Mar 3 2011
Every executive thinks about further education at least once in their career, contemplating when they should study and if it is worth the investment.
In response to CNBC's question, Is an Ivy League Diploma worth the cost of admission? Elena Bajic, founder and CEO of Ivy Exec, responded, “An Ivy League education makes a candidate stand out, even before a recruiter talks to them.” In application to executive education the same standard applies across the world, executive recruiters take note of professionals who attended the best schools and corporations often have direct hiring connections with the same insitutions.
Former COO of Morgan Stanley Europe, May Busch, points out that saving cash on the short term may not offer you the best value overall. Advising on investing for the longterm, Busch offers 6 questions to ask before deciding which path is correct for you - 6 Ways to Assess Executive Job Opportunites and Executive Education Programs
So is an MBA or EMBA worth the money?
The simple answer is yes. I have yet to come across a senior executive in BlueSteps that does not have some form of higher education, and more often than not, from the top schools worldwide. Add this to career-changing intellectual stimulus, increased business knowledge, expanded professional network, and an improved executive profile.
To sum up, a senior executive at BAA stated bluntly, 'if you want to get to the next level, executive education is essential.' So the question is not is it worth the money, but how to get that money. The answer is corporate sponsorship (if you're lucky), savings and loans.
With EMBA price tags standing at $50,000 and above, taking the plunge can seem daunting. Instead of dismissing the idea, look at statistics for increased earnings after an MBA or EMBA; your year out of fulltime work and initial investment will soon pay itself back.
So perhaps it is not how, but when.
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This article was inspired by an article posted on Ivy Exec, career resource partner of AESC/BlueSteps. A highly selective, invitation-only career site; IvyExec is founded by a team of Columbia MBAs to address the unique career needs of top executives. Ivy Exec is a trusted recruiting tool used by companies such as JPMorgan, Deutsche Bank, Deloitte, Google, Prada, and other upper echelon firms looking to hire high-calibre executives.
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