Top 10 Executive MBA institutes in the world and India

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India is home to several top class executive MBA colleges

In the rush of everyday life, professionals in each sector always aspire to climb the proverbial ladder of success. For most lines of professions, a MBA degree has become a direct path to reaching this goal.

Hamid, a 24 years-old IT engineer in Bangalore, is thinking along similar lines. ‘I wanted to do an MBA after graduation itself, but the offer I got during campus placements was simply tempting to turn down. I've been thinking of taking a break from professional life to complete my post-graduation.

Many engineers and management professionals face the same dilemma while working. The lure of doing an MBA is understandable and so is the risk of leaving a well-paying job. Hamid concedes he feels perplexed by the choices in front of him.

Most of superiors tell me to continue working and forget about MBA. In a way, they are right. What I have right now is real and tangible. Should I really chase after something which wouldn't push my career as far as I think it would?

This dilemma isn't alien to Hamid only. Many professionals develop cold feet over the prospect of leaving their jobs to return to college again. Besides the associated risks, many feel the perks which come with an MBA are only viable if the college of graduation is amongst the best in the business.

Making it to the IIMs is a feat requiring monumental dedication. To take a risk predicated purely on IIM admission is nothing but naivety. It's the same case with other top colleges besides IIMs as well. Why should I risk three years of hard work for something too difficult to achieve?

One cannot argue with Hamid's logic. Going by pure statistics, his chances of making it to the IIMs are very slim to being with. Why should he or anyone risk a well-paying job for an improbable target?

To aid professionals with this problem, many business schools have come up with new courses called ‘Executive MBAs

Executive MBA

What is executive MBA?

The clues lie in the name itself. An MBA course specifically drafted for working professionals only is essentially an Executive MBA. The classes of an executive MBA or EMBA are held during weekends and evenings. Besides classroom sessions, e-learning tools such as online tutorials are also ingratiated into the course structure.

One of the key benefits of doing an EMBA is the chance to apply recently learned concepts directly into a professional working paradigm. While regular MBA graduates take some time before applying their skill sets in professional life, EMBA students are able to apply concepts instantaneously into their work life.

There is lot debate amongst students over which is better in the long run - MBA or Executive MBA? While MBA unarguably offers a more holistic experience of graduate school and management studies, an EMBA is has its own area of benefits as well.

The key differences between the two courses have been highlighted below.

Factors

Masters of Business Administration (MBA)

Executive Masters of Business Administration (EMBA)

Fundamentals

Two year programme which doesn’t pre requisite any work experience

Two year programme which usually requires at least five years of work experience

Average age of students

22-26

32-38

Scheduling

Full time intensive classroom teaching. Practically impossible to work simultaneously

Designed to accommodate day jobs. Classes are conducted at a faster rate compared to normal MBA students

Monetary differences

The cost of an MBA is usually borne by the students themselves

The company usually picks up the tab for tuition fee at the given college. Besides, students continue to earn from their regular day-jobs

Location

Freedom to attend any B-school

Restricted to areas near to the job location

Top colleges for Executive MBA in India

In a country where people value job security over many other factors, EMBA is slowly becoming a popular course amongst professionals across all sectors. From the IT and computing sector to manufacturing and communications, the need for management professionals is ever-present.

For this very reason, the demand for EMBA is expected to reach full throttle over the next few years. With the high number of MBA colleges in India, there is always a fear of ending up at the wrong colleges. Top 10 colleges for executive MBA in India are listed below.

1. Indian Institute of Management Ahmedabad (IIM –A)

One simply doesn't leave IIM-A out of a rankings list for top B-schools.

The crown jewel of India's B-schools, IIM-A needs no introduction for being one of the best management schools in India and Asia. Consistently ranked amongst the world’s best, it is no surprise that IIM-A also provides a top-draw EMA programme as well.

IIM-A ranks above other Indian B-schools in the EMBA rankings. The Post Graduate Programme for Executives (PGP-X) was introduced back in 2006 to open more avenues for working professionals in the industry. This course 11 years later has become one of the most coveted executive courses offered in Asia. The IIM –A PGPX programme was ranked number 1 for opening new career opportunities for its graduates by The Economist and number 1 for career growth by the Financial Times in 2015.

Some key features of the PGPX programme are:

Duration

One year

Type of course

Residential

Qualifying exam

GMAT/GRE

Minimum experience

4 years

Minimum age

27

Fees

Rs. 24, 50,000/-

Certification type

Diploma

GMAT Cutoff

700 (approx)


2. Indian School of Business (ISB) Hyderabad

One of the top private B-schools in the country, ISB stands toe to toe with IIMs with regards to executive management programmes. The PGPpro is essentially an executive MBA equivalent, designed specifically for candidates with a rich vein of professional experience and a deep understanding of their respective line of work.

The programme is conducted by top faculties at ISB and other partnering schools. This is to ensure they meet the standard of professionals with five-odd years of experience. Focus of qualitative aspects such as leadership, team work and synergy is essential to the crux of the programme.

Besides classroom learning, the programme takes students on international ‘immersions’, which effectively translates to getting exposure to management techniques outside India. These ‘immersions’ usually take students to USA and China.

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ISB Hyderabad is one of India’s top private B-schools offering a world-class executive MBA programme

Some of the key highlights of PGPpro are tabulated below.

Course Duration

15 months

Course type

Non-residential

Qualifying exam

Application-based process. No exam required although good GMAT or CAT score is beneficial. There is a separate PI round for final selection based on academic and professional factors

Application fee

Rs. 5000/- (Rs. 7500/- for late submission)

Minimum experience

5-12 years

Certification type

Diploma

Course fees

Rs. 33,70,800/-

   

3. Indian Institute of Management Bangalore (IIM-B)

The Executive Post Graduate programme (EPGP) at IIM-B is one of the most renowned executive courses in India. Tailor-made for working professionals with atleast five years of working experience, the EPGP essentially covers the same brass tacks as a normal 2-year MBA.

In the subservient financial climate we currently live in, companies are in dire need of well qualified mid-level professionals to deal with the rigors of modern-day professional life and simultaneously take up leadership roles in the companies itself.

The EPGP programme tries to focus on these very demands. Honing leadership potential and encouraging cross platform synergy is merely a few highlights of the well endowed EPGP programme at IIM-B.

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Experience of EMBA students at IIM-B

Some of the key highlights of the EPGP programme are tabled below.

Duration

One year

Course type

Residential

Qualifying exam

Valid score in GMAT/GRE. Admission is granted on the basis of numerous factors, exam score being one of them

Average GMAT cutoff

709

Minimum work experience

6 years

Fees

Rs. 22,77,500/-

Certification type

Diploma


4. Indian Institute of Management Calcutta (IIM-C)

IIM-C offers the Post Graduate Programme for Executives (PGPEX) in unison with other IIMs offering specialized courses for mid-career professionals.

The PGPEX is catered specially for working professionals looking to gain further insight over the metric and holistic factors affecting the management sector. Like the PGDM course is known to be more industry-oriented than normal MBA courses, PGPEX takes it to another level.

International learning trips to the US and Europe are meant to widen the horizon of professionals towards the working of industries outside India. Besides these factors, IIM-C promises the same curriculum excellence it exhibits with regular PGDM courses. For selection to the PGPEX course, IIM-C mandates reference letter for the candidate along with other documents such as a Statement of Purpose (SoP), GMAT score and nature of professional experience.

Duration

One year

Course type

Residential

Qualifying exam

GMAT/GRE scores

Minimum work experience

5 years

Course fees

Rs. 22,00,000/-

Average GMAT score

685

Certification

Diploma


5. Xavier School Of Management Jamshedpur (XLRI)

XLRI is one of the most revered B-schools in India. One of the key factors behind this flawless reputation has been its inclination to teach mid-career professionals with a concise knowledge of modern day workings of industries.

The Post Graduate Diploma in Management in Genera Management (PGDM GM) is one of its most illustrious courses. Open only to candidates working in the industry, the GMP course aims to turn working professionals into industry leaders and experts by inculcating invaluable management skills and tact.

The programme is accredited by all necessary bodies such as AICTE and AMBA. Often considered an equivalent to an executive MBA, the course structure of the GMP programme is no different from a regular MBA.

Duration

15 months

Course type

Residential

Qualifying exam

GMAT/XAT scores

Minimum work experience

5 years

Course fees

Rs. 17,50,000/-

Average GMAT score

682

XAT cutoff (2018)

22+

Certification

Diploma


6. Indian Institute of Management Lucknow (IIM-L)

IIM Lucknow is counted amongst the elite IIMs in India. It has extended the same air of reputation to its extension centre in Noida. One of the key highlights of the Noida centre is the International Programme of Management for Executives (IPMX).

This programme aims to develop present industry professionals into future leaders and stakeholders. With prime focus on understanding the strategic aspects of business, IPMX aims to imbibe practical skill development through projects and industrial visits. Its proximity to the national capital places it at the unique focal point of commerce and trade in the country.

One of the key goals of IPMX is sensitizing students to the cultural diversity of the country and developing analytical skills to use this diversity.

Duration

One year

Course type

Residential

Qualifying exam

GMAT score along with other necessities such as SoP, letters of recommendations and professional overview

Minimum work experience

5 years

Course fees

Rs. 24,50,000/-

Average GMAT score

680

Certification

Diploma


7. Faculty of Management Studies (FMS), Delhi

Affiliated to Delhi University, FMS is one of the few colleges on this list who can officially offer a degree programme to students. The EMBA (Executive Masters of Business Administration) is a course specifically designed for working professionals.

The classes for EMBA course are scheduled during weekdays in the evening. Candidates are selected along the following procedure:

a) Filling of application form

Details such as professional experience, graduation certificate and reference letter have to be provided

b) FMS General Ability Test

Candidates have to clear this test to be shortlisted for next round

c) Personal Interview

The final round comprises of an interview round which is proceeded with the final admissions list

8. Indian Institute of Management Kozhikode (IIM-K)

IIM-K was the first IIM to envision executive PGP programmes back in 2001. The EPGP offered at IIM-K embodies the true nature of modern e-learning. The EPGP course is pivoted around the Interactive Learning (IL) module, a video based teaching setup where faculties give lectures from IIM-K Studios. These programmes are made available through a platform developed by HUGHES Global Education.

There are some in-campus modules which have to be attended by the enrolled students as well. There are a number of EPGP courses students can apply for. Besides the two year EPGP, there are several one year EPGP courses in finance, human resource, IT etc.


Some key details of the two year EPGP are given below

Duration

Two years

Course type

Some modules are residential

Qualifying exam

EMAT and PI round/GMAT/CAT

Minimum work experience

3 years

Course fees

Rs. 10,00,000/-

Average GMAT score

650

CAT eligibility

> 75% percentile

Certification

Diploma

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IIM Kozhikode is one of the new IIMs making strides to become the ‘next’ top B-school in India


9. Indian Institute of Foreign Trade New Delhi (IIFT)

The IIFT offers the Executive Post Graduate Diploma in International Business (EPGDIB). The programme is set up for business professionals at the crossroads of their career.

This course deals specifically with people interested in understanding the macro level flow of business. Many people working in investment firms and M&A consider this course as a springboard for job growth and progress.

Admissions to this programme are done through three rounds, GD, essay writing and personal interview.

Duration

18 months

Course type

Residential

Qualifying exam

None

Minimum work experience

5 years

Course fees

Rs. 3,50,000/-

Certification

Diploma


10. Indian Institute of Management Indore (IIM-I)

One of the rising IIMs, IIM Indore has grown immensely since its inception in under the tutelage of IIM-A. Instituted back in 1996 along with IIM-K, Indore has seen a spectacular rise in stature over the past few years. Ranked 10th in B-school rankings conducted by NIRF, IIM-I is slated to break through the elite IIMs bracket and become a top management school.

The Executive Post Graduate Programme (EPGP) offered at IIM-I is a one year residential course positioned specifically for working professionals across various industries.

Duration

One year

Course type

Residential

Qualifying exam

GMAT/GRE scores

Minimum work experience

5 years

Course fees

Rs. 22,00,000/-

Average GMAT score

570

Certification

Diploma

Top 10 institutes for Executive MBAs in the world

Though India has some great institutions for management studies, the quality of programmes offered at some of the world’s best B-schools is simply on another level. Top ten colleges for executive MBA in the world are given below.

1. Kellogg School of Management

Ranked number for EMBA eight times by the Financial Times, Kellogg-HKUST Business School has been doing a lot of things right. With over eight campuses around the world, Kellogg-HKUST has gained wide acceptance and clamor amongst management aspirants around the world.

Some important information regarding the EMBA programme is in the table below.

Duration

22 months

Qualifying exam

No exam. Admissions based on application

Minimum work experience

10 years

Course fees

$163,700/-

Certification

Degree

Average age of students

39

Average work experience

16

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Kellogg is known around the world especially for its executive MBA programme


2. IE Business School, Madrid

Ranked number one by The Economist for Executive MBA institutions, IE Business School offers a top-draw Executive MBA programme in partnership with UCLA, Singapore Management University (SMU) and Insper Institute.

IE Business School promotes a leadership driven approach to its EMBA programme. Known as the Global Executive MBA, the programme tries to instill a holistic view of management which encourages taking on leadership roles and synergy-based projects.

Some key details of the Global Executive MBA are listed below.

Duration

13 months

Qualifying exam

No exam necessary

Minimum work experience

10 years

Minimum managerial experience

5 years

Application fee

€125

Certification

Degree

Course fees

€72,200/-


3. SaidBusiness School – University of Oxford

Coveted by most EMBA aspirants around the globe, SaïdBusiness School is one of the world’s most revered management schools. Known extensively for its EMBA programme, SaïdBusiness School has built a name for itself in the financial sector as being the very pinnacle of modern day management studies.

Ranked second by The Economist in the ranking for top EMBA colleges in the world, Saïdoffers a concise and solid executive MBA programme.

Some of the details of the programme are given below.

Duration

21 months

Qualifying exam

No exam necessary

Minimum work experience

5 years

Qualifying exam (for <10 years work experience)

GMAT and IELTS/TOEFL

Application fee

€125

Certification

Degree

Course fees

€72,200/-

GMAT cutoff

720


4. INSEAD Business School

Amongst the best business schools in Asia, INSEAD Business School is often rated highly in management circles as a top-notch institute for management studies. Known widely for its holistic Executive MBA program, INSEAD focuses primarily on leadership development by building skills in corporate strategy, business analytics, accounting, managerial economics and services management.

Some of the key details before seeking admission to INSEAD for EMBA are given below.

Duration

14-17 months

Qualifying exam

INSEAD GEMBA/GMAT and IELTS/TOEFL

Average work experience

13 years

Average managerial experience

3 years

Application fee

€250 (for application) and €185 (for GEMBA)

Certification

Degree

Course fees

€119,000/- in two installments for company sponsored and in four installments for self-financed

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INSEAD is one of the most recognized names in education with three integrated campuses in the world

5. Wharton Business School

Wharton Business School is a management institute operating under the University of Pennsylvania. Its MBA programme for executives is renowned around the country as a marvel for working professionals from various industries.

Wharton conducts admissions based upon the applications it receives followed by the interview and essay round. Some of the key features of the Executive MBA courses offered at Wharton are specified in the table below.

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Wharton is amongst the world’s best B-schools housing the greatest management talent in the world as well

Duration

13 months

Qualifying exam

TOEFL/IELTS

Average GMAT score

700

Minimum work experience

10 years

Minimum managerial experience

5 years

Certification

Degree

Course fees

$198,600/-

6. Booth School of Business, Chicago

Affiliated to the University of Chicago, Booth School of Business is a global leader in management studies around the globe. Many high earning professionals seek admission to the Booth School of Business for its illusive Executive MBA programme.

Some of the details of the EMBA programme offered at Booth are tabled below.

Duration

21 months

Qualifying exam

IELTS/TOEFL and GMAT

Minimum work experience

10 years

Average managerial experience

8 years

Certification

Degree

Course fees

$174,000/-

7. Yale School of Management

Yale University is often set as a prime standard for any renowned educational institution. One of its affiliates, the Yale School of Management offers an executive MBA programme for working professionals across various lines of work.

With intake standing merely at an average of 55 every year, Yale in a one of a kind experience which no student or professional should pass up on.

Some details of the programme offered at Yale are given below.

Duration

22 months

Qualifying exam

IELTS/TOEFL and GMAT

Average work experience

11 years

Average managerial experience

7 years

Certification

Degree

Course fees

$159,000/-

8. Colombia Business School, New York

Located in the capital of the world, Colombia has been home to many illustrious politicians, business professionals, lawyers and teachers. The executive MBA programme offered at Colombia is placed perfectly for many executives looking to take the next step in their careers.

The application process at Colombia for the executive MBA programme is very selective and arduous. With Wall Street only a few miles away from the campus, the EMBA programme is never short on applicants either.

Some of the details of the EMBA programme are given below.

Duration

20 months

Qualifying exam

IELTS/TOEFL and GMAT/GRE

Minimum work experience

5 years

Average work experience

9 years

Average managerial experience

3 years

Essays for admission

3

Interview

Compulsory

Certification

Degree

Course fees

$182,280/-

9. Harvard Business School, Boston

The most prominent educational institution in the world, Harvard University is the dream of every aspiring student who wishes to learn and be amongst the best in the world. Eccentric to its core, Harvard has its own version of an executive MBA.

The Program for Leadership Development (PLD) is Harvard’s own version of an executive MBA. Aimed at teaching specific skills to promising mid-career professionals, the PLD is under the executive education branch of Harvard.

Unlike other EMBA admissions, Harvard doesn’t consider exam scores and essays. Only a reference letter from your employer or colleague is enough for the Admissions Committee at Harvard.

10. European School of Management and Technology, Berlin

Ranked 8 in the world for EMBA by The Economist, ESMT is amongst the best institutions in Germany and Europe. The executive MBA programme is tailor-made to snuff out managerial talent in the industry and prepare it for future leadership roles.

Located in Berlin, ESMT offers the chance to executives from all lines of work to learn invaluable managerial skills and tactics which help in propelling one’s career. Some of the details of the programme are mentioned below.

Duration

18 months

Qualifying exam

GMAT/GRE

Average work experience

13 years

Average managerial experience

8 years

Certification

Degree

Course fees

€57,500/-

Difference between distance learning MBA and EMBA

Many students in India and around the world get confused between executive MBA and distance learning MBAs. Difference between distance learning MBA and Executive MBA are:

Factor

Distance learning MBA

Executive MBA

Fundamental

Doesn’t require candidates to have professional experience

Most colleges demand atleast 5 years of professional experience

Curriculum

Similar to regular MBA

Much more skill based and industry driven

Focus

To impart key theoretical aspects of management

To impart practical aspects of management

Course duration

2 years

1-1.5 years

Scheduling

Regular weekday classroom-based learning

Weekend or evening classroom-based learning

Industry value

Distance learning MBA is less preferred to regular MBA

Executive MBAs are more preferred to distance learning MBA

Fees

Lower than regular MBA

Higher than regular MBA due to teaching of a niche skills and tactics


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