Getting your masters of business administration degree (MBA) not only helps you to pursue your passions, it can also help you to earn a considerably higher salary. A survey from PayScale shows experienced employees, those with 10 or more years of experience, report earning an average annual salary of $98,252. Many companies in 2016 are willing to pay high-tier salaries for workers with MBAs and are also willing to help in financing these educational accomplishments.
The following is a list of 10 highly reputable companies in the United States that place a high value on their tuition assistance benefits, providing tuition reimbursement for the educational costs of an MBA.
The Real Cost Of An MBA
Consulting companies lead the market in tuition reimbursement programs for MBA courses. These firms also top the list of firms that pay the highest salaries for MBA alumni. Deloitte provides employees with up to $10,000 per year in MBA reimbursements. The firm requires two years of work with the company and a commitment to work for the company after graduation in order to receive the tuition assistance benefit.
Bank of America
Financial companies also place a high value on employees with MBAs, paying those employees some of the top salaries in the industry. Bank of America (NYSE: BAC) is one example. It provides employees with annual tuition assistance of up to $5,250 for advanced degree coursework.
Wells Fargo (NYSE: WFC) also tops the list of financial companies valuing tuition assistance benefits. The firm provides up to $5,000 annually for eligible tuition expenses.
Technology sector companies are high on the list of firms willing to pay MBA tuition expenses. Apple (NASDAQ: AAPL) tops the list of companies in the technology sector offering leading tuition assistance benefits, with the firm providing tuition reimbursement of up to $5,000 annually.
In the technology sector, Intel (NASDAQ: INTC) has leading tuition reimbursement benefits for its employees. The company pays 100% of reimbursable educational costs, which include tuition and textbooks.
In the specialty defense technology sector, MBA degrees are highly valued by leading companies in the industry. As one of the top defense technology companies in the world, Raytheon (NYSE: RTN) is a leader in tuition assistance reimbursement benefits. The company pays up to 100% of employees’ college tuition for graduate school.
Energy sector company, Chevron (NYSE: CVX), is a market leader in tuition assistance reimbursement benefits. The company offers tuition reimbursement of up to 75% for its employees.
In the automotive sector, Ford (NYSE: F) is one of the leading companies valuing tuition reimbursement assistance. The company has an education tuition assistance program, and it provides employees with tuition reimbursement of up to $5,000 annually for an MBA.
Procter & Gamble
Procter and Gamble (NYSE: PG) has leading tuition reimbursement benefits in the consumer goods industry. The firm provides reimbursement for up to 80% of educational costs with a limit at $40,000.
AT&T (NYSE: T) provides employees with up to $5,250 annually for tuition assistance. Employees can be reimbursed up to $25,000 for graduate school courses.
The Bottom Line
Overall, getting your MBA can be a valuable endeavor for a number of reasons, with one being the return on investment you receive from a top-level salary. While graduate school can be daunting, the tuition you pay doesn’t have to be. With more and more companies placing a higher importance on tuition assistance reimbursement programs, the opportunities for paid MBA educational expenses are greatly expanding. Passionate employees with high career aspirations who take advantage of these benefits are richly rewarded with top-tier salaries in their industry at companies that value their insight and provide them with broader career growth opportunities.