Changing business environment demands for higher qualification especially in finance and in business. Every business entity is having separate finance department which handles all the financial transactions and requirements of the company. This clearly discloses about the great opportunity available in the finance industry and motivates for higher studies in finance and in business administration. Finance is my field of interest and I wanted to pursue my career in this sector. In order to achieve my goal I will pursue MBA specializing in Finance, which is most popular among other degrees in this segment. Thus, MBA will be the chosen profession degree.
Cost analysis of MBA degree:
Cost of MBA degree differs from one institute to other and
…show more content…
Apart from the tuition and admission cost, student has to consider cost of laptops, books supplies and also the boarding expenses. Generally, these costs tend to increase with time, that is cost in year 2 will be higher than Year 1 cost and can leave behind higher amount of debt than expectation.
Next is to considering the living expenses:
Rent $ 700 per month
Groceries $ 200 per month
Utilities $ 500 per month
Phone $ 100 per month
Sundry $100 per month
Total cost $1,600 per month
Total cost for 2 years $38,400 ($1,600*12*2)
Living costs expenses has to be included along with the overall costs determined in the previous section ($206,000). Thus, total costs will be $244,400 ($206,000+$38,400). Thus, one can obtain the MBA degree at cost of $244,400.
Determination of return:
Determining the return on investment is essential, for this purpose average salary of a MBA should be considered. The average salary of MBA finance is $80,000 per year excluding bonus. The salary is expected to increase by 10% per year and the joining allowance is being provided at the time of joining is $20,000. This will be incurred in the year 2 end. Let us use the discount rate as 5% for discounting the cash flow. The determined expenses are for two years and it is assumed to remain equal in each period. For calculation purposes let us consider the amount of $20,000 will be received at the end of Year 2.
Year Cash outflow Cash inflow Present value
0 $(122,200.00) -
The general costs of starting at the Harvard University is as shown below: (Harvard, 2017)
Tuition, Registration, Admission, Laboratory, Examination and other institution fees and cost of text books and other materials that are part of the course requirement
From the financial aspect, the opportunity cost of taking MBA program will keep increasing as his
There are several reasons as to why I settled on MBA - Finance as my concentration of choice. First and foremost, from quite an early age, I had a great liking for analytical subjects. Indeed, I found mathematics more interesting than science subjects. This is a passion that has continued to propagate in me and for this reason; I would say that my selection of the said concentration comes naturally. Next, my concentration of choice happens to be in line with my long-term career goals. As I have already indicated elsewhere in this text, I intend to become a finance director in a reputable organization. I view an MBA in Finance as a stepping stone towards this particular goal. It is important to note that competition for jobs in the
Having a good sense of how much the desired field of education is going to cost, can help one prepare financially. Majority of all a student’s cost will fall within three categories: tuition fees, books and other course materials, and living expenses. Tuition fees depend on the province or territory where you will study and the school chosen for your desired program. In 2013-2014 the average cost of one year’s tuition at a Canadian university was $5,772.10, although keep in mind college programs may cost less depending on the field of study. Books and other course materials for most undergraduate university programs range from $800 to $1,000 per year, although there is ways of reducing the cost of materials needed: buying used books, getting electronic version, and sharing certain resources with roommates or friends. Living expenses highly depend on how you decide to spend money, this is the most controllable expense of choosing to put yourself through post-secondary school. Living at home with your family, if realistic, can cut expenses by thousands of dollars a year. If planning to live off campus you will have to consider expenses such as bills, gas, parking permits, groceries, entertainment, etc. The main focus is to realize your “needs” over your “wants”. Another thing to consider and plan for is inflation rate or the likely hood of costs rising. (Canada,
“The decision to study finance opens doors to perhaps some of the widest ranges of jobs available, as every type of organization needs financial assistance and oversight, no matter what they do. There is no question that the recent financial crisis has changed the landscape of careers in finance, but finance remains among the most competitive and attractive of all career fields (International student)”. The purpose of this paper is to describe two (2) financial career options that an individual with a finance education might pursue and explain the value that such a position adds to a company. The two financial career options that a person with finance education might pursue are financial specialists and finance analysts.
The root of the debt burden problem lies with the institutions themselves, which are expensive to afford. However, institutions of higher learning might not be the only ones to blame since in most cases they respond to prevailing financial demands related to the provision of the educational programs they offer. For instance, due to increase in the cost of electricity and food, a university or a college may be forced to charge more to account for the additional expenses the institutions have to have for electricity. Similarly, due the rapidly changing economic times, the cost of running institutions over time certainly increased and newly admitted students had to pay for the
My intended major is Business. Business content is generally a comprehensive accounting, economics, finance, marketing science and organizational behavior concepts. The concept in society is prior to the operation of business and personal financial management on the benefits and influence. Because the relationship between industrialization and information technology services was booming, commercial terms a large number of derivatives, so business is considered in making the business a way to enter the job market prior to the social utility, Therefore, I also chooses Business as my university departments. Because of world trade and development, globalization has made countries increasingly dependent; therefore, business is importance and
It is well known to the people of the U.S. that the cost of college is increasing. Tuition, room and board/housing, books, food, and other materials all play a crucial part in determining the cost of school, as well as location in relation to the college.
I found my passion for arts administration as a sophomore in college. Growing up, music had always played a big part in my life. I had always thought that I would become a music teacher. However, when I accepted an internship position in the summer of 2015 working for the renowned Handel and Haydn Society in Boston, my plans changed. Suddenly, the idea of working behind the scenes, and operating an arts organization excited me immensely. As I found internships working for the New Jersey Symphony Orchestra, the Orpheus Chamber Orchestra, Jazz House Kids and Little Kids Rock, I became fixated on the business aspect of the arts. Planning and executing various performances, fundraising events and educational programs was exciting and gratifying, which led me to decide to pursue a career in arts administration and attend graduate school. I decided that attending the University of Cincinnati was the best option for me because of its academic rigor and because it offers a program in which I can earn my MA and MBA in Arts Administration. I believe pursuing an MBA would be an excellent opportunity for me to gain the educational experience needed to excel in this field.
I believed financial sector is one of the fastest growing and most influential elements in our modern society and economy. Financial professionals help companies and organizations stay on top of their own finances, which is a top priority in the wake of the recession. The growing of financial services in the world has brought massive opportunities to utilize newer principles, methodologies, tools and practices in the field of finance. It is this challenging field in which I would like to gain expertise.
of a microbrewery is a brewer that produces less than 10,000-15,000 barrels per year. This
The University of Pennsylvania has one resource that no other establishment in the world can offer to me: the highest caliber of intellectuals in my field. Given that I intend on attending the Wharton School of Business and with the goal of becoming a financial manager, and then rising further along corporate ladder, I must be at the absolute forefront of the field and gain as many connections as I can along the way. Not to be used, people are not tools. But, I am NOT one who is content to let themself fall into the pit of mediocrity And I recognize that the success of one individual can inspire success in those around them. Thus, is researched the different groups that students have put together for the mutual benefit of both University of Pennsylvania and the Wharton School of Business and the multitude of opportunities they present myself: investment experience, interdisciplinary education, and furthering my understanding of the Chinese economy.
Financial Management is a critical aspect of any business in order to achieve a sustainable and efficient cash flow. It is essential in maintaining the link between a business’s future financial goals (profit maximization) and the resources that it has in order to achieve its objectives. Businesses demand certain common goals that increase a bussiness's all around achievement, Some of which involve; growth amongst assests, An increase in efficiency in all areas of the business whether it be management or not. And the ability to meet short term and long term debts. Finacial management undertakes the responsibility to implement and acheive these goals for the business using a range of strategies shaped to meet the needs of the business and
The MBA program was introduced for the first time in the United States in the early 20 th Century and was modeled on the basis of the prevalent 2-year graduate programs. It gained significant traction after its inception, however was later criticized for its lack of practical relevance. It was often said that “MBA was too academic, too theoretical and divorced from real-life business practice.”1 Business school subsequently responded by improving quality of teaching and content. The first year was dedicated to