How to convince your employer to invest in your MBA
Enhancing your professional knowledge and skills with an MBA is well regarded as one of the ultimate ways to invest in yourself, personally and professionally. But there’s another party that stands to benefit considerably from your vastly improved position in the workplace – your employer.
This article is designed to help you pinpoint exactly what those benefits are and develop a plan on how to convince your employer to invest in your Griffith MBA.
Step 1 - Investigate
Start by doing your homework. Chances are your employer already supports professional development, whether it’s through a formal training policy or informally on a case-by-case basis.
Jump on your intranet, meet with HR or speak to colleagues to find existing policies and practices.
Hot Tip: If there’s no formal support, don’t despair. Talk to Finance to see if your company qualifies for tax deductions for reimbursing job-specific self-study.
Step 2 – Pitch
This step is the most important and it’s focused on demonstrating the return on investment (ROI) for your employer. You will need to position the MBA as a mutually beneficial investment.
a. Start with the basics: be prepared to tell them you want to study an online MBA with Griffith University, why you want to study and when you are planning to start.
b. Get specific: Focus on what it is about the Griffith MBA that makes it a worthwhile investment for you, and by proxy for your employer.
Griffith’s MBA Job specific skills
Link the skills you’ll gain during your MBA (see below) with key aspects of your current role or the contribution you want to make at your workplace:
Why a Griffith MBA stands out
An MBA for Good
Griffith is amongst the best in business
Meet the right people
Accelerated Online Structure – Flexible Online Learning
Authentic Assessments/Applied Learning
A transformed learning experience
Mixed payment options
Let Griffith do the talking
Improvement in the workplace
Smarter to invest in current employees than re-hire.
|Reinforce your personal value to the organisation and that it’s more cost-effective to invest in you rather than hiring someone new for the same role|
Step 3: Anticipate
Handle objections by putting yourself in your manager’s shoes and be prepared to alleviate common concerns such as:
- No budget: Course may be tax deductible (check with Finance first) and there are also mixed payment options to sponsor 50% or 100% of your program.
- Disruption: 100% online accelerated learning designed to fit around your work commitments (see Why a Griffith MBA stands out section in the table above for more information).
Step 4: Don’t give up!
If all else fails and it simply isn’t practical for your company to support your study now, stay positive and look to revisit the conversation later. You also have the option of deferring 100% of your tuition fees through FEE-Help. Find out more about FEE-Help here.
Hot Tip: Speak to your own accountant. Self-study can qualify as a personal income tax deduction if your course is job-relevant.