As a business graduate working for KPMG, you may often consider enrolling in MBA to advance your career and enhance your industry knowledge. However, taking this step is difficult with rising tuition fees and living expenses, leaving you wondering whether the company will pay for your tuition.
Being a leading accounting firm and part of the ‘Big 4,’ KPMG offers its employees numerous career development opportunities, including sponsorship for MBA. However, there are several limitations to having your MBA sponsored!
In this article, I’ll check out:
- KPMG’s MBA sponsorship program
- Eligibility criteria for having your MBA sponsored
- Application process
- KPMG’s relaxation while pursuing MBA
- And much more…!
So, does KPMG pay for your MBA? If this is the circumstance, this will be a win-win situation for you and KPMG, as you can resume work and earn a salary while pursuing your degree, and the company benefits from having a more knowledgeable and skilled workforce.
Table of Contents
KPMG MBA Sponsorship Program
KPMG offers eligible employees two types of MBA sponsorships – Full and Partial. In addition, the company may also provide a loan program if the workers wish to pursue a master’s on their own but need financial assistance.
1. Full Sponsorship
KPMG’s Full Sponsorship program covers tuition fees and related expenses for eligible employees pursuing an MBA. However, this program is highly competitive, and only a few exceptional employees are selected each year.
To be eligible for full sponsorship, you must meet the following criteria:
- Working for KPMG for at least three years
- Demonstrate strong performance and potential for growth within the company
- Obtain admission to an MBA program at an accredited institution
- Commit to returning to KPMG for a minimum of two years after completing the MBA program
2. Partial Sponsorship
KPMG’s Partial Sponsorship program covers only half of the tuition fees for eligible employees pursuing an MBA. This program is less competitive than the Full Sponsorship one, and more employees will likely receive this sponsorship.
The eligibility criteria for this sponsorship are similar to the full one. The only difference is that the required work experience at KPMG is one year less.
A Quora Contributor says, “KPMG would surely not pay the full course fee, and even if they pay a partial amount, then there would be an employment bond which will state a minimum period the employee needs to serve the company post completion of the course.”
3. Loan Program
KPMG’s loan program provides financial assistance to employees who want to study MBA independently but need financial support. This loan program offers a low-interest rate compared to market rates.
If you work at the firm, you can also negotiate the repayment period based on your needs.
Here are some conditions you must fulfill to get a loan for an MBA degree.
- One year of work experience at KPMG
- Have been taken into an MBA program at an accredited institution
- Have a minimum credit score of 650
Application Process for KPMG MBA Sponsorship,
The application process for KPMG MBA sponsorship is a bit complicated and involves several steps. Here is an overview of the procedure:
Step 1. Self-Assessment
Before applying for MBA sponsorship, you should self-assess to determine if you satisfy the eligibility criteria and if pursuing this degree aligns with your career goals.
Step 2. Application Submission
Next, you must submit a formal application for MBA sponsorship at KPMG. The application typically includes a personal statement, resume, and academic transcripts.
Step 3. Wait For The Interview Call
After being selected for the next stage of the process, you’ll be invited for an interview. This may include a telephonic discussion and one or more in-person interviews with KPMG executives.
Step 4. Approval and Moving Forward
If selected for MBA sponsorship, you will receive a formal offer letter outlining the terms and conditions of the sponsorship.
Benefits of Pursuing an MBA while at KPMG
Several parks to pursuing an MBA while working at KPMG are described in the table below:
Enhanced Career Opportunities
|An MBA can give you the proficiency and skills to advance your career within KPMG.|
|According to the Graduate Management Admission Council, employees who hold an MBA can earn significantly higher salaries than those without an MBA.|
|An MBA can provide you with valuable networking opportunities, including access to KPMG alumni and other business professionals.|
|KPMG offers flexible work arrangements, including working remotely or working reduced hours while pursuing an MBA.|
KPMG’s MBA Support
KPMG does offer support for employees pursuing an MBA, but the specific benefits vary by region. The company generally provides financial support, time off, and mentoring. Here are some of the details:
1. Financial Support
KPMG typically offers financial assistance to you other than tuition fees for pursuing an MBA, but the amount of support varies by region.
However, financial support is often tied to your performance and commitment to the firm.
2. Time Off
KPMG recognizes that pursuing an MBA requires a significant time commitment, so the firm offers time off for employees enrolled in this program.
The amount of time off varies by region and may depend on your position and workload.
Some provinces may offer a sabbatical for you, while others allow you to take a leave of absence or work reduced hours.
In addition to financial support and time off, KPMG mentors MBA employees.
Mentors are typically senior leaders within the firm who can guide and advise on navigating the degree and balancing schoolwork with work responsibilities.
Mentoring can be particularly valuable for you pursuing an MBA part-time while continuing to work full-time.
The table below summarizes KPMG’s MBA support policies:
|Concession||Description||Variations by Region|
|Financial Support||KPMG offers financial assistance for employees pursuing an MBA.||Full tuition coverage, partial reimbursement, or loan|
|Time Off||KPMG offers time off for employees doing an MBA.||Sabbatical, leave of absence, or reduced hours|
|Mentoring||KPMG provides mentoring for employees pursuing an MBA.||Senior leaders within the firm|
In this article, I’ve discussed “Does KPMG pay for your MBA” in detail. When considering an advanced career at KPMG, it’s essential to recognize that the work environment can be demanding and filled with high-pressure situations.
Consequently, individuals must carefully weigh the necessity of an MBA and assess whether its advantages outweigh the time constraints and stresses associated with the job.