Fewer Companies Sponsor Executive Degrees
More executives are discovering that if they want an executive MBA, they have to pay for most or all of it themselves.
A decade ago, full sponsorship of an employee's master of business administration was standard practice at many big companies. Since such programs are designed for executives who remain at their jobs while studying for their degrees, companies figured the skills employees gained were worth the cost. But along with generous health-care benefits and reliable raises, corporate sponsorship of pricey executive degrees is disappearing as companies trim costs.
Although the economy now is stronger and the job market is beginning to recover, sponsorship is still sliding. In 2004, just 37% of students were fully sponsored, down three percentage points from 2003, according to a study by the Executive MBA Council, an organization of 210 universities and colleges around the world that offer executive MBA programs. Twenty-eight percent of students received no funding, up three percentage points from 2003.
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Program directors don't see full funding bouncing back anytime soon. "It might come back with a very robust economy but it would come back much more slowly," says Tom Hambury , director of executive programs at the Johnson Graduate School of Management at Cornell University in Ithaca, N.Y.
The cost of an executive MBA is substantial, in both time and money. The average executive MBA program in the U.S. and Canada costs $46,926, according to a 2004 survey by the Executive MBA Council. The priciest programs cost more than $100,000. They're exhausting too: Since an executive MBA involves staying at your job while earning a degree, you may feel like you're working two full-time jobs at once. Programs typically last for about two years and require attendance at periodic weekend or Friday classes, or evening classes. Your family's support and understanding are crucial.
With the stakes so high, companies and students are demanding more from each other and their programs. Penny Oslund, executive director of executive MBA programs at the University of North Carolina's Kenan-Flagler Business School and past chairwoman of the Executive MBA Council, says she has noticed more companies who do sponsor employees make students put their postgraduate work commitment in writing. Five or 10 years ago, the obligation would be assumed, but not necessarily put into a contract, she says.
Employers who don't contribute to the education, may lose loyalty. Amid the erosion in corporate support, nearly 30% of executive MBA students said they were looking for a new job after graduation in a 2004 survey by the Graduate Management Admission Council, an organization of business schools in McLean, Va. Two years ago, the figure was 17%.
No matter who is paying, students should look for strong programs. Professors must be accessible, quick to grade work, and use recent case studies. If your teacher is using an old case study, ask him to explain why it's relevant. Some schools administrators are advising their professors to do this already. "There are some classic cases that definitely are worth using, it's just vital that you explain why you are using that case," says Ms. Oslund.
The end cost of the program must be worth both the time and money. One obvious indication the degree is probably worth it: You're missing job opportunities because you lack the degree. But even if your career hasn't hit a roadblock, an executive MBA might still be a good idea if you think it'll pay off later.
Kerry Fehrenbach, a 39-year-old marketing executive at software company Intergraph Corp. in Huntsville, Ala., is footing most of the bill for her executive MBA at Vanderbilt University's Owen Graduate School of Management. She says she wanted to add a broader business perspective to her marketing skills "to help me do the job I do better and to look for promotion opportunities," she says. She was a bit apprehensive about the cost, but decided the degree was worth the expenditure. "It's like buying a house or a car," she says. "You have to feel comfortable that you're going to get that [investment] back and you don't know going in for certain."
Justin Williams, a 30-year-old director of business development for new media at the Cartoon Network in Atlanta, paid most of the cost of his executive MBA at the University of North Carolina Kenan-Flagler Business School. "It wasn't that I was hitting a ceiling or gunning for anything in particular, but I knew this would be something that would help define and further my knowledge about what I was able to do," he says. The timing was right too: Mr. Williams, who recently completed his degree and got married has no children yet. "I was never going to have more free time to get this done," he says.
MBA昂贵学费难阻求学人
很多企业管理人士发现，如果他们现在想去读高级工商管理硕士(Executive MBA)课程的话，他们可能必须自己支付大部分或全部的费用。
十年前，全额资助雇员去读MBA是很多大公司通行的做法。商学院设计的MBA项目通常可以让公司的管理人士一边攻读学位，一边在公司工作。公司也觉得雇员的长进值得它们为此付出成本。但随著公司开始削减成本，公司不但不再为员工提供慷慨的医疗保障及可靠的提升空间，也不再为雇员支付读书的费用了。
尽管经济形势现在已经开始复苏，就业市场回暖，但企业资助还在减少。高级工商管理硕士理事会(Executive MBA Council)的一项研究显示，2004年只有37%的学生得到了公司的全额资助，较2003年下降了3个百分点。该理事会是一个有全世界210家开设高级工商管理硕士项目的大学及商学院参加的组织。有28%的学生一点资助都没有，较2003年上升了3%。
MBA项目负责人预计短期内雇主全额资助雇员读商学院的数量不会很快回升。“随著经济复苏，情况可能会好一点，但也不会那么快”，康乃尔大学(Cornell University)的强生管理学院(Johnson Graduate School of Management)管理培训项目主管汤姆?汉波瑞(Tom Hambury)说。
攻读高级工商管理硕士很费时间，金钱成本也很高。高级工商管理硕士理事会2004年所做的调查显示，攻读高级工商管理硕士在美国和加拿大的平均学费是46,926美元，最贵的学费甚至超过10万美元。当然这也是个累人的差事：一边工作一边攻读学位，彷佛是一个人同时干两个全职工作。这样的课程通常要持续两年的时间，周五和周末上课，或者是在工作日的晚上上课。家人的支持和理解此时显得格外重要。
既然投入这样大，公司和学生对彼此的要求都会提高，他们对MBA课程的要求也更高。北卡罗来纳大学(University of North Carolina)肯南-弗拉格勒商学院(Kenan-Flagler Business School)高级工商管理硕士项目执行董事、曾经担任高级工商管理硕士理事会主席的潘妮?奥思朗德(Penny Oslund)说，她注意到越来越多提供学费资助的公司要求学生签署书面协议，承诺毕业后在公司的任职年限。她说，5至10年前，公司虽然也对雇员有这样的要求，但还不至于要把它写成合约。
没有为雇员支付学费的雇主可能会失去雇员的忠诚。研究生入学管理委员会(Graduate Management Admission Council)今年进行的一项调查显示，由于没有了公司的支持，大约30%的攻读高级工商管理硕士的学生都打算毕业后寻找新的工作。两年前，这个数字为17%。研究生入学管理委员会是一个由众多商学院参加的组织。
不管是谁付钱，求学者都应当选择最好的MBA项目。教授要有时间和学生接触，及时批改作业，上课时尽量使用最新的案例。如果老师用年代已旧的案例，就应当解释这个案例与新形势是否有关。有些学院现在已经要求教授们这样做了。“有一些经典的案例肯定值得上课讲，关键是教授要把案例的重要性讲清楚”，奥思朗德女士说。
最后的学习结果也一定要与个人付出的时间和金钱成正比。证明MBA学位可能会物有所值的一个明证是：没有这个学位，你会发现自己失去了许多工作机会。即便你的职业生涯一帆风顺，也可以读读MBA课程，以利于日后的发展。
软件公司Intergraph Corp.的营销管理人员克里?费仑巴哈(Kerry Fehrenbach)支付了自己读MBA的大部分费用。她在范德堡大学(Vanderbilt University)的欧文管理学院(Owen Graduate School of Management)念MBA。她说，希望通过MBA课程能使她在现有的营销技能基础上对企业有更全面的了解，以便更好的工作和谋求晋升。高昂的学费让她有些担忧，但不管怎样，她觉得还是物有所值。“这就好像你要买房子和汽车”，她说。“你得觉得能够收回投资，但最后的结果谁也不知道”。
今年30岁的贾斯汀?威廉姆斯(Justin Williams)支付了他在北卡罗来纳大学肯南-弗拉格勒商学院读高级工商管理硕士课程的大部分学费。他是亚特兰大的Cartoon Network新兴媒体业务发展主管。“我并没有晋升或是重新择业的问题，我只是知道这可以让我更加清楚的了解我能做什么”，他说。他读书的时机也正好：威廉姆斯刚刚完成学位，最近结婚了，但还没有孩子。“以后恐怕再没有时间来读书了”，他说。
