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str1der
Joined: 02 Feb 2009
Last visit: 27 Apr 2015
Posts: 371
Own Kudos:
Given Kudos: 27
Concentration: General Management, Strategy
Schools: HBS '15 (D) Wharton '15 (D) Tuck '15 (M) Kellogg '15 (WL) Sloan '15 (D) Johnson '15 (A) Owen '15 (A$)
GMAT 1: 690 Q48 V35
GMAT 2: 730 Q49 V42
Products:
Schools: HBS '15 (D) Wharton '15 (D) Tuck '15 (M) Kellogg '15 (WL) Sloan '15 (D) Johnson '15 (A) Owen '15 (A$)
GMAT 2: 730 Q49 V42
Posts: 371
Kudos:
168
11 Feb 2013, 22:37
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Hi All,
I am a regular here and as you will see basis information on the left, I am matriculating at Tuck this fall. Although I am awaiting a final decision from Cornell, unless theres a scholarship involved, my decision won't change.
Interestingly, even though they knew all along, I had a meeting with my employer (the Managing Partner and a Senior Partner) today. I work in a smallish firm (in terms of number of employees) which is at the top of its game in its industry. Also, its a global firm with offices in 57 countries, but each one operates independently under a common brand name (something like KPMG). We are into leadership consulting.
Essentially, they have offered to sponsor my MBA at Tuck. They told me that they see me as a future Partner in the firm, which could be as soon as 4-5 years after I return from my MBA. I may also receive equity in the Indian company, based on my performance. The company will pay for my MBA, and if I choose not to return or leave before X number of years, I will need to pay the firm back over X number of years agreed upon.
The help I need is on corporate sponsorship models that exist in various firms, especially in consulting. My company has never done this before for anyone, and I feel very honoured and privileged to be offered this. However, as they have not done this before, they need me to design the program overall.
Also, any thoughts on whether I should take this up or no - basically, general thoughts on corporate sponsorship. I'm sure the first question many will ask will be what do you want to do. Honestly, as of today, I don't know. Sure, I have a sense of what I think I want to do (mgmt consulting/general management programs) but that may evolve on campus. Also, today I only carry perceptions of what a consulting firm does, how the career shapes up etc. My current firm does not do strategy consulting, but we consult with CEOs and Chairmen of major companies. Over the past 1 year, I have directly consulted with such leaders.
I am a regular here and as you will see basis information on the left, I am matriculating at Tuck this fall. Although I am awaiting a final decision from Cornell, unless theres a scholarship involved, my decision won't change.
Interestingly, even though they knew all along, I had a meeting with my employer (the Managing Partner and a Senior Partner) today. I work in a smallish firm (in terms of number of employees) which is at the top of its game in its industry. Also, its a global firm with offices in 57 countries, but each one operates independently under a common brand name (something like KPMG). We are into leadership consulting.
Essentially, they have offered to sponsor my MBA at Tuck. They told me that they see me as a future Partner in the firm, which could be as soon as 4-5 years after I return from my MBA. I may also receive equity in the Indian company, based on my performance. The company will pay for my MBA, and if I choose not to return or leave before X number of years, I will need to pay the firm back over X number of years agreed upon.
The help I need is on corporate sponsorship models that exist in various firms, especially in consulting. My company has never done this before for anyone, and I feel very honoured and privileged to be offered this. However, as they have not done this before, they need me to design the program overall.
Also, any thoughts on whether I should take this up or no - basically, general thoughts on corporate sponsorship. I'm sure the first question many will ask will be what do you want to do. Honestly, as of today, I don't know. Sure, I have a sense of what I think I want to do (mgmt consulting/general management programs) but that may evolve on campus. Also, today I only carry perceptions of what a consulting firm does, how the career shapes up etc. My current firm does not do strategy consulting, but we consult with CEOs and Chairmen of major companies. Over the past 1 year, I have directly consulted with such leaders.
theK
Joined: 05 Nov 2009
Last visit: 30 Jan 2022
Posts: 126
Given Kudos: 67
Concentration: Strategy, Finance
Schools: Duke '15 (M) Darden '15 (A)
WE:Management Consulting (Consulting)
Congrats on the sponsorship opportunity!
What a great situation to be in! I work for a global consulting firm, and the model that we have is as follows:
Eligibility and Requirements
- Only top 30% of high performers are eligible. Must seek sponsor from leadership team and go through approval process (local, then global). Minimum 2 years with firm.
- There are only 5 approved schools that are deemed to have 'international value'. (Personal opinion: I think it's a restrictively small list, but this is a different topic altogether. There used to be ~10 schools in the list, with other schools to be considered on a case-by-case basis. They've changed it this year. /end rant).
During School
- We're encouraged to do internship at other companies EXCEPT competitors.
- We're expected to work with a managing director assigned as the 'school lead' in promoting the company amongst classmates. This may involve running info sessions or as simple as proactively promoting the benefits of the firm throughout your two years there.
- If you're from one of select emerging markets, your housing and other approved expenses may be part of the sponsorship.
After School
- Once graduated, the expectation is to go back to the region/office that you were part of.
- You're expected to work a minimum of 2 years upon return. If you leave within 2 years, you must pay back the firm on a pro-rata basis i.e. 1/24th of tuition (or total sponsorship) for every month NOT worked.
Let me know if you have any specific question.
Re: whether you should take it up or not, the way I see it is that it depends on what you want to do post-MBA (you're right!) and the minimum of 'X' years you need to work with them upon graduation. What was your original intention of doing an MBA? If you were actually still open to return to the same company prior to hearing about their willingness to sponsor you, AND the opportunities upon your return at the firm are aligned with what you want to do, then that leaves us with the minimum number of years you need to work with them after graduation.
I'd say take it up, go through bus-school and decide towards the end. If you change your mind and are ok with paying back the sponsorship at graduation, as long as the contract has a clause that allows you to do so, you can change your mind then. It'll be a difficult conversation for sure, especially if you have a good relationship with them, but if they're reasonable people, I'm sure they'll understand.
What a great situation to be in! I work for a global consulting firm, and the model that we have is as follows:
Eligibility and Requirements
- Only top 30% of high performers are eligible. Must seek sponsor from leadership team and go through approval process (local, then global). Minimum 2 years with firm.
- There are only 5 approved schools that are deemed to have 'international value'. (Personal opinion: I think it's a restrictively small list, but this is a different topic altogether. There used to be ~10 schools in the list, with other schools to be considered on a case-by-case basis. They've changed it this year. /end rant).
During School
- We're encouraged to do internship at other companies EXCEPT competitors.
- We're expected to work with a managing director assigned as the 'school lead' in promoting the company amongst classmates. This may involve running info sessions or as simple as proactively promoting the benefits of the firm throughout your two years there.
- If you're from one of select emerging markets, your housing and other approved expenses may be part of the sponsorship.
After School
- Once graduated, the expectation is to go back to the region/office that you were part of.
- You're expected to work a minimum of 2 years upon return. If you leave within 2 years, you must pay back the firm on a pro-rata basis i.e. 1/24th of tuition (or total sponsorship) for every month NOT worked.
Let me know if you have any specific question.
Re: whether you should take it up or not, the way I see it is that it depends on what you want to do post-MBA (you're right!) and the minimum of 'X' years you need to work with them upon graduation. What was your original intention of doing an MBA? If you were actually still open to return to the same company prior to hearing about their willingness to sponsor you, AND the opportunities upon your return at the firm are aligned with what you want to do, then that leaves us with the minimum number of years you need to work with them after graduation.
I'd say take it up, go through bus-school and decide towards the end. If you change your mind and are ok with paying back the sponsorship at graduation, as long as the contract has a clause that allows you to do so, you can change your mind then. It'll be a difficult conversation for sure, especially if you have a good relationship with them, but if they're reasonable people, I'm sure they'll understand.
str1der
Joined: 02 Feb 2009
Last visit: 27 Apr 2015
Posts: 371
Own Kudos:
Given Kudos: 27
Concentration: General Management, Strategy
Schools: HBS '15 (D) Wharton '15 (D) Tuck '15 (M) Kellogg '15 (WL) Sloan '15 (D) Johnson '15 (A) Owen '15 (A$)
GMAT 1: 690 Q48 V35
GMAT 2: 730 Q49 V42
Products:
Schools: HBS '15 (D) Wharton '15 (D) Tuck '15 (M) Kellogg '15 (WL) Sloan '15 (D) Johnson '15 (A) Owen '15 (A$)
GMAT 2: 730 Q49 V42
Posts: 371
Kudos:
168
12 Feb 2013, 02:57
Kudos
Bookmarks
theK
Congrats on the sponsorship opportunity!
What a great situation to be in! I work for a global consulting firm, and the model that we have is as follows:
Eligibility and Requirements
- Only top 30% of high performers are eligible. Must seek sponsor from leadership team and go through approval process (local, then global). Minimum 2 years with firm.
- There are only 5 approved schools that are deemed to have 'international value'. (Personal opinion: I think it's a restrictively small list, but this is a different topic altogether. There used to be 10 schools in the list, with other schools to be considered on a case-by-case basis. They've changed it this year. /end rant).
During School
- When at school, we're encouraged to do internship at other companies EXCEPT competitors.
- We're expected to work with a managing director assigned as the 'school lead' in promoting the company amongst classmates. This may involve running info sessions or as simple as proactively promoting the benefits of the firm throughout your two years there.
- If you're from one of select emerging markets, your housing and other approved expenses may be part of the sponsorship.
After School
- Once graduated, the expectation is to go back to the region/office that you were part of.
- You're expected to work a minimum of 2 years upon return. If you leave within 2 years, you must pay back the firm on a pro-rata basis i.e. 1/24th of tuition (or total sponsorship) for every month NOT worked.
Let me know if you have any specific question.
Re: whether you should take it up or not, the way I see it is that it depends on what you want to do post-MBA (you're right!) and the minimum of 'X' years you need to work with them upon graduation. What was your original intention of doing an MBA? If you were actually still open to return to the same company prior to hearing about their willingness to sponsor you, AND the opportunities upon your return at the firm are aligned with what you want to do, then that leaves us with the minimum number of years you need to work with them after graduation.
I'd say take it up, go through bus-school and decide towards the end. If you change your mind and are ok with paying back the sponsorship at graduation, as long as the contract has a clause that allows you to do so, you can change your mind then. It'll be a difficult conversation for sure, especially if you have a good relationship with them, but if they're reasonable people, I'm sure they'll understand.
What a great situation to be in! I work for a global consulting firm, and the model that we have is as follows:
Eligibility and Requirements
- Only top 30% of high performers are eligible. Must seek sponsor from leadership team and go through approval process (local, then global). Minimum 2 years with firm.
- There are only 5 approved schools that are deemed to have 'international value'. (Personal opinion: I think it's a restrictively small list, but this is a different topic altogether. There used to be 10 schools in the list, with other schools to be considered on a case-by-case basis. They've changed it this year. /end rant).
During School
- When at school, we're encouraged to do internship at other companies EXCEPT competitors.
- We're expected to work with a managing director assigned as the 'school lead' in promoting the company amongst classmates. This may involve running info sessions or as simple as proactively promoting the benefits of the firm throughout your two years there.
- If you're from one of select emerging markets, your housing and other approved expenses may be part of the sponsorship.
After School
- Once graduated, the expectation is to go back to the region/office that you were part of.
- You're expected to work a minimum of 2 years upon return. If you leave within 2 years, you must pay back the firm on a pro-rata basis i.e. 1/24th of tuition (or total sponsorship) for every month NOT worked.
Let me know if you have any specific question.
Re: whether you should take it up or not, the way I see it is that it depends on what you want to do post-MBA (you're right!) and the minimum of 'X' years you need to work with them upon graduation. What was your original intention of doing an MBA? If you were actually still open to return to the same company prior to hearing about their willingness to sponsor you, AND the opportunities upon your return at the firm are aligned with what you want to do, then that leaves us with the minimum number of years you need to work with them after graduation.
I'd say take it up, go through bus-school and decide towards the end. If you change your mind and are ok with paying back the sponsorship at graduation, as long as the contract has a clause that allows you to do so, you can change your mind then. It'll be a difficult conversation for sure, especially if you have a good relationship with them, but if they're reasonable people, I'm sure they'll understand.
Thanks for the detailed perspective. Really appreciate it.
The number of years will not be 2 for sure. Reasons are 1) first time they are sponsoring someone. Even if they look at it as a loan, paying back your loan in 2 years is a misnomer (assuming $100k + debt). This will more likely be 4 years. Plus, although I am the only non MBA they have ever hired, having an MBA doesnt propel your career (vresus a Bain, BCG etc.) - it works differently in India , 2) the equation is different. The conversation I had was centered around my becoming a partner at the firm. Sure, no one can guarantee that. But the intent is there and needs to be realized by both me, and the firm providing me the support.
Career wise, it sounds good. A junior partner at my firm makes $200K+ (in Indian rupees) which is a good amount. If I make partner in 4 years post B school (I would be 32 then) that would be a VERY comfortable living style I can have then.
Also, I was pleasantly surprised by how keen they were to sponsor me. Plus they understood that I may choose not to come back, and hence would have to pay them back. So your suggestion of taking the sponsorship, and paying them back if I dont work, is OK. But, two variables get introduced - i) currency fluctuations - as of now this is favourable, but I may be in a situation 2-3 years down the line where I am paying back $110-$120 or whatever instead of $100, and ii) The time to payback - I won't have a 10, 20 year cushion. Will probably need to pay this back within 5 years, ideally lesser.
