Part 1: making decision for career in business or finance.

My decision to pursue a career in business finance has not been an easy one. Attaining a bachelors degree calls for a lot of sacrifice both material and moral. The major concern in pursuing the course is the high costs incurred in the college level. Over the years, the cost has been increasing substantially thus making a decision to pursue college education a nightmare. Cost of education is rising at an alarming rate as compared to the levels of inflation. For instance, the tuition fee for one academic year is estimated to be $8,240. For a course of four years, the total tuition fee will be estimated at $ 32,960.

Apart from the tuition fee, there are other critical expenses that must be incurred in the learning process. For example, the college education is expected to cost $ 4,500 used in books and other stationeries. There are also learning financial responsibility such as food and accommodation that will lead to increased cost of college education. The total accommodation cost for the four years will be estimated at $ 18, 440.

Summary of expenses incurred in a four year course

Besides the financial considerations, there are also other factors that contributed towards my choice to pursue college education. It is my firm belief that pursuing college education will be paramount to improving my self -worth. Having college education is critical in the modern competitive world where opportunities are only available to people with higher education.  It is also worth noting that there are also social considerations such as family ties and societal benefit or losses resulting from my presence in college. It is also wise understanding that there is foregone income that could be earned if was not in school. It is on this premise that it is critical to take stock on return on investment for the college investment.

Part 2: research on occupation and payback period.

Pursuing a course in higher education is motivated by acquiring a well paying occupation. It is my sincere hope that after completing my course in business, I will get a managerial job in one of the leading institutions. In most cases, people have attributed more money to the people with high educational background. I am anticipating that heading major organizations will have better enumerations that will help reduce the payback period. The college education has been damn expensive and it would be wise to have a portfolio that guarantees me a return on investment that I have been anticipating.  I am hoping to get employed in an organization where my annual income will average at $29,000.

Over the years, it has been asserted that education pays. It is on this premises that it is critical to calculate the payback period. This refers to the amount of time that is expected to recover the amount spent on investment in terms of income. It is always advisable to invest in portfolios that offers shorter payback period since they are said to be low risk portfolio. Payback period is calculated by the formula below;

Payback Period= cost of investment/annual net cash flow

Cost of investment= total college costs= $ 64, 028

Annual net cash flow = annual salary= $ 29,000

Therefore; payback period = 64,028/ 29, 000= 2.2 years

Payback period= 2.2 years.

Also, it is essential calculating the return on investment (ROI). This is an efficiency ratio that measures the amount of return of an investment as compared to the cost of investment. In essence, it is concerned with the benefits resulting from the cost of investment and is expressed as a percentage ratio. After finishing my business course, I am expecting o get annual income of $ 29, 000 thus adding value to me. This added value I will get after my graduation can be classified as the return on investment which is a positive one. It is evident that the costs incurred in my college life are outweighed by the benefits I will get after my graduation. If i had not attended college for four years, maybe I could be somewhere languishing in poverty.  It is my sincere hope that I will get better paying job with other benefits after my graduation.

It is clear that people with college degree have better earnings as compared to those without higher education. Wages have continuously increased by degrees and it is my hope that after working for several years and advancing my career, more income and other benefits will be eminent. To sum it up, investing in college education is a good investment despite the ever increasing tuition fee. The payback period and return on investment is guaranteed.

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