Submitted by: Submitted by sophia526
Views: 1555
Words: 422
Pages: 2
Category: Business and Industry
Date Submitted: 11/18/2011 08:34 PM
The MBA Decision
2011-11-18
Ben Bates graduated six years ago from college with a finance undergraduate defree and he is currently working at the money management firm of Dewey and Louis. His goal is to become an investment banker, so he is considering getting an MBA degee to achieve his goal. In order to make the decision, Ben has some factors to think about, such as his age, his family, and the financial benefits or losses from his decision.
Ben is now 28 years old, which is not extremely young, but he is not old either. If he decides to get an MBA degree instead of working, his salaries will be a major factor of his decision. He will need to sacrify his currently annual salary of $60,000 and pay for his tuition fees. He will work one year or two years less depends on which school he is going, however his salary will increase after he graduates with an MBA degree. In order to make the decision, Ben needs to comapre all the costs, including opportunity costs and extra costs like room expenses, and future salaries affected by his decision. Not only age will affect Ben’s decision, but also his family, his sense of belonging to his current workplace, his economic situation, etc.
Ben is satisfied with his current job, but he has a greater goal to become an investment banker. Therefore his goal will need to be taken into acount. If Ben is married and has children, he will need to think about his family more instead of himself. It is mentioned that Ben has enough savings to cover the entire cost of his MBA program, but the living expenses for his children will be a large amount. If that is the case, getting an MBA degree and not to work for a year or two might not be such a good idea. Another factor Ben needs to consider is his sense of belonging to his current workplace and the global economic condition in the future. If Ben feels comfortable working at Dewey and Louis, and it is very close to his dream job, it might be better to stay instead of taking the...