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Is It Worth It To Get a Masters or MBA?

By on Mar 7, 2016 in Education | 0 comments

With the high rising costs of tuition and the parallel high cost of living, many people ask the question if it’s worth it to get a masters degree or MBA. To keep up with the cost of living, people may go back to school in hopes of a higher salary upon graduating. Tuition costs are not going down, so this is a big gamble to take. Of course it is going to depend on your location and industry that you work in, but the truth is that nobody has a crystal ball and can give you a definite yes or no on going to graduate school. You must weigh out the pros/cons and do a cost/benefit analysis. 1. What do other’s make in your field and do they have a Masters or MBA? The first question to ask yourself is where are you now and what do you want to do? Find out how much your boss, director, or high level employees in your company make by using sites like GlassDoor.com and Salary.com. Find out their bio on LinkedIn.com and see what kind of education they have listed in their profile. If you’re seeing a high percentage of them with post graduate degrees and that is that job you eventually want, chances are that you’ll also need a graduate degree. What kind of bachelor degree do you have and does it compare to the person in the position you want to be in? The degrees that pay the most are in the STEM family. STEM stands for Science, Technology, Engineering, Mathematics. 2. Cost/Benefit Analysis Don’t just merely look at the cost of tuition. You also have to weigh out what you could be doing with that money if you were not going to grad school. If it costs $30k to go to grad school, how many years would it take for you to pay it off? How much interest would you also have to pay for the life of that student loan? If you had $30k to spend on something else, would it net you a greater return than this diploma? The time you will be spending studying for entrance exams, classes, tests, and writing papers — are you prepared to sacrifice that time? Will you be able to handle the added stress of working full-time while attending classes 3 times a week plus homework, studying, writing, and meeting with classmates for group projects. Some people work for companies who will pay for a fraction of all of the tuition costs. Usually it comes with a stipulation where you have to keep working at that company for a year after you graduate or will have to pay back the money. Also you likely will have to graduate with a high GPA or your company may not help pay for it. 3. Are you good enough? Are your grades good enough in your bachelor academic career to propel you into a good grad school? Did you get high scores on your GRE or GMAT? If you cannot get into a good grad school, is it even worth going? Some say that you should not waste your money on low tier graduate schools because it is not worth the cost and time spent. This is up to your own judgement though. What will happen after your graduate? Will your current employer promote you? The answer is most likely not. You will need to find a new job that will value your education more. How much experience do you have? Will your experience take you farther or will you need a graduate degree to help...

A Life Lesson in a Short Story

By on Apr 21, 2013 in Inspiration | 0 comments

  “A boat docked in a tiny Mexican village. An American tourist complimented the Mexican fisherman on the quality of his fish and asked how long it took him to catch them. “Not very long,” answered the Mexican. “Well, then, why didn’t you stay out longer and catch more?” asked the American. The Mexican explained that his small catch was sufficient to meet his needs and those of his family. The American asked, “But what do you do with the rest of your time?” “I sleep late, fish a little, play with my children, and take a siesta with my wife. In the evenings, I go into the village to see my friends, have a few drinks, play the guitar, and sing a few songs…I have a full life.” The American interrupted, “I have an MBA from Harvard and I can help you! You should start by fishing longer every day. You can then sell the extra fish you catch. With the extra revenue, you can buy a bigger boat. With the extra money the larger boat will bring, you can buy a second one and a third one and so on until you have an entire fleet of trawlers. Instead of selling your fish to a middle man, you can negotiate directly with the processing plants and maybe even open your own plant. You can then leave this little village and move to Mexico City, Los Angeles, or even New York City! From there you can direct your huge enterprise.” “How long would that take?” asked the Mexican. “Twenty, perhaps twenty-five years,” replied the American. “And after that?” “Afterwards? That’s when it gets really interesting,” answered the American, laughing. “When your business gets really big, you can start selling stocks and make millions!” “Millions? Really? And after that?” “After that you’ll be able to retire, live in a tiny village near the coast, sleep late, play with your children, catch a few fish, take siestas with your wife, and spend your evenings drinking and enjoying your friends.” ————————————————- This is a famous story re-told in many different ways but with the same point. The Mexican villager is already living the life he wants, in a good location with his family. He gets to leisurely wake up whenever he wants and has plenty of time to spend with his children and wife. He has good friends and spends many evenings enjoying their company, drinking, and having a good time. The American in this story looks for ways that the Mexican can exploit his job to his fullest potential by scaling it up — catching more fish and selling the extra, building an empire,  hiring people to run his business. But in the end of the story, the Mexican ends up exactly where he was before he started this business. This story begs the question, what is really important to you in life? Even with all the money in the world, the only real things that matter are your family, friends, and how you spend your time. It gives a great perspective on life and makes you ask yourself, is this culture of money-hungry, greed-driven, paper-chasing, materialistic mentality, etc. – is this what life is about? No, of course not. What do you think about this...