I was wondering whether anyone had experience with the HBS PLD program and how would it compare to a top 10 EMBA degree.
Ref.: http://www.exed.hbs.edu/programs/pld/Pages/default.aspx
Thanks!
This PLD thing seems like a cash grab more than anything…
48K is quite steep indeed.
So you’re saying you’ll get significantly more out on an EMBA for this kind of ‘capex’?
Do we have anyone on the forum who is familiar with this program?
The thing is companies recognize an MBA…they won’t necessarily recognize a PLD or executive learning programs like Booth or Warton offer, which also cost $15 - $20k for a week.
I think these universities are diluting their brands by milking their brand names for money. and people say wall street is greedy
gotta make money somehow when your hedge fund allocation returns are lower than your cost inflation…
Hello Everyone, thought to share my perspective with you.
Summary: I have been a CFA Charterholder for approximately 10 years. I am also a graduate of HBS PLD, the Harvard Business School Executive MBA alternative. HBS PLD is an outstanding transformational program. It may not be the right fit for everyone and not everyone is a fit for it. For the right person, it is the best educational, networking and developmental program out there!
Detail: I have been a CFA Charterholder for approximately 10 years. I completed all the exams on first attempt within 2.5 years (Dec, June, June). I have education in other disciplines. My work experience is in corporate finance, investment banking, private equity, venture capital and operations. I have completed HBS PLD.
I chose the program among several top Executive MBA and Executive MBA-like programs including those offered by Wharton, Booth and Stanford. Being a strong believer in speaking with people who have direct experience with the subject matter before forming my opinion, I did extensive research prior to making my decision. This included connecting with several people who did each program and going to information sessions put up by the schools. In researching HBS PLD, I spoke with 8 HBS alumni, including those who did HBS MBA and HBS PLD.
The program met and exceeded my expectations. As one friend mentioned, the school “designed it for real people doing real leadership”. From my perspective, the design of the program is based on a belief that if you have 10+ years of experience, are in demand and have very little spare time - you either already know certain material or have other people doing the related tasks for you / with you. The thinking is there are certain other high level learnings that leaders need to stay relevant, innovate and succeed - those are included. As many things in life, one will get as much out of this program as one puts into the experience.
The school dedicates some of its best professors to teach in the program - the cases, lectures and supplemental materials are outstanding!
HBS PLD’s modular design helps bring together very busy, very successful and dynamic people from around the world. The profile of a participant is roughly: 10+ years of experience; manager or senior executive; working with $75m+ in revenue organizations / working at not-for-profits / business owner. The youngest person in my class was 29, oldest 52 and the average age was 37/38. The class is highly international: participants from 25-35 countries and a multitude of industries (finance, healthcare, food & beverage, government, non-profit, etc.). You learn as much from your classmates as from the professors. You get a good opportunity to develop strong relationships with people in your “Living Group” and many in your class. I have not met a single person who has not come out of the program with friends and supportive contacts for life!
The program also has great leadership coaching, work/personal issue coaching as well as a consulting project (akin to those done by the MBAs). Spending time with classmates outside of school is always a ton of fun!!
Most graduates go on to succeed at their existing work place with their employers reporting a changed attitude, deeper knowledge of various disciplines and a better understanding of the softer side of business. Some feel empowered to change careers, industries or start new businesses.
There is a vibrant community of graduates around the world who converge annually at a global hub for more learnings, networking and fun. The program is getting outstanding support from the powers that be at HBS. Its graduates are doing well and some of them are prominent leaders in their organizations, communities and HBS Clubs around the world.
One fellow HBS PLD graduate said the following: “PLD is more than an MBA. Its a superb challenge to solve problems by applying a cross section of soft leadership and hard business skills while assessing your own self upside down and inside out, coaches you to fix the gaps, then makes you live the changes only to further fix them. And at the end it leaves you an engaged family of lifelong stakeholders.”
Please let me know if you have questions. If you have a serious interest in the program, I would be happy to discuss in further detail.
Best,
BGT, CFA
^What in the? Do you work for admissions office?
@OP. I agree with Ohai that this certainly seems like a cash grab. Unless your employer is paying the cost and/or you think there is some very solid networking and educational value out of this, I wouldn’t do it. Very very few are going to appreciate this on your resume.
E-MBAs are at least somewhat recognized and can actually have great value for you and your firm. It still checks a box, helps some learn some new skills (mngmt and financial), you get access to the alumni network, and looks great on your resume for you and your clients (e.g. if you’re raising LP funds, the LPs like seeing MBA/E-MBA and brand names on the team bios).
One of the major reasons E-MBAs don’t really help much with employment prospects is that by the time you enroll, you already have years of experience and most employers will care largely about that.
As such, I’d be quite cautious with enrolling in any executive program unless your employer is paying (at least part of it) and also lets you take the time off to do it.
I do not work for the admissions office. I am very active in the community of graduates of the program and speak with a number of people deciding between HBS PLD and other programs for experienced professionals. Some chose HBS PLD, some chose other programs based on their preferences and objectives. None of the people who’ve done HBS PLD after speaking with me have been dissatisfied with the outcome. As mentioned, HBS PLD is not for everyone and not everyone is for HBS PLD. It is an excellent Executive MBA alternative offered by the most successful business school in the world. If you private message a legitimate LinkedIn profile, happy to connect with you on there and answer any specific questions or concerns you may have.
I agree with you that there is a lot of value in solid networking, educational content (and assuming you would agree - life experiences). I am telling you, as someone who has actually done it, that people get a lot of those things and a lot of value from HBS PLD.
Your further comments deal with the question of whether to do E-MBA / Executive programs. I think for any level education, experience or age, any investment of time and capital should be based on individual objectives, anticipated returns and related level of risk/cost (not too dissimilar from the discussions in our Level III CFA materials). I agree that if an employer helps with some/all of the cost and time off - that improves the attractiveness of any program. I have classmates whose employers paid for HBS PLD and those who paid themselves. As with everything in life, I am sure some people get more out of it than others. I am sure there are exceptions, but I have not heard of any who did not think they received great value from their time in the program.
Best,
BGT, CFA
Hey BGT. Thanks for your comments. It’s good to get some insight from someone who is engaged in the program. I’m curious if you could quantify any of the benefits you described. So far, you’ve repeatedly asserted that participants in this program have received “great value” from the program or that they “feel” like they have received a meaningful benefit. How would you substantiate this comment? Like any good business argument, cost and benefits should be proven with facts. There is a very popular business book whose point is that rational business choices must be driven by numbers and not feelings.
For instance, if we were describing Harvard Business School MBA graduates, one could easily point to the average $200k annual earnings over the first 20 years of their careers. We could quote any number of surveys of starting salaries, industry placement, or milestones 5 or 10 years into the careers of graduates. Other statistics, like how many Harvard MBAs become company CEOs, could probably be found quite easily as well. Has any similarly useful data been compiled for the PLD program?
Thank you for your comments guys, great inputs!
Ohai raised a few very good questions. Would you be able to comment on some of those BGT?
Ohai. You are welcome. I respect your commitment to gender equality as evidenced by the automatic quote under your message - it’s a topic in which we share interest. Given that quote and the number of “AF points”, I will assume you are on this forum to help people and will interpret your questions and tone of your note in that light.
I understand where you are coming from, but have a different perspective. My view is that rational decision-making is great if cognitive biases are all known and parties on the other side are rational or their biases were considered.
I am not arguing for anything. If I was, any of my arguments would actually include a qualitative and a quantitative component. No financial model is a perfect reflection of reality and behavioral economics is currently at its absolute height with Kahneman, Grant, Sunstein and other authors. As I’ve mentioned, the HBS PLD program may or may not be the right fit for a particular person and the person might not be a fit for the program (or our community). I have shared a bit about my background, described what takes place in the program and have written about my experience and those of my classmates for the benefit of the person who asked the question. I don’t know what quantitative data exists for HBS PLD. As I’ve mentioned, I have seen many get promoted and some change careers or start their businesses - those are my facts.
Further, the question of this post was EMBA vs. HBS PLD. One can’t compare an EMBA or HBS PLD to an MBA program as the ages, experiences and starting positions are different and are more broadly distributed 10+ years out. Please refer to other distinguishing aspects of HBS PLD and comments visa vi MBA in an earlier post.
If one wanted to run an exhaustive average cost / benefit analysis, one would need to factor in:
- investment
- length of the program and the associated opportunity cost
- evaluation timeframe
- currency effects for anyone outside the US
- adjust for people whose compensation is not standard - say heir to an African cocoa processing empire or the head of a not-for-profit providing hearing aid worldwide
- long term impact of knowledge, skills and coaching received
- long term value of the brand, network of graduates and the network of the school at large
- equity, options and other compensation, not just salary
- hours worked, job satisfaction and future development opportunities
- degree to which people stay in touch, improve others lives and create business opportunities together.
Many of us in HBS PLD think that each person has their own way of keeping score and these might not be the same for each: https://hbr.org/2010/07/how-will-you-measure-your-life
WantMyCharter , we live in an imperfect world where people make best possible decisions based on imperfect information. I have not done other executive business programs. I have done HBS PLD and am proud to be its graduate.
The best you can do is get your questions answered by people who know what they are talking about because they have studied, manage people or hire people in the programs. You can apply that knowledge to your objectives and decision-making matrix (whether it’s based on salary increases or a broader mix of objectives). I would encourage you to reach out on LinkedIn to people who’ve done the programs you are researching.
Best,
BGT, CFA
BGT many thanks for taking the time and effort to share your experience and views.
Very much appreciated!
My uncle did one of those programs, he thought it was worth it since he was able to connect with successful C-level people that really helped with his own business in terms of future collaborations/JVs. So I guess it solely depends on if you think you’ll be able to extract value out of the network.
klaudnine , benefits are going to be a different mix to a different degree for different people. What you mention could be part of it.
WantMyCharter, you are welcome! If you fit the profile described earlier and, with the extra knowledge, have a serious interest in HBS PLD, send me a private message with your LinkedIn profile and we can connect further. Either way, good luck with your journey!
Best, BGT, CFA
+1…on top of the $48k, an additional $25k buys you HBS alumni status.
BValGuy, yes and it buys you great knowledge, network and coaching which you need to work to acquire and develop in the program in addition to paying the fees. Some people have been kicked out of the program because they were approaching it the way you intimate and did not do the work.
By comparison, the Wharton EMBA costs $192,000 plus flights every other Friday and Saturday for 2 years plus the associated opportunity cost. Not saying that’s good or bad - all depends on the person’s situation, preferences and objectives.
I don’t have my alumni status yet. The additional program(s) give you more time on campus, learning in specific additional subject and an even greater network. The alumni status at HBS provides the same benefits from the school to all alumni: HBS MBA, HBS PLD, HBS AMP, etc. The HBS PLD alumni are influential on the Dean’s alumni board, on the boards of a number of HBS Clubs around the world and in the HBS community at large.
Best,
BGT, CFA
@ Ohai and CFABLACKBELT Great points. I spoke who did PLD and the guy said it didnt add value to his work. He secretly told that one of his classmates didn’t finish undergrad. 2 years MBA vs 4 weeks PLD is a big difference; Big joke. It is like school vs 4 weeks training. Executive Education; There is no GMAT admission or interview. I guess if your company would sponsor then try but not worth from your own pocket.
@BGT: Curious. You keep promoting and not yet alum? something is wrong on what you are trying to present here and convincing us.
Signing your name BGT, CFA on an Internet forum is a blatant ethics violation.
I assume you are a troll. If not, nice work, dude. It is my dream to also be an expert in Corp, ibanking, PE, venture and Ops with ten years work experience!
shela.us, you’ve probably read a portion of what I wrote. Once again, people have their own objectives and goals - different programs are a better or worse fit for different people.
HBS PLD is 4 modules: 6-7 months in total. Of these, module 2 and 3 are the 4 weeks on campus you mention. Module 1 and 3 involve reading books, cases, doing online classes and group project work. It is absolutely incorrect to call this a 4 week program.
I am not surprised that someone in HBS PLD did not finish undergrad. If that shocks you, it’s simply not a program for you. There is a large percentage of self-made billionaires who did not finish college. I’ve met a very good number of highly successful people who have not done undergrad. There certainly was at least one person who did not finish undergrad in my class - one of the smartest people ever - rising very well in his organization and sent to HBS PLD to get some formal knowledge of the key disciplines and leadership tools. There are also many people who have already MBA, Ph.Ds and Medical Doctors in the program.
Again, I am not promoting anything or trying to convince anyone - everyone needs to do what is best for them. I am sharing my perspective so people can chose for themselves. It’s very easy to publicly and emotively state assumptions for something with which one has no experience. Finishing alumni status can require reading books and cases before you go. Also it’s most helpful when one is able to apply the learnings and conversations with classmates to a specific work or entrepreneurial environment. Some people take 6 months and other up to 5 years before they get alumni status - question of time and where / how they want to apply the learnings.
Best,
BGT, CFA