I had this post in my to-do list for a long, long time. Today, on my last day of spring break, I decided to pay some attention to my blog :). This is the second part of the series “How much does an MBA really cost” that I started almost a year ago -as always, time flies!
In this time of the year, there are a lot of people making plans to quit their jobs to start an MBA during the summer or fall. There are also a lot of prospectives thinking about doing an MBA. In both cases, people ask themselves the same question: how much does an MBA REALLY cost?
In this second part of the post I will write about all the expenses that an MBA student will face from the moment they are admitted to an MBA until their first days in USA. As always, this is just an estimation, and is going to be different for each business school. As I am married, I will also include my wife’s expenses.
At Fuqua, international students have to choose the Duke health insurance. I decided to also take the same for my wife, as the coverage and hospitals are good. Regarding cell phones, as we do not have a social security number, AT&T made us pay a deposit of $500 per phone number to be able to sign a contract with them.
As mentioned, this is just an estimation. Anyone thinking about doing an MBA should at least have $32,000 upfront to pay the MBA deposit and move to the US. This amount will vary for each business school. For instance, if you are going to study in NYC or Chicago, you might not need to buy a car, but on the other hand, your housing expenses will increase to at least $1,500 -one bedroom apartment.
This is quite an investment, but personally I’m really glad I made it. I’m having a great experience and I’m learning a lot. I’m also having access to job opportunities that before I just dreamed about. Finally, based on what I have seen regarding salaries, I am certain that the investment is worth it.