PAY AT TOP SCHOOLS FALLING
Perhaps the biggest surprise of The Economist’s data is this: EMBA pay is slipping…at least among the elite EMBA programs. Among the Top 10 EMBA programs in the 2018 rankings, seven were also ranked in The Economist’s previous 2015 list. Among those seven, four had seen a substantial drop in EMBA pay at graduation, including Northwestern Kellogg-WHU Otto Beisheim (-28.8%), UCLA Anderson-National University of Singapore (-20.5%), University of Oxford Saïd (-16.7%), and Yale SOM (-9.7%).
What’s behind this? For one, pre-MBA base pay has also declined over the past three years at these four schools, notably at the University of Oxford Saïd (-24.8%), Northwestern Kellogg-WHU Otto Beisheim (-24%), and Yale SOM (-21.5%). For another, EMBA interest in switching companies and careers has grown, as shown by nearly three-quarters of EMBA program now offering executive and career coaching according to EMBAC. In addition, EMBA pay can also be tied to household income. Notably, average pay among the top 20% of household had risen just 7% from 2006-2016, a harbinger of stagnant wages and reduced options.
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