{"id":7418,"date":"2017-10-09T15:26:22","date_gmt":"2017-10-09T20:26:22","guid":{"rendered":"http:\/\/www.kaptest.com\/blog\/business-school-insider\/?p=7418"},"modified":"2020-09-11T20:42:16","modified_gmt":"2020-09-11T20:42:16","slug":"asking-your-employer-for-mba-tuition-reimbursement","status":"publish","type":"post","link":"https:\/\/wpapp.kaptest.com\/study\/financing-your-mba\/asking-your-employer-for-mba-tuition-reimbursement\/","title":{"rendered":"Asking Your Employer for MBA Tuition Reimbursement"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Have you ever asked your boss for a raise? It\u2019s not a conversation most of us look forward to, so all too often we put it off, hoping our bosses will just notice all the amazing things we do and eagerly reward us when we obliquely bring up the uncomfortable topic of earning more money.<\/span><br \/>\n<span style=\"font-weight: 400\">Asking your employer to provide MBA tuition reimbursement is not unlike asking for a raise, and you have similarly low chances of success if you apply the evasive strategy above.<\/span><br \/>\n<span style=\"font-weight: 400\">Getting your employer to pay for you to attend business school requires that you make a compelling case to convince him or her of your value to the company and the value of that future degree in your hands.<\/span><br \/>\n<span style=\"font-weight: 400\">So, how can you make the case to your boss for funding your MBA?<\/span><br \/>\n&nbsp;<br \/>\n<div  class='avia-icon-list-container   avia-builder-el-0  avia-builder-el-no-sibling '><ul class='avia-icon-list avia-icon-list-left av-iconlist-big avia_animate_when_almost_visible avia-iconlist-animate'>\n<li><div  class='iconlist_icon  avia-font-entypo-fontello'><span class='iconlist-char ' aria-hidden='true' data-av_icon='\ue816' data-av_iconfont='entypo-fontello'><\/span><\/div><article class=\"article-icon-entry \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='iconlist_content_wrap'><header class=\"entry-content-header\"><h4 class='av_iconlist_title iconlist_title   '  itemprop=\"headline\"  >1. Know the tuition reimbursement policy<\/h4><\/header><div class='iconlist_content  '  itemprop=\"text\"  ><p><span style=\"font-weight: 400\">The process starts with\u00a0<\/span><a href=\"https:\/\/onlinemba.unc.edu\/blog\/financing-your-mba\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">doing your homework<\/span><\/a><span style=\"font-weight: 400\">. Read your employee handbook or talk to human resources to find out if your company has a standard tuition assistance or sponsorship program in place.<\/span><br \/>\n<span style=\"font-weight: 400\">Consider the company\u2019s current economic situation to time your request for the best chances of success. Just as you probably wouldn\u2019t\u00a0<\/span><a href=\"https:\/\/www.forbes.com\/sites\/learnvest\/2014\/05\/07\/how-to-ask-for-a-raise-and-get-it\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">ask for a raise<\/span><\/a><span style=\"font-weight: 400\">\u00a0when your company is cutting expenses or laying people off, you shouldn\u2019t request money for business school if your company is struggling.<\/span><\/p>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><div class='iconlist-timeline'><\/div><\/li>\n<li><div  class='iconlist_icon  avia-font-entypo-fontello'><span class='iconlist-char ' aria-hidden='true' data-av_icon='\ue816' data-av_iconfont='entypo-fontello'><\/span><\/div><article class=\"article-icon-entry \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='iconlist_content_wrap'><header class=\"entry-content-header\"><h4 class='av_iconlist_title iconlist_title   '  itemprop=\"headline\"  >2. Network with MBAs at work<\/h4><\/header><div class='iconlist_content  '  itemprop=\"text\"  ><p><span style=\"font-weight: 400\">If your company doesn\u2019t have a formal procedure for assistance, start networking! Talk to colleagues who\u2019ve earned their MBAs while working to ascertain whether there is a precedent for your company funding employees\u2019 higher education.<\/span><br \/>\n<span style=\"font-weight: 400\">It is also important to\u00a0<\/span><a href=\"https:\/\/executivemba.wharton.upenn.edu\/admissions\/tips-approaching-sponsorship-employer\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">establish relationships<\/span><\/a><span style=\"font-weight: 400\">\u00a0and gather allies to help make your case for MBA tuition reimbursement. This could even be your direct supervisor or a close mentor. Start the conversation early to get the support and advice from others that will ultimately strengthen your case.<\/span><\/p>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><div class='iconlist-timeline'><\/div><\/li>\n<li><div  class='iconlist_icon  avia-font-entypo-fontello'><span class='iconlist-char ' aria-hidden='true' data-av_icon='\ue816' data-av_iconfont='entypo-fontello'><\/span><\/div><article class=\"article-icon-entry \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='iconlist_content_wrap'><header class=\"entry-content-header\"><h4 class='av_iconlist_title iconlist_title   '  itemprop=\"headline\"  >3. Sell the ROI of an MBA\u2014for your company<\/h4><\/header><div class='iconlist_content  '  itemprop=\"text\"  ><p><span style=\"font-weight: 400\">Remember, this isn\u2019t about why business school is great for you. We frequently hear about the personal value of an MBA, and how the degree translates to a\u00a0<\/span><a href=\"http:\/\/poetsandquants.com\/2016\/11\/17\/time-record-pay-stanford-mbas\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">higher salary<\/span><\/a><span style=\"font-weight: 400\">, but do you think that is going to convince your employer? No way.<\/span><br \/>\n<span style=\"font-weight: 400\">You have to make your employer see the specific benefit to the company of you receiving an MBA\u2014how this will help you help the company\u2019s bottom line or resolve some of its most challenging issues. Highlight the measurable value your company can expect from you obtaining your MBA.<\/span><\/p>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><div class='iconlist-timeline'><\/div><\/li>\n<li><div  class='iconlist_icon  avia-font-entypo-fontello'><span class='iconlist-char ' aria-hidden='true' data-av_icon='\ue816' data-av_iconfont='entypo-fontello'><\/span><\/div><article class=\"article-icon-entry \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='iconlist_content_wrap'><header class=\"entry-content-header\"><h4 class='av_iconlist_title iconlist_title   '  itemprop=\"headline\"  >4. Highlight program specifics<\/h4><\/header><div class='iconlist_content  '  itemprop=\"text\"  ><p><span style=\"font-weight: 400\">Although, as previously mentioned, you can and should start the conversation about your desire to earn your MBA early on with key allies at your company, you shouldn\u2019t make your case for getting financial aid from your employer until you can speak knowledgeably about a specific program. Pointing out the key features of a particular business school will help make your case for employer support more convincing.<\/span><br \/>\n<span style=\"font-weight: 400\">Keep in mind that you can use your future business school as a resource\u2014they are often very helpful in this regard. For example, University of Pennsylvania\u2019s Wharton School of Business provides\u00a0<\/span><a href=\"https:\/\/executivemba.wharton.upenn.edu\/wp-content\/uploads\/sponsorship_request_traditional.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">sample sponsorship requests<\/span><\/a><span style=\"font-weight: 400\">\u00a0to aid applicants in their formal proposals for financial support and includes key benefits of Wharton\u2019s Executive MBA Program.<\/span><\/p>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><div class='iconlist-timeline'><\/div><\/li>\n<li><div  class='iconlist_icon  avia-font-entypo-fontello'><span class='iconlist-char ' aria-hidden='true' data-av_icon='\ue816' data-av_iconfont='entypo-fontello'><\/span><\/div><article class=\"article-icon-entry \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='iconlist_content_wrap'><header class=\"entry-content-header\"><h4 class='av_iconlist_title iconlist_title   '  itemprop=\"headline\"  >5. Call attention to your strong work performance<\/h4><\/header><div class='iconlist_content  '  itemprop=\"text\"  ><p><span style=\"font-weight: 400\">In preparing your proposal for financial support, focus on the concrete, positive ways you\u2019ve\u00a0<\/span><a href=\"http:\/\/www.businessinsider.com\/how-to-get-your-employer-to-pay-for-your-mba-roderick-lewis-2012-11\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">impacted your company<\/span><\/a><span style=\"font-weight: 400\">. Remember, you\u2019re approaching this conversation as though you were asking for a raise. It is very difficult to convince your employer to sponsor your MBA if you haven\u2019t demonstrated your value as an employee.<\/span><br \/>\n<span style=\"font-weight: 400\">Note the measurable results you\u2019ve delivered on projects you\u2019ve been in charge of. If you can quantify your impact on the company in terms of actual sales or saving the company money, that will make the most effective case for your value to the company, and will increase the likelihood that your superiors will want to invest in increasing that value.<\/span><\/p>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><div class='iconlist-timeline'><\/div><\/li>\n<li><div  class='iconlist_icon  avia-font-entypo-fontello'><span class='iconlist-char ' aria-hidden='true' data-av_icon='\ue816' data-av_iconfont='entypo-fontello'><\/span><\/div><article class=\"article-icon-entry \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='iconlist_content_wrap'><header class=\"entry-content-header\"><h4 class='av_iconlist_title iconlist_title   '  itemprop=\"headline\"  >6. Know what kind of financial assistance you\u2019re asking for<\/h4><\/header><div class='iconlist_content  '  itemprop=\"text\"  ><p>When you ask for a raise, a vague request for \u201cmore\u201d likely won\u2019t yield the desired result. Similarly, asking your employer to \u201cget MBA tuition reimbursement,\u201d without specifically outlining the amount you\u2019re requesting won\u2019t be successful. Your proposal should be specific and professional.<br \/>\n<span style=\"font-weight: 400\">You need to understand the tuition and other costs associated with your chosen MBA program and know specifically how much of those costs you are asking your employer to pay.<\/span><br \/>\n<span style=\"font-weight: 400\">Business school isn\u2019t cheap, with the\u00a0<\/span><a href=\"https:\/\/www.usnews.com\/education\/best-graduate-schools\/top-business-schools\/articles\/2017-07-07\/see-average-debt-starting-salaries-for-mba-grads-at-top-b-schools\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">average debt of graduates<\/span><\/a><span style=\"font-weight: 400\">\u00a0from at least seven top business schools in 2016 was more than $100,000. You will likely need to obtain\u00a0<\/span><a href=\"https:\/\/www.usnews.com\/education\/best-graduate-schools\/paying\/articles\/2017-02-27\/facts-about-borrowing-specialized-mba-loans\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">loans<\/span><\/a><span style=\"font-weight: 400\">,\u00a0<\/span><a href=\"https:\/\/www.kaptest.com\/blog\/business-school-insider\/2015\/11\/06\/how-to-cash-in-on-mba-scholarships\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">scholarships<\/span><\/a><span style=\"font-weight: 400\">\u00a0(possibly with the help of\u00a0<\/span><a href=\"https:\/\/www.kaptest.com\/blog\/business-school-insider\/2016\/06\/02\/the-average-gmat-score-is-not-so-average\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">a great GMAT score<\/span><\/a><span style=\"font-weight: 400\">), or government assistance, in addition to employer support.<\/span><\/p>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><div class='iconlist-timeline'><\/div><\/li>\n<li><div  class='iconlist_icon  avia-font-entypo-fontello'><span class='iconlist-char ' aria-hidden='true' data-av_icon='\ue816' data-av_iconfont='entypo-fontello'><\/span><\/div><article class=\"article-icon-entry \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='iconlist_content_wrap'><header class=\"entry-content-header\"><h4 class='av_iconlist_title iconlist_title   '  itemprop=\"headline\"  >7. Beware\u2014there may be a catch<\/h4><\/header><div class='iconlist_content  '  itemprop=\"text\"  ><p>If you do secure MBA tuition reimbursement from your employer, congratulations! Just make sure that you clearly understand the\u00a0<a href=\"http:\/\/www8.gsb.columbia.edu\/programs\/executive-mba\/sponsorship\" target=\"_blank\" rel=\"noopener noreferrer\">terms of the agreement<\/a>. One of employers\u2019 biggest fears is losing you after you get your MBA; they want to invest in future leaders who will drive company performance.<br \/>\nTo protect their interests, your employer may add stipulations, requiring you to achieve a certain GPA, maintain your current level of job performance, or sign an employment contract guaranteeing you\u2019ll stay with the company for a certain number of years. Before you agree to anything, consider your career goals carefully to ensure they align with your company, and clearly outline your post-MBA expectations (raise, promotion, etc).<br \/>\nAlso, don\u2019t forget about taxes! That\u2019s right, you may need to pay income tax on employer-provided educational assistance. Make sure you understand the\u00a0<a href=\"http:\/\/www.irs.gov\/publications\/p970\/ch11.html\" target=\"_blank\" rel=\"noopener noreferrer\">IRS\u2019 rules<\/a>\u00a0in this regard, double-check your W-2\u2019s, and talk to your HR department for more details.<\/p>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article><div class='iconlist-timeline'><\/div><\/li>\n<\/ul><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Have you ever asked your boss for a raise? It\u2019s not a conversation most of us look forward to, so all too often we put it off, hoping our bosses will just notice all the amazing things we do and eagerly reward us when we obliquely bring up the uncomfortable topic of earning more money. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[530],"tags":[360,529,56,459,531],"_links":{"self":[{"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/posts\/7418"}],"collection":[{"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/comments?post=7418"}],"version-history":[{"count":5,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/posts\/7418\/revisions"}],"predecessor-version":[{"id":35870,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/posts\/7418\/revisions\/35870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/media\/28699"}],"wp:attachment":[{"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/media?parent=7418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/categories?post=7418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpapp.kaptest.com\/study\/wp-json\/wp\/v2\/tags?post=7418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}