[vc_row][vc_column][vc_column_text]For many business school candidates, the issue of ROI on your MBA is paramount. After all, why pay a huge amount for a degree that isn\u2019t going to pay off financially?<\/p>\n
While I appreciate the question, I find it overly simplistic; particularly as you are about to make a potentially life-altering decision. So, let\u2019s dig down deeper on some things to consider.<\/p>\n
Start off by understanding that there are two parts to the question of any ROI. There is the RETURN<\/strong> piece but there is also the INVESTMENT<\/strong> piece. So let\u2019s look at the investment side of the equation to better understand the decision you are about to make.<\/p>\n Everyone is intimidated by the thought of paying ~$200,000 for a business degree. Remember the actual dollars paid can be quite different from the published tuition cost. Yes, scholarships are available, and though they won\u2019t admit it, business schools do have money to spend on candidates they want in their programs.<\/p>\n Picking up on this idea that money is out there, I always push my clients to think beyond Harvard, Stanford and Wharton. Look to other schools that could offer them some dollars. When they say, \u201cI will only pay for a top school, otherwise I won\u2019t go.\u201d I respond, \u201cWhat if this school were free? Would you go then?\u201d At that point, most people start saying, \u201cYes.\u201d And suddenly a whole world of great, if lesser known, schools opens up to them.<\/p>\n This is where research counts. It is easy to identify your top ten school choices. How about places where you could both be admitted AND get a full ride. For many of you, this may mean an MBA program where, for example, Indian male engineers or Asian women, are not the largest pool of applicants. Guess what? They do exist, though they may be places you have never heard of. And, don\u2019t forget Arizona State University. Though more difficult to get into than practically any other school \u2013 with a 14 percent acceptance rate \u2013 if you do, it is free for all admitted.<\/p>\n Never heard of them? Well you should. These are just two of the schools where my international clients received a full-ride. Yes, they are paying $0 for their MBAs from a US program. It is amazing what you can find if you dig.<\/p>\n How about the Cox School of Business at Southern Methodist University in Dallas, TX? Only 16 percent international students, when the average percent is closer to 30+. If you have a 730+ GMAT, you are ABOVE the 80% range and will be helping to pull up their averages (and thus rankings). Overall, a beautiful school with a $1.5B endowment in a great city. First year compensation for graduates is an eye-popping $120,000. Your chance of acceptance very high, your chance of a full ride, also high.<\/p>\n While admittedly, Harvard, Stanford, and Wharton may still be your top choices, it may well turn out that schools like Northeastern, Brigham Young, and SMU may offer a better return on investment. After all, you don\u2019t have to go to business school to know that when the initial investment is low (or zero), the return on that investment can be through the roof. Though the roof may end up being in places like Utah or Texas.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":" [vc_row][vc_column][vc_column_text]For many business school candidates, the issue of ROI on your MBA is paramount. After all, why pay a huge amount for a degree that isn\u2019t going to pay off financially? While I appreciate the question, I find it overly simplistic; particularly as you are about to make a potentially life-altering decision. So, let\u2019s dig…<\/p>\n","protected":false},"author":38,"featured_media":8919,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[378,387],"tags":[655,652,653,654,690],"class_list":["post-8918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mba","category-mbanalysis-blog","tag-business-school","tag-mba","tag-mba-admissions","tag-mba-applications","tag-roi"],"yoast_head":"\n1. Sticker Price versus Actual Price.<\/strong><\/h5>\n
2. How about zero? Is zero too much?<\/strong><\/h5>\n
3. So where\u2019s free?<\/strong><\/h5>\n
4. Northeastern? Brigham Young?<\/strong><\/h5>\n