Have you ever asked your boss for a raise? This isn’t a conversation most of us relish, 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.
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.
Getting your employer to pay for your MBA 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.
So, how can you make your case to your boss to pay for your MBA?
1. Know your company
Check out some of the latest MBA news from media outlets across the world. From changes in the business school applicant pool due to current economic trends to a sacked socialist government official heading back to business school, as well as soon-to-be-updated U.S. News and World Report rankings for MBA programs, there’s a lot to share!
- Newly minted MBAs from Stanford’s Graduate School of Business made finance the industry of choice once again this year. Why? Money. And lots of it. Think incredibly lucrative compensation packages. Nearly 30% of 2014 Stanford Graduate School graduates accepted job offers in finance, up from about a 25% last year. Forget those who say finance is out of favor in MBA programs—it’s still very much a top choice. (Quartz)
- Changes in the economy and culture have transformed the makeup of the business school applicant pool. Knowing these trends can help you craft
MBA networking: one of the supposed benefits of attending business school. Part of the job description of an MBA in almost any position includes that elusive, poorly-defined, sometimes awkward activity.
Top Three Quotes About MBA Networking:
“Job opportunities require great networking skills.”
“Business school is a great networking opportunity…think of how much you’re investing in your network…”
“Come to this party, it’s a great networking event!”
The Truth About MBA Networking:
It IS important, and it’s harder than it sounds.
I’ve been in school for less than a semester, and I’ve already lost count of the events I’ve been invited to that have been touted as “networking opportunities.” It starts to make one feel guilty—if I can’t make that Happy Hour or attend that CEO Q&A, have I missed a priceless networking opportunity? Are future investors even now accepting someone else’s business card? What if my future boss … Read full post
Although quantifying a school’s profile certainly does not tell you everything, it can sometimes be helpful in simplifying the many differences between the various MBA programs. We recently surveyed a number of visitors to our site to get a feel for the concerns, plans, and mind-sets of this season’s MBA applicants.
As part of our informal survey this year, we posed the question “Which business school ranking/survey do you trust the most?”
Given that Bloomberg Businessweek has long been considered by many the premier MBA ranking, we were quite surprised to see that only 5.1% of responders picked it as their most trusted source. Instead, a whopping 46.1% indicated that they view the U.S. News & World Report survey as the most trustworthy, while the Poets & Quants aggregate received the next greatest percentage of the votes, with 33.3%. With just 10.2% and 5.1% of responses, respectively, the Financial Times … Read full post
There are a lot of obvious tips out there about how to get into business school. You probably know to tirelessly study for the GMAT, court old bosses for glowing recommendations, dazzle your interviewer and write arguably the best essays in the history of b-school. Sign, seal, and deliver to the schools of your choice.
What happens next can seem like the proverbial black box. We went behind the scenes with two admissions directors–Sara Neher at University of Virginia Darden School of Business and John Roeder at Vanderbilt Owen Graduate School of Management to hear what takes place around the conference room table.
What is the number one mistake applicants make?
JR: One of the biggest mistakes is on letters of recommendation. Applicants think we will be impressed by a recommendation from a CEO or senator. The best letters of recommendation are always from someone who knows … Read full post
Bloomberg Businessweek has just released its 2014 ranking of full-time MBA programs, and some people may be surprised at certain schools’ new standings. For this survey, schools are ranked according to a myriad of factors, including recruiter marks (employers’ opinions of a program’s graduates) and enrolled student survey responses.
This year’s results certainly show a few major shakeups. Duke Fuqua, which ranked sixth in both 2012 and 2010 (up from eighth in 2008) knocked long-standing first-position holder Chicago Booth from that coveted spot (it is now ranked third). Perhaps even more notably, Harvard Business School (HBS), which has held steady at number two since 2008, dropped to eighth and failed to make the top five for the first time in list history.
I’ve tried out all the typical answers to this question. Sure, there’s the whole increased-earnings-potential, return-on-investment thing, but there are lots of ways to make more money without spending three years and countless hours of time in class as a business school student.
There’s also the speed-your-way-up-the-corporate-ladder answer, which is probably more true, but even then, I’ve climbed pretty high already in my relatively short career—there’s no reason to think that I couldn’t continue to grow professionally without adding the letters MBA to my name.
I know that a career-change is not in the cards—I’m one of those lucky people who really likes her job, so I have no plans to move out of … Read full post
What’s the latest news in business school education today? From the MBA graduates who are making the most money and accruing the least debt to a former basketball player wishing he had gone MBA rather than NBA, let’s dig into the latest business school news.
Average MBA debt or average MBA?
Want to get your MBA? Then remember the number $42,000. That’s the average MBA debt for business school graduates, according to the New America Foundation. Not too bad, considering that that 43% of MBAs are graduating without any debt. But does average MBA debt mean an average MBA education? And if so, are you willing to settle for average? Check out this list of top schools, their average MBA debt load, and what percentage of their students actually carry debt. (Poets & Quants)
Career opportunities meet quality of life in Singapore
Having abundant career … Read full post
It probably doesn’t surprise you to hear that MBA admissions are competitive. However, it may surprise you to hear just how competitive they have recently become.
Business schools are reporting a spike in MBA applications, and that means more people fighting over a handful of spots. The top 25 business schools in the United States admit only around 25% of their applicants, with the most selective business schools’ acceptance rates hovering closer to 10%.
With that said, let’s talk about standing out. You’re in the process of checking off the requirements on your MBA application checklist, but you know you can’t settle for what’s merely required. How are you going to make your application stand out to the top MBA programs of your dreams?
Here is your checklist to becoming a competitive MBA applicant:
Research, research, research
To be competitive, you have to make a case for why … Read full post
The Kellogg School of Management is going positively retro with its rather robust application components this admissions season, requiring two written essays and two video essays. The school seems to actually want to get to know the people who will represent its brand for the next 60 years. Kudos to the Kellogg MBA program! Our analysis follows…
For 2014–2015, the following two essays are required of all applicants:
Essay 1: Resilience. Perseverance. Grit. Call it what you will…. Challenges can build character. Describe a challenging experience you’ve had. How were you tested? What did you learn? (450 words)
Although this is a rather straightforward prompt, executing a response to it could, well, challenge you. Why? Well, most people do not like to admit when they have been knocked down or (heaven forbid!) made mistakes. But Kellogg wants to know that you are a real person—that you have some hard-won victories … Read full post