Financing your EMBA: Increasing your sources
Published on 19 May 2021 by NEOMA
- Executive MBA
“Small streams create large rivers,” Pascale Baudemont, Head of Marketing for Executive Education at NEOMA, said. There are many different options for financing your EMBA. Three professionals enrolled in the programme share their strategy.
François-Xavier Gérard, programme member
Your educational path: “My first course of studies was a technology degree in logistics and transport, coupled with a degree in management and an IT degree. I then quickly advanced in management roles up to my last position as managing director overseeing the restructuring and resale of a SME specialised into passenger transport. After the sale of the group, my redundancy allowed me to take advantage of an employment protection plan, which included as one of its main features keeping my net salary for a year as well as having the option of various training aids.”
Why an EMBA: “Throughout my career, in addition to management, which I started working in when I was younger, I became increasingly interested by strategy and finance. I learned about management control on my own through the CNAM. Then, my last experience as managing director solidified my interest in these types of positions where you need to tackle different social, economic and commercial challenges every day. After leaving the job, I wanted to have this experience recognised through a VAE (validation of acquired knowledge from experience). While exploring several paths forward, I became convinced that the EMBA would the programme that would allow me to put my acquired skills into a theoretical framework and expand my knowledge.”
Financing for your EMBA: “After my redundancy, my professional security contract allowed me to receive the main part of the financing from the French employment centre. As part of the employment protection plan, my company offered me financial support by covering a part of the programme’s cost as well as my travelling and accommodation expenses. I also used my professional training credits, and finally, I included a small personal contribution to the overall total.”
Mylène Monrose, programme member
Your educational path: “I have an IT engineering degree, and for the past 8 years, I’ve been an IT Service Management consultant. I work at Inetum where I am currently ITSM application representative on a project at Dalkia.”
Why an EMBA: “First, the EMBA suits me as a application manager. My new responsibilities require me to manage a team and have excellent relations with the key positions (application managers, regional managers). The EMBA will allow me to develop my managerial skills and understand client needs.
“The EMBA is also the right choice because I’m interested in NEOMA’s international component. Other professionals in the programme come from different countries such as China, Germany and the United States. They have managerial, IT and HR profiles with different backgrounds and different ways of working. I wanted to meet people who would open new horizons to me. It is also very important to me that the EMBA offers an international learning experience in New York and Ghana.
“Lastly, I’m seeking greater personal development in NEOMA’s EMBA. The programme focuses on self-improvement, emotional intelligence development, professional, social and personal relations management while also offering the chance to develop greater resilience and self-confidence. These are transformative elements that are vital.
“For me, the EMBA is a personally transformative programme where our skills are highlighted, expanded and affirmed. They have a major positive impact on both our professional and personal lives.”
Financing for your EMBA: “I applied very early in the spring of 2020 for the autumn semester, which gave me early bird status. I received grants through NEOMA. School also has partnerships with banks. Some of them at the time gave interest-free, 5,000-euro loans and other large loans at 0.80%. For the rest of the tuition, the APEC advised me to use my professional training credits. My advice for anyone who wants to enter an EMBA is to start the process far in advance.”
Thierry Chassara, programme member
Your educational path: “I have an Arts and Métiers engineering degree. I’ve worked for a quite a while at a French company in the industrial sector and through a promotion that I received in 2020, I advanced to a managerial position. Attaining this position opened the door to further training. I couldn’t advance in the industrial sector without being in the management.”
Why an EMBA: “We are part of a big Japanese group. There are business units located everywhere around the world, and an EMBA makes it easier to navigate this corporate structure. I also needed to update my skill level. I spent my entire career in factories. I even built a factory. I was rooted in the industrial sector and its methods and production, but that didn’t offer me an understanding of finance, marketing or strategy, which I need in my position.”
Financing for your EMBA: “I planned to do this for several years, but I needed to be promoted to my managerial post before my company could finance the programme. When the opportunity arrived, I contacted NEOMA. In the end, my employer covered 85% of the programme and I covered the rest with my professional training credits. My company pays the ancillary expenses for travel and lodging.
“My advice. It took me a long time. But don’t lose hope! You need to be patient, motivated and persistent. Always make your presence felt among your superiors and HR department. Once I got the green light, I didn’t have any trouble.”
Advice from NEOMA
Pascale Baudemont, Head Marketing for Executive Education
“Finding financing is kind of like the EMBA before the real EMBA. It takes work. Like a project that you’re going to pitch or sell, you already have a task to do. There is no magic to it. You just need to start down the road and look for resources in an organised, voluntary way, knowing that small streams create large rivers. Make sure not to put limits on yourself. There are many different solutions for financing an EMBA.
“The two head hunters at NEOMA, recruitment and business managers, are supportive. They can help applicants. They review CVs and applicant intentions. They validate the added value of the programme in relation to one’s professional project. And as for your company, it’s all about negotiation.”
Olivier Lefaivre, Directeur Business Unit Global Executive MBA
“Think about using your bonus. For a 100-euro bonus, you get 60 euros, but that costs the company 150 euros. It can pay the 150 euros directly to the school. By working the expenses game, you can come up with a lot of money: The net gain in 90 euros, which otherwise you would not see a cent of.”