EMBA Programs Well Positioned to Thrive in 2021, Research Finds

2020 has been a crucial year for gender representation in business education. In fact, a record number of female candidates have been admitted to top-ranked US b-schools during the coronavirus pandemic –a positive trend that was echoed in EMBA admissions too.

Research by EMBAC showed that female enrollment in EMBA programs is now at its higher ever, having reached 32 percent in 2020 compared to 29.7 percent in 2016. With close to one in three new enrollments being women, it seems that b-schools are finally moving towards closing the gender gap in executive education.

The 2020 Student Exit Survey by EMBAC also showed that EMBA graduates continued to land high-end positions and high salaries despite the pandemic.

In fact, this year EMBAs saw a 14.1 percent increase in compensation – including salary and bonuses – after graduation, with an average median salary and bonus package totaling a whopping US$193,200. And there’s more: almost 40 percent of students reported receiving a promotion during their EMBA degree – a relief for EMBA hopefuls worried about return on investment.

Michael said: "Despite a year of unprecedented challenges that have impacted the global economy and workforce, the investment in an Executive MBA continues to be valuable to both students and companies.

“EMBA programs enrich students with new ways of solving business problems and provide them with tools to adapt in the face of adversity. Companies recognize how important these skills are now more than ever and the increases in compensation and responsibilities given to professionals in these programs attest to that.”

A new study by higher education research firm Carrington Crisp showed that the economic uncertainty that characterized 2020 has also changed employers’ perception of EMBA graduates.

The first change concerned purposeful leadership: more than three quarters of employers now believe that b-schools should deliver shorter programs to help students learn relevant skills that will have a positive impact on “wider society” and not just the business industry.

To achieve this, recruiters believe soft skills should take precedence over traditional business skills – such as leadership and management – in EMBA curricula. These include emotional intelligence, intellectual agility, and continuous learning.

Michael believes this is a sign that the relationship between graduates and employers is evolving, revealing a new path for b-schools to take to improve their executive education offerings.

He said: “Economic uncertainty, online learning, lifelong development, remote working, and digital transformation in business schools and other organizations are not new. However, the global pandemic is accelerating these trends.

“Our sector will benefit from a healthy and honest debate about how future ways of learning and work can help leaders in business and business education find new answers to the problems of our time.”

Moreover, he thinks the need for soft skills demonstrates a new, cross-generational trend that’ll dominate the future of business: the importance of inclusivity and innovation at all levels.

So how will this affect the executive education sector in 2021?

Michael said: “The youngest Baby Boomers are close to retirement age. Millennials, who make up most of the workforce, are now rubbing shoulders with Gen Z-ers who are true digital natives. What businesses need from b-schools is people capable of managing a more generationally diverse workforce, since attitudes and lifestyles can diverge and vary significantly.

“Expect business schools to do more to help here in 2021 and build on the good work that they’ve already done in helping business leaders understand how to lead on digital transformation initiatives.”