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My advice would be to do a NPV analysis first, which you are, so that is good. Then figure out how much incremental money you'd have to make per year for the rest of your working career to ever make a profit on the deal.
Then ask: "Would I make that money anyway if I had two more years experience under my belt?"
$200K down (plus interest) is a tough hole to dig out of, but if the answer is "Yes, the incremental income will get me out of the hole and I'll have more in the bank at the end of the day than if I had slugged it out with two more years experience." then go for it. If not, then don't.
The other factor is that a lot of people get an MBA so they can change the career path to a different industry. Tough to place a value on that.
Yes, I have an MBA and I am still juggling these variables myself. Hindsight is not necessarily 20/20.
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1967 R50/2
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