Executive MBA (EMBA) graduates received a 13.5% increase in compensation – combined, both salary and bonuses – after program completion, according to a new exit survey of students.
The average salary and bonus package at program start for students in the 2019 survey was $US205,008. By the end of the program, the average salary and bonus package rose to $US232,663.
In addition, 40% of students who completed the survey for the Executive MBA Council (EMBA) received a promotion during the program.
“As changes in technology continue to reshape society, businesses and individuals will look to higher education programs to gain the skills needed to stay competitive in the age of digitalisation and globalisation,” said Michael Desiderio, executive director of EMBAC.
“When you couple the idea of a promotion and prospective salary increases with new skills taught to EMBA graduates, it is clear to see why both students and companies are seeing value in these programs.”
Completing an EMBA program remains one of the most beneficial investments an individual can make to advance their professional career.
As the top skills needed among the global workforce continues to change, the need for professionals proficient in these skills will be at an all-time high.
EMBA programs equip professionals with the skills needed to stand out amongst competitors, making them more desirable in these rapidly changing industries. EMBA programs provide students with development tools and an opportunity to refine a wide variety of leadership skills, such as critical and strategic thinking, teambuilding, understanding of new technologies and other immediately applicable proficiencies.
Results from the 2019 Exit Survey show that 53% of graduates reported an increase in responsibilities while going through the program. And after leaving the program, graduates said the coursework helped improve their strategic thinking, decision-making and leadership skills, among others.
Those who complete the program also have better insight into economic factors impacting businesses today, as well as accounting and financial acuity. EMBAC is the 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.
The survey included 2,390 graduates of primarily U.S. EMBA programs, was conducted by Percept Research and fielded from programs between July 1, 2018, and Aug. 15, 2019.