Mba and Degrees

In: Business and Management

Submitted By nunabear1
Words 360
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Opportunity Cost of getting an MBA and Economic Factors to consider while taking a degree
The opportunity cost of getting an MBA is what one must forego as a result of the resolution to pursue an MBA. Acquiring an MBA has potential career flexibility and advancement opportunities. This, however, gets accompanied by a huge price tag. Inflation has been outgrown by the higher education costs in America. Acquisition of an MBA has combined tuition costs with accommodation and stationery costs (John & Scott 112). MBAs can incur between 100 and 200 thousand dollars in expenses and debts in a two-year period. An annual tuition fee of 30,000 dollars can be increased with 10,000 dollars in additional boarding and stationery expenses.
Moreover, a lot of programs necessitate the purchase of laptops in addition to costly overseas trips. Such "peripheral" costs can lead to semester expenditure double the tuition. To earn an MBA at an acceptable cost, it is advisable to pursue programs at public universities as they offer a less expensive option compared to the expensive private business school that lead one into educational debt. Some major companies and corporations assume partial or the full costs of an MBA program. It is advisable to pursue such an alternative as an MBA program is a capital-intensive effort that should be undertaken with diligence.

Economics factors when pursuing a degree or taking another route in life
Investing in oneself by pursuing a degree provides one with skills and qualifications for employment in the ever competitive environment (John & Scott 431). Debt considerations should be analyzed and made before making the decision to pursue a degree.
Several economic factors come into account like the opportunity costs and tuition costs when one makes the decision to pursue a degree rather than take another route in life. One is likely to…...

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