Group 3 Eric Aube Joseph Tirona How long

Group 3 Eric Aube Joseph Tirona How long

Group 3 Eric Aube Joseph Tirona How long do I have to stay in school? Bachelors vs. Masters in Engineering vs. MBA By Eric Aube and Joseph Tirona Scenario A Mechanical Engineering student at Cal Poly is about to graduate with his Bachelors

Degree. He has a 3.6 GPA and gets offered a job at Jet Propulsion Laboratory for $60,0000. He is debating between: taking the job offer, staying in school to get a Masters Degree in Mechanical Engineering, and getting a Masters in Business Administration (MBA). Scenario 1: Bachelors Degree

Age at Graduation: 23 Starting Salary: $60,000 (salary.com) Retiring at: 62 Annual salary increase: 3% Percent of pre-tax income in 401K: 15% Company matches 80% up to 10% Scenario 2: Masters Degree in Mechanical Engineering (CPP)

Full time Graduate Student Age at Graduation: 26 Starting Salary: $70,000 (salary.com) Extra tuition cost: $20,000 over three years Retiring at: 62

Annual salary increase: 3% Percent of pre-tax income in 401K: 15% Company matches 80% up to 10% Scenario 3: Masters Degree in Business Administration (CPP)

Full time Graduate Student Age at Graduation: 25 Starting Salary: $65,000 Extra Tuition Cost: $12,000 over two years Retiring at: 62 Annual salary increase: 3% Percent of pre-tax income in 401K: 15% Company matches 80% up to 10% Criteria

Which of the three options will yield the best future value at age 62? Holding all other factors constant Cost of transportation Cost of living Personal expenditures (food, vacations, etc.)

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