Let’s talk money and an MBA
You’ve heard the saying before – money doesn’t grow on trees…or does it? If you’re considering an MBA, you can find money growing from the piece of paper you receive when you complete the program – your diploma.
And don’t just take it from us. The United States Bureau of Labor Statistics shows that higher education pays (a lot) higher. According to Bureau of Labor Statistics data from 2018, people with professional degrees have median usual weekly earnings of $1,884, compared to $1,198 for people with just a bachelor’s degree, and even higher than the $1,825 median usual weekly earnings for people with doctoral degrees.
Ok, so now that we’ve shown you that learning more leads to earning more, we know the next question you have – how much is an MBA going to cost me? We admit – it’s a pretty penny and saving up for your degree won’t just involve giving up your daily latte. An MBA from the University of Florida will run you between about $18,000 to $67,000, depending on the program you choose.
Don’t worry too much, though. We have a goldmine of good news to share. First, an MBA from the University of Florida is consistently ranked as one of the best in terms of program cost and return on investment.
When compared with other states across the nation, attending college in Florida is significantly cheaper, according to research from The College Board. In fact, it’s the second lowest in the United States behind Wyoming. In an effort to further ease the burden of high tuition costs, the state of Florida also introduced legislation that capped tuition costs in 2014.
When it comes to how much you’ll get out of your MBA investment, the University of Florida is among your best options. U.S. News & World Report has named UF MBA one of the top 5 MBA programs with the highest ROI for graduates earning $100,000+ for the past two years. With a salary-to-debt ratio of 3.4-to-1, UF MBA has the fourth highest ROI among 10 top-ranked public MBA programs.
In 2019, the Financial Times ranked UF MBA as the No. 1 program for Value for Money in the world and, in 2018, named it the school with the highest salary percentage increase among all ranked programs. U.S. News & World Report also noted UF MBA as the program with the highest increase in average pay from 2013-2017, with 38 percent growth in average pay.
The second bit of good news is that, depending on the program you choose, you can either get a 100 percent full-tuition scholarship or get your employer to pay for your MBA.
If you’re interested in transforming your career, you might consider the UF MBA Full-Time program, in which you can get 100 percent of your tuition paid for through a scholarship.
Take it from UF MBA Full-Time alumna and 100 percent tuition scholarship recipient Alexa Esquivel:
“Coming from three years of work experience in New York, I struggled to wrap my head around how I would afford an MBA program up north,” Esquivel (MBA ’19) said. “I wanted to find the balance between a great education and full-time program without needing to take out loans. If it wasn’t for the scholarship, I probably would have had to work full-time while enrolling in a part-time program, which would have been a completely different experience for me.
“The full-time program has allowed me to meet classmates who challenge me every day to grow and achieve more.”
If you’d prefer to keep the job you already have, but are eyeing a promotion, the UF MBA Weekend Professional, Online or Executive programs could be a better fit. For the majority of these programs, many employers will outright or partially pay for your degree. All you have to do is convince them why they should. Check out our five tips for how to get your employer to pay for your MBA.
We know the decision to pursue your MBA is a big one and that cost is a major factor. If you have specific questions about the price of a UF MBA, we encourage you to reach out to our Admissions Team.
