If you’re looking to boost your professional game or give yourself more of a competitive edge when applying for career positions or building a business, then you might have considered enrolling on an executive MBA program. An EMBA will allow you to keep working whilst studying for your MBA, and since they are generally offered with a fast-track option, you could be looking to significantly improve your resume in less than two years. An EMBA degree can position you for a promotion in various industries, or give you the head start needed to begin a profitable business of your own. But, is it worth the investment?
Opportunities Not Guaranteed:
Before investing your money and time in studying for an executive MBA program, it’s important to bear in mind that opportunities afterwards are not always guaranteed, especially with employers now reimbursing for less than they once did. If you are currently employed and are lucky enough to be in a position where your employer is encouraging you to study further with the offer of a promotion at the end, then it’s probably worth investing your money in and even asking your employer if they will be able to help with the cost. An online executive MBA is an attractive option for anybody hoping to continue working whilst studying.
Student Debt:
Bear in mind that committing to an executive masters in business administration will usually also mean that you’re prepared to take on student debt. In general, many students will borrow in excess of $50,000 to study for an executive MBA, with some graduating with an average debt level of over $100,000. It’s certainly worth considering whether this level of debt is going to pay off in your future career. Bear in mind that studying for your executive masters of business administration online could help to drive your debt levels down, since online programs tend to be priced lower.
Over-Qualification:
When it comes to studying for an EMBA program, one of the biggest drawbacks mentioned by students on these courses is that employers are not usually brought in to interview them and hold careers fairs, in contrast to regular MBA programs. The reason for this is that the average age of an EMBA student is around thirty-seven years old, and most will have around 14-15 years of work experience with many still employed whilst studying. Because of this, they are often seen as over-qualified for graduate and entry-level positions. If you’re currently unemployed or looking for a career change, a regular MBA program may be the better choice for you.
Earning Potential:
The type of money that you can expect to earn after graduating from an EMBA program will depend on the type of career and industry that you wish to pursue. However, it’s worth noting that in general, the average salary and bonus package for EMBA graduates is on the rise, currently sitting at around $180,000. In addition, a high percentage of graduates report receiving promotions whilst studying for the program.
Do you think that an EMBA is a good investment for you? We’d love to hear from you!