Prospects of Executive MBA
Three major reasons why ambitious and career-oriented professionals choose to pursue a graduate degree in renowned business schools are developing a strong professional network, boosting key knowledge and skills, and accelerating career progression. However, with time being such a valuable asset, many people are understandably reluctant to take time away from work and family life to pursue a traditional in-class full-time MBA degree. This is one major reason why the option of an Executive MBA has gained popularity—it provides rigorous, specialized training for career-focused professionals, but it can be completed part-time in as little as 18 months.
When people have worked more than a decade including 5 or more years of managerial experience, they generally opt for Executive MBA programs (or EMBAs). They have some success in their careers, but possibly they have run into some stagnation or want some diversity in their work experience, some might want to change their industry or plan to begin their own venture. Completing an EMBA program will give them the credentials to achieve all the goals just mentioned and even rise to greater heights.
Advantages of pursuing an EMBA degree
One of the key features of an EMBA is that you can pursue your studies without taking a break from your full-time employment. Students have the flexibility of earning their EMBA in as little as 18 months, by taking a total of just 21 days or 1 month off work, but that is still manageable and far better that taking a complete break. It is beyond doubt that this is a rigorous program founded on
the base of intensive pace, but the benefits are clear. To start, you won’t have to sacrifice a regular paycheck or risk losing a job.
There are huge implications of this immediate and rapid learning transfer are huge. You’ll be able to put classroom theory into practice and add value to your company straight away. Being able to apply the learnings from your Executive MBA to your job immediately is big plus for your employer and makes a strong case when trying to get employer to fund your Executive MBA for your degree.
It can also mean good things for career progression in your current organization. Executives are likely to take notice and be keen to retain the valuable new leadership and management skills you bring to the table. This puts you in a strong position when it comes to negotiating promotions and salary.
The motivation behind studying business at the EMBA level is to marry theory with practice, allowing you to fill knowledge gaps and address some of the most pressing issues faced by today’s business leaders. An EMBA could be the perfect way to enhance your credentials, hone your technical and soft skills, and ground your practical knowledge with a fundamental understanding of the
different functional areas of business administration.
You will definitely enrich your professional network with diverse, fascinating, and successful people. You are sure to meet people along your course who will prove invaluable as friends and mentors, and even as future colleagues or collaborators. Your peers are likely to come from all over the world and bring a diverse range of skills and professional experience to the classroom, allowing you to benefit from their unique perspective and expertise. You may find you’re learning alongside a successful tech entrepreneur, a senior scientist, or the CFO of a multinational company. EMBA surely promises to be an incredible journey with new insights and perspectives into global business practices and an enviable network of connections who will prove an important asset throughout your career.
When discussing about career prospects, one needs to consider what will be your earning potential after the EMBA. According to the Huffington Post, EMBA degrees can pay for themselves in as early as 17 months, even when students are on the hook for all of their tuition. Forbes found that the average salary and bonus package for EMBA graduates rose from a start of $155,848 to $181,965. They also wrote that EMBA degrees often lead to promotions, especially for people working in finance, marketing and accounting. Often, not only can it ad to a promotion, but your employer may assist or cover tuition.
According to PayScale, some EMBA graduates go on to fill roles like Chief Executive Officer ($228,379), Chief Financial Officer ($162,817), Director of Operations ($121,522), Marketing Director ($129,571), Chief Operating Officer ($168,071), Vice President of Operations ($153,192), and Operations Manager ($82,293). The job satisfaction level among EMBA graduates are generally high. Popular destinations for these degree holders are often big cities which include New York, Atlanta, Houston, Chicago and Dallas. Many EMBA holders work for giants like Amazon, Microsoft, Oracle, J.P. Morgan Chase.
Start your own enterprise
Also if youare looking to start your own enterprise, an EMBA can present you with a unique opportunity. Its part-time, generally 12-24 month delivery schedule allows you to continue working at your current job, and pushes you to do more than you thought possible. If you’re going to be successful working for yourself, this will be a crash course in not just the effort that will require, but what steps you’ll actually need to take to get your business off the ground and expanding. One of the main draws of an EMBA program are the people you’ll meet. Students often join together to partner on business plans they work on in school, then execute upon graduation. Learning alongside others is a great way to breed solidarity and discover common goals. When you’re older and entrenched in your workplace and social life, it can be hard to connect with new people that compliment your weaknesses with opposing strengths. EMBA programs are hotbeds of people with different talents, experiences and ideas that are actively looking to improve their careers, just like you are. That’s an immense value in itself.
But one should be very careful and do a lot of due diligence before selecting an EMBA program. One of the main complaints from EMBA graduates is that their programs didn’t do enough to help advance careers outside of the classroom, so making sure to pick a program that is known for its support will be very useful in developing your career prospects before you even graduate. It’s your chance to continue earning money and meeting your responsibilities, build skills and knowledge for the future, and create/explore opportunities, all over a year or two, while earning a degree that boosts your resume. When thinking about your post-EMBA career prospects, you should consider the industry you work in (or want to work in). Take time out to research the different EMBA programs offered by some top-ranked business schools and choose wisely considering all the factors.
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