How Your Career Can Benefit From an Executive MBA

How Your Career Can Benefit From an Executive MBA main image

Sponsored by Warwick Business School

According to GMAC’s latest Alumni Perspectives Survey, the majority of those who embark on an Executive MBA (EMBA) do so in order to better prepare themselves for leadership positions.

The EMBA’s focus on leadership, executive management and professional skill development attracts thousands of business professionals each year who are driven and keen to develop their business and management acumen.

Although the EMBA comes with its challenges, it can have a significant impact on you in both a professional and personal setting. For those who are reluctant to put their career on hold, the EMBA is the best solution as most programs take only between 12-24 months to complete and are also, most crucially, delivered part-time, meaning you can study at your own pace and work it around your career and family.

So, if you want to up your business game and are considering how else an EMBA can benefit your career prospects, read on to find out.

Your earning potential can increase significantly 

According to the latest data from the Executive MBA Council (EMBAC) Student Exit Survey 2018, EMBA graduates receive, on average, a 14.6 percent increase in compensation, such as salary and bonuses.  

In the UK, Warwick Business School (WBS) has recently ranked number one in the QS Global EMBA Rankings 2019 for salary increase as its graduates go on to have an average salary increase of 114 percent.

You can climb the ranks or start your own venture

It’s important to know what you want from an EMBA. Do you want to climb the rungs of the career ladder, or do you want a change of career direction altogether? Or maybe you’re inclined to go your own way and begin your own start-up venture?

The CareersPlus team at Warwick Business School offers a dedicated service which can ensure students have all the support necessary to ensure a smooth transition between their academic career and professional career.

“We have a student-centric approach which is important with Executive MBA students who can have vastly different goals,” said Sarah Jackson, Careers Manager at Warwick Business School.

“Some want to fast track to c-suite and gain an understanding of the language used in the boardroom, and others may want to change their functional role or sector or location or any combination of those three.”

Whatever you decide, you should set realistic expectations, and have a defined career goal in mind. Although experience is something which money can’t buy, the Executive MBA offers unique opportunities and can help you transition to a more diverse career path.

“Understanding how to manage stakeholders, having difficult conversations, dealing with workplace politics and negotiating a future pay rise will help students in their future careers whether they want to progress to c-suite in their existing area of expertise, make a transition or set up their own business,” added Sarah.

It shows your commitment to move up into a more senior position and can therefore put you in a good position for career progression. Depending on your motivations and interests, it can also help take you from being a team leader to being a key driver in business and leading initiatives.

According to PayScale, those who have an EMBA are likely to end up in roles where their annual salary can reach, on average, $228,379 as a chief executive officer.

85 percent of jobs are found via the ‘hidden’ job market – in other words – networking

It isn’t just the EMBA program itself that can have a direct impact on your career progression, so can your cohort. As you study alongside other like-minded business professionals, it’s vital you know the best practice for enriching your professional network.

This is something which Warwick Business School considers a vital element of the Executive MBA program. “We run a series of networking events at both the Warwick campus and WBS London, The Shard, where students get the chance to mix with other MBA cohorts and alumni,” said Sarah.

You’ll be able to reap the immediate rewards at work

Although the EMBA can be intense, you’ll still be able to work – and more importantly – bring your new-found leadership and management skills to the table.

By homing in on your area of expertise, you’ll enhance your value as you understand how theory and practice work well together and plug the knowledge gap in your work – something which your team and employer will value significantly.

Not only will your business acumen improve, but so will your soft skills

“Executive MBA students will graduate from their MBA with a great knowledge of economics, finance and strategy,” said Sarah.

“But if their influencing and leadership skills are poor, then it will be harder to get into the more senior positions where they can embed the learning from their MBA,” she added.

If data analysis is your strong suit, you can focus instead on brushing up on your management skills and introduce fresh ideas to the company while becoming a better leader in the process.

Sarah also told us how the team runs “a number of skills workshops and webinars which are built into the students’ timetables and are designed to coincide with their academic modules and offer them the range of soft skills necessary to be truly effective in their careers.”

Lead image: Warwick Business School

Written by Stephanie Lukins

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