The_Executive_MBA:Rise_EMBA_2007.qxd 20/02/2008 16:00 Page 36
programs. Meanwhile, the likes of the Rotman
School at the University of Toronto and St.
Gallen, INSEAD and China’s Tsinghua University
or the London Business School and Columbia
Business School are developing partnership
Executive MBA programs for an internationally
mobile audience.
“The demand for Executive MBA programs is
growing,” reports Begoña de Ros Raventós,
Associate Director of the IESE Global Executive
MBA, whose program had as many as 68% of its
The Executive MBA
participants promoted during the Executive
MBA. “Many participants who did not get a
Alternative
chance to get their MBAs when they were
younger, now want an MBA to acquire new
skills, improve their earning potential, or simply
to be able to lead their teams better. We
The continued growth and popularity of the Executive
estimate that the market has grown by 20% in
MBA across the globe reflects the attractive rewards for
the last 3 years, and it is set to grow at the same
both participants and their employers, ensuring both
rate."
accelerated professional development and enhanced
Kirt Wood, Director of Marketing and
corporate performance.
Admissions at the RSM Erasmus Rotterdam
School of Management, notes that demand for
As Business schools around the world continue
the program is no longer regionally based. This is
to respond to strong demand for their EMBA
because fast-developing economies are looking
programs, the results of a recent survey
to train the new generation of internationally
confirmed the return on investment for those
experienced senior managers to manage
who have made the commitment to an
growth. “We are seeing more enquiries and
Executive MBA. The percentage of students who
students from new markets”, he explains.
received promotions increased from 34% three
“Central Asia in particular is entering the pool in
years ago to 43% last year, according to the
a big way.” And for this new pool of applicants,
2007 Executive MBA Council Survey of their
the EMBA is very often the option of choice.
member schools. The report also identifies a
“This is particularly true I find in developing
sharp salary increase for many students.
economies, where economies are fast moving,
so students are really reluctant to take the time
The natural tendency when people notice
out,” says Glenn Sykes, the London-based
increases in salaries and promotions at the end
Managing Director for Europe of the University
of their EMBAs, is that more and more people
of Chicago Graduate School of Business (GSB).
end up applying. As Bernadette Conraths, Head
of the Kellogg-WHU Executive MBA puts it:
Many industry insiders think this apprehension
“Based on feedback from our alumni and
about losing touch with the job market, the way
corporate partners, I believe that EMBA numbers
one does with a full-time MBA, will spread
are picking up as companies invest more in
further in Western economies also, as most
retention. The demand for quality executives is
poise themselves for a downturn. But such
high, and companies now realize more than ever
growth is not limited to emerging markets. In
that they must invest in employee career
Europe there has also been a steady rise in the
enhancement to retain top managers.”
number of EMBA applicants, who have the
support of their company. “We have noticed a
Destined for senior managers and younger
higher demand for EMBA programs by
executives on a fast-track managerial career, the
companies and by individuals, especially in
Executive MBA has been the growth area in
Germany,” confirms Regina Raschke, Head of
management education over the past five years.
A growing number of schools, such as the Cass
Business School in London and the University of
Virginia's Darden School are launching new
j
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