13 min
Episode 7 - $100,000+!! Let's Talk About The Cost TheBREWCAST
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- Business
Let’s talk about the cost of an MBA. For a lot of the episodes I’ve done, it feels like a bit of the elephant in the room because I think the cost is the number 1 barrier to entry for taking an MBA. Here’s 3 examples:
• Queens Accelerated MBA for Business Grads: $82,000
• Ivey One-Year MBA: $107,950.
• Queens EMBA Americas: $139,865
Check out the opportunity cost calculator on the Ivey website. We have talked about this before. There is opportunity cost in terms of your time sacrifice which I talk about that a lot with my various guests, but this calculator is purely on the trade offs between working while doing your MBA or not. By the way, a Harvard MBA (two-year program) is $237,000 USD, not including any opportunity cost.
While this is interesting, and as much as I like the idea of the opportunity cost calculator, I think it is not the right way to look at the value of an MBA.
In this episode I talk about 3 things that will help you think about the cost, and if it is worth it for you.
• Redefining “Value”
• Get creative with your financing!
• Pay attention to what portion of the program is “tuition” and which is “other fees”.
Deciding if the cost is worth it is not a simple question and therefore not a simple solution. I can’t give you the answer. But if you start to redefine value, get to work on creative ways to finance your program, and do the research on what you are paying for in the program, I think it will get you closer to your answer.
As always, please get in touch with me if you have questions, thoughts or suggestions. There is another great episode coming up for you in a couple days. Talk to you then – and thanks for listening to the BREWCAST!
PS: The picture is my recording studio in Brisbane. This is where all the magic happens 😊
Let’s talk about the cost of an MBA. For a lot of the episodes I’ve done, it feels like a bit of the elephant in the room because I think the cost is the number 1 barrier to entry for taking an MBA. Here’s 3 examples:
• Queens Accelerated MBA for Business Grads: $82,000
• Ivey One-Year MBA: $107,950.
• Queens EMBA Americas: $139,865
Check out the opportunity cost calculator on the Ivey website. We have talked about this before. There is opportunity cost in terms of your time sacrifice which I talk about that a lot with my various guests, but this calculator is purely on the trade offs between working while doing your MBA or not. By the way, a Harvard MBA (two-year program) is $237,000 USD, not including any opportunity cost.
While this is interesting, and as much as I like the idea of the opportunity cost calculator, I think it is not the right way to look at the value of an MBA.
In this episode I talk about 3 things that will help you think about the cost, and if it is worth it for you.
• Redefining “Value”
• Get creative with your financing!
• Pay attention to what portion of the program is “tuition” and which is “other fees”.
Deciding if the cost is worth it is not a simple question and therefore not a simple solution. I can’t give you the answer. But if you start to redefine value, get to work on creative ways to finance your program, and do the research on what you are paying for in the program, I think it will get you closer to your answer.
As always, please get in touch with me if you have questions, thoughts or suggestions. There is another great episode coming up for you in a couple days. Talk to you then – and thanks for listening to the BREWCAST!
PS: The picture is my recording studio in Brisbane. This is where all the magic happens 😊
13 min
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