If you’re glancing into Executive MBA programs, the probabilities are you’re considering evolving your career in some way.
According to the Executive MBA Council's (EMBAC) 2014 Student Exit Benchmarking Survey, average salaries and bonus packages for EMBA students increased from $155,848 at the start of the programme to $181,965 at graduation. Looking at such numbers, it is obvious why EMBA executives, in the same study, have reported high satisfaction levels with their mid-career education.
While gaining new skill sets will definitely enhance your personal brand; however, that’s only a piece of the process – you also need to assess a number of factors when thinking through a career change.
In EMBA, students continue to work their regular jobs, and many participate in programmes funded by their employers. They get transferable skills from these programmes, like communication, leadership, and technological innovation, which they can use to help their colleagues grow.
Executive MBA Programs in India are basically targeted by executives who wish to earn and learn simultaneously and upskill themselves to step up the career ladder.
This degree also enables executives who want to go into leadership positions but need to build their competence and confidence. Hence, most candidates pursuing EMBA aim to become managers at their current organisation or in another one after graduation.
EMBA is also pursued by executives who wish to make a transition to a new career domain amidst their professional journey. Therefore, EMBA provides an intense walkthrough of all the major business areas for those looking for career changes, allowing graduates to specialize in specific fields.
Getting an executive MBA strengthens their business skills and can boost their careers with finance, strategy and leadership skills.
Only finishing the MBA Executive Program will not make you relevant for the new job role. Generally, graduates pursuing Executive MBA programs in India have more than 5-8 years of experience in the same function. Conduct thorough research about the new career journey you want to undertake. Understand the day-to-day responsibilities and check whether you have the skillsets required for the career shift.
If you find something that matches your interest areas, the next phase is to create a specific plan. The spectrum of this strategy floors on how major the leap will be. Assemble a strategy taking into consideration the targeted steps, the limitations involved, and the resources available. Remember that change and growth take time; it is not an overnight process.
You can talk to your classmates in your MBA Executive Program and understand where their career journeys head. At the end of the day, it is also essential to apprehend where your passion lies and what thrills you.
Networking is the most crucial step in your career switch voyage. In the MBA Executive Program, you will meet students from different backgrounds who can give insights into various domains- which will be very helpful for you in the future, especially in terms of ROI. You can also connect with guest speakers, guest lecturers who are often industry experts and alumni network and talk to them about their career, business, and strategy. Networking might not help you instantly, but it can be valuable for your long-term career goals.
The skillset gained during the Executive MBA Program will strengthen your profile and advance you to take the leap in your professional development journey. Showcasing the skills acquired is substantial. Marketing those skills on your resume, as well as creating a social media presence about your personal brand around the network, can prove to be useful in your journey.
Institutions providing Executive MBA in India offer career support & career counselling services as well. The Career Support cells also organize professional networking events, career fairs and similar activities to help students network and interact with experts for future opportunities. Therefore, utilize such services the colleges provide, which will help you land a job after your MBA Executive Program.
Education advancement can entail a salary hike, a turbo-driven path to the C-Suite, a handful of high-level managerial responsibilities. For most mid-career managers considering an EMBA, promotion within one’s industry is the principal focus.
Therefore, for graduates looking forward to making a career switch in professional advancement after an EMBA, it will not be a smooth journey, but it is not impossible. According to EMBAC, an MBA Executive Program graduate sees an average pay hike of about 17%, which is an essential factor to consider considering the ROI since EMBA programs are costlier than Regular MBA programs. But if you use that degree to start anew in a different industry, you may face beginning at a lower salary entry point.
You can consider the MBA for Executive Management Program at BIBS. With the 3rd rank for four consecutive years in Kolkata by TOI & A Grading by CRISIL, BIBS has formulated a 360 Degree knowledge spectrum for working professionals and various networking and placement opportunities, which will help working executives in their career shift journey. Graduates will not only get the chance to gain managerial skills but also an opportunity to learn skills required for making the transition.