algebra.
my brother got a B.S. in chemical engineering, starting salary offers started around $65,000
applies to unc chapel hill analytical chem program (#1 in nation) and gets in.
takes 5(ish) years to complete program.
tuition is paid by the university, he recieves a stipend to cover cost of living. (net 0 dollars)
starting salary offers for phd's in analytical chem in his situation start around 6 figures.
so his opportunity cost of attending shool is 65,000 x 5, 325,000.
say he works for 30 years, say his pay on average is around 25,000 better than his salary with just a B.S.
30x25,000 = 750,000
so, he gains :
425,000$ dollars more net earnings (that's conservative)
5 more years of college, which he prefers over starting at some entry level job in manufacturing
the ability to choose a very specific field he is interested in (process design), instead of being pushed into manufacturing like 75% of people with cheme degrees are.
makes sense to me :
my brother got a B.S. in chemical engineering, starting salary offers started around $65,000
applies to unc chapel hill analytical chem program (#1 in nation) and gets in.
takes 5(ish) years to complete program.
tuition is paid by the university, he recieves a stipend to cover cost of living. (net 0 dollars)
starting salary offers for phd's in analytical chem in his situation start around 6 figures.
so his opportunity cost of attending shool is 65,000 x 5, 325,000.
say he works for 30 years, say his pay on average is around 25,000 better than his salary with just a B.S.
30x25,000 = 750,000
so, he gains :
425,000$ dollars more net earnings (that's conservative)
5 more years of college, which he prefers over starting at some entry level job in manufacturing
the ability to choose a very specific field he is interested in (process design), instead of being pushed into manufacturing like 75% of people with cheme degrees are.
makes sense to me :
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