Convincing your boss to finance your MBA requires serious preparation and well-reasoned arguments.
Along with choosing the right MBA study, school location, and programme format, the estimation of the financial resources that have to be delegated for obtaining the highly sought-after business diploma inevitably comes. In many cases, students successfully convince their current employer to sponsor their education and cover the expenses for their degree as a long-term investment in the company. Academic scholarships and personal savings, or a combination of the two, are other options to consider.
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If relying entirely on a sponsorship, or if a scholarship is not possible at the moment, applicants may also consider taking out a student loan or bank loan. Unlike scholarships, however, loans have to be repaid at the end of the study, so students need to follow a well thought out plan for how to manage their finances. Today’s highly digitalised media landscape also makes it possible to set up an online crowdfunding campaign accessible for donations from all around the world which can help programme candidates raise some extra funding for their education. In any case, the costs associated with obtaining an MBA degree are among the major factors to consider well before making the final choice for the right programme.
Convincing your boss to finance your MBA requires serious preparation and well-reasoned arguments.
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