ROI

When getting older, it is more important for us to think about the ROI when making a huge decision, while the decision might totally change your life and your career path.

Last week I joined two seminars which focused on study abroad, a lot of alums who have an MBA/Master degree shared a lot of valuable experiences and advice for prospective students in selecting school and program. Before deciding the program and area I want to apply for, it is important for me to ask myself the below questions:

• In which geographic area and what position do you like to be in the near 5 or 10 years?
• How much deposit do you have? Will there anyone can provide financial support to the degree?
• What kind of life do you like to live in the future?
• What value do you think the degree can bring you?
• Isn't there any other way to achieve your career goal? 

Speaking of the ROI

Gain from the investment: Requirement of pursuing a better position/ job, salary increase, broader world view , get a job in foreign country(Due to the weak economic situation, I would put a question mark on this...), professional knowledge and self-improvement, cross-culture experience, personal connections/network, language skill etc.

Cost of investment: Time and money in pursuing the degree, loan need to be pay off in 2~5 years or more(depends on your financial situation and the program you pursue), opportunity cost(the salary you could earn in your position), for girls there might be the cost to get another half when getting older :p etc.

Reality:

*In terms of the financial issue, for international students, pursuing a Top 10 MBA program in US might cost approximately NT$6,000,000(including tuition and living expense in the US for 2 years), even for students who study in schools out of Top 20, they might have to spend at least NT$30,00,000 for the degree, and this dose not include the opportunity cost yet.

**In terms of career path and ability to pay off the investment, one reason people like to have a MBA degree in Top school is to get the ticket to be an investment banker and consultant, while these two jobs can pay off their investment on MBA the soonest. However, the MBA alums who are currently working at Mckinsey and BCG also indicated that for people in their positions, it is almost impossible to strike a balance between life and work while their working hour is around 60~100 hours per week in average.

***MBA might be a plus when looking for a job, however, the previous working experiences still weigh a lot for HR to evaluate a candidate.

****Due to the current weak economic situation, you should not expect a high salary increase for people who have an MBA or Master.

Previously I would hesitate to study for an MBA or Master degree, whether in the US or Europe. Now the answer is more clear...