July 14, 2008
Credit crunch hits MBA financing
In today’s Business Education section of the FT: a story by Della Bradshaw showing how the crisis in the credit markets is making it more expensive - perhaps prohibitively so - for some students to secure financing for MBAs.
Do feel free to share your story below if you are having difficulty finding the funds to do an MBA. I can’t promise that we’ll organise a whip-round but a sympathetic hearing is likely (although not assured - we have all the stats on the typical salary uplift at each school so we’ll have a fair idea of whether you’re complaining too much).
If your employer won’t pay for it, change your employer. My company pays 100%, and I know of very few companys that don’t do the same.
Posted by: David in Melbourne | July 14th, 2008 at 1:14 pm | Report this commentI asked my organisation to sponsor my MBA but they refused saying I wasn’t at the right level and their HR funding had been witheld etc.
I decided that this was a life time goal I was not going to let some company delay or derail.
I am doing an MBA online as we speak and it is so much hardwork yet fun and rewarding.
Posted by: Femi in Berkshire | July 14th, 2008 at 2:25 pm | Report this commentDavid from Melbourne should perhaps consider smaller companies when he makes comments about getting 100% funding. My employer certainly wouldn’t be able to take the burden of me leaving the UK for 18 months to take up a course costing tens of thousands of dollars.
Posted by: David | July 16th, 2008 at 2:37 pm | Report this commentYeap, the credit crunch is hitting companies that sponsor MBA’s. I stated discussions with my employer earlier in the year. In principle they agreed to fund 50% of a part time MBA. So I subsequently stated my applications and managed to obtain a place a reputable London business school. Once I followed up with my employer to put the 50% funding in to action, they stated that they were now unable to fund the place due to the challenging market conditions…
So now I have a place on a course but no funding for it. I have deffered the place for while i search for sponsorship/funding options that are open to me.
I guess there are probably many others in similar situations.
Posted by: Martin | September 6th, 2008 at 6:25 pm | Report this comment