Statistics show that the average person who has a master’s degree earns about $17,000 more per year than people who hold a bachelor’s degree. Not surprisingly, the prospect of making an extra $170,000 over the next decade convinces a lot of people to enroll in graduate school.
Before you go back to school, though, you should think about the return on your investment. After all, you’ll have to spend money on tuition, books, and other materials. A lot of master of business administration (MBA) students find that they don’t have enough time to continue working full-time jobs while they’re enrolled in a graduate program. If the stress of school and work becomes too great, then you might need to cut back on the number of hours you work. In short, getting an MBA usually means spending money while you earn a smaller salary.
Don’t give up on getting an MBA just because of the financial difficulties. Earning your master’s degree online offers the flexibility that you need to finish school without giving up your full-time job. You’ll still have to put in a lot of effort over the next couple of years, but online programs can make earning an MBA much more affordable.
You’ll need to consider a lot of things before deciding whether you want to pursue another degree. Check out this infographic, published by Washington State University, to learn more about whether it’s a good idea for you to earn an MBA online.