On the fence over whether an executive MBA is worth the cost? The Executive MBA Council, a nonprofit association of universities and colleges that offer EMBA programs, released the results today (November 14) of its annual student exit survey that shows not only a compensation uptick but new responsibilities among graduates.
EMBA graduates received a 14.6% increase in compensation — combined, both salary and bonuses — after program completion, the survey shows, continuing the pattern of year-over-year increases in students’ return on investment after completing an EMBA program. EMBAC’s exit survey data dating back to 2014 shows steady salary increases:
- 2014 = 14.0%
- 2015 = 16.8%
- 2016 = 11.6%
- 2017 = 14.2%
- 2018 = 14.6%
“As the demand for competent and innovative leaders continues to rise, companies and individuals will look for ways to advance their abilities to stay competitive in the ever-changing business landscape,” says Michael Desiderio, executive director of EMBAC, in a news release.
EMBA: NEW LEADERSHIP & DECISION-MAKING SKILLS
EMBAC’s survey included 2,399 graduates of primarily U.S. EMBA programs. It was conducted by Percept Research and fielded from programs between July 1, 2017, and June 30, 2018.
The survey results show that graduates leave programs having improved their critical thinking, leadership, and decision-making skills, and that those who complete the program have better insight into economic factors impacting businesses today, as well as accounting and financial acuity.
EMBA programs offered around the world provide a wide variety of leadership development tools, greater strategic vision and immediately applicable skills, Desiderio says, and EMBA programs equip professionals with useful skills needed to stand out amongst others, making them more desirable in these rapidly changing industries.
“Going through an EMBA program, like any other professional development activity, doesn’t guarantee that someone will get a raise, a promotion or new responsibilities,” Desiderio tells Poets&Quants. “However, there’s no denying that in today’s globally competitive market, gaining new knowledge, new ways of thinking, and access to new skills provides an advantage for those looking to move up the proverbial corporate ladder, so it’s not surprising to see EMBA grads echo this experience.”
PROSPECTIVE SALARY BUMP MAKES EMBA WORTH IT
Obtaining an executive MBA remains one of the most beneficial investments an individual can make to advance their professional career, Desiderio says. As new technologies continue to reshape the global workforce, the need for leaders proficient in these technologies will be at an all-time high.
“The idea of prospective salary increases and new responsibilities, combined with the unique skills taught to EMBA graduates, makes it easy to understand why both companies and students are seeing the exceptional value in these programs,” Desiderio says.
EMBAC is an association of business schools that offers EMBA programs throughout the world, which currently includes more than 200 colleges and universities that administer 300-plus programs in more than 30 countries worldwide.