Paying MBA with help of company

Expendables

Hi all

I've been accepted into a horrendously expensive executive/part-time MBA in Europe, and am looking at ways to reduce the cost. Considering going for a scholarship, but am also toying out the following:

My company won’t pay for the MBA, but am proposing to them that we have an agreement with them to reduce my wages over the year to a nominal amount, and the reminder that they have saved will be paid by them to pay for (most of ) the course fees. this saves me the tax on the equivalent amount, and saves them employer PRSI contributions.

Anybody see a problem with this (legal/tax-wise), and has anybody done anything like this before?

Apprepicate any advice/pointers

Static M.e.

INSEAD or GALLEN ?

Always go for the Scholarship if you can..

Havent heard of anyone doing anything like your proposing, most people I know just took loans through the college.

If your company, does decide to make any sort of agreeement with you, the only I would watch out for is the amount of time you have to stay with them before you can leave on your own. The MBA will open up a lot of new job opportunities.

Rusty Cogs 08

I vaguely remember UCD's website mentioning that companys could get a tax break on what they contributed towards your MBA costs. I'm not sure if it was as 'developed' as your scheme (i.e. a lower salary) but I can't see why it shouldn't be viable. The hardest part will be getting your Finance/HR dept. to put in the leg work to arrange it for you.

I take it it's a correspondance course if you're staying with the company ?

Expendables

Thanks for the feedback, i think i'm the wrong demographic to get a scholarship (western male)

Its an online program, with face to face classes as well, i don;t want to quit my job, and to be honest i'm paying for the label and (hopefully) the network.

Have proposed it, lets see how i get on anyway

Static M.e.

Best of luck