A master’s in business administration (MBA) has consistently been recognized as a great investment for those looking to further their careers. Concentrations in strategy, marketing management, entrepreneurship, finance and other economic fields command the highest salaries among MBA graduates, according to the Princeton Review.
In many cases, big companies are willing to pay top dollar for employees who have an MBA, and some will commit to helping employees pay their way through school. MBAs with at least 10 years of experience earned an average salary of $98,000 per year, according to a survey from PayScale.
Among the participants in the survey, 1.4 percent had less than one year of work experience with an annual salary of $51,396, while more experienced MBAs with four years of experience or less (22 percent), reported an average salary of $60,541.
As the cost of higher education continues to rise, company-sponsored MBA degrees are becoming more appealing for those looking to progress in their careers without breaking the bank.
Here is a list of companies offering competitive tuition assistance programs:
Wells Fargo
Wells Fargo offers employees who want to earn an MBA up to $5,000 per year. For employees with children pursuing higher education, up to $3,000 in awards may be applied to the cost of their child’s education.
Apple
Apple topped the list in the technology sector for companies offering tuition assistance. The company will provide tuition assistance for $5,000 each year toward an MBA degree.
Bank Of America
The financial services industry also places high value on furthering the education of employees. Bank of America offers employees $5,250 in tuition assistance each year for advanced degree job-related coursework.
Intel
Intel is a technology company headquartered in Santa Clara, Calif. This company has one of the most competitive tuition reimbursement programs in the tech industry as the company agrees to pay 100 percent of reimbursable education costs.
Ford
Ford is a leader in the automotive industry when it comes to helping its employees further their education. The company offers up to $5,000 each year for the cost of an MBA. The company also offers up to $400 each year for textbook reimbursements for all textbooks, e-books and rentals.
AT&T
AT&T employees will be eligible for tuition reimbursement after 12 months working for the company. The company offers $5,250 annually in tuition reimbursement for coursework, and employees are eligible for up to $25,000 in reimbursements for graduate school expenses.
Procter & Gamble
Procter & Gamble is leading in the consumer goods industry for employee tuition assistance programs. The company will cover 80 percent of education costs with a limit of $40,000 in assistance total.
Chevron
Chevron is a leading energy company headquartered in San Ramon, Calif. Chevron leads the energy sector in tuition reimbursements, offering its employees payments of up to $75,000.
Raytheon
Raytheon is a leading technology company that specializes in defense, cybersecurity and civil government technologies. The company pays up to 100 percent of graduate school tuition.
Deloitte
Deloitte is a consulting company recognized for its high starting salaries for new MBAs. According to Poets and Quants, Deloitte offered starting packages totaling $228,000 to recent graduates joining the firm. Deloitte offers employees $10,000 per year in MBA reimbursements after two years of employment.
