" R.O.I Of The MBA Eduction "

Next, look at the costs. Although about 70% of MBAs receive financial aid, it is still a financial commitment.  It’s also a time commitment: A recent U.S. Department of Education study showed that 75% of MBA students overall and 61% of full-time MBA students work more than 35 hours a week.

Calculating Costs

The “Cost of Attendance” includes tuition and fees, books and materials, and living expenses. You’ll also have to consider the type and amount of financial aid (including loans, scholarships, and fellowships) you can expect.

Also consider:

• Total loan costs amortized over different repayment terms, including any accrued interest on unsubsidized student loans
• Relocation expenses and associated changes in living expenses
• Income lost while in school. If you leave the workforce to get an MBA, you lose income during that time. But full-time programs are typically shorter than part-time programs, allowing you to get back into the workforce faster─ at an MBA salary.

You’ll ring up extra expenses as you search for and apply to schools, as well as hunt for a post-graduation job. Costs add up, so be realistic about the number of schools you apply to. Consider:

• Testing fees, preparation materials, and other miscellaneous costs
• Application fees (ranging from US$40 to US$200), including fees for submittals using Web services or CD-ROM programs
• Phone calls
• Transcriptt request fees
• Corporate networking visits
• Postage or express delivery services
• Travel for recruiting events, interviews, or campus visits

To get to your ROI, weigh the costs against the higher salary and greater opportunities over the course of your career with an MBA. Also consider less tangible benefits—higher skill levels in management and business, better job preparedness, lifelong relationships with your MBA classmates, and personal growth.

Finally, weigh all of these costs and benefits as they relate to your specific goals. You may well conclude that an MBA is a smart investment in your future.

Incidental Costs

A Graduate Business Degree

Today’s graduate business degrees offer countless kinds of opportunities and directions—in any kind of setting, anywhere in the world.

First things first: a graduate business degree is earned by completing a graduate business school program, in which students engage in traditional academic coursework and instruction based on real business challenges. Through this intensive experience that lasts one to two years (or more), the degree program prepares you for a lifetime of management responsibilities in business.

That may sound like an overstatement, but consider the big picture. Today, the world of business is woven into every aspect of our lives—from using technology like Google® or Facebook® to choosing which movie to watch. With every transaction we make with another person at the corner shop or a major corporation, we’re doing business.

So why should you think about getting a graduate business degree? No matter what your career goal is—from advancing or changing your current career to starting your own business or helping those in need—a graduate business degree can help you get there faster.

Why should you think about getting a graduate business degree? Here are four very good reasons:

1. Business education gives you control. Business is how we buy and sell, innovate and grow, learn and share. If you think of yourself as a company of one, you need to build your own business skills to reach your professional and personal goals. Business school can help you get there.
2. Business education unlocks a world of opportunity. A graduate business degree is the key to employment with an amazing range of companies and organizations around the world. Why? Because you’ll be instantly recognized as someone with leadership and management skills. Plus, your network of fellow students, faculty and alumni will help supercharge your career even more.
3. It’s an investment in you. Looking for a career with real growth and job stability? On average, students who pursue a graduate business degree end up earning as much as twice as much as those with undergraduate degrees.
4. Business education helps you give back. The abilities and insights gained during business education can enhance your career and help you contribute more to the world around you. Whether in your free time or through a non-traditional career, your degree can be used to improve life in your city, your country or beyond.

If you’re ready to make a bigger difference with a graduate business degree, take the next step.