In the last few years, worldwide, all the executives interested in enhancing their career have chosen an Executive MBA, which is quite different from MBA for executives.
An Executive MBA is a part time program, which comes in different formats: week-end formula, evening formula or made of five-day concentrations every 3/4 months.
On an average, it is of an 18-20-month length, delivering from 500 to 550 hours of lessons, through a mix of classroom and on-line courses. It is noteworthy that the effectiveness of on-line modules has significantly improved thanks to new and specific methodologies conceived especially by those business schools that have also developed MOOC – Massive Open Online Courses.
Executives, as well as companies, prefer part-time Executive MBA for four main reasons.
- The learning is faster and more effective, as participants immediately apply what they learn in class to their organizations. In turn, the organizations instantly see the benefit of the investment, especially if they sponsor (fully or partially) the tuition fee. Further, they can leverage the new skills and approaches that participants bring from the class.
- It is financially more sustainable, as participants pay as they go and therefore, they can bear the burden of the tuition fee even when the corporate sponsorship is not full.
- It is less risky, as participants retain their job. However, Business Schools take care of their career and the return from the investment, offering dedicated counselling services about how to get the most from the job market opportunities and how to upscale to a global and rewarding career. The Alumni network also acts as a tremendous booster to be in touch with professionals and job opportunities.
- Last but not the least, it is family – friendly. And this is something very important in the Indian context as well as for women who seek to reshape their career after a family break.
By Prof. Veronica Vecchi
MISB Bocconi Executive Education Director