Hispanic Enterprise - June/July 2008 - (Page 44)

EDUCATION SUCCESS By Jennifer LeClaire BY DEGREES EXECUTIVE MBA ENROLLMENT STILL STRONG IN DOWN ECONOMY espite layoffs and cutbacks, enrollment in executive MBA programs is up. In fact, the Executive MBA Council reports that applications to EMBA programs are up by 25 percent from 2005. EMBAs are not for the faint of heart. There’s the time commitment to squeeze into the work-life balance, and, since most EMBAs are self-sponsored, there’s also a ﬁnancial commitment needed during what are ofﬁcially tough economic times. But the returns can be attractive—so attractive that any short-term time and money constraints might seem small in comparison. And with online programs emerging, even those challenges are diminishing. “Our typical graduate ﬁnds that, within a year or two of graduation, they have taken on new, higher level responsibilities, often with their existing employer but sometimes elsewhere. They ﬁnd a combination 44 D of effects. They know more, but also, because of the degree, they are perceived to know more,” says Susan Samuelson, faculty director of the EMBA program at Boston University. Typical EMBA students possess leadership potential, but need to learn how the various parts of a corporation ﬁt together and affect each other, as well as organizational leadership skills. EMBA students are looking to grants, taking out student loans and reworking their budgets to gain the advantage. The good news is that students see a return on that investment within 45 months, according to the Executive MBA Council, with salary increases averaging 23 percent. The council also reports that 43 percent of students exiting EMBA programs received a promotion. “An indirect beneﬁt of EMBAs is the ability of alumni to help people in their organizations work more collaboratively, increase retention and job satisfaction amongst their teams, and take more responsibility for managing strategic projects,” says Christina Wassenaar, director of the executive management program at The Drucker School at Claremont Graduate University in Claremont, California. Offering a real-world perspective, Jonathan Mazzochi, manager of recruiting Winter, Wyman & Company’s Accounting & Finance Division in New York, warns MBA programs that tout huge salary increases may not take into account how much experience graduates have. “I always encourage people to go for their MBAs part-time so they can continue earning a salary, moving up the ladder and hopefully getting their existing employer to foot some or all of the bill,” Mazzochi says. “Experience will always trump MBAs, but advanced degrees can open up doors especially at high-proﬁle companies.” HISPANIC ENTERPRISE June/July 2008

Table of Contents Feed for the Digital Edition of Hispanic Enterprise - June/July 2008

Hispanic Enterprise - June/July 2008 Contents Briefcase: BIZBUZZ: Business Briefs Briefcase: Dynamic Trends Briefcase: Q&A Briefcase: Trendsetters BizLife: BizTech BizLife: Travel Feature: Target: Hispanics Cover Story: A Legend in His Own Time Feature: Top 25 Franchises Success & Motivation: The Talent Scout Education: Success by Degrees Finance & Investing: A Tough Sell Social Events: Emerge Dallas Politics & Government: The Accidental Americans Managing: Deconstructing Networking

Hispanic Enterprise - June/July 2008

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