Embarking on a learning journey while employed is a transformative decision, one that can propel your career to new heights. After some years working in your company or sector, you will have already gained some knowledge and insights into various aspects of the business. But there is always room for improvement and growth.

But, as with any significant investment, paying for your studies is often a primary concern for many prospective students. One avenue that is well worth exploring is employer-sponsored education. 

“We’ve found that employers will pay some or all of an employee’s tuition fees if they believe in the benefits of further study for the employee, and therefore the organisation,” says Nondumiso Somazembe at the UCT Graduate School of Business’s Career Leadership Centre. “But the employee should make a strong case for the studies, and how they would boost the company they work for.”

Here’s a step-by step guide into how you can approach your employer to fund your personal and professional growth, complete with first-hand experiences and insights.

Outline the Process

Step 1: Research and Prepare  Before initiating a conversation, arm yourself with all pertinent information about the UCT GSB programme of your choice, its benefits, and its alignment with your current role and the company’s goals.

Step 2: Build Your Case  Draft a compelling proposal highlighting how the programme will enhance your skills, leading to increased value for the company. Discuss potential ROI, such as bringing innovative strategies, expanding networks, or spearheading new projects.

Step 3: Schedule a Meeting  Seek a formal meeting with your immediate supervisor, HR, or the Learning & Development department. Present your case with clarity, confidence, and enthusiasm.

Step 4: Negotiation  Be prepared for a negotiation. Employers might offer partial funding or have conditions like a commitment to stay with the company for a certain period after your graduation.

Step 5: Formalise the Agreement Document the terms of the funding agreement, including the duration of support, any repayment obligations, and any conditions or expectations on both sides.

Step 6: Stay Engaged Maintain open communication with your employer throughout your MBA journey. Keep them informed of your progress, share insights and learnings from your studies, and demonstrate the impact of their investment in your professional development – and its effect on your organisation.

Pros and Cons of Employer Funding

Pros:

• Peace of Mind: The foremost advantage is obviously the significant reduction or elimination of the financial burden of the academic programme on yourself personally. But don’t take this for granted; be committed.
• Immediate company benefit: Several of the UCT GSB’s programmes are modular – meaning that you can apply your learnings in the workplace as you progress, with immediate benefits for your organisation.
• Career Security: With your employer's investment in your education, there's a higher likelihood of job security and potential fast-tracked promotions, especially if you demonstrate the benefits of your growth.
• Networking: Engaging in a cohort of like-minded personal-growth-hackers while still employed allows for the building of connections beneficial to both you and your sponsor. Because at the end of the day, good business is about mutually beneficial relationships.

Cons:

• Commitment: Employers might require you to commit to staying with the company for a predetermined period, limiting immediate external job opportunities. Use this to your advantage. 
• Pressure: Balancing work and study can be demanding, with increased expectations from the employer regarding performance.
• Expectations: Your employer might demand an unrealistic level of performance from you as a result of their investment – be sure to discuss and agree on performance levels during your studies.

Advice from UCT GSB alumni:

“What I did was basically calculate the possible investment return to the organisation and posed it to my chairman. He immediately agreed that it makes sense and approved my request. No one says no to a good investment, if they can afford it.”

– Ochse Lombard 

MBA, 2023
UCT Graduate School of Business

“First and foremost be clear on why you want to do it. It is a long, and time intensive journey and requires oodles of dedication and commitment. If you have this personal clarity then motivating your employer to support you will come naturally. Most employers want employees who want to develop themselves and have the work ethic and conviction to make it happen.”

– Justine Liebenberg 

MBA, 2022
UCT Graduate School of Business

What their employers had to say:

“Illovo believes further studies for our employees is an investment that yields results to both the individual and organisation. Justine’s studies allowed her to expand her knowledge and skills which brought fresh insights, innovation and enhanced capabilities to her current role, contributing to the overall success and growth of her function.”

– Jadine Appalsamy HR manager, Illovo

“Investing in personal and professional development has always been important to Bontebok Limeworks – our people are the backbone of our business and culture. Apart from the obvious upskilling of the employee, we also found that Ochse brought back external skills and more confidence in strategic discussions that would not have been possible from mere work experience – or at least the programme accelerated this. The company benefitted in ways that we could not have foreseen at the time.” 

– Andre Uys

Chairman, Bontebok Limeworks

Conclusion: a win-win situation

Employer funding can be a valuable resource to support your professional development and advance your career. 

A qualification from the UCT GSB can be a game-changer – both for yourself and your organisation. It’s a journey of growth, not just for the employee but also for the organisation. With thorough research, a compelling proposal, and open communication, you can make this vision a shared one with your employer. 

By following these steps and effectively presenting your case, you can increase your chances of securing employer funding for your MBA at the UCT GSB and take your career to new heights.