Advantages/disadvantages of employer sponsoring...

Question

I just found out today that the IB division in my company (one of the biggest banks around) sponsors current employees who go on to a FT program at one of the top schools (they list basically the top 20). I currently do not work in IB but have a feeling I might be able to atleast apply for it as my SCP/EVP are really supportive of my b-school plans. So the deal is- I get 100% tuition and internship and job locked in but I have to work for 4 yrs here.

So...my question is, what are the pro's and con's of this? It is a pretty big company and as much as I dont really like my current job, the IB (particularly IM side) is something that might be more interesting. Not having to worry about recruiting (though part of the fun of the whole b-school experience seems like enjoying the recruiting!) etc.

What are peopls opinions on this? Any current students chime in with their thoughts/experiences?

max125 · Answer

Even if the sponsorship might look attractive, I wouldn't take such an offer. It limits your options. Your company might not be able to provide what you are EXACTLY looking for, post MBA. Its an unnecessary commitment. Furthermore, you might actually end up getting an exciting opportunity ( such as Rhyme's VC internship).

So, my suggestion would be to keep your options open. But then, it really depends on what you want!...

So, my suggestion would be to keep your options open. But then, it really depends on what you want!...

ncp · Answer

Atleast, try to find out more information. See if you qualify for that program. With the economy the way it is, it may be a great no-risk opportunity to get into IB. I thought you wanted to do consulting after MBA. In any case, nudge some people and try to get a feel for that program. Try to talk to others who have done that in the past. Did they regret it?

dosa_don · Answer

Nc- consulting is definitely my choice but some of the "areas" quoted in the information brochure seem pretty interesting- emerging markets, corporate banking etc.

Yeah- I need to reach out to some people in here and find out what they thought about it.

Max-I agree with your assesment that it will limit my options but I am thinking along the lines of ncp- that it is a pretty good no risk opportunity if it works out. (or if my company is not bought over by the government of some Middle Eastern country)

Again- I think my chances of getting selected might be slim as I am sure there are a bunch from my company's IB division who are more qualified for it but before I ask my senior managers for some help, want to make sure it is something that is worth it.

dosa_don · Answer

I have decided to apply foro this program. They pay 50% of the tuition- which is a good bit of money for sure. Also, I think as Nc mentioned, it is a pretty good deal in this economy and can definitely try IB- it actually involves Sales and trading, Fixed income trading etc. Interesting.

lanter1 · Answer

plus after your four years you will have an MBA and four years in IB which will open a lot of doors you may not have had without the IB experience.

yellowjacket · Answer

You might want to check if there is some way to do this which is non-binding. A friend of mine who used to work in a top IB got sponsored for his MBA. But, how it works is, he takes out his full loan and he's free to do his internship whereever/whatever he wants. All he has to do is come back after MBA is done. At the end of his first yr, they pay off half his loans and at the end of the second year, they pay off the other half. But, he's free to leave at the end of the first year(and take care of the other half himself) or not come back. You should look to see if that is a possibility

defenestrate · Answer

Sounds to me like a golden opportunity! Like all arrangements there is always a way (however painful) out of them. Four years is a lot of time, but if you want to go into IB, then why not do right now what everyone will be trying to do during school--find a job. While in school you can continue to interview with other schools as part of your program. If another employer gives you an offer you really cannot refuse, there is always a way out of your agreement. You probably just pay the tuition plus some sort of fine (the fine you can pass on to your future employer).

aceman626 · Answer

can you decide after you get admitted into school? If so, I would do this:

If it's a M7 (preferably top3), then dont' do it. You will likely have lots of great opportunities with a top MBA degree.

If its ranked 8-15 ish, then take the offer.

kwam · Answer

dosa Here is something about the same issue: 108-p448361?t=61485#p448361

xerox · Answer

Do it only if you're short of cash now, and there is no way you can get loans. You're narrowing your choices (industry, company, location, position, etc) post-MBA which -- at least to me -- just sucks.

Advantages/disadvantages of employer sponsoring...

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