<p>I've applied for the Master of Engineering in Energy Systems Engineering at UMich (Ann Arbor), as they only give 10 days to decide whether I want to accept or deny the offer, I think I should already start asking.</p>
<p>pros:
+ I believe the issues pertaining to energy are the next big thing, so I prefer this to even an MBA.
+ it is a multidisciplinary program and the balance between technological, economics, and management courses are incredible. I don't want to pursue and engineering career for the rest of my life (my BS is in Mechanical Engineering)
+ UMich is too active in the fields related to energy, it's almost ridiculous.
+ connections with both industry and alumni seem very strong, good for finding a position after graduating?
+ has a chance of participating in a three month internship at General Motors, DTE energy, etc
+ it's only 1 year
+ UMich reputation is very good in general?</p>
<p>cons:
- it costs 70,000$.
- will I really learn anything from enrolling in 10 courses in 1 year? actually it's 8 courses, a seminar and a project and a maybe internship.</p>
<p>too be honest I wouldn't have minded spending 70,000$ if it wasn't for my second concern. Will I really get anything substantial out of a 1 year program? </p>
<p>am I getting overexcited or is the program worth the cost?</p>
<p>well, I am not going to borrow it, I just have to sell a little shop (that’s what I’m really going to do), and the shop status isn’t really good, so I don’t mind selling. but I don’t have to spend the money on something else which won’t pay off either.</p>
<p>I forgot to say, I intend to find a job either in US (the location doesn’t really matter) or in Canada.</p>
<p>$70,000 per year is outrageous. I take it that Michigan does not have funding for you. Have you been accepted to any cheaper schools? To speak the truth, I wouldn’t care to spend that amount even if it were at Stanford. I second polarscribe’s opinion - no way.</p>
<p>What is the likelihood that you will get a job after graduation? What is the starting salary? </p>
<p>I can tell you, law school students who get into top law, do not worry that the programs cost upwards of $140,000. But they also either get into generous loan repayment programs after they graduate, or go into corporate law which starts at $160,000 straight out of school. So really its all relative. You need to consider the debt / income ratio.</p>
<p>You also need to consider how likely you are to burn-out in a high-paying field. It happens to the majority of people which is exactly what happens in Ibanking and Corporate Law.
While your gross income might be high (for a couple years), I would be curious to see what someone’s net income (savings after accounting for cost of living in the area) really looks like.</p>
<p>I think I’m just going to deny it or at most save it as a back, although I really like the program, and UMich as well, it actually seems to be outrageous.</p>
<p>and about salary, I think after graduation it average is around 70,000$ and quickly rises to above 120,000 as they are mostly management and finance positions. but if you could secure a good position, there’s actually no limit as the positions are mostly offered buy kinds of British Petroleum, GM, etc. but as Polo Xdarth said, I am not sure whether I can find a job like this and even if I find, how long I’m going to survive.</p>
<p>Realize borrowing $70,000 to be paid back over 10 years factor out to a monthly payment of about $800.</p>
<p>So if you can find a job where you salary increase is at least $1,000 per month more (taking taxes into account) than it would be without the degree, than it would be worth it.</p>
<p>But you still have to factor in the loss of income of the next year, say $50,000. Spread that loss over 10 years and you are looking at having to make at least $1,500 more per month to balance out the cost of getting the MS.</p>
<p>You guys also forgetting the new programs like IBR, as long as the OP sticks to federal stafford loans he should be eligible for IBR. There are positives and negatives to IBR, but it can most certainly help manage monthly payments and will forgive any left over balance after 25 years.</p>
<p>I’ve not received any funding or loan (it didn’t have one to being with), but I think it is worth it. was checking the professors, and the second person I checked turned out to be CEO of BP in 90s. I liked that (among many other things)</p>
<p>I’ll share my experiences after being enrolled. Let’s see what the future holds</p>
<p>I`ll be joining the ESE program at Umich in the fall too. Looking forward to it!</p>
<p>I didnt know it was a 1 year course, it isnt mentioned anywhere and 30 credits are required for graduation. How many credits do people normally take up during a semester?</p>