Sponsorship, what do you think?

Question

Last Friday the company I work for offered me a full sponsorship of my MBA (tuition + living expenses + other helps). Nevertheless, I will have to stay 2 years after graduation with them, or I will have to re-pay with a certain amortization schedule that decreases with the term I stay with them.

I know that at first you’d say: THAT’S GREAT! 
However; at the time I graduate (when my hire potential is at its highest) I’ll have to return. Of course they will adjust current salary and stuff, but still I won’t have flexibility.

I talked to Ad Com from GSB and Sloan, and they said that this wouldn’t affect my experience in terms of Career Service, and that actually the only difference is who pay my bills.

I decided to accept this offer, as either way, I have to pay my MBA, and with that I have a “hedge” job.

What do you guys think about it? I mean regarding sponsorships?

westsider · Answer

Well, I wouldn't. I would assume that the rate you would pay if you decide to take a different job would be punitive. Honestly, you shouldn't have any trouble finding a job when you graduate. Why go through the extra trouble to piss off your current employer when you quit upon completion. thats if things go WELL. Then there is the downside that you might find it "just easier" to stick around your current job than to get the job you went back to b-school with. Plus, your family(thinking parents), etc. will almost certainly push you to do this, as they probably don't really "get it". Pushing you to take the safe option is a very parental thing to do. I would say "Think about it". The temptation is too great to be lazy and stay. Take a (tiny) risk. and assume you wont be one of the <10% that dont have a job w/i 3 months after graduation. The point of going back to B-school is to change your (professional) life. So reject your company scholarship to MAKE SURE it happens! Maybe I am crazy, but thats my take. (you asked! :-D

)

skaballet · Answer

I think it makes a lot of sense IF it is in a field you are looking to go into. I know a number of people who want to go into IB and have applied for sponsorship with banks for example. However, if it isn't your desired field out of school I don't think that is a good idea.

Rubashov1 · Answer

This is more or less what I'm hoping to do (still waiting to hear back on the "package" that is offered). But I'm not looking to change industries or job functions, so it makes sense for me. Not sure if this is the case for you. Plus, I wouldn't necessarily expect a significant, if any, pay increase post-MBA if I didn't stick at my current place.

Best of luck!

rhyme · Answer

With the economy doing what it is, I say you made a great move.

dabots · Answer

seems win-win to me

kwam · Answer

I understand your thoughts west, but I can assure you that I won't change my mind-set, and I fell that I won't have that big trouble if I want to go elsewhere, what will be hard is that the package is so good, that I will have to pay much more than the budget schools usually show.

Another point, is that with this sponsorship I can pay for my wife's course, and I think that's important.

As I'm not changing industry, just the focus. I could also try to the tricky industries such as HF/PE/VC.

aaudetat · Answer

kwam, do you need to commit now?

There are lots of Deloitters at Fuqua, and they all get reimbursed IF they go back. If they don't go back, they're not reimbursed. Sorta the best of both worlds -- they can go back with a free education, or they're free to change roles. Some will definitely go back, some definitely won't, some are waiting to see how the cookie crumbles.

I take it, though, that you have to decide now-ish, huh?

kryzak · Answer

kwam, first, CONGRATS on the offer.

I think as long as what you need to pay back isn't a lot more than what your B-school budget and spending will be, and you can "break" out of contract at any time without burning any bridges (make sure you set the right expectations to your employers that you may be leaving), then I'd say GO for it.

kwam · Answer

Yes I need to decide (actually they already payed my first GSB deposit. I know that at Mckinsey they also offer this same kind of sponsorship, but for me things are a little bit different. Actually, I'm kind of an guinea pig, because the group has a formal MBA program sponsorship, but I work for the international branch which doesn't have, so I'd be the first sponsored for a FT MBA by the international division. I agree with you that the other way is better; however, I can't choose everything. Well legally speaking, the biding contract worths zip in the country I'm now and also at my original country, but as I believe in gentleman's shaking hands contract, I'd do the way I'd sleep at night :wink:

. The thing is that the person who encouraged me to go for the FT MBA was the first to say: although we're offering this sponsorship, I think you should think of having some flexibility... Of course there's much more behind it, and I can't just throw the facts here, but is pretty much that. I think I won't burn any bridges as I have always played fairly with everybody. I also know that when they need to lay off, they do in seconds, so sometimes I need (though that's not my personality) to be a little "Machiavellic" (do you guys use this word in English?????). I told them more than 1 year ago that I'd go for a FT MBA, so they knew what was coming (well perhaps they thought that it was a bluff). Thanks everybody for the inputs, I still think that it's the right thing to accept, in the "worst case" I'd stays with them for at least 2 more years, I'd use the money I saved for my MBA to give my wife education at the incredible School of the Art Institute of Chicago and if she becomes famous, it will worth much more than my MBA :lol:

kryzak · Answer

well said kwam, good luck with everything!

Let me know when you're back in the States again. This time I'll be careful where we go to eat.

Sponsorship, what do you think?

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