These Two Industries Still Offer MBA Tuition Coverage
Fewer companies today are sponsoring MBAs, a new study finds.
Bloomberg Businessweek surveyed 10,473 MBA grads from the class of 2018 at 126 schools across the world to see how many received tuition coverage from their employers.
According to the study, 35% of students who returned to work to their previous employer received at least 75% tuition coverage. Of those who received tuition coverage, roughly 57% were employed by consulting companies, financial services companies, or the government.
WANT FUNDING FOR AN MBA? JOIN THE MILITARY
Of all employers funding the MBA, it seems the military is still a powerhouse.
At the Mason School of Business at William and Mary, roughly 20% of its full-time MBA class consists of military personnel.
At the Whitman School of Management at Syracuse University’s online MBA program, that number is 27%.
Nick Armstrong, senior director for research and evaluation at Syracuse University’s Institute for Veterans and Military Families, says the military can provide valuable leadership experience that b-school seek out.
“Veterans bring unmatched leadership and a wealth of lived professional experiences that are highly valuable in classroom settings, particularly those focused on management, strategy, and human resources,” Armstrong tells US News. “In addition, by design, the military reassigns service members into new roles every few years, thereby providing new experiences to learn and grow in different positions.”
CONSULTING STILL RECEIVES SUBSTANTIAL FUNDING
While the army funds a large majority of MBAs, the Bloomberg Businessweek study found that the largest number of students who receive tuition funding for MBAs come from the consulting industry.
Deloitte offers funding for the MBA through its Graduate School Assistance Program (GSAP).
According to Deloitte, employees work for Deloitte for three to four years, attend grad school, and can return to the company as Senior Consultants.
In addition to MBA tuition, Deloitte also offers a technology stipend (for computer-related purchases), discounted GMAT prep, and application support.
Stephen Nabinger, a Deloitte consultant who attended Yale School of Management, says Deloitte sent the most employees to pursue an MBA.
“Some other students had employee sponsorship, but Deloitte was by far the largest on campus,” he tells Bloomberg Businessweek.
For Nabinger, who is now working in Deloitte’s public sector practice, the MBA paid off in the long run.
“I’m doing work I really wanted to do, and things have been going really well,” he tells Bloomberg Businessweek.
Here are the percentage of students who received tuition reimbursement by industry in Bloomberg Businessweek’s survey.