Thinking about an MBA in dollars and cents? Here are some tips to help you determine whether or not an MBA will be a profitable investment:

The Investment

Below are some of the costs to consider when estimating the investment of an MBA:

• Application expenses – application fees, campus visits, admissions consulting, etc.

• Tuition

• Moving expenses

• Traveling to and from school

• Textbooks, cases, etc.

• Technology – laptop, software, etc.

• Interest on student loans

• Opportunity Cost - What will you give up in terms of salary, benefits, promotion opportunities, etc. in order to pursue an MBA?

The Return Side

Below are some of the benefits to consider when estimating the benefit of an MBA. The wage statistics below are taken from the 2004 version of an annual research report conducted by the Graduate Management Admissions Council (GMAC) on recent MBA graduates. While pondering these questions, consider what an MBA can offer:

• Starting Salary – The recent MBA graduates earned a mean salary of $56,190 prior to earning an MBA and a mean salary of $78,608 in their first position accepted after receiving an MBA.

• Signing Bonus – Of the 50% of MBA graduates who received a signing bonus, the mean signing bonus was $14,801.

• Salary Growth