The Executive MBA

Where to Go In Mid-Career to Get That Degree You've Always Wanted.

THE GANG'S ALL HERE: GEORGE WASHINGTON UNIVERSITY'S EXECUTIVE MBA STUDENTS GATHER FOR A GROUP PHOTO. STUDENTS SAY A BENEFIT OF EXECUTIVE MBA PROGRAMS IS THE ABILITY TO MIX WITH OTHER MID-CAREER PROFESSIONALS. PHOTO COURTESY GEORGE WASHINGTON UNIVERSITY

When Bob DuPont started looking into getting an MBA degree in 1996, he was in his mid-40s and working in a mid-level position at Mobil Oil. "Companies were downsizing and the business climate at the time was a lot like it is today," says DuPont. He felt some concern about a possible layoff, but that wasn't the only reason: "More importantly…my undergraduate business degree was almost 20 years old and I was reaching a mid-point in my career," DuPont explains. "It seemed like a good time to refresh my skills."

But with a wife and two teenage kids soon planning to go to college, a full-time program wasn't an option for DuPont. He considered part-time MBA programs, but quickly realized that earning the degree that way would take too long. The most attractive option was an Executive MBA-a rigorous program designed specifically for high-potential middle- and senior-level managers and other accomplished professionals who want their MBA but don't want to (or can't afford to) step off the corporate ladder. The chance to earn the degree at a rapid pace - between 18 and 21 months, depending on the program - while continuing to work is a priority for many serious professionals eyeing promotions. "I wanted to get through quickly in case a promotional opportunity that required a move came up," says DuPont, who began George Washington University's EMBA program in August 1997 and earned his degree in May 1999.

Increasingly, busy executives like DuPont who want to boost their careers by taking the next step are turning to executive degree programs. The first such program became available in 1943 at the University of Chicago, but it wasn't until the 1980s that EMBA programs became widespread. "Overall, inquiries are up and schools are filling their classrooms and starting new programs," says Maury Kalnitz, the director of the Executive MBA Council. "Even in the down times, applications have not dropped off."

But despite the growing interest in EMBA programs, some professionals remain unaware that there is a way to keep your day job and still get an MBA in two years or less. Abby Greensfelder, director of New Media Development for the Discovery Channel, assumed she'd end up leaving her job to go back to school full-time for an MBA. But Greensfelder, now a student at the University of Pennsylvania's Wharton EMBA program, has become "a huge advocate of the executive MBA." "It's a way to do both," she explains. "You can continue to work and advance your career while going to school."

While most local business schools offer full-time and part-time MBA programs, only three - Georgetown, George Washington and George Mason - offer EMBA programs. And several executives choose to leave the Washington area for EMBA programs at top B-schools in other states, maintaining their jobs in the Washington area. Case in point: in Wharton's 2001 EMBA class in Philadelphia, 22 of about 100 students were from Greater Washington. Some local professionals travel even farther than Philly. Before selecting George Washington, DuPont considered the EMBA programs at Columbia and Duke, because he knew local executives who'd attended them.

But is going back to school really worth it for mid- and upper-level professionals already climbing the ranks? Those who have done it offer a resounding yes. For DuPont, the evidence that earning his MBA paid off seems clear. Just after he earned his degree, Mobil Oil and Exxon merged and due to redundant services, many highly qualified employees were laid off. DuPont did not suffer such a fate. "I was offered a promotion after the merger, and I can only assume that having a freshly minted degree helped," he says. "It clearly enhanced my status with my peer group and my salary went up," he adds. Now DuPont serves as senior business planning advisor in the refining and supply division at ExxonMobil.

Okay. You're convinced you want that MBA after all. What now? DuPont suggests thinking about what you're trying to accomplish and writing out a shopping list of your wants and needs. Then explore various executive programs and see which one best matches your list. "It's a big-ticket purchase, so you do a lot of comparison shopping," he explains. Lisa Kaminski, director of the EMBA program at Georgetown, advises prospective students to visit schools they're considering and sit in on a class. "If you're going to buy a Rolls Royce, you better test drive it," she says, adding that it's about more than just money.

Not everybody stays in the area for their degree: In Wharton's 2001 EMBA class, 22 of about 100 students were from Greater Washington.

For some, going to a top-five program is more important than an easy commute. "If I was going to work that hard, why not go for the best?" asks Ena Willims Smitha, an ExxonMobil business advisor and recent graduate of Wharton's EMBA program. Greensfelder agrees. "If I was going to go back to school and make the time commitment, I wanted to go to a top program," she explains. But the benefit of attending Wharton extends beyond just the brand name. The school's stellar reputation lures students from all over the country, resulting in a geographically diverse student body. "I frankly like the mix," says current Wharton EMBA student Pat Cave, who serves as the deputy assistant secretary for financial institutions policy at the Treasury Department. "The takeaway for me has been the shared experience with the other people there. It's nice to know people in investment banks in New York I can call and get the real scoop."

Others think local programs offer an advantage, especially to those who plan to remain in Washington for the long-term. If you're working in Washington and want connectivity to DC businesses, alumni and faculty, a local program might make more sense for you, says Robert Dyer, George Washington University's EMBA director. Burlie Brunson, vice president of corporate program development for Lockheed Martin, chose GW's executive masters program largely for that reason. "I wanted my classmates to be people with whom I kept in touch and I didn't see that that would happen at Wharton," says Brunson, who graduated in 1995.

EMBA programs are specifically designed to cater to the busy professional, and on average, students are in their 30s and 40s with about 12 to 14 years of work experience under their belts. Depending on the school, programs are usually set up so that classes are held on alternating Fridays and Saturdays (so students attend school one day a week) or with classes held on the Friday and Saturday of the same week (two days of class in a row) on alternate weekends (so, one weekend on, the next off). Both setups mean students are out of the workplace (and in school) about two Fridays a month, and employers sign a letter of support up front approving the schedule in advance. Some programs take a break in the summer (George Washington and George Mason) while others go straight through (Georgetown and Wharton), earning the degree in the shortest amount of time possible.

Getting through the program isn't an easy task, especially when trying to balance a full-time workload and a personal life, which often includes a spouse and children. Going through an executive MBA program inevitably means your life will be dramatically altered for about two years, say students and graduates. GW's Dyer describes the program as a "very robust, intense experience" and cautions that it isn't a "lightweight way to get an MBA." First semester is particularly tough for rusty students long out of college, and as a result, it's not unusual for schoolwork outside of class to take from 25 to 35 hours at first, says Gary Eiloo, senior vice president of Science Applications International Corporation (SAIC) and George Mason EMBA alum. As they settle in, students tend to devote between 12 and 20 hours a week on school assignments, on top of about eight hours a week in class.

All of that plus your full-time job. But the structure of EMBA programs helps students get through it. Unlike in full-time and part-time MBA programs, executive business students form a distinct group or cohort (usually 30 to 50 people), which takes most (if not all) classes together. Then, within each cohort, study groups or teams of five to seven people are formed, each responsible for team projects.

"Integrated learning is a strong feature of EMBAs," says Sarah Nutter, director of George Mason University's EMBA program. "The classes build on each other, unlike in many MBA programs where they're in no particular order and students are not taking the same classes at the same time. It's one reason you can accomplish more sooner."

Some students say they wish they could have devoted more time to their programs, and that they're a little sad to finish. But how do you get through all the work, given the demands of your job and family obligations? "You need the support of family, friends, coworkers and your superiors up front, so they'll understand that some things just won't get done," says DuPont. If you don't have that, he says, you might want to think about other options. Says Andy Blocker, managing director of government and international affairs for American Airlines and a student in Georgetown's EMBA program, "It's a tough, grueling commitment, but it helps to know that there's a finite end."

Once enrolled, what helps most is assistance from other students assigned to your study team. "The all-important thing to each student is your team," Eiloo says. Teammates alleviate some of the strain for each other by taking the lead on assignments focused on their particular area of expertise, and the team as a whole will compensate for someone who has to miss a class.

All business programs emphasize collaborative learning, but in executive programs, student cooperation comes together like nowhere else, partly because of students' accomplished backgrounds. Don Conroy, a dealer operations manager for Ford Motor Company and a current EMBA student at George Washington, describes his study group as "a one-of-a-kind mini-powerhouse." His group is made up of a finance person from ExxonMobil, an Ernst & Young accountant, a second finance person from Honeywell, a marketing and public affairs person from Verizon and an entrepreneur who has bought and sold high-tech companies. "A lot of times, I feel like I learn more from the people in the classes than from the professors," Conroy admits.

But student support doesn't come just from classmates. EMBA programs aim to treat students like customers with the understanding that for them, time is the most valuable commodity. Usually included in tuition prices are everything from books (which are delivered to you) to meals and snacks provided on class days. Even the cost of hotels and airfare for domestic and international residencies (intensely focused one- or two-week study periods) are usually included upfront, with all logistical arrangements handled for you. No need to worry about registering for classes or standing in line to buy books.

If asked, support staff will assist by doing things like online searches for research projects. On more than one occasion, when Brunson was out of town on work travel, GW overnighted project materials he needed to his hotel.

Executive MBA programs are big business for B-schools. High tuition costs bring in a steady stream of revenue, often paid in full by big companies putting their employees through the program. Full company sponsorship is on the decline, and students are increasingly self-sponsored, securing loans when necessary. But beyond tuition, schools benefit by developing lifelong connections to companies through senior-level (or soon-to-be) players - their students. After all, they're studying to be top leaders in their professions, so there's a good chance that graduates will become supportive alumni.