Bus 650
1. How does Ben’s age affect his decision to get an MBA?
In this case, Ben’s age affects his decision to get an MBA because he is now 28 years old and has been out of school for six years. Assuming Ben has worked for the previous years since graduation, he has accumulated money from saving his salary in order to obtain his MBA. Now starting an MBA program at 28 years old, Ben will suspend working to spend at least two years studying and finishing his MBA. He will finish by the age of 30 if he chooses to attend Wilton University and possibly by 29 if he chooses to attend Mount Perry College. Assuming after he finishes his MBA and returns to work for 40 years he will now delay retirement by 1 to 2 years (and possibly even longer depending on the changing retirement age), however he needs to keep in mind the higher salary he will obtain throughout his career by having an MBA.
2. What other, perhaps non-quantifiable factors, affect Ben’s decision to get an MBA?
There are several non-quantifiable factors affecting Ben’s decision to get an MBA. Ben’s family situation will come into play. If he is married whether they have children or not, this can affect Ben’s decision to return to school because of having to support a spouse or child will put a financial burden on his expenses. Considering that Ben has already worked for about 5 years since he graduated from college, he already has the job experiences that MBA programs usually require their candidates within their respective field. Lastly, his willingness to continue his education comes into play. If Ben is willing and ready to continue his education then he should be successful. However, if the willingness to learn and ambition to move forward with his education is not there he should choose another path.
3. Assuming all salaries are paid at the end of each year, what is the best option for Ben—from a strictly financial standpoint?
There are a few scenarios to look at:
1. Ben keeps his current job
In this case, Ben’s age affects his decision to get an MBA because he is now 28 years old and has been out of school for six years. Assuming Ben has worked for the previous years since graduation, he has accumulated money from saving his salary in order to obtain his MBA. Now starting an MBA program at 28 years old, Ben will suspend working to spend at least two years studying and finishing his MBA. He will finish by the age of 30 if he chooses to attend Wilton University and possibly by 29 if he chooses to attend Mount Perry College. Assuming after he finishes his MBA and returns to work for 40 years he will now delay retirement by 1 to 2 years (and possibly even longer depending on the changing retirement age), however he needs to keep in mind the higher salary he will obtain throughout his career by having an MBA.
2. What other, perhaps non-quantifiable factors, affect Ben’s decision to get an MBA?
There are several non-quantifiable factors affecting Ben’s decision to get an MBA. Ben’s family situation will come into play. If he is married whether they have children or not, this can affect Ben’s decision to return to school because of having to support a spouse or child will put a financial burden on his expenses. Considering that Ben has already worked for about 5 years since he graduated from college, he already has the job experiences that MBA programs usually require their candidates within their respective field. Lastly, his willingness to continue his education comes into play. If Ben is willing and ready to continue his education then he should be successful. However, if the willingness to learn and ambition to move forward with his education is not there he should choose another path.
3. Assuming all salaries are paid at the end of each year, what is the best option for Ben—from a strictly financial standpoint?
There are a few scenarios to look at:
1. Ben keeps his current job