Current employer pays for 80% of tuition, not including fees and books.
Rebecca Cline
Cost of MBA
12 classes = (2,200+135+140) * 12 = 29,700
Reimbursement from work = 1760*12 = 21,120
Total cost to me = 29700-21120 = 8,580
My current employer pays for 80% of tuition, not including fees and books. This has allowed me the opportunity to continue my education at a rate that provides to be worth the financial investment for me. My MBA will end up costing me roughly $9,000. Although the program is taking roughly 18 months to complete, I am still working full time, so I am not calculating loss of pay into the equation as the time would pass anyway and I am not missing out on income during this time. Once I complete my MBA, the anticipation is receiving an increase of 10%. The 10% increase would amount to $6,000 annually. With my current salary, it would take roughly 18 months to cover the $9,000 expense. This is not factoring in any yearly increases that typically would take place in January for our organization. The knowledge that has been and will continue to be gained in the program is well worth the return on investment. If I retire at 65, I will be for an additional 32 years post MBA. Without any other increases, job changes, etc. I would end up with a Net Present Value of roughly $183,000 ((6000*32)-9000).
Although these numbers are estimates and include assumptions, it is likely that pursing my MBA is worth the financial investment not only financially, but also provides the opportunity for me to grown as an individual.
Answer preview to current employer pays for 80% of tuition, not including fees and books.
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