Funding Your MBA: Company Funding

Posted by MMU on 06-Jan-2017 11:19:11

There are many reasons that someone would choose to study an MBA and there are plenty of different funding options available, as you can see in our MBA Funding Guide.

MBA courses, when you take tuition fees, living expenses and other necessary items into account, can cost anything between £16,000 and £73,000, so it’s worth exploring every funding option available.

We spoke to Richard Tonge, sales manager at Magnesium Elektron, who is currently completing an MBA thanks to his employer who funded his studies for him.

He told us how he handles the delicate balance between studying and full-time employment, how he believes an MBA will help him throughout his career, and offered advice to people considering enrolling on an MBA course.

What made you decide to do an MBA?

There were two reasons really. The first one was the obvious career progression that goes hand in hand with an MBA. The second was slightly different.  As I’ve found myself in a senior position, I’ve come across situations that I feel ill-equipped to deal with. I’m hoping that studying for an MBA will help me develop these skills in business strategy and finance to ensure I’m the best manager I can be.

How do you think it will benefit your future?

Any qualification is great for helping you progress throughout your career. The MBA especially opens up so many doors in regards to my future options. This is not just through the teaching, but also the networking, conferences and university resources that are now available to me. I know it’s going to have a big impact.

How did you find juggling both work and studying?

I made sure that before I started the MBA I sat down with my manager and the people I manage. I advised them that I may be out of the office more than usual, and that there may be times I need to take off.

I recently had to complete an assignment that took 60 hours, but as I had pre-planned, I was able to manage both my commitments to my employer and my MBA.

What advice would you offer people starting out on an MBA course?

Make sure you are prepared to get the most out of your MBA. It’s a brilliant course, so take advantage of every learning opportunity you are presented with. Not just from the assignments, lectures and course tutors, but from the networking events, conferences, and university resources on offer.  

Are you enjoying your Manchester Met MBA course so far?

Yes, I am. It’s really interesting and I can tell how worthwhile it’s going to be.

For more information about funding your MBA through an employee sponsorship, take a look at this interview with Stephen “Paddy” Dyson.

His company, HMG Paints, decided to sponsor and invest in him by entering him for the Northern Powerhouse Innovator MBA Scholarship digital pathway.

Download our MBA funding guide below. 

Topics: MBA