Aiming for a promotion at work? Get an EMBA, says survey
If you are currently employed in a full-time position and happen to be vying for a job promotion or aiming for a more attractive compensation package, consider enrolling in an Executive MBA (EMBA) programme.
According to the 2019 EMBAC Student Exit Survey conducted by Executive MBA Council (EMBAC), Executive MBA graduates received a 13.5% increase in compensation after completing the programme. This compensation boost included both salary and bonuses.
The survey was conducted by Percept Research and involved 2,390 graduates enrolled in Executive MBA programmes in the United States.
The survey reported the average salary and bonus package at the beginning of the programme as $205,008 and upon completing the programme, the average salary and bonus package rose to $232,663.
Additionally, 40% of students who completed the survey reported receiving a promotion in their organisations during the programme.
This indicates that Executive MBA qualifications are regarded as valuable assets by organisations especially at a time when the top skills needed by the global workforce continue to evolve.
Executive MBA programmes equip professionals with the skills needed to stand out amongst competitors, making them more desirable in these rapidly changing industries.
Executive Director of EMBAC, Michael Desiderio said, “As changes in technology continue to reshape society, businesses and individuals will look to higher education programmes to gain the skills needed to stay competitive in the age of digitalisation and globalisation,”
“When you couple the idea of promotion and prospective salary increases with new skills taught to Executive MBA graduates, it is clear to see why both students and companies are seeing the value in these programmes,” he added.
Additionally Executive MBA programmes provide students with development tools and an opportunity to refine a wide variety of leadership skills, such as critical and strategic thinking, team building, understanding of new technologies, and other immediately applicable proficiencies.
The survey findings also indicate that 53% of graduates experienced an increase in responsibilities as they were completing their EMBA programme.
Executive MBA programme graduates also reported that the programme helped improve their strategic thinking, decision-making, and leadership skills, after leaving the programme.
Those who complete the programme also reportedly have better insight into economic factors impacting businesses today, as well as accounting and financial acuity.
A report published by PayScale found that Executive MBA holders fill some high paying and rewarding roles including Chief Executive Officer, Chief Financial Officer, Director of Operations, Marketing Director, Chief Operating Officer, Vice President of Operations, and Operations Manager.
This makes Executive MBAs the ideal qualification for mid-career individuals seeking for a job promotion.
EMBA graduates are also sought after by some of the big names in technology and consulting. Among some of the top EMBA employers are Amazon.com Inc, Microsoft Corp, Accenture, General Electric Co (GE), and EY (Ernst & Young).