Companies Which Sponsor MBA 2023: What you’ll do after you depart is a major factor for those of you considering consulting. Or, to put it another way, many people enter consulting only to depart. But for what are you preparing yourself? For those of you who want to get an MBA, working in consulting is one of the finest ways to get a top MBA for free. Each organization, however, has its own set of procedures and guidelines regarding MBA sponsorship.
MBB Firms Offering MBA Sponsorship
Associates, analysts, and consultants at MBB can apply for MBA sponsorship. Unlike some businesses, which consider just the top 10-25% of a cohort, all analysts (if they are in good standing with the firm) are eligible for sponsorship. What does “good standing” at McKinsey, Bain, or BCG mean? This suggests that you have been in charge of deliverables that are critical to the success of engagements. Those in “good standing” also volunteer at least 1-2 times per year for firm events, demonstrating a willingness to contribute outside of usual channels. While everyone in this category is technically eligible for sponsorship, getting sponsored without an acceptance letter from a Top 10 B-school is difficult.
Firms pay a living expense stipend ($10-$20K) in addition to full tuition for these top performers. What can be expected in return? McKinsey, Bain, and BCG consultants agree to work for the company for at least two years following graduation. This benefit has become such an important component of organizations’ retention strategies that it is unlikely to go anytime soon. For example, BCG stated in 2016 that 10% of their employees received educational support.
Big 4 Firms Offering MBA Sponsorship
Firms consider MBA programs as a terrific vehicle for expanding their worldwide vistas and insight into diverse functional areas through internships and exchange programs, in addition to giving enhanced business acumen and leadership competencies. The details of sponsorship and help offerings at Big 4 consulting arms are shown below.
After two years of service, Deloitte makes The Graduate School Assistance Program available to high-performing consultants. Typically, you must be at the firm for 3-4 years before you may take advantage, and you must return to the firm as a Senior Consultant. The bonus includes full tuition reimbursement, a technology allowance, GMAT preparation class discounts, and graduate school coaching. Deloitte consultants are accepted at three times the average rate in the top 20 business schools in the United States.
Another unusual advantage Deloitte provides is for graduate interns: if you accept an offer to return before the summer ends and commit to working for the company for two years, you can get $50,000 towards your second year of college. This is done to keep top recruits and prevent them from “interviewing up” at MBB.
Because sponsorship is approved and financed by particular business units, you will also be able to receive continuing education sponsorships for certifications (for example, CPA). During the networking/interview process, be sure to enquire about MBA sponsorship, as standards vary for each BU. Once again, your options include certification sponsorship, tuition reimbursement for particular courses only, or full payment of tuition.
After three years of service at PwC, you are eligible for the Advisory Scholars program. For selected candidates, this provides complete MBA sponsorship. Many of the same requirements as Deloitte apply here: you must be a top performer and sign a 2-year commitment to return to the firm after your MBA. Student loan payoff help is a first-of-its-kind benefit provided by PwC; all participating Associates and Senior Associates receive $1200 per year toward student loan repayment. This perk can save you up to $10,000 in interest and shorten the life of your loan by up to three years. Make sure you enroll on your first day of work.
Pay notice if you’re evaluating offers from Big 4 firms and MBA sponsorship is crucial to you! KPMG is less likely to offer sponsorship than its competitors, but you may be eligible for paid time off for additional education. Training, on the other hand, is available to anyone. The company has built a virtual business school (KBS) to offer a variety of ongoing learning possibilities such as technical, information technology, and behavioral studies. KPMG has significantly increased its commitment to professional development and collaborates with affiliates to provide a variety of in-house training.
Boutique Firms Offering MBA Sponsorship
Current MBA interns at Accenture can participate in the Apprenticeship Program. It provides access to a network of mentors and pays $80,000 toward your second year of education if you sign a promise to return for at least two years. Additionally, Accenture Strategy provides up to $100,000 in sponsorship for the top ten analysts in a class who plan to complete an MBA and then return to the firm.
Kearney encourages consultants to get an MBA while also providing an equal chance for progression within the firm to those who do not. Employees who are selected (read: high-performing) are eligible for sponsorship at top-tier business schools such as HBS, Kellogg, Wharton, INSEAD, and London Business School.
L.E.K. provides three types of opportunities for personal and professional development. The first option is business school sponsorship, which is accessible to exceptional consultants who have actively contributed to successful engagements and have demonstrated talent and ability to grow. L.E.K. also provides chances for secondment and externships. A secondment is a short-term assignment with an L.E.K. customer that will provide you with hands-on, practical experience in a new field while also honing your current talents. An externship is a 2-3 month short-term leave that allows you to enhance your abilities while pursuing social impact.
Many existing consultants see an MBA as a natural next step, and selecting the appropriate program for you is just as crucial as selecting the right consulting firm. It will chart the course for the remainder of your career. One of our favorite consulting bonuses is the possibility to acquire a quality MBA at no cost to you.
While the sponsorship option can save you money on student loans, it will also commit you to two more years of the consulting lifestyle after graduation. This is a cost-benefit analysis that must be performed while keeping your long-term career aspirations in mind. Schedule a 1-hour coaching session with an ex-MBB consultant now for expert assistance in narrowing down your alternatives.
People Also Ask
Which company hires the most MBAS?
All business corporations and companies require the skillsets taught in this course. The top recruiters for MBA graduates from IIMs in India include Adobe, Flipkart, Amazon, BCG, Goldman Sachs, Mckinsey & Co, Essar Group, Bain & Company, TAS, and TCS.
Which Companies Sponsor MBA 2023