Financing Your MBA Guide

FINANCING YOUR MBA

Tips for Getting the Best ROI

WHICH PROGRAM IS RIGHT FOR YOU? ONE

MBA. FOUR FORMATS.

Figuring out how to finance your MBA is directly tied to figuring out which MBA program you’d like to pursue, as each format has distinct costs and considerations. Take a moment to evaluate our MBA formats and see what might work best for you.

The David Eccles School of Business has four great MBA options – full-time, hybrid, online, and weekend formats – designed to suit every type of student and schedule. Taught by top-ranked faculty, you will learn from the best in the field. Whether you want to build a foundation of fundamental business skills or take your career to the next level – we have something for you.

Full-Time MBA

In-person learning

Day & evening classes

4 semesters

21 months long

Average age: 29

Average work experience: 5 years

GMAT 600 – 750+ or GRE 300 – 325+

Professional MBA

Hybrid format

2 evenings per week

(In-person / online)

6 semesters

24 months long

Average age: 30

Average work experience: 6 years

GMAT or GRE accepted

Substitution available

MBA Online

Online learning

Content available 24/7

6 semesters

24-26 months long

Average age: 33

Average work experience: 8 years

GMAT or GRE accepted

Substitution available

Executive MBA

In-person learning

Bi-weekly Friday & Saturday

5 semesters

21 months long

Average age: 40

Average work experience: 13-16 years

Waiver available

THE VALUE OF AN MBA

Understanding the potential value of an MBA is key to understanding your ROI and your financing goals. An MBA can provide you immense returns during and after your program. When you consider the value of the coursework, networking opportunities, and career advancement, it’s easy to see why an MBA is considered an investment in your future. There has never been a better time to invest in yourself.

Real-time & innovative education: Apply what you learn in class to advance in current and future careers.

The power of network: Network with Utah’s industry leaders and learn from their experiences.

Return on investment: Our students see a 25 – 30% average salary increase by graduation.

WHY PURSUE AN MBA NOW?

Today’s economy breeds more specialized workers than ever before; In a sea of specialists, how do you set yourself apart? The answer lies in business acumen and strong leadership skills. An MBA allows you to differentiate yourself among a group of highly skilled subject matter experts. Here are our top reasons for pursuing an MBA now:

• Prepare for future disruptions by improving knowledge

• Learn curriculum that aligns with real-world events

• Gain strategic innovation and creativity

• Recognize & take advantage of green shoots in economic recovery

TUITION & FEES & YOUR RETURN ON EDUCATION

Utah’s MBA programs have a fixed tuition rate for both residents and non-residents. This fixed tuition rate includes all tuition and fees, the Career Advancement Center, student and alumni networking events, access to our state-of-the-art business building on the University of Utah campus with a student lounge and breakout study rooms, printing, and library databases.

• Total tuition: $64,800 - $67,200

• Average cost of top-50 part-time MBA: $81,500

• Estimated materials cost: $300 - $500/semester

Example scenario

Program tuition:

Incoming salary:

Salary increase during program (%):

Salary increase during program ($):

Outgoing salary:

Payback period:

Tuition Includes:

• University fees

• Career advancement services

• Networking events

• Guest Lecture Series

• Computer software

• Library databases

• UTA commuter pass

$64,800 total 35% $94,500

$70,000 $24,500 2.64 years* ($64,800 cost/$21,000 salary increase)

*Figures are representative of past averages and will vary depending on individual salary, industry, career path, financing choices, and goals

Professional & Online MBA

• Total tuition: $68,000

• Estimated materials cost: $250/semester

Example scenario

Program tuition:

Incoming salary:

Salary increase during program (%):

Salary increase during program ($):

Outgoing salary:

Payback period:

• Heavily-scholarshiped program

• High-touch career management support

• Total tuition: $93,000 - $96,000

• All materials included

• Average cost of top-20 executive MBA: $135,000

Example scenario

Program tuition:

Incoming salary:

Salary increase at graduation (%):

Salary increase at graduation ($):

Payback period:

$68,000 total $93,000 total

$57,000 $115,000

65% 28%

$94,000

1.84 years* ($65,000 cost/$37,000 salary increase)

$37,000 $32,200

Tuition Includes:

• Benefits above +

• Three off-site intensive weeks

• Books & course materials

• Catered meals & snacks

• A+ high-touch support

2.89 years* ($93,000 cost/$32,200 salary increase)

Looking for a more concrete ROI calculation? Check out our free ROI calculator:

MBA ROI Calculator

Full-Time MBA

Executive MBA

*Figures are

representative of past averages and will vary depending on individual salary, industry, career path, financing choices, and goals

*Figures are representative of past averages and will vary depending on individual salary, industry, career path, financing choices, and goals

WAYS TO FINANCE YOUR MBA

Common Ways to Finance Your MBA

Employer Tuition Support

The best way to get employer tuition support is to meet with your HR representative or boss to find out if your company has a tuition benefit plan or tuition deferral option. Before meeting, prepare to share the following benefits of an MBA with your employer:

• Tackle company problems in the MBA classroom

• Gain a better employee & better leader

• Reap the benefits of business knowledge transfer

• Access an invaluable network

• Succeed at succession planning

Many of our students are able to get employer support for their MBA. Nearly 35% of our students receive less than half of tuition in support, and nearly 25% of our students get greater than half of tuition in employer suppor t.

Need more resources for gaining employer support? Download our Gaining Employer Support and The Value of an MBA guides.

Download Now

LOANS: STAFFORD, GRADUATE PLUS, PRIVATE

Federal Financial Aid

There are many student loan programs available to help finance graduate education. Contact the University of Utah Financial Aid department at 801-581-6211 or via email at FinancialAid@SA.Utah.edu to see what loan would be the best fit for you. Please complete your FASFA each school year at FAFSA.gov.

Scholarships

Admissions scholarships are available to newly admitted students who apply before the scholarship deadline of their respective program.

Merit-based scholarships

• Cover an average of 5 - 10% of tuition costs

• Considerations: Strong GPA, work experience, & GMAT/GRE score (Online MBA applicants)

• How to apply: Provide additional essay in the application or send to program inbox

Scholarship types

• Double Ute Scholarship

• Diversity & Inclusion

• Advancing Women in Business

• Community Impact

• Out-of-State-Admit (EMBA only)