 Applied Research Project Patrick Lydon

Which Job Should I Take (Finance Major)?  Entry level Financial Analyst in Boston, MA  Salary: $51,000  Entry level Financial Analyst in Charlotte, NC  Salary: $43,000

Boston Average Living Expense (Monthly)  Average Rent for One Bedroom Apartment : $1,800  Monthly Grocery Budget: $325  Utilities: $75  Television and Internet: $50  Transportation: $75 Subway Pass (Owning a Car is Impractical)  Health Insurance: $250  State Income Tax: 5.15%

How Does This Break-Down?  Monthly Income: $4,250  Subtract Income Tax: $  Subtract Cost of Living Expenses: $2,575  Total Usable Income After Expenses in Boston: $1,456.12

Charlotte Average Living Expense (Monthly)  Average Rent for One Bedroom Apartment: $1000  Monthly Grocery Budget: $300  Utilities: $115  Television and Internet: $45  Transportation: $79 Subway Pass (Stay Consistent with Boston)  Health Insurance: $ 245  State Income Tax: 5.75%

How Does This Break-Down?  Monthly Income: $3,  Subtract Income Tax: $  Subtract Cost of Living Expenses: $ 1,784  Total Usable Income after Expenses in Charlotte: $1,593.29

Factors Leading to Decision Boston  Personal Affinity for the City  Less Usable Income  Higher cost of Living (28% more nationally)  NACE Salary $49,070 (Starting Pay is slightly more)  More Dangerous living in Boston Charlotte  Greater cultural and social scene  More Usable Income  Low Cost of Living compared to other cities (96 index according to Area Vibes)  NACE Salary: $46,090 (Starting Pay is slightly less)  Safer City

My Choice is…BOSTON

 Graduate School Possibilities

Graduate School and Finance Majors  Graduate Schools in the greater Boston Area that offer Finance Programs: Boston College, Northeastern, University of Massachusetts Boston, Bentley University and Boston University  Boston College MBA Program: $22,760 per Semester  Northeastern MBA Program: $63,236  Bentley University: $4,065 per Credit  UMass Boston: $15,557 per Semester  Boston University: $47,422 (Full Program)

Graduate School Impact on Financial Analyst  According to NACE the average entry level Financial Analyst position across the country is $47,000 a year  With a graduate school degree the entry level salary is expected to increase by as much as $28,000 a year

Related Career Paths  Financial Advisor (32% of workers in the field have graduate experience and experience is encouraged)  Brokerage Clerk (Graduate School is not Required)  Sales Agent (22% of workers in the field have graduate experience)  Securities and Commodities Traders (Graduate School is not highly necessary)  Accountants (Graduate School is highly suggested for higher paying jobs such as CPAs over 60% of workers in field have graduate experience)

Pros of Graduate School  Graduate school offers people in the financial sector nearly $20,000 in salary boosts compared to those with only Bachelor degrees  Although expensive, graduate school offers greater flexibility and possibility in garnering higher paying jobs and progressing up the corporate ladder

Conclusions from Applied Research  I have learned invaluable information regarding financial planning. Although Boston is not my final choice for possible living places in the future I have gained the skills to do similar research moving forward.  While Graduate school is expensive the benefits both from a monetary perspective and a satisfactory perspective make the initial investment worthwhile.  Graduate school will allow me to pursue higher level jobs and greater monetary success in the future.  My plan of action now is to look further into graduate school options and began to plan for possible applications to graduate schools inn the future.