{"id":3510,"date":"2013-03-08T17:37:51","date_gmt":"2013-03-09T01:37:51","guid":{"rendered":"https:\/\/magoosh.com\/gmat\/?p=3510"},"modified":"2014-04-14T16:21:37","modified_gmt":"2014-04-14T23:21:37","slug":"guest-post-approaching-your-employer-about-financing-your-mba","status":"publish","type":"post","link":"https:\/\/magoosh.com\/gmat\/guest-post-approaching-your-employer-about-financing-your-mba\/","title":{"rendered":"Approaching your Employer about Financing your MBA"},"content":{"rendered":"

This post was contributed by Meena Dorr, Director of Corporate Relations for MBA@UNC and originally posted here<\/a>.<\/i><\/p>\n

Choosing where to earn your MBA is one of the most important decisions of your professional career.<\/p>\n

Part of that decision will be how to finance your studies, as you consider your options<\/a>, don\u2019t forget to look within your own company.<\/p>\n

Employers have a vested interest in making sure that their employees develop the knowledge, functional expertise and leadership skills to perform at high-levels. By earning your MBA, you can become a high-performing leader in your company who adds value by achieving results.<\/p>\n

In fact, many companies sponsor high potential students in MBA programs as part of their employee retention strategy. Investigate if your firm has a tuition assistance program. Benefits can range from hundreds of dollars to tens of thousands of dollars annually. If your company doesn\u2019t have a formal tuition assistance program, you might be able to convince your management to partially or fully fund your education if you present a compelling case.<\/p>\n

Below are some tips to get you prepared for the \u201cask.\u201d<\/p>\n

 <\/p>\n

Do your homework<\/h2>\n

Before presenting the subject of MBA sponsorship to your supervisor, find out how your company typically handles these requests.<\/p>\n

1. Contact human recourses to find out if tuition reimbursement, official sponsorship or scholarship programs already exist and what procedures are in place.<\/p>\n

2. If your company does not have an established policy, network informally with other employees who have earned advanced degrees while working to learn whether they requested and\/or received sponsorship.<\/p>\n

 <\/p>\n

Outline the costs and benefits<\/h2>\n

Your proposal for corporate sponsorship should outline the costs and benefits of you earning an MBA.<\/p>\n

1. Include how the MBA degree will add value to your company.<\/p>\n

2. Leverage your previous accomplishments, proven loyalty and genuine aspiration to continue to serve the business.<\/p>\n

3. Your proposal should be formal and well thought-out, outlining the support you will need and the return your employer can reasonably expect.<\/p>\n

 <\/p>\n

Preparing your request<\/h2>\n

Corporate sponsorship is a long-term business arrangement that requires significant commitment from you and your employer. Your proposal should be:<\/p>\n

1. Specific, concrete and professional.<\/p>\n

2.\u00a0Specific to the MBA program you want to attend, accompanied with thorough research of the program.<\/p>\n

 <\/p>\n

Consider including:<\/p>\n