More Executive MBA students look to switch careers

Laura Glaab thought she would slow down her career after having twins. But, instead of stepping back, she found motherhood inspired her to aim higher and change direction: in 2020, she applied for the Executive MBA programme at Kellogg School of Management in Illinois.

Rather than chasing a promotion at the Colorado school where she was head of academics, she used the two-year EMBA as a springboard to reinvent her career — as a growing number of participants are doing. In 2021, she became vice-president of customer engagement and strategic initiatives at Amira Learning, an AI-driven education company based in San Francisco.

The American financed the degree herself, without the corporate sponsorship many students have traditionally relied on to fund an expensive EMBA, which is often studied while working full-time. Tuition fees for Kellogg’s EMBA are now $195,934. “Gone are the days of checking an EMBA box simply for a promotion in the company you’ve been with for 20 years,” Glaab says.

Her story is part of a growing trend. In a shift from historical norms, more EMBA candidates are using the degree to reinvent their careers, not just climb the corporate ladder.

My career transition depended heavily on the people I met and the support they offered

Data from the FT’s 2024 EMBA ranking shows that more than 40 per cent of surveyed alumni who graduated in 2021 scored changing career or employer within the same or another sector at nine or 10 out of 10 as a motivation for enrolling. This is up about 10 percentage points on those who completed their degree in 2019.

Glaab says the programme was instrumental in her career switch. A career coach, Michele Mesnik, helped her focus on roles that aligned with her passions, while the alumni network also proved valuable: when considering another job, a quick text to an EMBA classmate helped her make the right decision to pass.

“My career transition depended heavily on the people I met and the support they offered — during my two years [in the EMBA] and after,” she says.

Higher education consultant Andrew Crisp has observed the shift towards participants making similar switches. “A growing number are using an EMBA to change direction rather than advancing in their current organisation,” he says.

According to data collected in 2023 by the Graduate Management Admission Council (GMAC), 56 per cent of prospective EMBA candidates in western Europe are now seeking to switch industries or job functions, with 65 per cent planning to use personal savings to fund their studies.

“The percentage of self-funded students has increased,” says Nalisha Patel, regional director for Europe at GMAC, which runs business school entrance exams. She attributes this long-term shift partly to reduced corporate financial support, especially in the wake of the Covid-19 pandemic.

Self-funding an EMBA can be a hefty financial commitment — top programmes often cost more than $200,000 — but many students, like Glaab, appear to feel the investment is worth it. Without employer sponsorship, they have more flexibility to explore new fields or start their own business, as they are not bound by their company’s expectations or required to return to the same role after completing their degree.

Executive MBA Ranking 2024

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Business schools are adapting to this trend by adjusting their EMBA programmes. At ESMT Berlin, for example, new courses on communication and networking are designed partly to help EMBA students transition into new roles.

“Executives are more likely to find their next opportunity from these relationships, so we have built in alignment between the curriculum and alumni,” says Rebecca Loades, director of all MBA programmes at ESMT.

Career services are also stepping up to support career changers. Tailored coaching, mentorship and networking opportunities are commonplace on many EMBA programmes. At the University of Oxford’s Saïd Business School, for example, students may receive personalised coaching and attend workshops on personal branding.

Saïd also partners with executive search firms and hosts events to help EMBA students make transitions, such as moving from corporate roles to non-executive directorships. “We want our students to reflect, discover and activate their career journeys,” says Helen Saward, EMBA programme director at Saïd.

It can be challenging to take a step back in title or pay, as some candidates might be seen as ‘overqualified’

Switching careers through an EMBA comes with challenges. Career changers can face scepticism from employers, who may question their lack of experience in a new field. They might have to take on lower-level roles to get a foot in the door, advisers say.

“It can be challenging to take a step back in title or pay, as some candidates might be seen as ‘overqualified’,” says Bill Chionis, a principal admissions consultant at Stacy Blackman Consulting, who advises prospective students.

“It may be necessary to take a step back in order to move forward,” agrees Eliza Shanley, senior director of the Career Center for Working Professionals at New York University’s Stern School of Business.

“Making a pivot requires a strong argument for how your skills will translate. Hiring managers tend to seek candidates who already have functional expertise and can hit the ground running.”

Despite these hurdles, business schools say many career changers find the long-term benefits outweigh the initial challenges.

Nora Rothman’s experience during her EMBA at New York’s Columbia Business School from 2020-22 is a testament to this. Coming from the public sector and passionate about tackling climate change, she noticed that tech companies seemed to be moving faster than governments in addressing environmental challenges.

So she made the shift into climate tech, with her EMBA playing a crucial role. A summer internship at electric-vehicle maker Tesla, in 2021, taught her the product management skills she needed and led to a full-time role at the company.

While internships are not typical in EMBA programmes, some schools, like Columbia, facilitate them to help students pivot into new industries. Rothman credits her career coach, James Wu, with smoothing her transition. She now works as head of product at Toucan, a New York company that builds infrastructure for carbon credit markets.

“The EMBA makes seeking a job in a new field — and all the conversations around it — much easier,” she says.