Tag: MBA tuition

Mastering the Employer Support Conversation,
As Told by Current MBAs

Pursuing an MBA while working full-time allows you to immediately apply new skills and knowledge to drive your career forward. For those considering an MBA program, seeking employer tuition support can supplement your financial planning and make a top-ranked program more accessible. The Texas McCombs School of Business offers Evening and Executive MBA options in Austin, and Weekend MBA programs in Dallas/Fort Worth and Houston, all catered to working professionals, giving you the the ability to complete your advanced studies without career disruption. As you consider Texas McCombs and determine how to fund this investment, here’s how to have an effective conversation about receiving tuition support from your company.  

First, employer tuition support refers to companies funding all or part of an employee’s graduate school costs. This usually includes tuition reimbursement up to a set amount per year. It may also cover textbook purchases, travel for residencies, and time off to study and attend classes.  

Securing MBA employer support can be advantageous for both employees pursuing further education, as well as for companies supporting their staff. Some key advantages include:  

Benefits for Employees Benefits for Employers
Reduce out-of-pocket education expenses Improve talent retention
Position yourself for a promotion Encourage professional development
Gain skills to help you advance Gain employees with upgraded skills

Initiating the Support Conversation 

When looking to secure employer support for an MBA program, it is strategic to lay the groundwork with your manager early on. A current Dallas MBA student said, “My biggest piece of advice is to start the conversation with your manager about your MBA early on. Once I started doing research, I sought out my manager’s advice. We discussed my decision criteria, whether it was the right time to go, etc. This way, when it came time to talk about employer support it was 1 – not a surprise and 2 – came from a place of furthering my career, which is beneficial for both parties.” 

When the time comes to formally request financial backing, prepare specifics on your program of interest and anticipated costs. Antonio Hung (MBA at Houston) took this approach by first getting organized and gathering all the information possible.

“First, I made sure to understand our company’s sponsorship policies, then I set up a face-to-face meeting on a Friday afternoon with my manager to talk about my career goals and how pursuing an MBA could benefit both me and the organization. I was honest and transparent about my ambitions and how the program could contribute to our mutual success.”

The most compelling case ties your development to benefits for your employer. As Michael De Lucia (Evening MBA) did, “I explained that I thought getting my MBA would help me to be a more effective leader and build more core competencies that would directly benefit our team.” He connected his request to previous career path discussions showing how the MBA aligned with his roadmap, and highlighted how bringing back knowledge could aid his team. 

Tips for an Effective Discussion 

Having an organized, compelling case for tuition assistance is key to securing employer support and sponsorship. Useful strategies include: 

  • Looking at our curriculum to find specific classes/opportunities that McCombs provides that would benefit your company’s objectives and help you improve or advance in your role
  • Highlight the access to expert faculty and a wide range of other business professionals to learn from and to help you spark new ideas
  • Emphasize the strength of the Longhorn Network of students and alumni. This can come in handy should your company have openings they need to fill
  • Quantify the anticipated return on investment and performance benefits 
  • Align your goals to your manager’s career plans for you
  • Start the conversation early while applying, when your reasons for pursuing an MBA are fresh 

In my case, the areas I wanted to develop through the MBA were roughly the same developmental areas that I knew were going to get me on a better trajectory inside my current company, so I leveraged some of the same talking points from my application and my essays to talk to my manager about it,” said Giuliano Seguro (Evening MBA). “I also anchored on the example of peers and other people at the company that also had done an MBA and how it affected their trajectory within the company. One thing that really helped was introducing my manager to the managers of these other peers that had gone through the MBA so that my manager could understand from someone in their position what was like for them to have someone on their team that had gone through a similar program.” 

Addressing Challenges &
Managing Expectations

Your manager may be hesitant for reasons like budget restrictions or concerns about work disruptions. Be ready to make a case by highlighting your past performance. Offer reasonable accommodations like using vacation time to attend residencies or making up hours spent in classes. 

One of the more significant challenges I encountered during my MBA was a change of reporting lines,” said Kelly Benda (MBA at Houston). With the managerial change, I needed to be sure that my new manager was not only aware of the sponsorship agreement, but also supportive of the associated time commitment. To make sure each transition went smoothly, I initiated the discussion early.Every manager is different, but transparency was always the priority. I outlined the time commitments and potential impacts to my schedule and work. In some of my roles, my job included some weekend operational support, so I was constantly communicating with my manager when I was concerned about any conflicts with the weekend class schedule.”

Once support is secured, it’s vital to proactively manage expectations. Schedule regular check-ins with your manager to discuss program updates, workload changes, and potential flexibility needed for exams or course commitments. Come prepared with clear talking points and be transparent about any struggles so you can collaboratively problem-solve.

Seguro emphasized overcommunication: “I made sure that nothing came as a surprise to my manager at any time during the program. I had to get out of my comfort zone and learn to ask for help when needed. My manager knew what was going on with my MBA at all times and whenever I needed to re-balance priorities at work to fit the MBA and vice-versa, we were always able to find a solution together.” 

Share what you learn in the classroom with your manager and team. Not only does this benefit your team with the latest research on a topic, but it also demonstrates the value your employer is gaining by sponsoring you in the program. Often you will have the opportunity to use a team project assignment in class to solve an issue for your company. Look for these opportunities to showcase the benefits your employer is gaining through your experience and connections. 

I had a frank conversation with my manager on what I thought I would be able to reasonably take on while pursuing my MBA and they were candid in their expectations towards me. I detailed out the structure of the program (e.g. class Monday & Tuesday) and how I would be unavailable during those times but offered that I would be able to make up for that later in the week should it be needed,” DeLucia said. “My manager set the expectation that I prioritize and get my work done on time and that if there were things that I was struggling with bandwidth-wise that I would communicate and be upfront about it.”  

How Sponsorship Shapes Your
Career Trajectory
 

Securing employer assistance for MBA tuition not only eases financial barriers but influences career growth in meaningful ways. By backing educational investment in their people, companies open up expanded advancement routes and signal retention priorities. 

As Hung shared, it “gave me the confidence to pursue a working professional MBA without compromising my career trajectory. It reinforced my commitment to personal and professional growth while strengthening my alignment with the organization’s goals.” When companies invest in tuition assistance, it signals retention plans and advancement potential. 

For DeLucia, getting employer support approval “solidified that I would be able to successfully pursue the degree financially” and served as a catalyst. By easing the monetary constraints, he could accelerate his timeline and optimize his learning. 

The fresh knowledge gained also opens up new trajectories internally. As Seguro experienced, support enabled realizing “there was still runway for me to grow inside the company in areas I didn’t think possible before the MBA.” New business perspectives connected opportunities to pivot roles. 

As Matt Bowen (Evening MBA) summarized, sponsorship facilitates “this great synergy where what you learn on Monday, you can apply on Tuesday and what is learned on Tuesday gets applied on Wednesday, and so on.” When companies sponsor tuition, they reap the benefits of elevated employee skills and can quickly apply emerging lessons at work. The outcome is growth and mobility for both sponsored professionals and their supportive employers alike. 

Pursuing an MBA while maintaining your career is a challenging yet rewarding path that leads to immense personal and professional growth. By securing employer tuition support, financial barriers are reduced and unique opportunities are unlocked. With transparent communication, shared vision, and ongoing collaboration, employees and companies together reap the multitude of benefits from this valuable investment. The outcome is strategically aligned career progression, optimized talent development, and synergistic gains on both sides. Now equipped with tips for securing sponsorship, you can confidently initiate the conversation and put plans in motion to propel yourself toward your next-level goals. 


Visit Texas McCombs MBA to learn more about our programs and upcoming events or take a peek into student life on Instagram. For any inquiries, don’t hesitate to reach out to the MBA Admissions Team. We look forward to connecting with you on your journey to success.

Hook ‘Em!

Exploring Scholarships
and Loan Options

We understand that pursuing your MBA at a top school is a big investment in your future.  As you explore ways to further your education and accelerate your career trajectory, we invite you to think about defining your own  return on investment (ROI).  Are you looking for a promotion or salary increase?  Or are you searching for a new challenge or a way to align your personal and professional aspirations? It may be all of the above, so define your ROI as you consider an MBA for your academic and professional future.  

Texas McCombs is ranked No. 20 and is one of the most affordable MBA programs compared to the other top 20 programs in U.S. News and World Reports Top 20 Business Schools of 2023. Tuition is $52,550 for Texas Residents and $58,720 for residents out-of-state. 

Bar graph that highlights that Texas McCombs has the most affordable tuition cost compared to the top 20 business schools ranked by U.S. News and World Report, 2023

To make your MBA future more attainable, Texas McCombs provides financial assistance to many students to help cover the  cost of education. The most common financial assistance comes in the form of student loans, but other options may help fund your MBA. We invite you to review the options below to help facilitate your personal ROI for your MBA.  

Recruiting Scholarships

Texas McCombs offers merit-based recruiting scholarships funded through the generous support of individual donors and corporate supporters. All applicants are automatically considered for recruiting scholarships during the admissions review process. Recruiting scholarships are offered to domestic and international candidates who demonstrate a superior record of academic merit and professional accomplishments.  

The MBA Program’s scholarship funding varies from year to year, thus the percentage of students who receive scholarships will also vary from year to year.  This past admissions cycle, 77% of Admitted Full-Time MBA students received scholarship offers.  Scholarships range from $2,000 to full-tuition awards.  

For International candidates, 86% of enrolled students received scholarship offers.  

Banner that represents scholarship info: 86% enrolled international students received scholarships; 77% admitted students received scholarships; $21,000 average scholarship amount awarded; $20,000 median scholarship per year.

In tandem with our recruiting scholarships, McCombs partners with Bay Area for McCombs, Consortium for Graduate Study in Management, Teach for America, Forté Foundation, and Reaching Out MBA to allocate selective scholarship and Fellowship designations to top admitted candidates.  

2nd Year Student Scholarships 

At the end of the first year, Full-Time MBA students are invited to apply for a continuing student scholarship for their second year. These awards typically range anywhere from $1,000-$5,000. The 2nd Year Full-Time MBA Scholarship awards are given based on a students academic performance, leadership, and involvement during their first year in the program, as well as financial need. 

Institutional Scholarships 

The UT Austin Office of Scholarships and Financial Aid (OSFA) administers institutional endowed scholarships for continuing students.  First-year MBAs may qualify for these scholarships and can begin applying in November of their first year.  Students should review the specific criteria and application procedures carefully and reach out to McCombs Financial Aid with any questions.  

Federal Loans 

Many students are eligible for federal student loans and, in some cases, grants. You must complete a Free Application for Federal Student Aid (FAFSA) to determine your eligibility. This year, the FAFSA for the 2024-2025  school year will be available in December 2023 with a priority deadline of March 15, 2024. It is recommended you have your FAFSA completed by June 1, 2024. Students who are eligible to complete the FAFSA are U.S. Citizens, Permanent Residents, and other eligible non-citizens

Private Education Loans  

Private/alternative loans are not offered by federal or state governments. As a result, the terms of the loan will vary from lender to lender. If pursuing a private loan, check with your lender about the length of time your application will remain valid to ensure your approval won’t expire before you actually start the program. 

For ethical reasons, the McCombs MBA Financial Aid team cannot recommend any private lenders but will work with all banks and lending institutions once you’ve been approved. If you have any questions about the loan, please contact the lender.  

Loans for International Students 

For international students, there may be private loan options, with or without a U.S. citizen or permanent resident co-signer. (Note: We, as The University of Texas at Austin, cannot be your co-signer, nor can we recommend any specific lenders.) The student-run International MBA Student Association (IMBASA) is a good resource for information about pursuing an MBA as an international student. You are encouraged to reach out to IMBASA with any questions.  


Most students finance their MBA education using multiple sources— a combination of personal savings and loans and, in some cases, scholarship funding. Before you apply to business school, do research on how to finance your education, please reach out to the MBA Admissions Team with any questions. 

If you have any questions during the application process, we’re here to help. Please visit our website for details on applying to each program and follow us on Instagram for an inside look into the Texas McCombs MBA. 

Good luck and Hook ’em! 

Exploring Scholarships and
Loan Options

We understand that pursuing your MBA at a top school is a big investment in your future. As you explore ways to further your education and accelerate your career trajectory, we invite you to think about defining your own return on investment (ROI).  Are you looking for a promotion or salary increase?  Or are you searching for a new challenge or a way to align your personal and professional aspirations? It may be all of the above, so define your ROI as you consider an MBA for your academic and professional future. 

To make your MBA future more attainable, Texas McCombs provides financial assistance to many students to help cover the cost of education. The most common financial assistance comes in the form of student loans, but other options may help fund your MBA. We invite you to review the options below to help facilitate your personal ROI for your MBA. 

Recruiting Scholarships

scholarship graphic - 75% of admitted students were award scholarships

Texas McCombs offers merit-based recruiting scholarships funded through the generous support of individual donors and corporate supporters. All applicants are automatically considered for recruiting scholarships during the admissions review process. Recruiting scholarships are offered to domestic and international candidates who demonstrate a superior record of academic merit and professional accomplishments. 

Texas McCombs designates the first-round application deadline as the priority deadline for scholarships and fellowships. 

The MBA Program’s scholarship funding varies from year to year, thus the percentage of students who receive scholarships will also vary from year to year.  This past admissions cycle, 75% of Admitted Full-Time MBA students received scholarship offers. Scholarships range from $2,000 to full-tuition awards. 

For International candidates, 75% of enrolled students received scholarship offers. 

In tandem with our recruiting scholarships, McCombs partners with Bay Area for McCombs, Consortium for Graduate Study in Management, Teach for America, Forté Foundation, and Reaching Out MBA to allocate selective scholarship and Fellowship designations to top admitted candidates. 

2nd Year Student Scholarships

At the end of the first year, Full-Time MBA students are invited to apply for a continuing student scholarship for their second year. These awards typically range anywhere from $1,000-$5,000. The 2nd Year Full-Time MBA Scholarship awards are given based on academic performance, leadership, and involvement during their first year in the program, as well as financial need. 

Institutional Scholarships

The UT Austin Office of Financial Aid administers institutional endowed scholarships for continuing students that first-year MBAs may qualify for, beginning in November of their first year. First-year MBA students may be eligible to apply, but please review the specific criteria and application procedures carefully and reach out to McCombs Financial Aid with any questions. 

Federal Loans

Many students are eligible for federal student loans and in some cases, grants. To determine your eligibility you must complete a Free Application for Federal Student Aid (FAFSA). The FAFSA for the 2022-2023 school year will be available on October 1, and Texas has a priority deadline of January 15. At the latest, it is recommended that you have your FAFSA completed by June 1. Students who are eligible to complete the FAFSA are U.S. Citizens, Permanent Residents, and other eligible non-citizens. Please watch this two-minute video for help with the financial aid application process. 

Private Education Loans 

Private/alternative loans are not offered by federal or state governments. As a result, the terms of the loan will vary from lender to lender. If pursuing a private loan, check with your lender about the length of time your application will remain valid to ensure your approval won’t expire before you actually start the program. 

The Texas McCombs MBA Financial Aid team cannot recommend any private loans but will work with all banks and lending institutions once you’ve been approved. 

Loans for International Students 

For international students, there may be private loan options, with or without a U.S. citizen or permanent resident co-signer. (Note: We, as The University of Texas at Austin, cannot be your co-signer, nor can we recommend any specific lenders.) The student-run International MBA Student Association (IMBASA) is a good resource for information about pursuing an MBA as an international student. You are encouraged to reach out to IMBASA with any questions. 


Most students finance their MBA education using multiple sources— a combination of personal savings and loans and, in some cases, scholarship funding. Before you apply to business school, do research on how to finance your education, please reach out to the MBA Admissions Team with any questions.

Visit Texas McCombs MBA to learn more about our programs and upcoming events, or take a peek into student life on Instagram. Check out our Application Process page for more information on application components.

Good luck and Hook ’em!

Your MBA Return on Investment

 

Pursuing an MBA is a significant commitment of time and financial resources. At Texas McCombs, we understand that finding the best return on your MBA investment (ROI) is a priority. We are proud to have been consistently named a “Best Value” among Top 20 MBA programs!

In addition to (McCombs) having the lowest tuition and fees out of the top 20 schools for the last two years, McCombs’ grads had the largest gap between how much students made after graduation and how much they owed." U.S. News, 2017

As you evaluate the ROI for business schools you are considering, remember that the benefits of a top-ranked MBA go way beyond the potential for a higher salary.  Growing your professional network, and the expansion of knowledge and skills should also play a role in evaluating  ROI.

 

Expand Your Network

Texas McCombs is a globally recognized brand. When you join the program, you gain priceless membership in a lifelong alumni network that will continue to support and accelerate your career. Our alumni take great pride in giving back to this campus by helping mentor, support – and often hire – Texas McCombs students. Being a UT Austin alumni connects you to the most innovative leaders, thinkers, and doers around the world. You are a Longhorn for life.

The Texas McCombs and UT Austin Network

500,000+ UT Alumni
25,000+ MBA Alumni
100,000+ McCombs Alumni
30+ McCombs Alumni Chapters

 

The Numbers

Of course tuition and living costs are also considered in your ROI. Your individual considerations will vary when it comes to funding your MBA, but it’s always good to note current estimated tuition for the year you plan to start the program, cost of living, and any anticipated scholarships or financial aid.

Texas McCombs MBA Tuition

Current estimated annual tuition rate for the Full-Time MBA is $51,020 for Texas residents and $56,572 for non-Texas residents.

Texas McCombs MBA compares favorably against the national averages of $60,000 & $65,000, respectively, charged by other top 20 MBA programs at public universities. And the average annual tuition rate for private institutions in the top 10 is $72,485.

On average, 40-45% of admitted Texas McCombs Full-time MBA students receive scholarship offers.

Cost of Living in Austin

The cost of living in Austin is less than in many major cities. What costs $1 here is:
$1.56 in New York,
$1.43 in San Francisco,
$1.32 in Boston,
$1.30 in Los Angeles,
$1.29 in Seattle, and
$1.18 in Chicago

Texas consistently ranks as one of the nation’s most favorable business climates. Read more about the cost of living here.

 

Knowledge & Skills

While most graduate programs narrow your subject matter expertise through extensive research activities on a specific topic, an MBA curriculum allows you to learn about a variety of industries and business functions resulting in increased flexibility in potential career paths.

Texas McCombs is currently ranked in the top 3 for Business Analytics, Marketing and Accounting– we are consistently no. 1 for Accounting.  The MBA also offers a new “Leading for Impact” curriculum component to provide focused individual assessment & leadership coaching within your MBA.


The value of your graduate degree is measured in more than dollars and cents. If you have any questions about the opportunities offered at Texas McCombs or how your goals may fit with our program, please reach out to us.

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