rjose
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rjose got a reaction from katiemk1230 in Fall 2012 Applications
Just read this interesting article in the NYTimes and thought I should share:
The master’s in social work has become “absolutely essential” to advance in the profession, says Jacqueline B. Mondros, dean of Hunter College’s School of Social Work, of the City University of New York. Ninety percent of the members of the National Association of Social Workers, the field’s largest professional organization, have an M.S.W. But the return on investment won’t tempt. For social workers with the advanced degree, the median salary in 2009 was $55,000, according to the group’s research. Social workers with a B.A. earned $15,000 less, while Ph.D.’s added $17,000 to their median pay.
And the investment? Students seeking an M.S.W. borrow an average $35,500; a degree can cost about $20,000 at Hunter or $80,000 at Columbia. By comparison, their M.B.A. counterparts borrow on average $32,000, and more M.S.W. candidates borrow (three-quarters of them; half of M.B.A. students borrow).
The rule of thumb for borrowing, says Mark Kantrowitz, publisher of finaid.org, is that debt should never exceed starting salary. Ideally, he adds, it should be half that.
“I’d be the last person to say not to pursue a dream,” Mr. Kantrowitz says. “But do it with your eyes open.”
Taken from: http://www.nytimes.com/2011/07/24/education/edlife/edl-24roi-t.html?pagewanted=all
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rjose got a reaction from MissH in Fall 2012 Applications
Just read this interesting article in the NYTimes and thought I should share:
The master’s in social work has become “absolutely essential” to advance in the profession, says Jacqueline B. Mondros, dean of Hunter College’s School of Social Work, of the City University of New York. Ninety percent of the members of the National Association of Social Workers, the field’s largest professional organization, have an M.S.W. But the return on investment won’t tempt. For social workers with the advanced degree, the median salary in 2009 was $55,000, according to the group’s research. Social workers with a B.A. earned $15,000 less, while Ph.D.’s added $17,000 to their median pay.
And the investment? Students seeking an M.S.W. borrow an average $35,500; a degree can cost about $20,000 at Hunter or $80,000 at Columbia. By comparison, their M.B.A. counterparts borrow on average $32,000, and more M.S.W. candidates borrow (three-quarters of them; half of M.B.A. students borrow).
The rule of thumb for borrowing, says Mark Kantrowitz, publisher of finaid.org, is that debt should never exceed starting salary. Ideally, he adds, it should be half that.
“I’d be the last person to say not to pursue a dream,” Mr. Kantrowitz says. “But do it with your eyes open.”
Taken from: http://www.nytimes.com/2011/07/24/education/edlife/edl-24roi-t.html?pagewanted=all