Financing_your_Exec_MBA:Rise_EMBA_2007.qxd 20/02/2008 16:53 Page 37
To help you with your project, we have laid out
some of the key strategies for trying to secure
Financing your Executive MBA
"The EMBA has helped me to understand and to deal
with current issues and opportunities that I am
company support for your Executive MBA:
confronted with in my company on a daily basis. The
group work with my classmates in addition to the
Getting Your Company to Sponsor Your
This was certainly the case for Christine Miles, an
solid business and management tools taught in the
Executive MBA :
Executive MBA graduate from the school who is
program has also helped me greatly."
With several years of managerial experience
now Director of Operations at Moorfields Eye
Johan Hedberg, Director of International Sales
behind you, the next step in your career is an
Hospital. She comments, "The project in the second
Development, Cobra Golf, USA, Kellogg-WHU
Executive MBA. You are looking to strengthen
year enabled me to do some relevant research
EMBA 08
your analytical skills, develop your leadership
within my own organization and ensured that I was
potential, add an international dimension to
able to make the move from my professional career
Arnold Longboy, Director of Recruitment and
your experience and strengthen your skill set to
to a management position."
Corporate Relations at the University of Chicago
deepen your understanding of the broader
Graduate School of Business (Europe), explains
business environment. It is obvious to you that
In Germany, the trend observed is that Human
that students are urged to share as much as
the company will reap benefits from the
Resources Departments and corporate decision
possible what they learn with their bosses and
company project, and the tools and ideas that
makers perceive the Executive MBA program as
colleagues. Not only does this reinforce the
you can put to work right away. But how do you
an additional strategic component of retaining
student’s learning experience, but it also
convince your boss, HR Director and the CEO
high potential managers. Those participating in
provides maximum return on the company’s
that the time spent away from the office, in
an Executive MBA program receive increased
support of the program.
addition to the considerable tuition fees, are a
support from their organizations, both
good investment for the company?
financially and with time. Corporate
contribution towards tuition for Executive MBA
“With the diversity of companies, functional area,
and geographical representations, students gain
Put together a business (school) plan :
participants in Germany through full or partial
insight and unique perspective from their
If you haven’t already negotiated an Executive
sponsorship is increasing.
classmates. It’s like having potentially 87 free
MBA as part of a sign-on package when you
consultants looking at a problem – not to
joined the company, it is unlikely that your
“The number of self-sponsored EMBA candi-
mention the expert professors!”
current proposal will be signed off over an
dates is not significantly higher at Kellogg-
Arnold Longboy, Director of Recruitment and
informal lunch. More often there are several
WHU, but co-sponsoring (between the student
Corporate Relations, Chicago GSB (Europe)
supervisors who will have to sign off on the
and the company) is growing, as firms
project, perhaps even the company chairman, so
encourage employees to share the
a document which outlines your proposal,
responsibility for their career development,”
A further option for company support is the idea
explaining your motivation and underlining the
says Bernadette Conraths, Head of the Kellogg-
of ensuring higher positions upon completion of
corporate benefits, will be invaluable. Such a
WHU Executive MBA. Industry averages have
the program. Hubert Faucher at Essec explains
document requires research and thoughtful
remained fairly steady in recent years: a third of
that, “The two year program is a long period for
analysis, so you are well advised to give yourself
students receive partial reimbursement, a third
our participants. Yet over that time their
lots of time.
full reimbursement, and a third pay their own
understanding of their direct environment, their
tuition. The proportion of organizations offering
behavior, and their objectives will evolve very
Dominique Héau, Associate Dean of the INSEAD
students full reimbursement was 34%, down
quickly. The time comes where new positions
Executive MBA advises candidates to prepare
from 40% in 2003. Each Executive MBA candi-
must be secured for the newly regenerated
the ground during performance reviews on a
date at INSEAD must have corporate
leaders that come out of the program. In recent
regular basis. “In general, firms do not like
endorsement to get his or her application
years, 75% of our graduates have moved to
surprises. Opportunities for careers, available
package reviewed by the Admissions
positions of greater responsibilities within 15
options within the firm, should have already
Committee. For the school this means that the
months of graduating.”
been discussed regularly - both formally during
employer believes that the candidate would
the performance reviews, and informally with
benefit and thrive in the EMBA program, and
Indeed, according to the most recent research,
mentors.”
acknowledges the necessary time-commitment
the vast majority of those who take an
he or she needs to complete the program.
Executive MBA, a full 84%, would definitely
recommend the program.
You might be a step ahead if the company
already sponsors Executive MBAs and can judge
“Undertaking an EMBA is a great opportunity. It is
their value, but otherwise you need to convince
therefore important to have a profound discus-
"The results from Erna Gísladóttir's studies at IESE
them that a given school and the commitment
sion about one's future career, about one's cred-
went far beyond our expectations. She was able
of your time will ultimately be to their
ibility in the company and about a firm's willing-
to apply what she learned immediately. During
advantage. If there are other employees who
ness to invest in their own people.”
the program, Erna was appointed Managing
were supported by the company to do an
Dominique Héau, Associate Dean, INSEAD
Director of B&L and we can see that she is
Executive MBA, you should try to talk to them
Executive MBA
steering the company in the right direction. She
also gained valuable skills, thanks to her
to discuss their experience and learn about
internal attitudes to such training.
Due to the relevance of the content, the school
participation in the Global Executive MBA, that
feels that the company will benefit from a quick
allow her to see what it takes to succeed in the
If the Executive MBA to which you are applying
return on its investment of time and financial sup-
future."
has a company assignment, or electives that the
port as the EMBA student brings back new ideas
Gísli Gudmundsson Chairman, B&L (who
company can influence, then this is a strong
to identify, analyze and solve company issues.
sponsored Erna Gísladóttir', Class of 2004,
IESE Business School)
argument for their support. Remo Luetolf from
engineering giant ABB, followed the Executive
MBA at IMD, and comments that, “the
230
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