Paid by firms to do MBA, but how long to stick around afterwards?
I've not found an answer to this question yet.
Let's say an MBB firm pays you to go and do an MBA for a couple of years then come back. After you return, how long are you obligated to stay with the firm without having to pay them back any fees?
If, say, you did the MBA, came back for a year, then jumped ship elsewhere, would that be seen as a big issue?
I appreciate things may vary from firm to firm, but a general idea would be good. Are we looking at 1 or 2 years, or more like 4 or 5 here?
I think you usually have to stay around for 2-3 years if they pay for it.
At my current firm, it's "a period equal to the length of the MBA"
So, usually 2 years for american business schools and 1 year for european ones.
I can confirm Frabjous response for one of the MBB I worked for
usually 2 for American firms, in addition, some firms pay back proportional to how long you stay over the course of your stay. So, if you stay for 1 year out of 2 they may pay for half of it.
At my firm, if they sponsor you for an EMBA, it's 5ys post-graduation. If they pay for a part-time MBA, there are no strings attached.
If you left before the period you're required to stay for, it's only "a big issue" to the extent that you then owe them money.
2 years and i have heard its just a you owe me money if you leave early. its pro-rated so if you leave after 18 months you only owe 6 months etc. With all this up or out, obviously not the best idea, but if you really wanted to break out earlier you can aim to get fired.
I think it looks incredibly bad on your personal profile if you've just waltzed out after getting your MBA. I think 'length of the course plus another year' is a good idea, I just think the alternative looks bad.
If what you're looking to do is move locations and/or industries, you're better off saving and then studying independently is my opinion. That seems to work out better, look at this instance for example. http://www.businessbecause.com/mba-life/ex-deloitte-consultant-headed-t…
Thanks for the responses, guys - this has given me a much better idea of what to expect!
2 years is standard from what I hear. Keep in mind that if your firm pays for your MBA, when you return, you won't get that 30-40K signing bonus that the other people (who didn't get their MBAs sponsored) get. So in the end, you're not really saving the total cost of tuition (only about half?) and plus you're locked in for 2 years. If you leave before, you have to pay a prorated amount of the tuition back.
I'm at MBB, and at my firm you do get a signing bonus when you return after a sponsored MBA. Depending on the arrangement (there are different options for how the sponsorship works), some people get the signing bonus right when they leave to do the MBA, so have 30-40k going into school.
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