The Truth About Executive MBA Ranking
Executive MBA ranking or EMBA ranking can be defined as the rating method, which is used to grade the varied executive MBA (EMBA) programs as per their superiority. Executive MBA programs can be defined as programs that are designed to speed up the career growth and meet educational needs of the managers and executives. The main criteria used to rate the EMBA programs include the recruiter's perspectives, qualifications of the incoming EMBA students, professional achievements of the EMBA graduates and the curriculum ideologies of the various executive MBA programs.
Special Features Of EMBA Programs
EMBA programs groom the professionals in general management skills and help them to climb up the corporate ladder. The students of EMBA program come from all types and sizes of organizations. They are generally senior than their full-time business school student counterparts and bring more work experience to the classroom. Classes are usually held at weekends and there is no internship or university scholarship available. Sometimes, of course, the education of the EMBA students is sponsored by their employers. The curriculum gives stress on general management and there is little or no opportunity of specialization.
The Need For Ranking
Masters in Business Administration (MBA) has become one of the most popular degrees of the recent times and several universities all over the world are offering it. Thus, it has become imperative to differentiate between the quality of schools, faculty, course offerings, etc.
Different modes of varying validity are used to rank the MBA programs. The top position is however, fairly subjective and hence can vary from one to another. The ranking is arrived based on the questionnaire answered and by comparing the different facets of these MBA programs. Several agencies as well as Financial Times, the Economist, the Forbes Magazine, the Wall Street Journal and U.S. News and World Report also publish the MBA program ranking.
Some of the basic criteria for grading the full-time MBA are the reputation based on the judgment and opinion of MBA graduates and employers, GMAT scores, quality assessments by the alumni, job placement rate, salary and bonus, rating of research and academic reputation. The part-time programs are ranked on the basis of recommendation by the directors and business school deans.
The Advantages And Disadvantages Of MBA Program Ranking
Executive MBA rankings do have some advantages. They give aspiring students a fair idea of the strengths and weaknesses of business schools, the reputation of an MBA program, acceptance rate, tuition fee, placement assistance, and employment rates, etc.
There are several disadvantages of ranking the EMBA programs. Rankings limit the population size to a small number of programs and ignore many schools with excellent offerings. The techniques of grading are also subject to biases and statistically flawed methodologies, resulting in a school ranking as number 1 in one list and number 3 in another. A high rank also sometimes leads to a self-fulfilling prophecy. Moreover, at times, the reputation of the institute is given more importance than the program offered.
Though useful, these rankings are not tailored to individual needs. A truly objective executive MBA ranking that is individualized to the needs of each prospective student can be of immense help.
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