Reply to My Master's vs DH's job

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[quote=Anonymous]Your husband is right. You want the degree for the sake of the degree. You really haven' t though through the financial cost vs. payoff (income) aspect. Education expense is no different than investment expenses. You have to be able to recover those costs plus make a profit within a reasonable pay-off period. Unless you have a high probability of doing this its a waste of time and money.

Evidence. A few years ago I attended an information session at a well respected regional business school. the approximate cost of the MBA was between 80 - 100K. During the session they had the top 10 graduates of the previous cohort available to answer questions. I asked the group what their income was prior and post getting the MBA and what their title/position was. Every one of them was in the same job with the same pay except for one person. Each of them now had debt except for one person. The one person had negotiated in advance for their company to pay the tuition and that he would get a pay raise when he graduated BEFORE he started the program. Three of the people were unemployed. One was a SAHM who thought an MBA was he "ticket." She stated that the most value she got out of the program was "connections." I asked her how her "connections" were helping her. She stated that she uses them by occasionally meeting with them and having coffee.

Bottom line. your doing this has the significant potential to consume family resources and not produce any benefit for the family. In other words this is most likely a selfish ambition UNLESS you have clear and convincing evidence (i.e. a written agreement from a current employer) outlining how the investment will help you.

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