What’s the Real Cost of an MBA?

Continuing education adds skills and value to your career portfolio whether you are trying to get ahead in a corporate environment or planning to start your own business. If you are looking to further your education, there are a number of great options to choose from. But the biggest obstacles most people encounter are deciding what sacrifices they are willing to make in order to meet their goal. The major deciding factors are the length of time required to complete the program and the cost.

While some larger employers may still offer to pay for employee education, if you happen to be self-employed, a student, unemployed or under-employed, cost will most definitely be the primary deciding factor. A typical MBA program can easily cost $100,000. This is assuming that you have already completed a four-year university program.

Duration of the program is also a critical factor in choosing which direction to go to further your education. If you have a family, you are self-employed, launching a business or if you are already a student, the time spent pursuing your education takes time away from your primary role.

Additional course prerequisites may also require additional time outside of the MBA course studies such as successfully passing the GMAT (Graduate Management Admissions Test) before you can even apply to an MBA program. The GMAT is not an easy test and requires that you apply yourself and study for months before you actually take the test. This can easily add months on top of the 2 years that it typically takes an individual to complete an MBA program, further delaying your opportunity to start making more money.

The chart below summarizes the cost and duration of three types of programs. Of course, if you have the money and the time it might be advisable to earn an MBA or eMBA if your goal is to attract an increase in salary or you are looking to make yourself more attractive to a large corporation.

Traditional MBA Executive MBA Certified Entrepreneur®
Duration 2 Years 1 – 2 years 3 Months
Cost $100K to $120K $50K – $100K $1,995.00
Prerequisites 4 Year Degree
GMAT Test
4 Year Degree
GMAT Test
High School Diploma
or Equivalent
Degree MBA eMBA Certified Entrepreneur® Certificate
Certified Entrepreneur® is a registered trademark of Guanzi Institute
The Certified Entrepreneur program removes the fluff, and boils down concepts into easily understandable knowledge that you will be able to apply immediately at your current job or towards your existing or startup business.

 

“Think about what Opportunity Cost means to you in continuing your education. What could you accomplish at your present job or in your brand new startup if you had two full years and an extra $50K to $100k to invest?  With Certified Entrepreneur you will!”

By the time you complete the program you will have a much greater understanding of what it takes to start a business as well as a number of skills, tools and ongoing coaching to support you in meeting your business goals.Learn more about Certified Entrepreneur.

 

Loading Facebook Comments ...

Submit a Comment

Your email address will not be published. Required fields are marked *

Loading Disqus Comments ...