Sponsorship funding

A number of students studying at London Business School are sponsored, either partially or fully, by their employers. Company sponsorship of a staff member on a course is an investment in high potential individuals, designed to develop their existing skill sets, and enhance their abilities. You will return to the company with heightened abilities and ambitions.

Securing this kind of commitment from your company is not impossible, but will usually involve drawing up a detailed business case outlining your reasons for wanting to do the course and the benefits that you feel it will bring not only to yourself but to the company.

All students intending to study on a part time basis whilst still working must have their employers full support in terms of the time commitment to attend classes - and this is vital if you are to succeed on the programme.

Salary Sacrifice schemes - some students may wish to look into organising a Salary Sacrifice scheme with their employers. These schemes involve the student entering into a contract with the employer that can save both the student and the employer some costs. The employer would need to pay the tuition or part tuition on your behalf directly to the school or reimburse the student through expenses. You would then need to come to an agreement with the employer that they either pay upfront and you sacrifice your salary over a period of time, or you can set up the agreement in advance to build up a bank of credit to be used towards tuition once you start a course. These types of arrangements would save the student from paying any tax and National Insurance on this sacrificed amount and save the employer from paying National Insurance on this part of your salary. The school would not have any involvement in this type of scheme as it would be arranged between the student and their individual employer. Therefore students would be recommended to contact their employer about this option. More information may also be available from paul.hatchett@kpmg.co.uk, however the employer may incur a charge for the services this company offer. The fees will be less than the saving of National Insurance for the employer.

Scholarship and Vocational Education (SAVE) Scheme - Some students may wish to look into organising a SAVE scheme with their current or prospective employers. SAVE combines the tax exemptions which exist for scholarship payments and the exempt benefit applicable to work-related training provided by employers. Using this scheme, costs related to study, travel, accommodation and subsistence can be paid free of tax and NIC. Employers can finance training costs for their current or prospective employees through a salary or bonus sacrifice. The school would not have any involvement in this type of scheme as it would be arranged between the student and their individual employer. Therefore students would be recommended to contact their employer about this option. More information may also be available from KPMG at paul.hatchett@kpmg.co.uk , however the employer may incur a charge for the services this company offer. The fees will be usually financed from the savings of National Insurance available for the employer.