In the first lecture of Cost Accounting, our class discussed the cost of obtaining and providing an MBA. This was a very interesting discussion, as most think of the typical direct costs of obtaining an MBA, such as tuition, fees, and books. But as a class, we came up with other “costs”, most which fall under the opportunity cost side. Among the best class answers were lost sleep and stress-related health sacrifices. Time was another huge cost, but is expected with any higher education program. The costs of providing an MBA from the perspective of Fisher? The most surprising cost to me was the remodeling/maintenance of the Main Library. The cost of the reduced RPAC fees- that’s right, even though we pay a quarterly rate- it is part of the cost of providing an MBA. You might want to think twice about not using that beautiful facility, because you are basically paying for it twice. Most easy to recognize direct costs for providing an MBA were buildings, faculty salary, and administrative costs.
The best part is knowing that The Fisher College of Business is ranked 8th nationally in Return on Investment. Regardless of the cost of obtaining your MBA, there is an excellent chance that you will recoup the money that you spent. So next time you are losing sleep and stressing over all the lost time you have spent studying at the Main Library for that final exam, take a break and head to the RPAC. After all, not only did you pay for it, but it might just help to relieve your stress. According to the Mayo Clinic, exercise has some direct stress-busting benefits.