How to convince your company to pay for your EMBA

• August 1st, 2013
• in Helpful Tips and Advice

According to The Executive MBA Council, approximately 60 percent of students receive partial or full funding for their EMBA degree. Although more EMBA programs are offering scholarships or fellowships (46.2 percent in 2012), students may also receive full or partial sponsorships from their employers.

EMBA programs offer many benefits to students, as well as students’ employers. Here are some benefits to point out when discussing your plans to pursue an EMBA degree with your employer and negotiating potential funding and sponsorship options:

1.) Sponsoring an employee’s participation in an EMBA program is a company investment. 
When an employer decides to sponsor an employee’s participation in an EMBA program, they are not only making an investment in that employee, but in the company as a whole. It is an opportunity for the employer to increase retention of top performing employees. By investing in and improving the existing talent within the company, employers will encourage their employees to stay with the company, and ultimately save money by eliminating the need for recruiting outside talent.

2.) Companies receive instant return on investment. 
EMBA students will gain new skills and knowledge from the course content that can be immediately applied to the workplace. Such skills include the ability to think strategically, analyze complex problems, integrate information, and make tough decisions. Students will be able to better identify opportunities for improvement within their company and apply creative and effective solutions.

3.) EMBA sponsorship can improve in-house succession planning. 
While participating in an EMBA program, students will develop leadership and communication skills that will enable them to advance to the next level within their company. Students learn to work well with a team, as well as how to successfully lead a highly performing group of individuals. Employers will feel confident when developing a succession plan, as students will gain a better understanding of business functions from an organizational standpoint.

4.) Companies will gain access to the latest business trends, management strategies and techniques, as well as the experience and knowledge of other business professionals.
EMBA students will broaden their perspective by learning about the latest business management techniques and gaining insight from other working professionals with diverse backgrounds. Students can draw from this information and bring new ideas and strategies into their workplace.

5.) EMBA students can bring a new global perspective into their workplace. 
Many EMBA programs take an international trip as part of their curriculum. Students will develop a deeper understanding of different economies, businesses, and cultures worldwide. Through company visits, meetings with business professionals and government officials, and tours of cultural and historical sites, EMBA students will gain a new global perspective, and can build an international network that can be very beneficial for the companies they work for.

6.) The actual payback period has been reduced from 23 to 17 months. 
An article in The Washington Post states that reports show the actual payback period for an executive MBA has been reduced from 23 to 17 months over the past year, despite the rising average of program costs. The important thing for employers to remember is that the benefits from sponsoring an EMBA student are long term, reaching far and beyond the time it takes to fully recover the costs of their investment.

When discussing an EMBA sponsorship with your employer, it is important to point out these benefits and demonstrate how funding an EMBA degree is a sound investment in the future of your company.

The University of Alabama’s EMBA program offers an outline to assist students in developing a proposal for corporate sponsorship, which you can access by clicking on the link below:
UA-EMBA Corp Sponsorship Proposal

For more information about the EMBA program at UA, please visit www.emba.ua.edu.

Executive MBA – A Good MBA Choice for Veterans?

• July 19th, 2013
• in EMBA Program Information, Helpful Tips and Advice

UA Manderson EMBA Military Veterans and students preparing for their international immersion.

Transitioning from a military career to a civilian work environment is cause for serious reflection and careful planning.  Questions arise … will my military leadership and management skills translate? Is the EMBA the right degree for me?  Why is an EMBA Program a great choice for Veterans specifically?  Are accelerated programs, EMBA programs for instance, respected by industry? Can I find a reputable EMBA Program that is also military friendly? Can I work full time while participating in an EMBA Program?  Can I afford it with my Post 9/11 GI Bill education benefits?
When considering the best path for your education, remember the following points:

• Will my skills translate?   Trends show the corporate world benefits greatly from well-seasoned military leaders who are making the decision to transition out of active military service.  After all, historically, many a great business theory or strategy was first developed in a military setting prior to trickling into commercial industry.

• Is the EMBA the right degree for me?   There actually is no E.M.B.A. degree in the US at this time.  An EMBA program offers the M.B.A. degree in a format designed for experienced professionals.  The degree curriculum is generally broad by design to prepare students for executive leadership positions. Also, an executive-style MBA program is an efficient way to reframe military leadership training with a boardroom-style business education.

• Why is an EMBA a great choice for Veterans specifically? The average EMBA student has 15 years of professional work experience.  By choosing an EMBA format for their degree, Veterans are immersed with a group of experienced, highly motivated professionals from diverse industries such as technology, telecommunications, health care, manufacturing, services and defense.  Learning from professionals active in other industries is a great fit for the warfighter who wants to transition quickly into an executive environment.

• Is an EMBA respected by industry compared to a “regular” MBA?  Yes! Industry leaders understand and value the drive needed and sacrifices made by professionals who work full time and earn a degree in an academically rigorous EMBA program. Additionally, company executives know EMBA programs value leadership skills, teamwork mindset and the world experience Veterans bring into the classroom. They know they are getting a good “product” by hiring an EMBA. EMBA programs offer a boardroom-style class setting with experienced professionals and typically in an accelerated schedule, ranging from 17 to 22 months in length.  Work and school is a challenging undertaking.  Taking on this challenge with a network of experienced professionals is a rewarding experience.  Industry understands and values the discipline required to graduate from a highly-regarded EMBA program.

• Can I find a reputable EMBA Program that is also military friendly?
  Most EMBA programs require a minimum of five years of professional work experience and count military service years equal with commercial-industry experience. Key tips for Veterans or active military who are evaluating how Post 9/11 G I Bill benefits apply to tuition costs: 1) check on whether the program is a public institution and if tuition is considered “in state”  2) ask if a program waives application fees or waives tuition prepayment requirements for active military and Veterans   3) confirm that your enrollment status will be considered “full time”.

• Can I work full time while participating in an EMBA Program?  Yes.  Take advantage of that great post-military job offer while attending school full time.  A weekend schedule is a perfect schedule for the working professional.  Plus, EMBA faculty understand your schedule and in most instances can work with you on work/life schedule conflicts.

• Can I afford an EMBA Program with my Post 9/11 GI Bill Education Benefits?  Yes! Although tuition is slightly higher for most EMBA programs, this is typically due to the “all-in-one cost” of the tuition/fees structure.  Meaning your tuition, books, supplies, meals, and international immersion are included in the cost of the program. Contact the program you are considering for more details.  In most cases you will be pleasantly surprised!

If you are looking for a perfect fit as you transition from military service to the civilian workforce; check out an Executive MBA program. It is challenging experience that will fit well with the skills developed through a career of military service.  Visit the Executive MBA Council website, embac.org, to compare programs in your region; compare up to five programs side by side on this site.

For more information on this blog, visit www.emba.ua.edu or call Cheryl to talk more about returning to Graduate School as a Veteran, 205-348-4501.