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Executive MBA From IIMs – Worth the Investment?

executive mba from IIMs

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. Until 1984, there were 92 schools offering EMBA degrees. Today, several universities have started this programme and is the most preferred choice of Corporate Executives and Senior Managers. Typically, the first choice of every aspirant is IIM and why not? IIMs 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 flexible, relatively. 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 is it right for you to pursue this programme.

Unlocking the Hinges of Executive MBA From IIMs

The Executive MBA is a management programme which is a blend of classroom teachings on evenings and weekends, online tutorials and classes, and full-day workshops on an occasional basis.

  • Course Duration: 12 months to 24 months (varies as per course type)
  • Executive MBA Course Fee (INR): INR 10,00,00 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.

Secrets of Executive MBA: Why Go for It?

  • The class schedule is flexible with a blended learning model and lectures are mostly conducted in the evenings or weekends.
  • 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.
  • 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 expands your corporate network.
  • Since the room will be filled with senior executives with vast experience, it helps build your entrepreneurial skills, you understand the realistic approach towards business models.
  • According to GMAC, over 73% of EMBA graduates are to redeem their investment in academics with much higher packages.
  • In business, the ability to see the big picture is extremely important. 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 in corporate and making our professional life 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. Yes, you will have a tight budget during this phase. But all this is worth it if you invest your time and money right now. Again the question arises, when is the right time?

Here are a few signs to identify:

  • 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.
  • Every now and then you see new technologies coming up, changing the way things are done. You might be skilled enough to prove your technical competence in such a scenario but when it comes to growth, you need more than that. The ability to lead the change requires both technical and management capability.
  • Certain companies encourage their employees to upskill and provide support for continuing their higher education, especially IIM. If you are fortunate enough to work in such an environment, do take the benefit of such an opportunity and pursue an Executive MBA from IIM.
  • If after 10 years of your professional journey, you are at a mid-point 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 Executive MBA.

  • A candidate should have a bachelor’s degree from a recognised university or a board and have scored a minimum of 50% marks in the course.
  • The minimum age to apply for an Executive MBA at IIM is 25, but there is no upper age limit.
  • A candidate should have a valid GMAT/GRE score (valid for 5 years from the date of application).
  • A minimum of 4 years of industry experience is required from the day you completed your last education.
  • A written test, personal interview, and group discussion round are also conducted by some IIMs for the Executive MBA.

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

Admission Process

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

  1. Apply: Keep a tab on the opening of the application portal of the IIM you are aiming for and 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. The toughest part!
  4. Prepare Essay & Resume: Post the shortlisting, and submit a concise and convincing admission essay or Statement of Purpose along with your resume.
  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

Institute Name  Course Name  Course Fee
IIM Ahmedabad PGPX INR 33 Lakhs (Single accommodation)
INR 35 Lakhs (Married student housing)
IIM Bangalore EPGP INR 31,05,00 (Single accommodation or with a spouse)
INR 33,96,000 (family accommodation outside campus)
IIM Udaipur EMBA, PGDBM INR 14,20,800 (may vary as per the course)
IIM Calcutta MBAEx INR 31,00,000
IIM Lucknow PGPWE INR 11,00,000
IIM Indore EPGP, PGPMX INR 22,11,800 – 17,60,000 (varies as per course)
IIM Kozhikode EPGP INR 12,00,000
IIM Shilong PGPEx, PGP for Working Executives INR 22,71,000 – 12, 00,000
IIM Trichy PGPBM (Executive MBA) INR 11,80,000
IIM Ranchi Executive MBA/EPGP INR 12,70,000
IIM Raipur ePGP, ePGP in HRM INR 13,25,000
IIM Rohtak EPGPx INR 6,95,000
IIM Visakhapatnam PGPEx, EMBA INR 10,80,000
IIM Kashipur EMBA INR 12,00,000 – 12,20,000 (varies as per specialisation)

 

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

Career Prospects after Executive MBA from IIM

Job Role  Average Salary 
Chief Financial Officer INR 47.1 LPA
Chief Executive Officer INR 38.8 LPA
Product Manager INR 20 LPA
Logistics Manager INR 10.6 LPA
Entrepreneur INR 9.9 LPA
Human Resource Director INR 44.2 LPA
Senior Account Manager INR 10.4 LPA
Senior Associate – Investment Banking INR 15 LPA
Senior Project Manager INR 24.1 LPA
Marketing Manager INR 12.5 LPA

Source: Ambition Box

Top Recruiting Fields

Marketing Industry Corporate firms
Online Portals Finance Industry
Human Resource Firms Offices

 

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