Hi all -
Context: Heading to b school in the Fall at H/S/W. I've heard (or read or whatever) that some companies will offer a tuition reimbursement package when you sign with them (in addition to the standard signing bonus). Can any of your soon-to-be graduates or people in school elaborate on how common this is, which industries, etc.? How does it work? Any and all details helpful...
Obviously the MBA is an expensive process, so I'm trying to get a sense for the things companies throw at you to entice you to sign...
Thanks!
As far as I know, the only firms that do this (and only for returning interns) are Deloitte (second-year tuition), Accenture (second-year tuition), and LEK (some second-year tuition support).
Agree with Deloitte and Accenture. I know banks will also do it if you accept a summer offer with them before starting your program -- I've heard of this for underrepresented minority and military candidates.
If you're a URM or gay (I guess you could lie about this) BOA will hook you up with a 40k fellowship and an internship. If you recieve a full time offer and accept it they will pay for your second year.
http://campus.bankofamerica.com/americas/internship/2014-mba-diversity-…
I know it's standard for consulting firms (McKinsey for sure) when you go to a European office. The rationale there is that you have an extra year of school vs. your European MBA counterparts.
pretty much all the tier 1 and tier 2 firms do it. MBB definitely do it. Managementconsulted.com had a list a little while back you can probably dig up.
This issue you'll run into (or maybe not since you're in a Top 3), is that the top firms have about half as many (or less) internship positions as full-time positions...so a lot of people find themselves in the position where they can get a better job in full-time recruiting (e.g. a person who gets Deloitte for internships, has a very good chance of getting MBB FT, so they end up rejecting the 2nd yr tuition)
This is wrong.
Tuition reimbursement for 2Y's has been covered in at least 3 other threads this month. Short version: MBB don't. Deloitte, Acc, and a few boutiques do.
Interesting, so it sounds like this is something of a consulting phenomenon. Do any of the banks do this for IB programs? I'd also heard of some places offering lower interest student loans to their accepted FT hires...
Thanks to all who have contributed.
Tuition reimbursement - MBA for financial firms (Originally Posted: 06/19/2008)
where can i find tuition reimbursement (MBA) for the financial firms? (BB, MM, large boutiques)
last time i checked MS has full reimbursement and Citi had partial....
asdf
Most banks have some kind of diversity initiative that give out a pretty sizable stipend. Some give these out the summer before you start (e.g. BAML, Barclays), some are during first year recruiting (MS, CS).
Do ibanks offer tuition reimbursment programs? (Originally Posted: 07/12/2008)
Do ibanks offer tuition reimbursement as part of the employee benefit package when you sign on.
Thanks!
Yes, it starts after 5:30PM and it is called working on pitchbooks, comps and precedent transactions.
The ONLY kid of extra stuff you can do at BB is your Series 7, rare for analysts to even try, MAYBE a CFA, but I never saw it. I did see a VP taking his third test.
how about for MBA after 2yr analyst stint?
Some BBs offer between 5 and 10k tuition reimbursement per year, for whatever extra education you choose to take (as long as it is reasonably relevant to the job).
In most cases this doesn't apply retroactively to tuition fees already paid before you joined the firm, unless you've got some special arrangement to that effect in your contract.
Yes, most banks have an MBA tuition reimbursements for the very top candidates.
at my bank a Series 7 is required for analysts and is obtained during training
Going to have to disagree with the above. MBB do not pay for your second year if you work there over the summer and go back full time.
In fact, most of the information on this thread is inaccurate...
From an IB perspective, I do not know anyone that got their second year paid for. Maybe there are some people out there that get it but it is definitely not common.
FWIW, I'm a second year who interned at at top tier BB form a top bschool and is going back FT in the fall. It's definitely not common.
Appreciate the insight phantom and mba. Thanks
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