ROI and NYU's Part-time MBA [Episode 552]

Show SummaryIn this episode of Admissions Straight Talk, Linda Abraham discusses MBA return on investment (ROI) and NYU Stern's part-time MBA options with Isser Gallogly, Associate Dean of MBA Admissions at NYU Stern School of Business. They discuss how to calculate ROI, the ROI of NYU Stern's part-time MBA program, and the benefits and flexibility of the program. Isser Gallogly also provides tips for applicants and encourages them to create options for themselves by applying to the program.Show NotesAre you concerned about possible lack of ROI if you go for an MBA? Are you considering part-time options? Then today's episode is for you. We're discussing MBA ROI and NYU Stern’s four part-time MBA options.Welcome to the 552nd episode of Admissions Straight Talk. Thanks for joining me. Sometimes I'm asked, "Is the MBA worth it?" And my answer always is, “It depends on your individual circumstances”, but I've got good news. We've developed a tool that will help you evaluate whether an MBA is worth it for you and your individual circumstances, and by how much. Use Accepted's MBA ROI Calculator  and check out how much you are likely to benefit or not from getting an MBA. And using it won't send you back even one cent because it's free.We're going to dive more into the topic of MBA ROI today with our special guest. It gives me great pleasure to have back on Admissions Straight Talk, Isser Gallogly, associate dean of MBA admissions at NYU Stern School of Business. Isser has been involved in MBA admissions at NYU Stern for the last 20 years, and I've probably known you for about 20 years since you started there. Today we're going to talk about MBA, return on investment or ROI, and specifically the ROI provided by Stern's part-time MBA program and then how to get into that program. Isser, welcome back to Admissions Straight Talk. [1:53]Great to be here. Thank you.I'm delighted to speak with you today, as always. I want to start by discussing the topic of MBA ROI or return on investment. Since our listeners have not yet earned their MBA, maybe we should start by discussing how to calculate ROI. What is it? I mean, I've seen lots of definitions, not all of which I agree with.Yeah, there are a lot of different ways that you could think about ROI, and I think ultimately it probably comes down to the person and their individual goals in pursuing the part-time MBA. I think for most people, just the notion that they're going to gain useful information, skills, experiences that will help them advance their career, be more effective at their career, might be sufficient. But for some people, they want to do some type of financial calculation and oftentimes they want to look at things like how much does a program cost and then what might that do to my salary over my working life?Right, and the one caution I would give people is every so often I see ROI and the expense part of it includes living expenses, food, and room and board. And I would argue that that should not be part of the calculation in terms of calculating the ROI of an MBA, not because I'm trying to reduce the expenses, but because those are expenses you'd have regardless of whether you did an MBA or not. So, if you're going to calculate the return on investment or just the cost of the MBA degree, while you have to budget for living expenses, it's not really part of the cost of the MBA because those are expenses you would have in any case, under any circumstances. That's just my own thing, but okay, let's go on. What is the ROI of the NYU Stern part-time MBA program? [2:47]Yeah, so we'v

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