A new year is an opportunity to create new career goals. In fact, behavioral scientists have a term for when “salient temporal landmarks” (i.e., New Year’s, holidays, birthdays, etc.) lead to greater willpower for attaining goals: the “fresh start effect.” New Year’s really is a great opportunity to take advantage of this effect when your motivation is at its highest.
For many, a big goal in the New Year might include going back to school in order to switch careers or progress further in their current industry. If you are looking to take your career to new heights and tick off your New Year’s resolutions, business school may be the right choice.
Here are a few ways an EMBA can help you achieve your New Year’s resolutions in 2020.
An Executive MBA degree can help you stay on top of the latest business innovations
One of the best ways to improve the professional side of your life is to update your skill set. Especially if you’ve been out of school for some time, it’s easy to have missed some innovations and concepts that might help your company.
An EMBA is specifically designed for experienced professionals who want to keep their knowledge up to date. Our latest figures show that 68 percent of EMBA applicants have 10 or more years of work experience. Because of this depth of experience, EMBAs focus less on foundational concepts taught in MBA programs and more on advanced concepts that can help you stay at the forefront. Many schools offer targeted EMBAs that specialize in certain industries or fields, such as healthcare or technology, which can help you get the more advanced knowledge you need for your specific career path.
Want to understand how else an EMBA differs from an MBA? Check out Should You Pursue a Part-Time MBA or an Executive MBA? 3 Things to Consider as You Make Your Business School Decision.
Get the promotion you’ve been eyeing through a business school degree
Getting a promotion is another popular New Year’s resolution, whether to make a better income or take on more leadership responsibilities. Perhaps unsurprisingly, getting a raise or salary increase is one of the top career goals for candidates in EMBA programs, with 51 percent describing it as a top goal.
An EMBA can help you meet your goal of a promotion. The 2019 EMBAC Student Exit Survey, for example, found that 40 percent of EMBA students received a promotion while they were in the program. Graduates saw an average 13.5 percent increase in compensation when they completed their Executive MBA degree compared to when they first enrolled. Because you’ll be able to work while doing your EMBA, you won’t have to disrupt your career progression for the sake of going back to school.
Start your own company with the help of an EMBA
Finally, the New Year is an opportunity to pursue what is a dream for many people: starting a business. According to our Prospective Students Survey 2019, 30 percent of EMBA candidates plan to break out on their own and pursue entrepreneurship after graduation. Many schools are responding to this demand by offering EMBAs and courses specifically tailored to entrepreneurs. Others are adding extracurricular offerings—such as in-house start-up incubators and mentorship opportunities with venture capitalists and company founders—which entrepreneurs may find especially useful.
As a graduate business school candidate, you’ll be able to network with peers from various backgrounds, learn from faculty and business leaders, and better understand potential markets. About 13 percent of EMBA alumni become entrepreneurs, the highest proportion (alongside Full-Time One-Year MBA graduates) of any graduate management education program.
Want to earn your EMBA?
Check out how the Executive Assessment graduate business school test can help.