RETURN ON INVESTMENT
Earning an MBA is one of the most rewarding investments you are likely to make. There are many quantifiable and qualitative factors you should consider when making this investment and once you have a sense of these, you’ll be better able to perform a realistic return-on-investment calculation regarding pursuing your MBA.
Cost of Degree
When computing the return on investment for an MBA degree, one of the first figures you’ll have to consider is the investment itself. Exactly how much is your MBA going to cost? You can check the tuition rates on your school’s website and cost of living figures are widely available for various cities online, but do these figures accurately reflect the cost of a graduate-level business education? This article will help you to estimate the hidden costs of your MBA, like those networking events where you might meet a future employer.
Also factoring in to the cost of an MBA is whatever salary or career progress you’d be putting on hold to go away to business school for two years. MBA degrees often offer a substantial increase in salary, but it’s important to keep in mind what you would be making at your current job if you stayed. For some MBA applicants, an online MBA option may allow you to pursue your MBA and forgo a certain number of these opportunity costs.
Everyone knows earning an MBA will boost your earning power. But what factors determine how much money you will make after receiving a degree? Does an MBA from Stanford guarantee you a six-figure salary, and does that figure include an annual bonus? Why do MBA graduates in New York make more money than MBA graduates in Florida? HowToMBA’s article on MBA Salary will help you to project your post-MBA earnings.
In addition to the quantifiable costs and benefits of earning an MBA degree, a few intangibles add considerable value to the graduate business school experience. Networking opportunities with b-school alumni and fellow students is one of the biggest draws of an MBA degree. But what, exactly, are the benefits of networking? How much difference does an alumni network make after the graduate study experience has ended? HowToMBA’s Networking article provides some answers.
Skills and Knowledge
What about the benefits of education? The theories and practical applications you learn in business school, like financial analysis and international management strategy? The first-year curriculum at most business schools will give you a solid foundation in fundamental business skills, while the second-year will usually be focused on developing in-depth skills and knowledge in your major. Throughout your business education, you should also exercise and develop critical thinking skills, strategies for working with others and more. HowToMBA’s article on Skills & Knowledge will help you to understand the value of this priceless aspect of obtaining your MBA degree.
A large part of what MBA students pay for at schools like Wharton and Stanford is a credential, a piece of paper with the letters MBA on it. What are the benefits of associating your name with a globally known brand of business education? Do top-tier business schools offer a higher quality of education that justifies the mystique of their reputations? And how will your experience as a student differ at the most reputable MBA programs? HowToMBA’s Credibility article will point you toward the answers.