Hackamack, Lawrence C. (Lawrence Carroll), 1921-||Novak, Ralph S.
M.S. (Master of Science)
Department of Management and Finance
Executive ability||Higher education
Purpose of the Study. The following cost factors may influence an individual's decision as to whether or not to go on for an advanced degree: A. The ever-increasing cost of higher education stops many from pursuing advanced degrees. B. Lowering of the number of productive years due to the fact that: 1. Most male students are faced with a military obligation which may take from six months to four years away from his top earnings. 2. There is a trend in our country to enforce an ever-lowering, compulsory retirement age at many levels of employment. Part B is especially important in that it emphasizes the time squeeze facing many individuals. Every year spent outside the working situation represents the loss of one year's top earning potential. The person contemplating advanced studies will, therefore, have to match the cost factors listed above against the possible economic value of such a degree in terms of job placement, advancement, and starting salary. The purpose of this study, therefore, was an attempt to determine what economic value personnel men in the utilities field attach to a master's degree, per se., in the placement and promotion of management personnel in an effort to aid or assist the individual contemplating advanced studies to make a better decision in light of his respective situation. Summary and Conclusions. The study indicated that less than a majority of the respondents attach any differential economic value to a master’s degree. The study also indicated that this differential was short-lived in that the companies, for the most part, tended to use the degree merely as a selection factor during initial job placement. Therefore, the true value of a master’s degree appears to lie not in the economic value of the degree, per se., but rather, in the intrinsic values associated with such a degree. The real problem, therefore, is for each individual to determine the mini-max point in his education where he feels that he is adequately prepared to enter the business world.
Borchardt, Paul, "An analysis of the differential economic value that personnel men in the utilities field attach to a master's degree in the placement and promotion of management personnel" (1963). Graduate Research Theses & Dissertations. 1123.
x, 84 pages
Northern Illinois University
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