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Would your career benefit from an EMBA?

An Executive MBA is by no means just another upward step on the executive career ladder. In fact, it’s a transformational business qualification that can provide immense value for people at many crucial points in their professional life – and for those wanting to change careers altogether.

Would your career benefit from an EMBA?
An MBA is an excellent way of refreshing or changing your career. Photo: Getty Images

As long as you have at least eight years of management experience, and motivation to invest in yourself and your career, an EMBA can revive careers that feel in the doldrums, reinvent them in a new industry or help smash a professional glass ceiling. 

Together with EDHEC, one of the leading schools in both France and Europe for executive education, we give examples of career professionals who could reap the benefits of this powerful qualification. 

Early risers

‘Early risers’ are those with a plan to rise through the ranks early in their career. If you know what you want and where you want to be, yes, an EMBA is an ideal way to ensure rapid career progression. An EMBA – especially one that can be completed part-time – allows for the latest strategic thinking and research to be applied in your workplace, with all the career benefits that follow.

An EMBA is, for many organisations, a strong investment in an individual that has long-term benefits. Not only does it expose them to the latest ideas, but also inspires loyalty and employee retention. It can even form a step on a negotiated career plan, giving you stability as you study.

That said, an EMBA can be of solid value to many more than those towards the beginning of their careers.

Career revivers

We can all reach a point where it feels like, professionally, we’re ‘spinning our wheels’. You may seem as if you have reached as far as you can go without further qualification, or that your knowledge and skill base no longer feel as fresh and current as they once did. It could simply be that you feel removed from what you began doing within your organisation in the first place.

An EMBA is the ideal ‘career reviver’ for several reasons. Alongside high-quality teaching, EMBAs often prioritise experiential learning, project-based assessments, and other forms of ‘learning by doing’. EMBAs also, by necessity, expose you to a wide range of experienced professionals within your cohort, each with their knowledge and skills to share.

Speaking of your cohort, you will find they may introduce you to a broad range of management styles and techniques that you can apply to your career. Alongside continuous coaching programs like EDHEC‘s ‘Transform360’, personal development happens both within and outside of the classroom and helps you grow as a leader.

What if you’re looking for something else, however?

Whether you’re wanting to refresh or reinvent your career, an EDHEC MBA is the highly personalised tool you need to thrive. Apply now for March 2023’s intake

Always moving forward: Whether its a seat in the boardroom, or creating the world’s next great app, EMBAs propel careers. Photo: Getty Images

Career changers

For many of us, years of experience lead us to want to try something new. A fresh career calls, in a completely different field – but that doesn’t necessarily mean that you need to start all over again.

EMBAs are ideal for those changing careers as they allow participants to ‘dip their toe’ in various aspects of their new field of work. You can gain a clear understanding of ideas, systems and processes in a structured, supported manner, both in class and throughout the practical components of the qualification.

An EMBA also has incredible value for those going into business for themselves, such as entering the start-up world. Flexible and personalised EMBA programs, like that offered at EDHEC, make sure that you can tailor your program to fill your knowledge gaps, without having to tread over old ground. EMBA graduates are given a comprehensive understanding of business skills, with a global outlook – vital in the digital 21st century.

Ceiling breakers

Perhaps you feel as if there’s a ‘glass ceiling’ within your professional environment – a distinct lack of those like you within senior management. If you feel it’s time to crash through that barrier, an EMBA is an essential tool.

EMBAs are impressive  to senior leaders. They demonstrate a great deal of commitment, in terms of time, energy and sheer hard work. Those graduating from an EMBA program are equipped with the latest in business intelligence and technological understanding. They are a very hard qualification to ignore when it comes time to demand a seat at the table.

What if that’s not recognised within your organisation? Simple – an EMBA turbocharges your employment prospects through your suite of skills and the wide alumni network that you can draw upon.

Your best next step

If you’re still wondering whether an EMBA is right for you at this point in your career, consider the data. In a 2021 survey carried out by EMBAC, the key body overseeing EMBA programs, 39 percent of participants received a promotion before the end of their program and 53 percent were given new responsibilities (and the accompanying salary benefits).

An EMBA can provide immense benefits, no matter where you are in your career journey, whether it’s climbing the organisational ladder, or trying something completely new. Now, it’s time for you to consider the right program for you, one that suits both your personal and professional situation.

EDHEC’s EMBA can be tailored to work for and around you. Learn more about one of Europe’s strongest programs before the next intake begins in March

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WORKING IN FRANCE

Essential French vocab for self-employed people in France

These are some of the most important terms and acronyms you should learn if you’re planning to work for yourself in France.

Essential French vocab for self-employed people in France

Being self-employed in France comes with its fair share of paperwork and bureaucracy, not to mention confusing vocabulary terms that foreigners might be confused by. 

Here are some of the words you might come across if you work for yourself in France;

Business type

Micro-entrepreneur

The official new term for auto-entrepreneur – which is often still used and is pretty interchangeable with the new formal term – and is basically equivalent to ‘sole trader’. This is the simplest form of legal business set-up for a self-employed person in France.

READ ALSO Micro-entrepreneur: How to set up as a small business in France

It operates a simplified structure for taxes and employment rules, and if you go over a maximum earning threshold for your business type, you can re-register.

It’s not the only type of business set-up open to sole traders. Others include…

Entrepreneur Individuel à Responsabilité Limitée (EIRL)

An individual entrepreneur with limited responsibility, where the company is managed by the individual. 

It follows the same scheme as the ‘Entreprise individuelle’ in terms of social contributions and tax. However, there is a possibility with this structure to opt into Corporate Tax. This may seem like a bizarre idea, to pay more tax, but if Corporate Tax is paid, the director’s salary is then deductible from the taxable income of the business.

Entreprise Unipersonnelle à Responsabilité Limitée – EURL 

This means being a one-person company with limited responsibility. This is the creation of an actual company (SARL), but with a single shareholder and share capital.

An EURL has to be registered with the French Register of Commerce. The single shareholder’s responsibility is only equal to that of their contributions, but the manager of the company has criminal and civil liability for any errors committed during the years of their duties.

Société par Actions Simplifiée Unipersonnelle (SASU)

This is a simplified one-person joint stock option company (similar to an Ltd. in England and an LLC in the US). 

Business areas

Activité commerciale

If you own a shop, e-commerce, food stall, or gîtes, you are involved in an activité commerciale.

Activité artisanale

These are manual activities – from the building trade, crafts to hairdressers and beauticians. 

Activité Libérale

AKA Profession Libérale, or intellectual-based services, such as coaches, consultants, teachers, and programmers. 

READ MORE: France’s ‘entrepreneur visa’ and how to apply for it

Other important terms

Chiffre d’affaires

Think turnover, rather than revenue. This is important because, in French, ‘revenu’ is income from a business or (dread phrase incoming) side hustle and is very different for tax purposes.

Cotisations

Social contributions – cotisations are all social charges payable by employers and employees to finance the Social Security system, including the national housing assistance fund (fonds national d’aide au logement – FNAL), Family Allowance (CAF) and Pôle Emploi.

Les salariés doivent également payer deux contributions sociales qui sont la contribution sociale généralisée (CSG) et à la contribution au remboursement de la dette sociale (CRDS). Ces deux contributions sociales ont pour but de financer la protection sociale et combler la dette sociale. La CSG et la CRDS sont des impôts prélevés sur la rémunération des salariés.

READ MORE: Cotisations: Why you might get an unexpected French health bill

Cotisations are all collected by.. 

Urssaf

Unions de Recouvrement des Cotisations de Sécurité Sociale et d’Allocations Familiales – more usually known, because that’s a mouthful, by the acronym Urssaf – are the administrators who collect social security contributions that fund a large part of France’s labyrinthine social security system, including, notably, health insurance.

READ ALSO URSSAF: What is it, how it works, and how it affects you

Siren

The nine-digit Siren is your business ID number. You’ll get one of these when you register your business, along with a 14-digit …

Siret

This acronym stands for Système d’Identification du Répertoire des Établissements. 

This number is, basically, your business ID, plus five more digits that are specific to the location of the establishment. If you change address, you need a new Siret. It should appear on all company invoices – and also on any payslips.

READ MORE: What is a SIRET number and why is it crucial when hiring French tradesmen?

TVA

See TVA, think VAT. It stands for Taxe sur la Valeur Ajoutée, which is French for Value Added Tax. Above certain turnover, businesses have to start collecting TVA, and can also claim back TVA.

Compte Personnel de Formation (CPF)

All employees in France are able to access money each year for free professional training (€800 for unskilled workers, €500 for full-time, skilled workers). The money can also be ‘carried forward’ so if you don’t use it one year, you will have €1,000 to spend the following year.

It’s also available to self-employed people – who pay into the fund as part of their social charges and cotisations.

The money can be for all sorts of professional development or entrepreneurship courses, but of particular use to foreigners it can also be used for driving lessons or French-language lessons.

READ ALSO Mon CPF: What changes with France’s €500-a-year training budget

Contribution Fonciere des Entreprises (CFE)

This is a local tax payable by any company or self-employed person earning more than €5,000 per year, even if they conduct their business at home, at the kitchen table. This one is due every December.

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