If you ever wonder whether you fit the typical profile of an EMBA applicant or want to know more about the latest trends of EMBA programs, take a look at these important facts!
- The U.S.-based EMBA Council lists about 250 EMBA programs from 180 leading institutions around the world on its web site.
- Because of rapid globalization, most EMBA classes comprise students from a wide range of industry sectors and countries.
- An EMBA program can cost up to $100,000. Customized courses start at a few hundred dollars. An increasing number of executive education organizations offer online courses.
- Customized executive education programs are on the rise. Duke University’s corporate education division reports growth of 25 percent a year for custom-made courses.
- A typical EMBA student is likely to be in his/her early 30s and will have six to ten years of working experience.
- Employees taking Executive Master’s of Business Administration Programs in the U.S., Europe & Asia have average salaries of $130,000 to $200,000.
- Executives enrolled in the highest-ranking EMBA programs in the U.S. have salaries of $180,000 to $200,000. Europe is slightly lower at $130,000 to $160,000.
Vanderbilt University’s Owen Graduate School of Management has offered a prestigious EMBA degree for working professionals for 32 years. While the program has a cap of 50 students, enrollment has gone up dramatically since the recession in late 2008. Many of the EMBA students have corporate sponsorship from the corporations who employ them, making the possibility of paying for their EMBA much greater. Tami Fassinger, associate dean for executive programs at the Owen school notices a change in this, claiming, “Compared to 34 percent who had complete corporate sponsorship a year ago, only 12 percent had full scholarship in 2009.”
Due to the concern of finding time to complete an MBA, the school changed their schedule from an alternating Friday-Saturday to one on Saturday only. Fassinger explains:
“We watched the economic stress all businesses were under starting in October 2008. We thought changing the schedule was the right thing to do: Help people do better work, but don’t make them miss work. After interviewing students and prospective students, the school discovered 90 percent of interested students wanted a Saturday-only option. “
While the economy isn’t what most people would like it to be at this present time, there is one thing to be certain of: people are going back to school with a hunger to be more qualified for the workforce than ever before. To address such a trend, business schools around the world are adapting their curriculum, schedule and career services.
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