Executive MBA From IIMs – Worth the Investment?

There was a time when mid-senior level professionals had to think a hundred times before planning to pursue an MBA degree. People just could not bring themselves to decide whether investing such a huge amount and sacrificing their existing jobs is worth it, just to complete an MBA degree.

Well, gone are the days when professionals had to quit their jobs to get an MBA degree, ever since Executive MBA (EMBA) programmes came into place. Over 19% of the candidates in India actively consider the Executive MBA programme, according to GMAC. Today, the number of executive MBA colleges are many and it is the most preferred choice of corporate executives and senior managers. Typically, IIM is the first choice for every aspirant, and who can blame them? The Indian Institutes of Management (IIM) are the premier management institutes in India that stand at the helm of the Indian education system.

Since the candidates aiming for an Executive MBA from IIM hold senior positions in their field, the course structure and learning format are relatively flexible. Professionals with 5+ years of experience who are facing stagnant growth need strategic management and planning skills, which is why even organisations sponsor their employees’ management education.

Through this article, let’s explore the specifications of an Executive MBA from IIM, and when it is right for you to pursue this programme.

Unlocking the Hinges of Executive MBA From IIMs

The Executive MBA is a management programme that combines evening and weekend classes, online tutorials, and full-day workshops on an occasional basis.

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  Course Duration: 15 months to 24 months (varies as per course type)
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  Executive MBA Course Fee: INR 10,00,000 to 35,00,000

Generally, an Executive MBA from IIM is of 24 months, though the course name may vary. Unlike conventional MBAs, EMBAs are specifically designed keeping in mind the needs of corporate managers and schedule the lectures on weekends or evenings. Talking about their curriculum, EMBAs focus on real-world application, strategic planning, and advanced management techniques required for leadership roles. In some cases, an Executive MBA acts as a qualifying criterion to get promoted to a higher management position. So, you can say the curriculum is more flexible and less rigid.

You may also check: Executive MBA from IITs

Secrets of Executive MBA: Why Go for It?

Unlike a regular MBA course, which focuses on theory and basics also, the executive from IIM offers a tailored programme for working professionals with advanced topics. Here’s why it stands apart from a regular MBA:

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  The class schedule is flexible with a blended learning model, and lectures are mostly conducted in the evenings or on weekends.
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  The curriculum might seem similar to that of a regular MBA, but the discussions and topics involved are viewed from a leadership perspective and deal with complex business practices.
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  The Executive MBA batch from IIMs has handpicked professionals from various industries, therefore creating a strong peer network which not only helps you in learning but also expands your corporate network.
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  Since the room will be filled with senior executives with vast experience, it helps build your entrepreneurial skills, and you understand the realistic approach towards business models.
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  According to GMAC, over 73% of EMBA graduates are to redeem their investment in academics with much higher packages.
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  In business, the ability to see the big picture is extremely important. The Executive MBA from IIM is known for training professionals for the same.

When is the Right Time to Pursue an Executive MBA?

Typically, we spend 35–40 years of our lives working for corporations and making our professional lives worthwhile. In such a long span, when do you think is the right time to focus on an Executive MBA? Yes, you will have a tight schedule once you enter this arena. You will also have a tight budget during this phase. But all this is worth it if you invest your time and money right now.

Here are a few signs to identify the right time to pursue an Executive MBA:

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  Things don’t seem to change at work. There is nothing new to learn, grow or evolve, and if you feel stuck in one position for a very long time, it is about time to pursue an Executive MBA.
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  Every now and then, you see new technologies coming up, changing the way things are done. You might be skilled enough to demonstrate your technical competence, but for growth, you need more than that. The ability to lead change requires both technical and management capabilities.
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  Certain companies encourage their employees to upskill and provide support for continuing their higher education, especially at IIM. If you are fortunate enough to work in such an environment, take the benefit of such an opportunity and pursue an Executive MBA from IIM.
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  If, after 10 years of your professional journey, you are at a midpoint and looking forward to investing in the next 20 years of your life, an EMBA holds the chance to broaden your career scope to international opportunities as well.

While all these are the signs that you need to pursue an Executive MBA, this is a personal decision based on your individual experiences and plan. It is not something you can Google and find the exact answer. You need to thoroughly analyse every aspect of the programme, keeping in mind your requirements.

Eligibility for Executive MBA from IIM

IIMs are counted among the top B-schools for executive education. They offer Executive MBA programmes under various names and are of different durations. Therefore, the eligibility might also vary as per the different courses and IIM branches. We have compiled the general criteria followed by all the IIMs for an Executive MBA.

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  A candidate should have a bachelor’s degree from a recognised university and have scored a minimum of 50% marks in the course.
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  The minimum age to apply for an Executive MBA at IIM is 25, but there is no upper age limit.
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  A candidate should have a valid GMAT/GRE score (valid for 5 years from the date of application).
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  A minimum of 5 to 10 years of industry experience is required from the day you completed your last education (work experience requirement varies as per the course).
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  A written test, personal interview, and group discussion round are also conducted by some IIMs for the Executive MBA.

Please note that due to the varying nature of Executive MBA courses in different IIMs, the eligibility criteria might differ a little bit.

IIM Executive MBA Admission Process

A general selection process followed at every IIM for the Executive MBA programme is as follows:

1. Complete the Application: Keep a tab on the opening of the application portal of the IIM you are aiming for; accordingly, fill out the application form.

2. Pay the Application Fee: After submitting the application form, pay the required application fee for your programme.

3. Wait: Once the first two steps are done, all you have to do is wait for the shortlisting announcement. This is the most challenging step!

4. Prepare Essay & Resume: Post the shortlisting, and submit a concise and convincing admission essay or Statement of Purpose along with your resume. Some IIMs may ask for a letter of recommendation from your employer.

5. Interview: If you are able to pass all the hurdles so far, you have one last battle to fight. Do your best in the interview round with the IIM faculty.

6. Finale: For all those who beat all the competition and had luck on their sides, you will receive the final selection call.

List of IIMs Offering Executive MBA

Here is the list of the IIMs offering the Executive MBA with their fee:

Related: Top 10 Executive MBA Colleges in India – UPDATED!

Career Prospects after Executive MBA from IIM

Participants of the Executive MBA programme usually have significant industry experience and are already working. After completing an Executive MBA from IIM, you can be promoted to the following positions:

Top Recruiting Fields

Here are the top hiring companies at IIMs across India:

1. Ernst & Young

2. Zoho

3. HDFC

4. Axis Bank

5. Deloitte

6. Capgemini

7. IBM

8. HCL

Summing Up

Pursuing an Executive MBA from IIM is a transformational journey that reshapes you as a professional. Since these programmes are designed for mid to senior-level professionals, they go beyond the basics of business administration, which is generally covered in a regular MBA course. So, if you have more than 4 years of experience, going for an EMBA from IIM is worth your investment. Identify your goals, determine your career path and evaluate every minute aspect of the IIMs and then choose your perfect fit.