Wondering if an MBA or that engineering Master's is worth it? There's a lot to consider, so we've put together a calculator which will help you estimate the potential returns of studying for your postgraduate degree.
A Master's degree is a chance to boost your career and salary by learning new skills and building a professional network with like-minded, ambitious peers.
But we also know that postgraduate study can be expensive, and taking time out to study often also means giving up a salary for 1-2 years.
What's the best way to look at your return on investment when paying for a postgraduate degree? Try out the calculator tool above to find out if taking some time to do your Master's degree will pave the way for improved professional development, or if you should continue in your current career path.
What are some of the non-tangible benefits you can expect from a Master’s?
This calculator compares 2 scenarios.
This scenario takes your current salary and projects that you'll continue to work for the next 22 years. You won't have any upfront costs, and your salary will increase each year based on the rate you've selected.
In this scenario, we assume you aren't working for 2 years while you study. During that period, income is assumed to be $0, and you'll be paying the cost of attendance. After that however, you'll be earning your post-degree income, which will increase each year (at the rate you've selected) for 20 years.
To calculate whether you would make more or less over the full 22-year period, we simply subtract the total salary earnings in Scenario A from those in Scenario B.
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