The next step: is an executive MBA program right for you?

• Author: Biton, Adva
• Position: Technology

You're good at what you do. You've been developing new technologies and managing people--maybe budgets and projects, too--for years. But you feel like you're ready for more: more knowledge, more responsibility. You're ready for the next step up the corporate ladder. For many people at this stage in their career, it can feel like those years of experience and the knowledge base already gained should be enough.

But what if you're an extremely talented engineer who's spent most of your career writing code, and perhaps managing others who are writing code, but you feel you've reached a ceiling in your career possibilities? What if you're an entrepreneur who's been caught up in simply keeping your company afloat? What if your entire career until this point has been extremely focused on one particular aspect of business and you want to broaden your perspective?

For some, an executive MBA (EMBA) program can fill in those gaps. Programs like the ones offered at the University of Utah, Brigham Young University or Western Governors University claim they can, and will, help executives further their careers.

"For the right demographic, it can benefit anyone if they're willing to put in the work and sacrifice that comes with working a full-time job and working towards a Master's Degree," says Michael Desiderio, executive director for the EMBA Council. "If you're an executive and you're looking to take the next step in your career and look at the enterprise through a different lens, it will have value for you."

What's an EMBA?

The prospect of going back to school can make some balk. Haven't you already put in your time? Luckily, the average participant in an EMBA program is, according to Desiderio, around 37 years old, with 14 years of work experience and nine years of management experience. "This isn't someone quitting their job and living on campus and being immersed full time. They're quite structured," he says.

EMBA programs typically last about 20 months, although some may require supplementary coursework to be completed for students who have never taken business courses beforehand. And it takes investment--the Wharton school at the University of Pennsylvania's EMBA program costs a stunning $172,000, for instance, and most are at least over $50,000. Some of the students pay their own tuition, some have their employers foot the bill, and some split.

For some, the return on their investment is quick. Brad Vierig, associate dean of MBA programs and...