Is An Executive MBA Worth It?
Executive MBA students hone the skills needed at the highest levels of management. But with tuition often costing hundreds of thousands of dollars, is an Executive MBA worth it?
Executive MBA programs are where experienced professionals with c-suite or executive-level aspirations go to take their next career step.
EMBAs are aimed at business professionals with higher levels of experience than MBA candidates. EMBA students complete their studies alongside their work, with courses taking place part-time and taught during evenings or weekends, usually over several years.
EMBA courses focus on developing the skills needed for those working at executive level, and many EMBA graduates receive promotions and salary increases on completing the course.
There are more than 300 EMBA courses to choose from across more than 30 countries worldwide. But with tuition fees rising as high as $213,000, is an Executive MBA worth it?
Executive MBA Cost
A place on an EMBA can require significant investment. The average total cost for programs globally is $82,883, however the average Executive MBA fees among the Financial Times' top five programs are $141,151.
Some of the most expensive programs are those offered through partnerships between prestigious global business schools. The Tsinghua–INSEAD Executive MBA costs $125,000 and is ranked fifth globally, while the HKUST–Kellogg Executive MBA costs $185,650 and is the highest ranked course in the world.
Like MBAs, courses offered by US business schools are often the most expensive. The University of Pennsylvania: Wharton Executive MBA costs $210,900, while the Columbia Executive MBA costs $213,240. There are however some courses at other world renowned US business schools which are slightly cheaper, the MIT Executive MBA costs $178,302 while the UCLA Executive MBA costs $167,992.
Paying these high tuition fees is made easier for EMBA students than those studying on full-time MBA programs, as they are able to continue working while completing their course.
Top 5 EMBA Course Fees
Some students also avoid paying their entire course fees by acquiring financial aid. Companies can sponsor students and pay their fees for them, or students can apply for Executive MBA Scholarships to help with funding. However, securing financial aid can be challenging and the number of students who are self funded has been rising in recent years, at 53% in 2019 up from 41% in 2015.