Executive MBA value still strong in 2020
An Executive MBA (EMBA) can add specific business skills to your toolkit that can all work in your favour to give you the desired outcome for your career progress.
The Executive MBA Council (EMBAC) an association of business schools that offer EMBA programmes throughout the world, shared results of the 2020 EMBAC Student Exit Survey which revealed that “EMBA graduates received a 14.1% increase in compensation in 2020″.
The increase in compensation was seen across both salary and bonuses – after programme completion.
The report details that the average salary and bonus package at the start of the programme for students in the 2020 survey was $169,269 and had risen to $193,200 at the end of the programme.
Additionally, the results show that 53% of students who completed the survey received new responsibilities, continuing to show the value of an investment in an EMBA programme.
An EMBA applicant generally has more extensive work experience ranging anywhere from 10 to 15 years and therefore may not be required to have undergraduate degrees to enrol.
The EMBA applicant typically has more business knowledge acquired through work experience and therefore may not be required to undergo entrance examinations, unlike the average MBA candidate.
Based on the Financial Times Global Executive MBA ranking of the best 100 programmes worldwide, EMBA graduates generally reported a salary increase by 59%.
The results published by EMBAC indicate that EMBAs can still provide a great return of investment, despite the current economic slowdown.
The executive director of EMBAC, Michael Desiderio said, “Despite a year of unprecedented challenges that have impacted the global economy and workforce, the investment in an Executive MBA continues to be valuable to both students and companies,”
He added, “EMBA programs enrich students with new ways of solving business problems and provide them with tools to adapt in the face of adversity.”
Desiderio said that companies recognise how important these skills are now more than ever and the increases in compensation and responsibilities are given to professionals in these programmes attest to that.
Investment in an EMBA programme remains one of the most beneficial decisions professionals can make to advance their careers.
EMBA programmes equip professionals with the skills needed to stand out amongst competitors, making them more desirable in these rapidly changing industries.
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.
With the global workforce rapidly evolving, there is a strong need for professionals to be nimble and proficiency in vital skills is at an all-time high.
EMBA graduates credit their coursework with helping them improve leadership skills such as critical thinking, decision-making, team building, understanding of new technologies, and other immediately applicable proficiencies.