Sunday, May 15, 2016

GMAT and Master's Degree application

6 days from now I will be taking the GMAT.  This is essentially an entrance exam for business schools offering the Master's Degree.  I am applying at Bradley University in Peoria, for their Master of Science in Accounting program.  I have been studying and am finally comfortable with where I'm at.  I have completed the remainder of the application process, including having 2 letters of recommendation submitted for me, writing an essay on why I want to study for the Master's Degree, submitting a copy of my resume, transcripts from 2 previous colleges I've attended, and the application fee.  All that's left is for my score on the GMAT to be submitted and wait for them to decide.  If accepted, I will be starting in the fall on a part-time status.  It's a 2 year program when enrolled on a part-time status.

Financially, this will be a great opportunity.  The core cost is approximately $25K for the program.  However, Bradley has an agreement with my employer, and there is a 35% discount offered for employees.  Combine this with $3500 per year in tuition reimbursement through my employer, and the reduction in cost is significant.  If I can get my grades back for the fall semester, and the amount is at or above the full $3500, then I can potentially receive 3 years of reimbursement.  This reduces the cost potentially to:

25K less 35% (8,750) less $3500 x 3 years (2016, 2017, 2018) = 10,500 = $5,750 out of pocket for a Master's Degree from a well-known university.  The earnings potential increase is such that this would be a very low cost in the long run.  I'll just need to find a better paying job, which I realize is easier said than done.  However, with the job placement program at Bradley, and with their alumni being in high profile jobs across the country, I feel confident that something better will find me.  I may even finally start looking out of state as I've been hoping to do, with the Las Vegas area a definite point of interest.

Please wish me luck.  I will have an unofficial result immediately next Saturday, with the Essay I have to write not being included.  The official final score is to be available within 20 calendar days of the exam.  I will keep all 2 of you who may be interested informed on the results and the status of my application to Bradley University.  Thanks for reading!

5 comments:

  1. Using your employee discount to find a better job. Isn't America great? :)

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    1. It is amusing. Luckily, even if this wasn't offered, a simolar discount is offered for individuals with a GPA of a certain level based on undergrad work. I would have qualified through the discount in that way as well.

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    1. Thanks mojo!! With any luck, a better job will come my way and I may still someday play in a wsop event!!

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