Last Updated on October 17, 2023 by Robert C. Hoopes
Title: Decrease in Employer Support for Executive MBAs Revealed in 2023 FT EMBA Ranking
Date: [Insert Date]
[Insert Location] – The latest 2023 FT EMBA Ranking highlights a concerning trend in employer support for senior managers pursuing executive MBAs (EMBAs), with just over half of employers contributing to the cost. This indicates a significant drop in financial assistance compared to previous years.
Topping the ranking are the joint Kellogg-HKUST program and Ceibs, which have managed to retain their first and second positions respectively. However, the overall decline in employer support for EMBA alumni is a cause for concern. Since 2016, the proportion of graduates receiving full employer support has decreased from 29% to 23% in 2023. Simultaneously, the number of alumni without any financial assistance has risen from 38% to 48%.
The decrease in employer financial support can potentially be attributed to various factors, including cost-cutting measures by companies or a reassessment of the EMBA’s value as a retention tool. Despite this trend, the Kellogg-HKUST program continues to exhibit strong demand among students, who are expressing a desire for a “global mindset” despite rising nationalism worldwide.
Within the final rankings, some EMBA programs were jointly run by multiple schools, offering diverse insights from locations such as the US, mainland Europe, and China. The top-ranking program, jointly run by Kellogg and the Hong Kong University of Science and Technology Business School, is proof of the success of such collaborations.
Furthermore, the study highlights a gender disparity in financial support provided by employers, with consistently higher support reported for male alumni compared to their female counterparts.
Key motivations for pursuing an EMBA program were identified as management development, expanding professional networks, and increasing earning potential. The rankings also revealed that US schools performed exceptionally well in terms of academic research, with eight out of the top ten schools falling within this category.
Additionally, only two EMBA providers, IE in Spain and Koç University Graduate School of Business in Turkey, scored equally in terms of full-time male and female faculty representation, indicating the need for continued efforts towards gender balance in academia.
The rankings also acknowledged three institutions for their sustainability efforts. SDA Bocconi School of Management in Italy, BI Norwegian, and IE Business School in Spain secured top spots for their environmental responsibility and low carbon footprints.
Lastly, IE Business School and France’s ESCP Business School were recognized for their dedication to environmental, social, and governance topics, which are seamlessly integrated into their core courses.
These findings from the 2023 FT EMBA Ranking provide valuable insights into the evolving landscape of executive MBAs and highlight the challenges faced by senior managers seeking employer support for their education. It is hoped that these revelations will spark discussions among employers to reconsider the value and long-term benefits of investing in the professional development of their senior leaders.
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