HONG KONG (MarketWatch) — While in the West, a Executive Masters of Business Administration degree can help your career, but in China, it can land you in prison, or so fear many business leaders at state-owned firms.
The trouble started in July, when the Chinese Communist Party’s top personnel agency issued a strict prohibition against members of “the leading cadre” attending any “highly-priced training program.”
According to recent reports, the order has led to a wave of drop-outs by government officials and executives from state-owned enterprises taking courses at China’s most popular business schools.
This, as state media criticize the many “enormously-expensive” EMBA programs as becoming the hotbed for power-for-money deals.
EMBA class sizes have suffered a “significant shrinking” over the past couple months, China National Radio quoted an EMBA program recruiter from a Wuhan-based college as saying on Tuesday.
The programs usually cost hundreds of thousands of yuan, with some top schools charging as much as 620,000 yuan ($100,440), the report said.
China Europe International Business School, said to be one of the country’s best, had already removed the names of three minister-level officials from its EMBA class roll since last week, the Beijing Times reported, citing the school’s website.
The newspaper also said that the elite Cheung Kong Graduate School of Business has seen a wave of departures by state firms’ senior executives, which was preceded by an exodus of government officials studying at the institute.