> If money is the only reason for getting the degree, you may be right. There
> are lots of other reasons. Plenty of scientists get advanced degrees because
> that is their love. If MBA's are the only advanced degree you know of, you
> are living in a hole.
Exactly. The author also doesn't factor in the fact that many people,
including me, are going to graduate school on a scholarship or through
employee tuition remission. I am working on an MS degree and I pay
nothing for my tuition, although I do pay for my own books and any extra
fees such as my school's technology fee, but even with the fees and book
costs, its a bargain.
>"Ablang" wrote in message
>Why Graduate Degrees Are a Rip Off: Crunching the Numbers
>Submitted by G.E. Miller on Thursday, 21 January 2010
[ ... ]
>According to a recent Wall Street Journal article, the average salary
>of a full-time worker with a bachelor’s degree is $50,900. Those with
>a master’s degree averaged $61,300.
[ ... ]
>Tuition ($98K ) + Opportunity cost of lost wages ($102K) + Room/board/
>tuition/other ($50K) = $250K
[ ... ]
>How Long Would it Take to Make your Money Back on a Graduate Degree?
>Well, if we’re going by the WSJ averages above, we’re looking at an
>average annual salary increase of $10,400 with the grad degree. At
>these numbers, it would take you nearly 25 years to make your money
>back on your initial investment (I’ll be kind and leave out the cost
>of the loans). [ ... ]
Sorry, you missed a minor issue--that $10,400 is pre-tax; after tax
money available to actually pay toward the cost would be about $6,760,
assuming an aggregate tax rate of about 35% (income, FICA, etc.).
That changes the payback period to the 37 year range.
Gary
--
Gary Heston gheston@hiwaay.net http://www.thebreastcancersite.com/
"It's kind of hard to rally 'round a math class."
Paul "Bear" Bryant
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> are lots of other reasons. Plenty of scientists get advanced degrees because
> that is their love. If MBA's are the only advanced degree you know of, you
> are living in a hole.