An overview of an Executive MBA : Pros and Cons

A Masters in Business Administration in definitely a worthwhile academic pursuit. It is one of the most popular degrees with students out there today and one that has a range of specializations from a number of different kinds of schools. A number of students today opt to pursue an MBA program to further their educational aspirations as well as enhance their career prospects. But what about those professionals who have already joined their chosen professional stream and are looking to climb the rungs of a slippery corporate ladder? It becomes impossible to juggle a full time job as well as a full time course. This is where an Executive MBA can come in and fill the gap.

A Executive MBA program or an EMBA as it is also called, is a Masters degree that serves a large population base of working professionals. It is as its name suggests an MBA option for executives and professionals who have already started working and want to gain an additional degree or diploma in order to give them a boost at the work place. Many employers too today willingly fund an executive MBA course for talented employees who they feel have the potential to blossom and be a major asset to their companies. It is in fact a great option for lower and mid level employees who want to advance to the managerial level and higher. 

If you are considering opting for an EMBA, here are a few pros and cons you may want to consider:

Pros: 

• It shows initiative – Employers love a worker who has the drive and ambition to succeed and wants to take the next step to not only further their career prospects, but also be a more skilled employee for their company. Opting for a course of study even after you have already begun your journey on the career path shows that you are serious about your job and want to rise. Talk to your higher ups whether going in for such a program would be considered a boon for the company and whether you can adjust your schedule if needed for course work.

• It is not as intensive as a regular MBA – An EMBA program will likely be a part time one, a few days a week. The course materials may be more targeted toward a specific set of skills and subject matters rather than a very comprehensive full time regular MBA.

• It is a good networking tool – An executive MBA course will likely be attending by other working execs like yourself. Although you will find people from all streams, some find it a great way to meet like minded people and people working in the similar strata as themselves.

Cons:

• It might be too much to handle – Not everyone can handle a full time job and a post graduate course at the same time efficiently. Responsibilities at work as well as course work can get a bit overwhelming if you cannot manage your time well and give due diligence to both.

• It may not be what you need – Not all workplaces are that supportive or appreciative of their employees taking on additional responsibilities and courses. It may not even be necessary in order to be considered for that career raise. Talk to your higher ups and check if this is something that is worth your time, if that is the sole purpose that is driving you to take it on.

PI tips for MBA

Getting into a top MBA college in Mumbai or any other city known for its educational institutes is no cake walk. Merely getting a good score in the written entrance exam is sometimes not quite enough to get you a seat in the best B school. GD (Group Discussion) and PI (Personal Interview) also play a significant role in the admission process. They essentially check your readiness for an MBA program. The personal interview is somewhat of a personality test. They interview panel is basically looking for a candidate that has a sound self-awareness, good grasp of academics, knows well what his goals are and is passionate about them, and a well-rounded personality that is also pleasing. The PI usually lasts about 30 minutes to an hour, and the questions asked to the aspirant are intended to bring out qualities that cannot be assessed through a written test.

In view of the fact that PI is the only obvious opportunity to come face to face with the panel, you should make sure of impressing them. Let’s start with the basics of making a great first impression. The first thing to do is wear appropriate clothes. You need to look presentable, but also exude a polished and professional image. Stay away from flashy colours and stick to formals, even with the shoes. You should carry a nice looking portfolio. Not only does it help you keep your documents organized, but also looks like you are taking each stage of the admission process seriously. Your approach towards the panel is of much importance. Even though the time it takes you to walk from the door to your seat is just about a few seconds, a lot depends on it. Practice your walk with the portfolio in hand. Stand tall and straight with your shoulders back projecting confidence and poise. Smile and greet them formally while making eye contact and extend your hand for a handshake. Handshakes are imperative to making an impression. Practice gripping the person’s entire hand and matching the strength of their hold.

There are four chief focus areas in a personal interview. These are personal details, academic details, your background and current affairs. Hence, some frequently asked questions during the personal interview include telling the panel about yourself, why you want to do this program, where you see yourself in five years, who your role model is,  your hobbies, your strengths and weaknesses, your options in case you are not selected, your academic background, habit, and likes and dislikes. While you can practice the right answers to the questions, there is no guarantee that you will do well. For success in PI you also need to keep in mind some tips.

Listen carefully to every question, without interrupting. Do not hesitate to ask for clarifications in case the question is unclear or vague. Think before you answer, rather than jumping into it. Practice the tonality and volume you will need to speak at in order to be comfortably heard by the panel. Diction is also important. Speak clearly and make sure you are not going too fast or too slow. Keep your answers to the point and elaborate only where necessary or asked to. Honesty is endearing so if you do not know an answer, be honest and avoid bluffing. Be polite and humble, while being cheerful and confident. Many aspirants fail at PI for using the wrong kind of language. Refrain from using slang, as often it is not appreciated by panel members. Answer in the language used for the question. That is, if a question is asked in English, answer using English only.

MBA Institutes in Mumbai

There was a time when good grades at graduation from a well-known university were enough to get students a decent job. This scenario has changed completely in the last decade or so. With competition at its peak in every walk of life, most students know the need a little something extra to give them an edge over others. A degree in management from a celebrated college can give you this edge. A few of the MBA institutes in Mumbai today are rated among the top B schools of India for Management studies. With more and more students realizing the importance of a Post Graduate Degree, such courses are gaining imperative priority, especially for aspirants who want to excel in the corporate world. One of the plus points of this degree is that it is open for students from all fields of education, may it be engineering, commerce, arts, etc, as long as they have acquired 50% or more marks in their last year, and have passed out from a recognized university.

 A Master of Business Administration or Master in Management Studies Degree is deemed as the most popular business qualification around the world today. This may be the primary reason why even professionals are now opting for such courses. With many top B schools offering part time Management courses especially designed to accommodate working professionals, this population of the country is definitely taking advantage of the opportunity presented to them. In a place like Mumbai, the fast growth of commercial establishments and privatization has created a marked increase in demand for management professionals. The companies that are always on the hunt, aim to find freshly graduated MBA/MMS students that are innovative thinkers, have good multi-tasking skills, excellent interpersonal skills, awareness about the changing trend of the global market, enough knowledge of the present economical market situation, and management skills to deal with any type of issues that may arise during work.

 Staying in line with the basic rule of demand and supply, the top b schools of the city have taken upon themselves to bring into shape the future leaders of the corporate world. The courses are designed keeping the students’ future and larger market picture in mind, and institutes strive to provide every necessity for the student. This includes things like employing the best possible faculty, offering state of the art infrastructure, providing educational material and implementation methodologies, exposure to the industry through hands-on learning methods and experience, case studies and project work, internships, campus interviews, and much more. These B schools also make great efforts to expose the students to international and effective business links that can broaden their outlook and enhance competency.

Today, professionals having a MBA or MMS degree to their name have made a forte for themselves in the corporate and business world. And it is not just about an overview degree, when it comes to MBA studies. There are many MBA institutes in Mumbai that offer specializations like finance, human resources, marketing, operations, mass media, etc, for those of you interested in specific fields. You can easily search online for courses that you may be interested in. It is advisable to be very thorough about your research, before you decide on the right college or B school for your studies, as many corporate companies these days also consider the institute’s rank, affiliation, credibility and education standard as a factor for employment. Thus, it may be best to go through official B school websites, talk to students studying in that college, make an appointment with one of the professors if possible, carefully go through the course modules, personally check out the college’s infrastructure, ranking, placement record and ambiance, and consider the fee structure and feasibility.

Executive MBA

Executive MBA programs are primarily aimed at experienced business professionals from various fields with more than two years’ working experience. There are many businessmen and professionals that do not get the time or opportunity to acquire an MBA Degree because of the pressing need to work and earn a livelihood; but with management skills being the need of our modern times most executives have now realized the importance of such studies. These career development programs are designed to transform your leadership skills, and increase management aptitude and strategic thinking to take on today’s global business market in your area of work. This is the reason part time Masters Degrees in Business Management are gaining due popularity in the corporate world.

The value of an MBA Degree to scaling the corporate ladder is undeniable. Today, you have an opportunity to acquire this Degree without having to take a break from your job and join a full time MBA program, thanks to the many B schools conducting such programs for your benefit. Plus, there are quite a few advantages involved with undertaking such a program. Firstly, it allows you to study without disturbing your professional standing. The Executive MBA Degree is considered at par with the full time Management Degree within the corporate world. With work experience on your side, you tend to learn quicker and better than someone inexperienced. This translates into better understanding of the subjects and in turn better use of the acquired knowledge in the future. In such programs, there is a huge scope of learning from other candidates, as the class is full of students from various fields and backgrounds. Thus, shared work experiences serve as another kind of learning. Such programs are designed in such a way that they offer niche specializations that help aspirants focus and grasp the subjects well. And lastly, most Executive MBA programs are more economical in comparison to full time MBA Degrees.

Most Executive MBAs are either one year full time or three year part time programs in India. There are some B schools that even offer these courses online or through distance learning mode, giving the candidates flexibility and convenience in learning. These days you can see many corporate houses taking initiatives to urge their employees to take up such programs offered by the leading B schools in the country. Some companies fully fund such employee undertakings, as this directly benefits the company in the long run.

It may be concluded that such programs are a little different from the normal MBA Degree programs. Executive MBA programs focus on specifics and stress on learning through real life experiences and case studies, rather than generalizing the subject and reading up on the topics. Some of the good programs offered in the country are a 3 years part time Masters Degree in Management in Finance, Marketing, Information Management or Human Resource Development (MFM / MMM / MIM / MHRDM).

E-MBA in Finance (Banking & Insurance)

A large number of B schools across the country offer a wide range of management programs for entrants like e-empowered Management & Business Administration, e-empowered Management & Business Administration in Finance covering Banking and Insurance i.e. e-MBA in Finance (Banking and Insurance), Post Graduate Diploma in Management with e-Business, Masters in Management Studies (MMS), MHRDM / MFM / MMM / MIM, Masters of Business Administration with specializations in marketing, finance, personnel, systems and operations, Advanced Diploma in Pharmaceutical Business Management (ADPBM), and Post Graduate Diploma in Foreign Trade (PGDFT). E-MBA Finance with banking and insurance is a professional program targeted at fresh graduates of any discipline as well as executives and professionals who are looking to grow further in their chosen field.

This distinguished course done through a reputed B school may cover a range of topics such as central banking, commercial banking, investment banking, cooperative banking, principles of management, accounts and finance for managers, business environment, ERP, managing personnel, production and operations management, marketing management, managerial economics and quantitative techniques for managers. Also, entrepreneurship, strategies for management, principles of banking, international banking management, information technology in banking, regulations and compliances for banking sector, risk and treasury management, security analysis, bank portfolio management, project management, business laws used in banking, research methodology, business ethics, corporate governance and international trade for aspirants in the banking sector. There are similar distinctions covered for the field of Insurance as well such as accounts and finance for managers, insurance business environment, managerial economics, insurance and risk management, life and non-life insurance, management in insurance companies, business communication, insurance marketing, and reinsurance. Some of the leading B schools have exceptional courses for MBA Finance in view of the fact that banking and insurance are the two fastest growing segments in the financial sector of the country today.

While one may find many B schools that have courses which are dedicated to only Banking or Insurance, it is advisable to enroll for a dual specialization for its many benefits. Seeing that these two segments of the financial sector do work hand in hand, it is best for any aspirant to know the internal working of both fields. It is advisable to seek admissions at B schools that focus on meeting international standards such as that set by the IRDA in London. This initiative can open career doors to 150 countries from across the world for you.

With such exclusively planned courses like e-MBA Finance in Banking and Insurance available, not only aspiring graduates, but also a large number of executives from the finance field are seeking admissions in well-known B schools of the country. In fact, there has been a substantial growth in admissions since the introduction of these courses and the many colleges and institutes are already bringing into being a fleet of business leaders, managers and top class entrepreneurs.