Obtaining an MBA in Finance

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Changing business environment demands for higher qualification especially in finance and in business. Every business entity is having separate finance department which handles all the financial transactions and requirements of the company. This clearly discloses about the great opportunity available in the finance industry and motivates for higher studies in finance and in business administration. Finance is my field of interest and I wanted to pursue my career in this sector. In order to achieve my goal I will pursue MBA specializing in Finance, which is most popular among other degrees in this segment. Thus, MBA will be the chosen profession degree. Cost analysis of MBA degree: Cost of MBA degree differs from one institute to other and also with specialization that is the subject chosen by the candidate. Students are also eligible to get scholarship, which reduces the cost of degree. In this analysis one has to consider the foregone income because of regular college and not going for job. Important costs to be considered are the tuition fees, admission fees, and the scholarship benefits along with the opportunity costs which are annual salary and bonus. Below table provides for information about the cost of MBA and the income foregone: Costs of MBA Amount in $ Incomes sacrificed Amount in $ Semester Tuition Fee 20,000 Monthly Salary 4000 Total Tuition Fee 80000 (20000*4) Total Salary 96000(4000*12*2) Admission Fee 30000 Annual Bonus 15000 Total Tuition and Admission Fee 110000 Total Bonus 30000 Less Scholarship 30000 Total Opportunity Cost 126000 Net Cost Paid 80000 Total Cost of an MBA Degree 206000 There are chances were the cost of MBA degree can be lesser than the estimated costs. Additional scholarship, grants will red... ... middle of paper ... ...82b_the-roi-of-an-mba.html Http://www.freeby50.com/ (2010, October 29). Cost Benefit Analysis of M.B.A. Degrees | Free By 50. Retrieved February 2, 2014, from http://www.freeby50.com/2010/10/cost-benefit-analysis-of-mba-degrees.html Http://www.payscale.com/ (2014, February 1). Master of Business Administration - MBA Degree Salaries | PayScale. Retrieved February 2, 2014, from http://www.payscale.com/research/US/Degree=Master_of_Business_Administration_%28MBA%29/Salary MBAGirlJourney (2013, August 26). The Real Cost Of An MBA: $345K So Is It Really Worth It? | Poets and Quants. Retrieved February 2, 2014, from http://poetsandquants.com/2013/08/26/the-real-cost-of-an-mba-345k-so-is-it-really-worth-it/ Yeaple, R. (2012, May 30). Is the MBA Obsolete? - Forbes. Retrieved February 2, 2014, from http://www.forbes.com/sites/ronaldyeaple/2012/05/30/is-the-mba-obsolete/1/
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