Stuck in the same job for ages? You might ask your employer to help finance an executive MBA in the hope it will pull you up the career ladder, expand your client network and ultimately improve your earnings.
Compensation for recent EMBA graduates increased by 17.3 percent from course start to end, according to the 2012 Student Exit Benchmarking Survey from the EMBA Council, a global association representing business schools. That’s just as well considering elite EMBA courses can come with six-figure fees.
In 2012, about 30 percent of students had their education funded by their companies, while almost half of EMBA programmes offered scholarships or fellowships, according to the council. EMBA experts said that despite current cost-cutting drives at banks, employers in the financial sector were still generally willing to help with course fees. But to join this elite group of funded students, you must be a manager with a long-term record of high performance and be identified by the bank as a potential senior leader.
“In many instances, top financial institutions are part funding their star performers in middle management to pursue EMBAs,” said Ashish Bhardwaj, vice president, Asia Pacific, Graduate Management Admissions Council. “They want to supplement their existing operational skills with the leadership and strategy skills that an EMBA can impart,” he added.
Richard Johnson, managing director of Chicago Booth Business School in Asia, where a 21-month EMBA costs about S$185k (US$148k), said about 25 to 35 percent of EMBA students at his institution were company funded. About a quarter of Chicago’s EMBA intake in Asia were from the finance industry, he added. “As well as new skills, financial professionals get a new network,” he said.
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