Return on Investment : Education Funding - Research Paper Example

Return on Investment - Education Funding 20th May Return on Investment- Education Funding Introduction My aim in this present research paper is to discuss extensively the expected return on my investment of pursuing a course in Business Administration. First, I will discuss the factors I considered when enrolling for course in Business Administration. Second, I will address the issue of the expenses related to the course. Finally, the essay will discuss the expected returns after completion of the course in terms of employment opportunity.

To being with, it is of essence to note that Jackson and Mathis (2010) stated that Business Administration is a study on the process of managing a business or a non-profit organization so that it remains stable and continues to grow. Factors that led to my decision to pursue Business Administration My decision to pursue a course in Business Administration was based on my analysis of various factors that included my high school grades, current market demands, my personal interest, and capabilities, the cost of the course and the duration of the course.

The most determining factor was my personal interest and capabilities. Over the past years, I have developed interest in the business community and of particular the chief executives officers of the blue chip companies in Wall Street because of their managerial skills. Examples of inspiring CEO include the late CEO of Apple Steve Jobs, former CEO of General Motors Mr. Jack Welch, the current CEO of Apple Inc Tim Cook, and the Yahoo CEO Ms. Marrisa Mayer, who all have excellent managerial skills.

Based on the inspirations I knew that it was only through the study of Business Administration that I would equip myself with the necessary skills and knowledge that would enable me work in such roles once in my life. Additionally, the grade that I attained in high school also influenced my decision to enrol for the course, as I was eligible to undertake an undergraduate course in Business Administration. Another notable factor that I considered before enrolling was the current market demand in terms of skills and knowledge.

I noted that there was an upsurge of many private companies in the market and I concluded that all these institutions are in search of brilliant young leaders who will give then a niche in the competitive market. To suffice to my decision I had also to consider funds at my disposal and the cost and duration of the course. This consideration was important because I could only enrol for the course if I could afford it or had other sources of funding such as education loans. The summary expenses for the course The total expenses that I would incur in taking the course included the following: cost of tuition, cost of books and supplies, cost of housing, food cost, transportation cost, and other expenses such as entertainment expenses.

However, the cost of books used per semester and cost of food may not be definite or readily ascertained as compared to the tuition fee. The table below gives the summary of the expenses that I am bound to incur as I undertake the entire course during the four years period. Type of expense Total cost for the entire course in dollars in Dollars Cost of tuition 41,072 Housing cost 21,600 Food cost 13,440 Transportation 1,800 Cost of books and supplies 4,000 Other cost 2,800 Total cost 84,712 Compensation For my research purposes, I chose the position of a Human Resources manager.

According to the National salary data 2013, the annual salary of a HR manager in the United States is approximately $65,384.50, which is exclusive of any allowances offered. Nevertheless, Kaufman (2012) stated that the allowances and benefits offered by major companies will vary from one to another. Kaufman (2012) further added that the allowances of the same job title might also differ within an organization depending on the negotiation skills of the employee. Based on my negotiation skills, business acumen and the industry average, I approximated my total allowances may sum up to $16,740 annually.

The duration of the return on the investment The duration of the return on the education investment will be determined by the rewards of my job as a Human Resources manager. Based on my research, with the position of a Human Resource manager, I computed my gross salary exclusive of any increment, which amounted to $82,124.50. At the end of the four year, I will have spent a total of $ 84 712 to obtain my degree. Thus, the duration in years that it will take to get my returns will be obtained by dividing the total expenses of the degree program, with the gross salary.

Therefore, it will take me approximately of one year and two months to pay back the return on my education investment. According to Kretovics (2010), at the end of one year as HR manager, any income from my profession will be regarded as rewards of my education investment and which I will continue to enjoy as long as I continue to apply my skills and knowledge gained from studying Business Administration. It is also worth noting that some of the rewards of studying Business Administration may not be quantified with monetary values.

For example, leadership skills gained from business administration will be useful when handling community issues. However, it is unlikely that I will immediately complete my undergraduate and be appointed for the position of a manager, but there will exist a period through which I will gain experience and rise the career ladder. References Jackso, J., & Mathis, R. (2010). Human resource management. U.S. South-Western Cengage Learning. Kaufman, J. (2012). The personal MBA: Master the art of business. U.S.

Portfolio Trade. Kretovics, M. (2010). Business practices in higher education: A guide for today's administrators. UK: Routledge Publishers.