This post is sponsored by University of Michigan’s Ross School of Business
An Executive MBA degree can yield excellent returns, helping individuals build new skills, manage transitions, expand their professional networks and even earn more. Here are four ways leaders can boost their career trajectory with an EMBA:
- Build the knowledge and capabilities to address changing job or industry requirements. One of the main reasons professionals seek an Executive MBA is to address gaps in knowledge and skills required in key functional areas, like strategy, finance, marketing, operations and supply chain management. Developing new abilities and a deeper understanding of these areas better prepares you to advance your career, enhance your performance and add value to your organization. An Executive MBA degree equips you with a broader view of business and increased confidence that can lead to new and enhanced interactions with senior leaders within and outside of your functional area and role.
- Develop the toolkit you need to succeed in a new career or functional area. Executive MBA programs empower professionals to transition to work in new industries or responsibilities over new functional areas. Many experienced executives have achieved their current levels of success by advancing in one particular area, such as operations, or through their special technical expertise. They have limited exposure to other disciplines, like marketing or finance. An Executive MBA enables them to broaden their skillset across several functional areas with exposure to a wide range of businesses and emerging industries.
- Infuse your network with new professionals who can collaborate, counsel and connect. EMBA programs expose participants to leaders and colleagues in a wide variety of industries and functional areas who are willing to make introductions and provide insights and advice. Students also gain access to alumni who act as career advisors, mentors and industry/vertical experts they can call on during and after the program. And it doesn’t stop there. Many EMBA students describe their fellow participants as lifelong advisory committees—people to rely on for support and guidance long after graduation. Small cohort sizes and on-campus residencies during program dates help to foster these relationships.
- Expand your responsibilities and earning potential. The new skills, deep knowledge and excellent connections accrued during an EMBA program are crucial factors for advancement, especially for executives. According to the Executive MBA Council, more than half (53%) of EMBAs were rewarded with increased responsibility after graduation, and 41% received promotions. As a result, EMBA graduates saw an average increase of 17% in salary and benefits from the time they started the program until they completed their coursework.
That’s a significant return on investment! Ready to learn more? Here are a few to-do’s:
- Determine your requirements (location, schedule and length)
- Understand your financial position and needs
- Review program characteristics such as curriculum, teaching approach and program focus
- Research school and program reputation, especially within your industry
- Assess the quality of the student body and alumni base
Data supports the benefits to getting an EMBA. Learn more now!