MBA Council and Graduate Management Admissions Council: Programs now offer more career services As financial support from employers of Executive MBA students has tightened and more students finance their education, career services have become an increasingly important program component. EMBA students are provided a range of career services, including career counseling, insights on writing a resume and conducting informational interviews, workshops and seminars, and leadership and personality testing. Organizations and students experience a faster return on investment An EMBA Council survey of graduating students in 2019 revealed that 40% expected a promotion upon graduation. The mean increase in salary between entering and graduating from the program is 13.5%. Students satisfaction is high Recent graduates regard their Executive MBA experience highly in terms of performance, value, and quality. In fact, according to the Graduate Management Admissions Council, 96% report that their EMBA experience was “good to outstanding” - the highest satisfaction rate among all MBA program types.
The net promoter score (NPS) for Utah’s EMBA is comparable to the scores of industry leaders like Apple, Costco, and Nordstrom. This NPS score is calculated based on responses to a single question: How likely is it that you would recommend us to a friend or colleague? 16
The best Executive MBA programs now match the quality and rigor of their full-time MBA cousins - but attract more seasoned and experienced students, who are capable of adding greater value to each other’s education. Earning an MBA at mid-career has gained acceptance as a more common model for graduate education, and Executive MBA programs have demonstrated their leadership in the marketplace. There is ample evidence to suggest that, at least for mid-career professionals, the Executive MBA is, in fact, the right offering at the right time.
“Where can I get more information?” For more information about the value of an Executive MBA, programs options, and more, visit: Executive MBA Council | www.emba.org Graduate Management Admissions Council (GMAC) | www.mba.com The following business publications rank Executive MBA programs: The Financial Times | www.ft.com U.S. News & World Report | www.usnews.com The Economist | www.economist.com Ivy Exec | www.ivyexec.com
The University of Utah’s Executive MBA invites you to discover if our program is right for you. Attend an admissions event, submit your resume for review, schedule a class day visit, or simply reach out to an advisor today. Take these next steps at EMBA.Eccles.Utah.edu.
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THE University of Utah David Eccles School of Business Executive MBA Program 1731 E. Campus Center Drive Robert H. and Katharine B. Garff Building, Suite 4400 Salt Lake City, UT 84112 801-581-5577 | EMBA@Utah.edu | EMBA.Eccles.Utah.edu
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