If someone gets a BS in say Computer Science, they now have a choice to go to grad school for 1-3 years to get a Master's or go straight into the industry. Which path gives them more lifetime earnings?
Scenario A: Bachelor's only
1st year after graduation: $70,000
2nd year after graduation: $72,000
3rd year: $74,000
4th year: $76,000
5th year: $78,000
6th year: $80,000
7th year: $82,000
8th year: $84,000
9th year: $86,000
10th year: $88,000
This is assuming that there is a constant increase each year for both paths.
By induction, the person with the bachelor's degree only will be making more.
I'm not money hungry or anything, but I would like to know what you guys think.
Do people with a master's get promoted to managers more easily than someone with just a bachelor's, thus getting 100K+ instantly?