Gurugram, India 24th April: The US was the first to offer the Executive MBA program for professionals seeking to advance in their careers to upper management and executive positions. The first Executive MBA program was created at the University of Chicago’s Booth School of Business in 1943. Many employers at that time saw it as an opportunity to develop the skills of managers while maintaining their involvement in the organization. Since then, the number of executive MBA programs has increased in the US with many programs offering joint degree programs and partnerships with business schools in Europe and Asia.
US Executive MBA market is at late growth stage with approximately 181 business schools offering EMBA program in the country. The domestic students dominated the type of enrollees in the EMBA program in the US in SY’2018 due to high local population in the country looking to enhance their skill sets, coupled with the rising awareness regarding the benefits of the EMBA program among employees and employers in US.
“Four in ten US colleges experienced a decline in international applicants in the fall of 2017 term due to the change in visa policies.”
The largest ethnic groups in the US as of 2017 include Germans (17.1%), African American (14.6%), English, Scottish, and/or Scotch Irish (12.6%), Irish (11.6%), Mexican (10.9%), American native English speaking (6.7%), Italian (5.9%), Polish (3.0%), French (2.9%) and Native American, First Nations, or Alaskan Native (1.6%). These ethnic groups have attributed to the enrollees in the EMBA program.
The highest number of enrollments in EMBA program in US was found to be from IT and healthcare industry. Increase in number of jobs in digital health, insurance, finance, Pharma biotech, venture capital, medical devices and entrepreneurship has aided the enrollment growth. The US Bureau of Labor and Statistics reported that healthcare management jobs are expected to grow 23% each year. Another industry is computer systems design (and related services) which is ranked as one of the 10 fastest-growing industries in US, having posted, on average, 18% growth for the 12 months ended Dec. 31, 2017. Bureau of Labor Statistics, US projects employment in the construction business to be the fastest compared to any industry in the 2018 and 2019.
Analysts at Ken Research in their latest publication “US Executive MBA Market Outlook to 2022 – By Structured and Customized and by EMBA and GEMBA Programs” believe that hybrid pedagogy style (virtual classes + traditional classroom session), content authoring tools to monitor results and content for executive MBA, interactive and case study based curriculum will aid the enrollment for EMBA market.