Executive MBA students gather in classes on campus for residency week Monday, Jan. 6, 2020, at the Harbert College of Business in Auburn, Ala. (Photo by Julie Bennett)
According to the latest research by the Executive MBA Council (EMBAC), students exiting EMBA programs in 2021 reported higher salaries and more job responsibilities upon the completion of their programs. That’s good news, considering the skyrocketing prices at top-ranked EMBAs.
The official 2021 EMBAC Student Exit Survey hasn’t been officially released, but EMBAC executive director Michael Desiderio offered a sneak peek of some highlights in his Research In Context essay, “On Value and Perception, EMBA Hits the Mark,” published on the EMBAC website.
Michael Desiderio
Desiderio revealed that 14.7% of students exiting an EMBA program in 2021 reported an increase in total compensation after program completion. That’s up slightly from 2020 when 14.1% of exiting students reported a raise.
Average compensation rose from $166,549 at the start of their executive MBA programs to $190,989 at the end. Further, 36% of students reported receiving a promotion while 49% reported receiving more responsibilities in their jobs.
EMBA STUDENTS HAPPY WITH THEIR CHOSEN PROGRAMS
Desiderio also reported that EMBA graduates are “highly satisfied with their EMBA experience, including program quality. EMBA Programs also shine on another key satisfaction measure for any business: Alumni are likely to recommend their program to a colleague or friend,” he writes.
EMBAC’s annual student exit survey is one of several research initiatives the council undertakes each year, including its annual program survey and student entry survey. The 2021 Student Exit Survey included 1,247 students from 48 EMBA Programs, primarily based in the U.S.
RESULTS DOWN FROM 2020 STUDENT SURVEY
This year’s results in pay and promotions is down from the figures reported in the 2020 survey results reported in December of that year.
While average compensation increased slightly on a percentage basis, both average starting and ending compensation figures were higher in 2020 than 2021. Average compensation for students at the start of their program was $169,269 in 2020 and $193,200 at the finish, a 1.6% and 1.1% decline respectively. Further, 39% of 2020 students reported receiving a promotion after completion while 53% reported receiving more responsibilities in their jobs. 2021’s survey revealed sharp declines in both areas: 36% of students receiving a promotion and 49% receiving more responsibilities.
Those declines, however, likely says more about the job market at the height of the pandemic than EMBA student prospects.
EMBA STATS & DEMOGRAPHICS
EMBAC reported late last month that enrollments dropped 6.4% in 2021 compared to the year prior, according to its 2021 Membership Program Survey. That was despite the fact that applications rose an average of 17% per program while inquiries rose 3%. Read our full report on that survey here.
Other stats and insights gleaned from the latest program report include:
- Average age of EMBA students is 38.2 years
- Students, on average, have 14.1 years of professional work experience and 8.9 years of managerial experience
33.4% are female - 59.5% of programs offer scholarships or fellowships
- 15.2% of students received full sponsorship from their employers, 28.5% received partial sponsorship, and 56.2% were self-funded
- 43% of programs offered an international trip
The Executive MBA Council (EMBAC) represents more than 200 schools offering EMBA programs in over 30 countries. EMBAC provides research and other tools to advance executive MBA education, including annual student and member surveys to highlight trends and opportunities.
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