My Sacrifices for Attending Business School

by Mark Wong on January 25, 2011 · 2 comments

in Admissions, Career

I got my W-2 form today, as my company usually sends it a bit early.  Now, I have friends that blow me out of the water, but I definitely make a decent salary at my current job – at least compared to the averages for people my age.  Looking over my W-2 gave me a very good summary of everything I’d be giving up for two years, if I really wanted to go get my MBA.

My Salary – this one hurts even more considering that I got a raise the beginning of this year.  Even with the recession and a job loss, I’ve been able to increase my annual income every single year.

My 401(K) Contributions – no more tax-deferred income.  If I get into business school, I think I might raise my contribution level towards the end of my tenure.

My Health Benefits – for someone with health problems, this is definitely a big deal.  Even with the great health benefits I get at my company, I still ended up spending thousands of dollars on my health expenses last year and can only hope the group plan offered by the school is decent.

My Flexible Spending Account – part of my health benefits, but essentially allows me to pay for healthcare related expenses tax free.

My Gym Membership – my company pays for my membership at a fairly high end gym.  Too bad I barely got to use it in the last six months.  🙂

My Phone Bill Payments – this didn’t actually show up on my W-2, but I’m on the company’s phone plan.  If I say goodbye to my company, I get to say hello to a $100 a month phone bill courtesy of AT&T.

This is definitely a lot to give up, considering that I like my current job, have decent hours, and a 15-minute commute to work.  But in all honesty, I’ve already made my decision.  If I get into one of my top schools, these “perks” will have to go.  I’m making a long term investment in my career.  I want to feel inspired, as if the world is full of opportunities and anything is possible.  I truly do want to become a student again.

{ 1 comment… read it below or add one }

richard battle-baxterNo Gravatar January 27, 2011 at 3:51 am

lolol I saw my W-2 form and said “God I can’t wait until I get my internship!!!” Cuz even THAT will be a nice departure from what things are like now! 😉 I’m sure post b-school you’ll be loving life though!

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