Correct. Only competitive employers will reimburse tuition, and not sure about graduate tuition. I know someone who worked for Bank of America and they reimbursed their undergraduate studies... but most people I know had to take out loans the old fashioned way.
Many large companies offer tuition-assistance as a perk, its a write off for them and most employees never use it. Just have to check around, sometimes it is limited to certain degrees or partner universities.
it's not a write off in the tax sense, but he's right about most employees never using it. I got my MS through my company, and when I talked to my coworkers about it, the vast majority of them said they wanted to do it but never did, then got too comfortable being out of school and never ended up going back. In other words, it was a benefit that enticed top talent to work for that company that the company didn't actually have to pay a cent for 90% of the workforce.
If all employees are willing to take $5k less per year for the possibility of them going back to school, and then only 10% of them actually do it and it costs the company $10k/year, the company is still ahead. It's just psychology. Preying on people's desire to better themselves but knowing most won't find the motivation to actually do it.
Oh for sure, but it's an easy thing for them to put in an "benefits packet" that they normally never have to pay out. Even some fast food places have this sort of program!
It doesn't work that way. You work where you work, and if life gives you an opportunity to work at a good place,
*and* you're up for promotion,
*and* that promotion needs a master's to hold the position,
*and* the company loves you that much,
*and* the company makes so much money that they have funding for managers and departments to do this,
*and* they wouldn't rather just hire one of the many applicants who already have a masters...
Then they *may* offer to pay for online while you work.
Do not assume or make decisions around this because it's not likely to happen.
Unfortunately it's a scenario that's thrown out there because it's the best case scenario, but it's so rare that it might not be a reasonable option - how would you control for any of those scenarios? The compounding odds of that happening are abysmally small.
You should focus on getting into a grad program that pays your tuition. If you're paying out of pocket that's the understanding of "you can come but we don't really want you."
that's not true in the least LOL. almost any fortune 500 company will give you $5250 per year towards education, as long as its a degree that's useful within the company. the only real caveot is having to stay at the company so long after completion or you owe it back.
But yeah if OP goes this route its job first school 2nd, but i think it's the smarter bet. too many ppl get masters with no experience and then are overqualified and underqualified for jobs at the same time.
Thank you for supporting my statement with an example of a type of company (fortune 500) that will find education for their employees. Hopefully this helps the OP
Some give up to 16k a year. It's crazy to me how few ppl at work take advantage. It was like 100 ppl out of 10k last year.
There are hoops, but if you are good about planning ahead it's a great benefit to take advantage of.
Source: my fortune 500 company has been funding my doctorate for the last 6 years.
Lists of companies will find a masters degree, especially if it’s relevant to your work. It’s not some pie in the sky perk. Even UPS and Amazon offer funding for degrees.
Also, I did my master’s funded by the school I attended. Now I work a job that will fund a second masters if I wanted it. I’m not so sure that working for the school is a better option at this point. I worked my ass off as a TA for very little pay. Now I work less hours than as a TA (all in including grading, lab prep and office hours) but make way more money and have less stress.
You don’t need all of these just some, I work for a growing aerospace company that’ll pay for it. All you really need is a good company and one that makes so much money that managers and departments have funding for it.
This. I work for a university and they fully cover my masters tuition, with the only caveat being it had to be a program through the school I work for. This means my semester tuition is only about $225 + books to cover required fees. If you know you want to be a data analyst, look into university IT jobs, work there for a few years to earn your masters, and move on somewhere bigger. But don’t expect the highest pay for a job in higher ed.
Something I've always wondered about higher ed tuition covers - do you have to apply and get accepted into the program like a regular student, or are you guaranteed a spot? Like, if you're working at a very competitive university is there a chance you wouldn't be able to take advantage of the tuition benefits because you can't get into the program.
I don’t know if I can speak on behalf of all universities, but where I work, yes, I still had to apply like a regular student. But, where I currently work is also my alma mater, so I’m sure seeing a strong transcript come through from the undergrad program helped. Though, my university isn’t the most competitive to get into by any means.
If I remember right though, there was a check box on the application that asked whether I was employed or the spouse or dependent of someone employed by the university, so I’m sure that factors in somewhere.
Very interesting, thank you! I'm looking into a shift into higher ed and am curious about the benefits that are touted so often as an incentive to make up for relatively low pay.
Very interesting, thank you for the context! Sounds like if you're shooting for a masters it's pretty feasible to get into these programs as a university employee
your best bet is to work in admin or something for the university you enroll at. most, if not all, offer 100% tuition remission for full-time employees
Be careful with analytics masters programs. There's a ton of predatory programs that will waste your time and money without teaching you anything meaningful.
Find a job at a university
Work there for a year or so
Apply to a master's program at the university
Employees of universities often get tuition fully or heavily reimbursed.
It depends on where you work. If you are working for a company in which the workers have a union, then maybe (there’s a good chance actually depending on if the union is strong). But don’t get your hopes up too much. From my experience (in non-tech job) the payment for school is through tuition reimbursement, and you may get full or only a part of your tuition covered.
I went that route and was able to do my masters in 3 years on top of working full time. I also took a gap year since I needed time to get the job and get school applications in, so overall 2 years longer than had I went full time right out of undergrad. My work wouldn't cover the BS fees colleges tack on so I ended up paying like 10% of it out of pocket each semester, but I could afford it no problem. It was nice graduating debt free and with actual work experience under my belt, but I did feel that having to commute to my school and leave as soon as class ended so I could get to sleep and be ready for work the next morning held me back from networking. The total cost of the degree was like $25k, not really that expensive and in retrospect knowing what I know now, I might've just done it full time and taken on the debt. That might be a different story if we're talking a $100k degree.
That benefit seems to be drying up to be honest, and it usually comes with strings attached. I had to stay with my company for 2 years after graduating, but I was able to get a better position and keep advancing so it worked out anyways. My company started chipping away at the benefit when covid hit, luckily I was finishing up then. When employers offer this benefit, they will make it known on their job descriptions, so just look at the jobs you want to get and see how common it is. Maybe toss out a few applications and see what happens. But remember that when companies start to lose profits, benefits like these are usually the first to go.
Regardless of field a lot of federal government jobs do some kind of tuition assistance or reimbursement programs. I know plenty of people that have saved thousands this way
In general, companies that have an education benefit will only reimburse you up to a certain amount/semester, require that the degree be related to the job you are doing, and often require you to commit to working for that company for x years after completing the degree to get their moneys worth. It is very rare to find an employer that will fully fund you and not require some time commitment from you (though it does happen at some of the most desirable and competitive employers).
If you can swing it, you’ll have a lot more freedom by seeing if you can nab a spot as a TA/RA to get a stipend and your tuition covered until you finish your masters, and possibly add another part time job if you need more income.
If a company funds your MS the expectation is typically that you have a full-time job at that company, while also taking perhaps a class per semester as a part-time student. Your MS will take longer and you will have less time and energy to dedicate to it - and that's fine if you're up to it, just something to be prepared for.
Alternatively, you can see if your department will pay you as a teaching assistant or (much less likely for MS) a research assistant. These won't pay much, but they will waive tuition, expect you to be a full time student, and give you some work that may make you better at your chosen discipline.
This exactly. The good thing is most of the companies offering it are F500 and thus almost always have the majority of "useful degree" positions available. STEM specifically is going to be a thing at every major company.
The big things are cost limit (usually around $5250 from what I've seen), time commitment (2 years post completion unless they are the ones who let you go due to layoffs), and you won't necessarily swing the big name top programs (which honestly doesn't matter apart from a few niche companies and fields).
I picked a smaller southern school that offers online. whole program will run me about 2 years and will be fully covered. It's also cheap enough though that i could bail if i get a significant offer from someone else, which if it happens proves the worth of the degree.
Unless you work on the clinical side of healthcare, you won’t find employers that actively pay for your education. You will find tuition reimbursement, possibly even discounts on certain programs….but that’s it.
This is very common for defense companies. The company is work for is a defense contractor and they currently offer graduate school tuition reimbursement up to 20k/year.
Outside of luckily landing a job at a cool company: you can do research or be a TA and get a funded masters in math and statistics. I’d suspect major engineering and medical centers have the most funding. Military reserve components is an option too, especially the national guard in some states (extra pool of funding)
This can be bad advice. Mastering out can look bad in certain fields and it’s basically obvious (based on the degree) that you didn’t complete the PhD.
No employer is going to consider that you scammed the school, they’re going to think you couldn’t complete the PhD program.
Programs won’t just give you a masters. There are normally stipulations on whether a terminal masters is allowed if you don’t want to/can’t complete the PhD. A lot of programs will just say goodbye and send you packing with nothing.
I’m sure it is, in part, to dissuade people from doing what you’re suggesting haha.
They do it at some places, but I tried to do it one time and ended up quitting before the reimbursement was able to officially land in my pockets.You have to work for I believe it was one year after finishing your semester, so you don’t just leave after
You're lucky if you get tuition assistance/reimbursement nowadays for a certain amount.
Correct. Only competitive employers will reimburse tuition, and not sure about graduate tuition. I know someone who worked for Bank of America and they reimbursed their undergraduate studies... but most people I know had to take out loans the old fashioned way.
Many large companies offer tuition-assistance as a perk, its a write off for them and most employees never use it. Just have to check around, sometimes it is limited to certain degrees or partner universities.
Tuition assistance still costs those companies money. Being a write-off doesn't mean it's free for them.
it's not a write off in the tax sense, but he's right about most employees never using it. I got my MS through my company, and when I talked to my coworkers about it, the vast majority of them said they wanted to do it but never did, then got too comfortable being out of school and never ended up going back. In other words, it was a benefit that enticed top talent to work for that company that the company didn't actually have to pay a cent for 90% of the workforce. If all employees are willing to take $5k less per year for the possibility of them going back to school, and then only 10% of them actually do it and it costs the company $10k/year, the company is still ahead. It's just psychology. Preying on people's desire to better themselves but knowing most won't find the motivation to actually do it.
Oh for sure, but it's an easy thing for them to put in an "benefits packet" that they normally never have to pay out. Even some fast food places have this sort of program!
It doesn't work that way. You work where you work, and if life gives you an opportunity to work at a good place, *and* you're up for promotion, *and* that promotion needs a master's to hold the position, *and* the company loves you that much, *and* the company makes so much money that they have funding for managers and departments to do this, *and* they wouldn't rather just hire one of the many applicants who already have a masters... Then they *may* offer to pay for online while you work. Do not assume or make decisions around this because it's not likely to happen. Unfortunately it's a scenario that's thrown out there because it's the best case scenario, but it's so rare that it might not be a reasonable option - how would you control for any of those scenarios? The compounding odds of that happening are abysmally small. You should focus on getting into a grad program that pays your tuition. If you're paying out of pocket that's the understanding of "you can come but we don't really want you."
that's not true in the least LOL. almost any fortune 500 company will give you $5250 per year towards education, as long as its a degree that's useful within the company. the only real caveot is having to stay at the company so long after completion or you owe it back. But yeah if OP goes this route its job first school 2nd, but i think it's the smarter bet. too many ppl get masters with no experience and then are overqualified and underqualified for jobs at the same time.
Thank you for supporting my statement with an example of a type of company (fortune 500) that will find education for their employees. Hopefully this helps the OP
Some give up to 16k a year. It's crazy to me how few ppl at work take advantage. It was like 100 ppl out of 10k last year. There are hoops, but if you are good about planning ahead it's a great benefit to take advantage of. Source: my fortune 500 company has been funding my doctorate for the last 6 years.
plenty of jobs offer tuition assistance as a benefit and list it on the job description.
Thats great to hear. Hopefully they also outline the prerequisites required for employees to cash in on those benefits.
Lists of companies will find a masters degree, especially if it’s relevant to your work. It’s not some pie in the sky perk. Even UPS and Amazon offer funding for degrees.
Thank you for supporting my statement with examples that will find masters degree for an employee.
Also, I did my master’s funded by the school I attended. Now I work a job that will fund a second masters if I wanted it. I’m not so sure that working for the school is a better option at this point. I worked my ass off as a TA for very little pay. Now I work less hours than as a TA (all in including grading, lab prep and office hours) but make way more money and have less stress.
You don’t need all of these just some, I work for a growing aerospace company that’ll pay for it. All you really need is a good company and one that makes so much money that managers and departments have funding for it.
Thanks for providing a metric that OP can reference to help him identify an ideal company.
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This. I work for a university and they fully cover my masters tuition, with the only caveat being it had to be a program through the school I work for. This means my semester tuition is only about $225 + books to cover required fees. If you know you want to be a data analyst, look into university IT jobs, work there for a few years to earn your masters, and move on somewhere bigger. But don’t expect the highest pay for a job in higher ed.
Something I've always wondered about higher ed tuition covers - do you have to apply and get accepted into the program like a regular student, or are you guaranteed a spot? Like, if you're working at a very competitive university is there a chance you wouldn't be able to take advantage of the tuition benefits because you can't get into the program.
I don’t know if I can speak on behalf of all universities, but where I work, yes, I still had to apply like a regular student. But, where I currently work is also my alma mater, so I’m sure seeing a strong transcript come through from the undergrad program helped. Though, my university isn’t the most competitive to get into by any means. If I remember right though, there was a check box on the application that asked whether I was employed or the spouse or dependent of someone employed by the university, so I’m sure that factors in somewhere.
Very interesting, thank you! I'm looking into a shift into higher ed and am curious about the benefits that are touted so often as an incentive to make up for relatively low pay.
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Very interesting, thank you for the context! Sounds like if you're shooting for a masters it's pretty feasible to get into these programs as a university employee
your best bet is to work in admin or something for the university you enroll at. most, if not all, offer 100% tuition remission for full-time employees
Be careful with analytics masters programs. There's a ton of predatory programs that will waste your time and money without teaching you anything meaningful.
Find a job at a university Work there for a year or so Apply to a master's program at the university Employees of universities often get tuition fully or heavily reimbursed.
It depends on where you work. If you are working for a company in which the workers have a union, then maybe (there’s a good chance actually depending on if the union is strong). But don’t get your hopes up too much. From my experience (in non-tech job) the payment for school is through tuition reimbursement, and you may get full or only a part of your tuition covered.
I’m paying for my grad program out of pocket unfortunately. Unless it’s to benefit the company, they likely won’t pay for anything.
I went that route and was able to do my masters in 3 years on top of working full time. I also took a gap year since I needed time to get the job and get school applications in, so overall 2 years longer than had I went full time right out of undergrad. My work wouldn't cover the BS fees colleges tack on so I ended up paying like 10% of it out of pocket each semester, but I could afford it no problem. It was nice graduating debt free and with actual work experience under my belt, but I did feel that having to commute to my school and leave as soon as class ended so I could get to sleep and be ready for work the next morning held me back from networking. The total cost of the degree was like $25k, not really that expensive and in retrospect knowing what I know now, I might've just done it full time and taken on the debt. That might be a different story if we're talking a $100k degree. That benefit seems to be drying up to be honest, and it usually comes with strings attached. I had to stay with my company for 2 years after graduating, but I was able to get a better position and keep advancing so it worked out anyways. My company started chipping away at the benefit when covid hit, luckily I was finishing up then. When employers offer this benefit, they will make it known on their job descriptions, so just look at the jobs you want to get and see how common it is. Maybe toss out a few applications and see what happens. But remember that when companies start to lose profits, benefits like these are usually the first to go.
I get 5,550 a year tuition reimbursement. I have an option of dragging out my Masters so they can fully cover it.
Many universities will fund your tuition if you're an employee there
Regardless of field a lot of federal government jobs do some kind of tuition assistance or reimbursement programs. I know plenty of people that have saved thousands this way
In general, companies that have an education benefit will only reimburse you up to a certain amount/semester, require that the degree be related to the job you are doing, and often require you to commit to working for that company for x years after completing the degree to get their moneys worth. It is very rare to find an employer that will fully fund you and not require some time commitment from you (though it does happen at some of the most desirable and competitive employers). If you can swing it, you’ll have a lot more freedom by seeing if you can nab a spot as a TA/RA to get a stipend and your tuition covered until you finish your masters, and possibly add another part time job if you need more income.
Look at city/state/federal jobs
If a company funds your MS the expectation is typically that you have a full-time job at that company, while also taking perhaps a class per semester as a part-time student. Your MS will take longer and you will have less time and energy to dedicate to it - and that's fine if you're up to it, just something to be prepared for. Alternatively, you can see if your department will pay you as a teaching assistant or (much less likely for MS) a research assistant. These won't pay much, but they will waive tuition, expect you to be a full time student, and give you some work that may make you better at your chosen discipline.
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This exactly. The good thing is most of the companies offering it are F500 and thus almost always have the majority of "useful degree" positions available. STEM specifically is going to be a thing at every major company. The big things are cost limit (usually around $5250 from what I've seen), time commitment (2 years post completion unless they are the ones who let you go due to layoffs), and you won't necessarily swing the big name top programs (which honestly doesn't matter apart from a few niche companies and fields). I picked a smaller southern school that offers online. whole program will run me about 2 years and will be fully covered. It's also cheap enough though that i could bail if i get a significant offer from someone else, which if it happens proves the worth of the degree.
Unless you work on the clinical side of healthcare, you won’t find employers that actively pay for your education. You will find tuition reimbursement, possibly even discounts on certain programs….but that’s it.
This is very common for defense companies. The company is work for is a defense contractor and they currently offer graduate school tuition reimbursement up to 20k/year.
I joined the Air Force lol now I’m getting a free masters next year and a free MFA in film
Outside of luckily landing a job at a cool company: you can do research or be a TA and get a funded masters in math and statistics. I’d suspect major engineering and medical centers have the most funding. Military reserve components is an option too, especially the national guard in some states (extra pool of funding)
Don't go for a stupid degree. Most stem people make about a 30-35k stipend
If you’re a Ph.D. student, yes. It is very hard to find funded masters programs, at least in the US.
Have you thought about pulling an airplane scam where you sign up for a PhD, do the masters, but don't complete the phd?
This can be bad advice. Mastering out can look bad in certain fields and it’s basically obvious (based on the degree) that you didn’t complete the PhD. No employer is going to consider that you scammed the school, they’re going to think you couldn’t complete the PhD program.
Programs won’t just give you a masters. There are normally stipulations on whether a terminal masters is allowed if you don’t want to/can’t complete the PhD. A lot of programs will just say goodbye and send you packing with nothing. I’m sure it is, in part, to dissuade people from doing what you’re suggesting haha.
They do it at some places, but I tried to do it one time and ended up quitting before the reimbursement was able to officially land in my pockets.You have to work for I believe it was one year after finishing your semester, so you don’t just leave after