benefit-Costs of pursuing an MBA
Even though each of us has his/her own perspective of happiness and sense of life, we all agree that the integral part of these are the financial stability complemented by personal professional success. That is why we all strive very hard to achieve ambitious financial and professional goals and choose our own paths to them. But through historical and empirical evidence it has become clear that on average, the better education one has, the better are one's chances of fulfilling the boldest dreams.
We, Americans, spend millions of dollars on our education, which we consider as investment in our human capital. According to the public opinion research conducted by the Educational Testing Service: "Nearly all (96%) adults believe that a college education is a good investment, including 72% who say it is a very good investment."
I have Bachelor of Sciences degree from Hampton University and my goal is to consider whether pursuing MBA with Phoenix University would be a good investment for me and how much present value it will add comparing with not ever completing this degree. The projected future earnings if having completed this education or not are presented at the graph below.
Picture 1. Projected earnings after receiving MBA vs. foregone Opportunity Costs.
The detailed calculations for this investment opportunity are recapitulated in Table 1.
Table 1. Analysis of possible earnings with MBA and without MBA.
Year
Earnings
Cost of Education
Opportunity Costs
Net Benefits
PV of PV
the first column of Table 1 I depicted time period for this project. I started my calculations with year 1996 when I was Freshman at Hampton University. I will assume that I will work 40 years after my undergraduate studies, and this will be the length of the project.
As I consider purchasing MBA as an investment opportunity, I will evaluate...
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However, it is also an imperfect method, based on a set of assumptions. The effectiveness of this method is dependent on the quality of the assumptions. Because the assumptions regarding future cash flows can be wildly inaccurate, it is best to include some non-quantifiable evaluations as well. For Ben, the most important is the degree to which the MBA will help him meet his short- and long-term career objectives. He
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