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A crucial step of carrier development is decision making process for the continuation of MBA studies. This professional degree gives financial and non-financial benefits to MBA graduates (Hart,Fox, Korstad & Nill, 2017). This degree is not only knowledgeable but it also increases the confidence to graduates to give suggestions in organizational matters. It is very important to select the best institution for the persuasion of this professional degree (Pieri, Valenta & Iriti, 2019) Moreover, age is also a very important factor while taking admission in MBA. To show the hidden talent in a company, it is necessary that you should have an enough knowledge. Graduation in MBA can also increase the credibility of a person while working in an organization (Rubens, Schoenfeld, Schaffer & Leah, 2017). In this paper, many factors have been analyzed for decision making in continuation of MBA studies. To continue the study of MBA, age is a very essential factor in decision making. David is 28 years old and he were graduated from college six years ago at the age of 22 years old. This study will show the important factors that create an impact on the decision making of David for taking admission in MBA.
David is now at the age of 28 years old and he may have graduated from college at the age of 22. It's been 5 years when he had been graduated from college so he would have enough money to continue his studies. Two years are required to complete the MBA program and he will be at the age of 30 to finish the MBA program. He will be eligible for 40 more years to work for any organization after completing his professional degree of MBA. In the first option, his annual salary in the organization is $50000 per year and 3% per year increment is expected in his salary. The tax rate is 26% and the discount rate is 6.5%. David is currently earning $78,1228 at this time and he wants to continue his studies.
If David wants to take admission in Prentice university and get a job offer of $110,000 with tax rate 31% then the present value of this option is $1806,116, which is more than his current salary. If a bonus of $20,000 is offered to him, then the present value of the salary is raised by $17,633. If he spends on rental fee, health insurance, books and supplies, and tuition fee then the expenses he is expected to meet is $132860. If he is decided to work with a money management firm then the present value of his salary is $68398.
If David is interested in taking admission at Mount Alliance college then he will receive an offer a salary $92000 per year upon graduation with tax rate 29%. In this scenario, the present value of David for 39 years is $1463821. If a bonus of $18000 is offered to him than the present value of signing bonus is $15,870, which is less than the bonus of job offers after graduating from Prentice university. If he spends for health insurance, books and supplies, rent fee and tuition book then the present value of cost for one year is $84,033. If David wants to work with a money management firm with a salary of $50000 then the present value of one-year salary is $34,780.
It is more favorable for David to get admission in MBA at Prentice University because he is expected to earn more money by taking admission in this university. The present value is $1823749.97 per year if he will continue his studies from Prentice university. The study expenses in Prentice university are $132860 whereas his studies expenses at Mount Alliance College are $84,033 but he has enough money to continue his studies at Prentice University.
Hart, T. A., Fox, C. J., Korstad, J., & Nill, E. E. (2017). Sustainable MBAs: A phase model development of sustainability in MBA education. In Handbook of Sustainability in Management Education. Edward Elgar Publishing.
Pieri, J. W., Valenta Jr, W., & Iriti, J. (2019, March). Increasing the Value Proposition of the MBA Program through Experiential Based Learning aimed at Professional Development. In Developments in Business Simulation and Experiential Learning: Proceedings of the Annual ABSEL conference (Vol. 46).
Rubens, A. J., Schoenfeld, G. A., Schaffer, B., & Leah, J. S. (2017). Self-Directed Learning in MBA Leadership Courses: Using Strategic Professional Development Plans. In Academy of Management Proceedings (Vol. 2017, No. 1, p. 11373). Briarcliff Manor, NY 10510: Academy of Management.
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