People are constantly worried about the price tag associated with an MBA. Well let me tell you something, it is not nearly as high as it appears.
Dalhousie’s Corporate Residency MBA has a proven formula for success. Last year 97% of its graduating students were employed within three months of walking across the stage at convocation. Great odds, if I do say so myself.
Business people are always concerned about their return on investment (ROI). Essentially, will I get more back than I put in? Well I’m about two months away from graduating and here’s how I see it playing out…
According to Statistics Canada, the average salary for someone with an undergrad degree after two years on a job is $45,000. Me, I decided to invest those two years and pursue an MBA here at Dalhousie. The average CRMBA graduate earns a starting salary of $65,000. Considering tuition is roughly $44,000 (paid in four installments over course the program), my ROI is already in good condition.
But, it gets even better.
The cornerstone of the MBA program is the 8-month Corporate Residency each student embarks on. Me, I did mine with Eastlink. Not only did my residency give me valuable work experience and potential post-graduation opportunities, but the average residency pays candidates $27,500 – a decent wage that helped me offset tuition costs.
There are also a ton of scholarships that are catered to our CRMBA program.
Everyone offered admission into the program is automatically considered for a scholarship. Plus, the Rowe School of Business hands out scholarships to recognize undergraduate excellence. Subject-based scholarships are given out to entrance and returning students – like the Douglas C. Mackay Scholarship for those pursuing a career in the financial industry.
Aside from scholarships, candidates can make money through the student-owned consulting groups, which are companies passed down from generation to generation of MBAs. These are real-working firms that bid on contracts within the school and outside in the business community at large. There’s a lot learn and money to be made from these firms – I know from experience.
Case competitions are another way to help offset the cost of tuition. Dalhousie is ramping up its efforts on this front, and training teams to compete in national competitions with hefty prize money. Next month, three colleagues and I are participating in the Haskayne 24-Hour Case Competition in Calgary – vying for a prize pot of $16,000. Cases are both exhilarating and financially rewarding.
The CRMBA program works closely with its Employer Partner Scotiabank to get financial assistance for candidates admitted into the program. I took out a loan with Scotiabank before I first started the program, and I already have most of it paid off.
At the end of the day, tuition is far more affordable than you think. The numbers speak for themselves.
Kyle, thanks for sharing your story. It’s always great to hear about how our students are earning while learning, and how they’re starting their careers on a firm financial foundation.