MBA Justification

Submitted by Justin Skelding
in
Career Management

I am currently not in a management position and 3 years out of college (age 26), but feel an MBA along with my other skills will differentiate me and put me on the list to be considered for the next management postition at the company I work for.

I need some help on a good way to approach a general justification of why my company should pay for an MBA.

Thanks, Justin

Submitted by Gary Jolicoeur on Tuesday May 10th, 2011 8:13 am

I don't believe the main issue is a MBA.  Many companies have a tuition assistance program.  These programs are usually tied into a curriculum that  would help you to do a better job.  Usually they are $5000.00 per year and payment is made after documentation of completed class and a grade of "C" or better to get reimbursed.   If not, need to approach either your HR department who would manage such a program or follow the chain of command.
Gary J.

Submitted by stephenbooth_uk on Tuesday May 10th, 2011 10:17 am

 You're asking the company to spend money, presumably with the expectation of some future benefit.  This is something you will probably have to do a number of times in your career when asking an employer to invest in equipment, property or a project.  In those cases you would be expected to present some sort of business case, a document which basically says "This is what i want us to do, this is how much it will cost, this is the benefit it will deliver."  Why should this be any different?  Work out your case:  How much will it cost (don't forget to include any indirect costs like your time, administration &c); How will it be delivered; What will the benefits be; How long will the benefits take to deliver?
A couple of things to remember on benefits.  You having an MBA is not a benefit, you being able to bring in new business or reduce costs as a result of having an MBA is a benefit.  Benefits typically have a currency symbol at the start  and you need to look at Net Present Value or Discounted Cash Flow for any future benefits (a million dollars 20 years from now is worth a lot less than the same sum now and, depending on the financial environment your company operates in, may not justify spending even $50,000 now).
Even if you never actually present the Business Case the process of creating it will help you to define your pitch.
Also give the MT podcasts on presenting and pre-wiring a listen.  They will help you make your pitch.
 Stephen
--
Skype: stephenbooth_uk  | DiSC: 6137
"Start with the customer and work backwards, not with the tools and work forwards" - James Womack
 

Submitted by Justin Skelding on Wednesday May 11th, 2011 9:20 am

Thanks Stephen!