“Cash cow” seems to hint at a negative connotation, as though the program is not reputable, or lacking in rigor. Duke engineering is rated #22 according to USNWR. This student will be doing an ABET accredited engineering program at the #10 research university in the country.
Many graduate students will sacrifice earnings while completing advanced degrees. Engineering is generally viewed as a good way to make a living. It is likely he will earn his money back and then some.
This.
Can we move on from topics which I, in my infinite wisdom and discretion, have determined to be OT? IOW, I won’t be entertaining follow-up questions. But a non-evaluative list of topics to move on from include: UK universities, law schools, MBA programs, definitions.
Top engineering programs admit the best students they can. Period. Most engineering programs have a lot of foreign students because they also capable of doing the work and are interested. Not everyone can, or wants to, pursue even more challenging work in this field. I would read little into this. My employer hires out of this pool, and Americans and women are both tough to find within their weird little engineering subspecialty niche.
OP, you will have a leg up on everyone who doesn’t need a visa to work. There are also a number of companies in the research triangle specifically because there are schools with excellent engineering programs there.
From what I know from friends and colleagues, programs differ in their emphasis and specialties. Just make sure that coursework and mentorship align with your interest. It sounds like it does.
OP: Will the total cost of your program be in the range of $140,000 to $150,000 for the 3 semesters ? (According to Duke’s website, the next academic year will cost you bout $93,000 plus at least one additional semester which is expected to cost about 4% more than the current tuition rate,)
Do you plan to fund this degree from your savings or from student loans or both ?
If you plan to borrow a significant amount, then you really need to have a post degree plan for employment that will justify such a large investment of time money and lost income.
Your total costs of attendance are will be about $150,000 plus loss of income for 3 semesters. I will estimate your current income at a conservative amount of $78,000 per year. If you forego a year and a half of income, that will add almost $120,000 to your investment for cost-of-attendance. Based on these figures, your total investment in the Duke ME masters degree program will be about $270,000.
OP: You should evaluate whether the likely return to you will justify such an investment of time & money–especially if you will be taking out any student loans to fund this educational experience.
Most of the other programs do state first year earnings of about $85,000. My best guess is that if you remain at your current position, that you will see no (zero) increase in your earnings assuming that you are currently earning about $78,000 per year–which may be a low estimate–and receive modest salary raises.
P.S. The yield rate over the past four admissions cycles is low which suggests that most admitted to the ME masters degree program at Duke decided that it was not a wise investment of time and money. Last admissions cycle only 7 of 85 admitted students elected to attend. That is a very low yield rate of just 8.24%. The prior years yield rates were 15.46%, 5.26%, and 11.18%.
Ask why so few elected to matriculate in this Duke ME masters degree program after going through the application process ?
In short, you need to discuss likely and past actual job placement and starting salaries in order to determine whether or not this would be a reasonable investment of your time & money.
So online it says the total cost for all 3 semesters would be around 95k at most for tuition (30k per semester). Rent I have covered and other day to day expenses as I will be working part time as well.
Fortunately, My parents are helping pay for this and so that’s why I said I’d have at most ~40k in loans which I should be able to pay off quickly if I can get a decent engineering job in tech.
And I don’t know much about yield rates but I generally thought professional masters programs have lower yields since they’re unfunded and cost a lot or other reasons like visa, applying to better programs etc. I looked more at the data and it was for the entire MEMS department, maybe that included materials science too? I’m not sure. But the data from 2013-2014 had a much much lower selectivity and much higher yield than the years after so it WAS selective/high yield at some point? I’m not sure why that would change.
But to the main point of the discussion; would this really deter me from getting a high paying salary job in another field? Wouldn’t people look at the Duke name and the networking and hard coursework and give me a chance? I can take it from there, after all my entire point of doing masters was to switch my career and earn a higher salary and differentiate myself from peers applying. And what about the average GPA and GRE scores being really high? Doesn’t that mean something?
I can’t find the yield/selectivity for similar professional masters programs like UPenn for example to compare
Again, every person but one in this thread is telling you to go for it. If you get a master’s at Duke AND WORK HARD, you will do well. Go for it!
@Publisher 's approach considers the alternative to Duke as no degree. That is indeed an alternative and the only sure option the OP has. For many people considering an advanced degree, especially if they are doing it for higher pay, this is indeed a great analytical approach to that decision. But the OP needs a degree to shift his career trajectory, so there is no way to “there” from “here” without this degree, if I understand correctly.
The alternative OP was considering is a degree from a school to which he has not been admitted and may not be admitted. In that context, this is an especially good option.
In addition the Masters will allow the OP to pivot from a career path he/she isn’t enjoying to a path he/she truly wants to pursue. That in and of itself is priceless.
What one learns/accomplishes will be the most important factor in a long-term career trajectory.
I suggest @true_boysenberry contacts the program directly and asks about any concerns.
Go to the horse’s mouth and don’t rely on hearsay, “hints”, “suggestions”, or “cautions” from a poster who has freely admitted that they
You can find pros and cons to almost anything. If your deposit is due imminently, it might be best to secure your place before possibly missing out on the opportunity of a lifetime.
Is it possible OP that the idea of of change is somehow inhibiting your decision making process? Make a list of pros and cons after you have spoken to Duke. Base your decisions on facts and your reality.
The Duke website that you referenced above showed the cost of attendance for the first two semesters and mentioned that masters degree candidates are expected to spend at least 3 semesters on campus at Duke. It went on to note that increased costs beyond Fall 2023 and Spring 2024 usually increase by no more than 4%.
The tuition cost of approximately $95,000 for three semesters is only a portion of the overall COA (cost-of-attendance) as room & board, books, travel, and miscellaneous expenses are not included.
The yield data from 2013-2014 was higher as many were sitting out a sluggish economy. Graduate programs and professional programs see surges in student interest during recessionary times.
What type of salary do you expect after finishing the Duke ME degree program ?
Regarding your question to me about the Duke name and job placement, you need to get this information from the Duke University ME department as it is not readily available in terms of actual salaries/compensation in order to fully evaluate your options.
Additionally, I do not know your current salary/compensation. I guessed at $78,000 to $85,000, but you may be earning less and, therefore, the possibility of starting in the $80s may be a compelling reason for your interest in switching fields.
P.S. Also, if your rent is covered by living at home rent free for the duration of the masters degree program, then the cost burden is greatly reduced.
OP: Only you know what your actual costs including opportunity costs will be.
While I think cost benefit analysis is helpful when considering grad school, trying to do a career shift won’t be possible for this OP without the masters degree. IMO, the engineering masters degrees are not the “cash cow” type of programs referenced by Publisher. They are rigorous and challenging, and Duke’s program will get this OP to where they want to be.
OP - I wouldn’t wait and try to reapply next year. Duke is a great school. Don’t second guess yourself. You need this degree to pivot your career. Go for it and don’t look back!
Well with the high selectivity/low yield thing now I feel like I didn’t earn much…could be my anxiety talking so I will definitely talk to Duke.
I spoke to my academic advisor earlier this year and told him of the types of jobs I want to get after college and he said people totally end up going into those roles which is why I was so deadset on accepting this program. I didn’t ask about salary though so that’s why I was confused
This OP has made a decision to move along. The options are Duke where he has an acceptance. It’s an excellent college with an excellent reputation. And he has that acceptance in hand.
The only other option is to apply to other colleges in the future, and risk not being accepted at all.
I’m not sure why one poster on this thread is disparaging Duke. But I’ll put in a vote of confidence for Duke.
Even IF the OPs first job out of grad school isn’t ideal…the OP will be on his/her desired career path and can befin to work towards that perfect job.
At this point does the OP have all the information needed to make a decision? Seems to me that everyone on and off of CC with one exception is offering the same advice.
Again, IMO an acceptance to a Top 25 program in one’s desired area of study at a very well respected university that is affordable and doesn’t require a GRE (this cycle) seems like a huge win.
The likely scenario is that extremely well qualified people are applying in the first place. Duke likely has many great applicants to choose from. Those people may have other offers, and maybe that’s why the yield is “low.”
Those people might have started with very high GRE scores. You just don’t know other peoples’ situations. But you know your situation and that’s what you need to work with.
So room+board/other expenses mentioned like cost of travel is taken care of so no worries.
I am currently making 88k + 7.5% year end bonus.
But I also have 3 years experience under my belt which I think most people applying to the program do not so that’s why I’m expecting a salary increase as well.
Ideally I would like ~120K but I know I have to work hard for that. Can’t I also leverage my 3 years of experience to get there too though.
Again what about the high GPA average? And low yield for the possible reasons I mentioned?
Again IMO you are overthinking. Duke can give you the tools you need to pursue the career you want.
Call the department at Duke and ask them for their first destination survey results. They will be able to share salary data and the top employers. No point in guessing when they have that information.