ORANGE, Calif.--(BUSINESS WIRE)--
For the first time in five years, the percentage of students who fully fund their Executive MBA (EMBA) education has declined slightly, according to the results of the 2014 Membership Program Survey of the Executive MBA Council (EMBAC).
The percentage of self-funded students decreased from 41.2 percent in 2013 to 39.8 percent in 2014. Partial sponsorship also increased from 34.7 percent in 2013 to 35.6 percent in 2014, with full sponsorship also increasing from 24 percent in 2013 to 24.6 percent in 2014.
“While this is encouraging, time will tell if it becomes a trend,” says Michael Desiderio, EMBAC executive director. “With organizations facing challenging economic times and accordingly changing their tuition reimbursement policies, we’ve seen the responsibility for financing the degree fall more on students. Even so, business leaders continue to see the value of the EMBA experience.”
In addition, 53 percent of programs offered scholarships and fellowships. Total program costs rose by approximately 2 percent from $73,401 in 2013 to $74,883 in 2014.
EMBAC sponsors its Membership Program Survey each year to help track industry developments. In 2014, 285 member programs throughout the world – or 92 percent – participated in the survey. Survey data also offered the following highlights:
Consistent Demographics
• In 2014, the percentage of women in EMBA programs remained consistent at 25.4 percent. In the past five years, the percentage has ranged from a high of 26.7 percent 2012 to a low of 25.2 percent in 2011.
• The average EMBA student age is 37.5 years, the average years of work experience is 13.7 years, and the average number of years of management experience is 8.7, all statistics that have changed very little in five years.
Global Perspectives
• More students than ever are participating in global experiences, with 93.5 percent of member EMBA programs offering an international trip in 2014 – a 9.2 percent increase over the past five years.
• Popular destinations include China, the United States, Brazil, India, Hong Kong, Chile, and South Africa.
Career and Leadership Development
• More than 92 percent of EMBA programs offer career services.
• More than 72 percent of EMBA programs offer executive coaching, up from 57.9 percent in 2011 and 67.8 percent in 2013.
• Almost 95 percent of programs incorporated an alumni networking event in 2014 compared to 78.1 percent in 2012 and 92 percent in 2013.
• More than 85 percent of programs delivered an executive speaker series compared to 64.1 percent in 2011 and 79.5 percent in 2013.
About EMBAC
EMBAC provides a place for programs to share best practices and gathers industry data. Currently the council includes 230 educational institutions that administer more than 300 EMBA programs worldwide. For additional information, visit www.embac.org. To learn more about the EMBA experience, visit www.executivemba.org.