October 24, 2023Read More
Founder Paul Bodine was recently invited by Charlie Wells, Bloomberg Wealth Weekly‘s “You Ask We Answer” column, to address the question of whether an MBA is worth the cost vis-a-vis a Masters in Information Systems. Read on for Paul’s reply, or follow this link to the article.
Question: “I’m in my mid-20s. Ever since graduating from undergrad, I’ve been thinking about pursuing a masters in either information systems or an MBA. For those of you who have a masters, was it worth going into debt for? Did you get a big enough pay increase? Did it open up more job opportunities for you?” — Imani Porter, 25, Washington D.C.
Paul’s Answer: “Think of the Masters in Information Systems as a technical specialization and the MBA as a career versatility degree. If you love IT, then the best MIS programs provide high placement rates into a faster-than-average-growth sector, with average starting salaries of around $85,000. Given annual tuitions of $19,000-$25,000, the ROI on your one-to-two-year in this field is good. If you seek broader career options, then the most prestigious MBA programs offer high job placement rates, excellent average starting salaries above $150,000 (increasing 1%-7% annually), and a broader range of employers. Top MBAs cost much more than MIS degrees, roughly $100,000 annual total cost for a two-year degree – but high salaries mean top salary-to-debt ratios of two-to-one and thus good ROI. But keep in mind that getting into a top program and landing a high-paying job is no easy feat in any economy.”
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