Comments on: Go To Grad School, Get Rich Or Die Trying http://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/ Slicing Through Money's Mysteries Thu, 29 Jul 2010 19:52:22 +0000 hourly 1 http://wordpress.org/?v=3.0 By: And The First $1,000 MBA Giveaway Winner Is……….. | Financial Samuraihttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-1452 And The First $1,000 MBA Giveaway Winner Is……….. | Financial Samurai Sat, 31 Oct 2009 11:41:01 +0000 http://www.financialsamurai.com/?p=1473#comment-1452 [...] “Go To Grad School, Get Rich Or Die Trying” [...] [...] “Go To Grad School, Get Rich Or Die Trying” [...]

]]> By: Financial Samurai $1,000 Giveaway And A Chance To Make Millions Over Your Career! | Financial Samuraihttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-1160 Financial Samurai $1,000 Giveaway And A Chance To Make Millions Over Your Career! | Financial Samurai Mon, 26 Oct 2009 07:30:47 +0000 http://www.financialsamurai.com/?p=1473#comment-1160 [...] think it’s pretty clear by now there are enormous monetary benefits of getting your MBA from one of the top schools.  We highlighted last week those with graduate degrees have net worth [...] [...] think it’s pretty clear by now there are enormous monetary benefits of getting your MBA from one of the top schools.  We highlighted last week those with graduate degrees have net worth [...]

]]> By: adminhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-1014 admin Thu, 22 Oct 2009 15:48:54 +0000 http://www.financialsamurai.com/?p=1473#comment-1014 Larry - That's true, there is a point where the returns really don't justify the expense, but by then, the person will be 35 years old and too late to realize they shouldn't have spent $50,000/yr to go to some no name private school! I'd be curious to know though, let's say your daughter got into Harvard undergrad, how much would be willing to pay a year in tuition? It was between Harvard for $60K a year and a no-name state school for $8k a year, which do you choose? Larry – That’s true, there is a point where the returns really don’t justify the expense, but by then, the person will be 35 years old and too late to realize they shouldn’t have spent $50,000/yr to go to some no name private school!

I’d be curious to know though, let’s say your daughter got into Harvard undergrad, how much would be willing to pay a year in tuition? It was between Harvard for $60K a year and a no-name state school for $8k a year, which do you choose?

]]> By: Larry L, New Yorkhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-1010 Larry L, New York Thu, 22 Oct 2009 13:29:45 +0000 http://www.financialsamurai.com/?p=1473#comment-1010 <a href="#comment-998" rel="nofollow">@admin </a> But why is education demand inelastic? Is it because people value higher education a lot, or is it because the govt in the past has offered low rate loans (govt intervention)? I look at higher education as any other investment, there comes a point where the value of the education outweighs the cost. Same with if you are 100k in debt from education, yet only make 30k year after graduation. How long will it take before you pay back this debt? There comes a point you are better off with the lower paying job with no debt, than a slightly higher paying job and massive debt. With your posting's charts you assume previous performance equals future returns. :-) People will seek alternatives, either because they want to or have no other choice. @admin

But why is education demand inelastic? Is it because people value higher education a lot, or is it because the govt in the past has offered low rate loans (govt intervention)?

I look at higher education as any other investment, there comes a point where the value of the education outweighs the cost. Same with if you are 100k in debt from education, yet only make 30k year after graduation. How long will it take before you pay back this debt? There comes a point you are better off with the lower paying job with no debt, than a slightly higher paying job and massive debt. With your posting’s charts you assume previous performance equals future returns. :-)

People will seek alternatives, either because they want to or have no other choice.

]]> By: adminhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-998 admin Thu, 22 Oct 2009 05:23:03 +0000 http://www.financialsamurai.com/?p=1473#comment-998 Larry - Wow, nice chart! That's nuts! I can't imagine how much tuition will cost if your kids want to go to private school in 10-15 years! The thing is.... education demand is so inelastic, the best schools in the world can practically charge whatever they want. Unless people start thinking education isn't important, I think the bubble continues! I for one think that education is the absolute KEY to everything. FS Larry – Wow, nice chart! That’s nuts! I can’t imagine how much tuition will cost if your kids want to go to private school in 10-15 years!

The thing is…. education demand is so inelastic, the best schools in the world can practically charge whatever they want. Unless people start thinking education isn’t important, I think the bubble continues! I for one think that education is the absolute KEY to everything. FS

]]> By: Larry L, New Yorkhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-996 Larry L, New York Thu, 22 Oct 2009 03:45:14 +0000 http://www.financialsamurai.com/?p=1473#comment-996 Found an interesting graph showing CPI-U and college Eduction inflation Rate. UGH! http://inflationdata.com/Inflation/images/charts/Education/Education_inflation_chart.htm Like housing this can't be sustainable. Found an interesting graph showing CPI-U and college Eduction inflation Rate. UGH!

http://inflationdata.com/Inflation/images/charts/Education/Education_inflation_chart.htm

Like housing this can’t be sustainable.

]]> By: adminhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-941 admin Tue, 20 Oct 2009 11:28:54 +0000 http://www.financialsamurai.com/?p=1473#comment-941 Hi Tyrone - Is it hard to get an employee visa coming from The Philippines? I have a Filipina colleague here in the US, and all she's thinking about doing is going back to Manila to work. Is it possible that the grass is greener on the other side? There must be an MBA program in The Philippines too no? Hi Tyrone – Is it hard to get an employee visa coming from The Philippines? I have a Filipina colleague here in the US, and all she’s thinking about doing is going back to Manila to work. Is it possible that the grass is greener on the other side?

There must be an MBA program in The Philippines too no?

]]> By: adminhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-940 admin Tue, 20 Oct 2009 11:27:03 +0000 http://www.financialsamurai.com/?p=1473#comment-940 Hi Shakela - If you're already getting your masters in mental health counseling (COOL!) then it seems a little overkill to get your masters in business administration. I'd focus on your current masters first and see how far that takes you. After 3-4 years working, you can think the MBA. In 3 years, I think you'll be itching to start working full time anyway and see what you can do with it! The irony for me is, I never wanted to go to school again after undergrad. The last downturn forced my hand, and I needed a logical back up in my mid-to-late 20's, and getting my MBA part-time was the logical choice. If I got blown out at work, I could always enroll full time. Good luck! FS Hi Shakela – If you’re already getting your masters in mental health counseling (COOL!) then it seems a little overkill to get your masters in business administration. I’d focus on your current masters first and see how far that takes you. After 3-4 years working, you can think the MBA.

In 3 years, I think you’ll be itching to start working full time anyway and see what you can do with it! The irony for me is, I never wanted to go to school again after undergrad. The last downturn forced my hand, and I needed a logical back up in my mid-to-late 20′s, and getting my MBA part-time was the logical choice. If I got blown out at work, I could always enroll full time.

Good luck! FS

]]> By: Shakelahttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-934 Shakela Tue, 20 Oct 2009 06:23:40 +0000 http://www.financialsamurai.com/?p=1473#comment-934 I don't know much about the MBA. (Though I've been told by both parents and my roommate in the last week that I should get one :) ). However, I am working on my master's in mental health counseling. (License in 3 years yay!!!!) Seems like it doesn't follow in that field at least if you're salaried for it to be "worth it". A bachelor's level case manager makes usually low 30's a year. A master's level therapist makes probably low 40's. Not sure it's worth the 40K+ for grad school. However... if you go into private practice there's a LOT more room for growth. And there's a definite ceiling with the bachelor's level, since you CAN'T legally practice without a license aka the advanced degree. Curious on your thoughts on the matter. I don’t know much about the MBA. (Though I’ve been told by both parents and my roommate in the last week that I should get one :) ). However, I am working on my master’s in mental health counseling. (License in 3 years yay!!!!) Seems like it doesn’t follow in that field at least if you’re salaried for it to be “worth it”. A bachelor’s level case manager makes usually low 30′s a year. A master’s level therapist makes probably low 40′s. Not sure it’s worth the 40K+ for grad school. However… if you go into private practice there’s a LOT more room for growth. And there’s a definite ceiling with the bachelor’s level, since you CAN’T legally practice without a license aka the advanced degree. Curious on your thoughts on the matter.

]]> By: Tyrone | Millionaire Actshttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-933 Tyrone | Millionaire Acts Tue, 20 Oct 2009 04:14:10 +0000 http://www.financialsamurai.com/?p=1473#comment-933 How I wish I could have a chance to work there in US for me to know if this median networth works for me too. I think I should pursue an MBA degree. A lot of top executives have at least MBA degress. I don't know if it's a prerequisite but with the looks of it, I think somehow it is. How I wish I could have a chance to work there in US for me to know if this median networth works for me too.

I think I should pursue an MBA degree. A lot of top executives have at least MBA degress. I don’t know if it’s a prerequisite but with the looks of it, I think somehow it is.

]]> By: adminhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-931 admin Tue, 20 Oct 2009 01:13:54 +0000 http://www.financialsamurai.com/?p=1473#comment-931 Canz - I like your opinion bc it sets up for my next post, which may end up offending everybody outside of the most well ranked schools! I take a quote from a senior editor of a major magazine, to start the debate. FS Canz – I like your opinion bc it sets up for my next post, which may end up offending everybody outside of the most well ranked schools! I take a quote from a senior editor of a major magazine, to start the debate. FS

]]> By: canzhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-930 canz Tue, 20 Oct 2009 01:10:23 +0000 http://www.financialsamurai.com/?p=1473#comment-930 i would suggest people only go to [graduate] school to learn more about a field they love, rather than the hopes of making lots of money from it. no one really cares where you went to school, it's the hard work and experience you gain after school that gets you $$$, not the piece of paper. i would suggest people only go to [graduate] school to learn more about a field they love, rather than the hopes of making lots of money from it. no one really cares where you went to school, it’s the hard work and experience you gain after school that gets you $$$, not the piece of paper.

]]> By: adminhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-928 admin Mon, 19 Oct 2009 23:15:44 +0000 http://www.financialsamurai.com/?p=1473#comment-928 Gen Y - The older you are, the less likely you need an MBA I've found b/c they are already successful. The problem is that since so many young gunners are getting their degrees, game theory says that if you are also a young gunner, and do not get one, then you are at a disadvantage. Knowing someone important to get your foot in the door, or provide for a fast track promotion is even more valuable though. Hence, people should do whatever they can to buy connected people lunches or dinners. It's much cheaper than $80,000 in tuition! Look into part-time programs so you don't miss a beat. FS Gen Y – The older you are, the less likely you need an MBA I’ve found b/c they are already successful. The problem is that since so many young gunners are getting their degrees, game theory says that if you are also a young gunner, and do not get one, then you are at a disadvantage.

Knowing someone important to get your foot in the door, or provide for a fast track promotion is even more valuable though. Hence, people should do whatever they can to buy connected people lunches or dinners. It’s much cheaper than $80,000 in tuition!

Look into part-time programs so you don’t miss a beat. FS

]]> By: Gen Y Investorhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-927 Gen Y Investor Mon, 19 Oct 2009 22:39:54 +0000 http://www.financialsamurai.com/?p=1473#comment-927 This is something I've been debating recently. At first thought the MBA sounds like a good idea but after factoring costs of going to a good program and the time commitment it's not so simple. When I look at a lot of successful people in my line of work there are a lot of people who do just fine w/o advanced degrees. I think there comes a point where your hard work, social skills and drive can be enough to propel you to the next level. Just my opinion though. This is something I’ve been debating recently. At first thought the MBA sounds like a good idea but after factoring costs of going to a good program and the time commitment it’s not so simple. When I look at a lot of successful people in my line of work there are a lot of people who do just fine w/o advanced degrees. I think there comes a point where your hard work, social skills and drive can be enough to propel you to the next level. Just my opinion though.

]]> By: BGhttp://www.financialsamurai.com/2009/10/19/go-to-grad-school-and-get-rich-or-die-trying/comment-page-1/#comment-923 BG Mon, 19 Oct 2009 16:13:56 +0000 http://www.financialsamurai.com/?p=1473#comment-923 <a href="#comment-922" rel="nofollow">@BG </a> Let me double post: on that last chart, if you put another column on there that had "percent of networth if 15% flat-income tax", you will drastically see how regressive the flat-income tax idea would be, the numbers are: 82%, 357%, 249%, 167%, 33%, 28%, 12%, 12%, 8%, 8%, 6%, 7%, 4% lower income people would be taxed at a much greater rate under a flat-income tax... @BG
Let me double post: on that last chart, if you put another column on there that had “percent of networth if 15% flat-income tax”, you will drastically see how regressive the flat-income tax idea would be, the numbers are:

82%, 357%, 249%, 167%, 33%, 28%, 12%, 12%, 8%, 8%, 6%, 7%, 4%

lower income people would be taxed at a much greater rate under a flat-income tax…

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