1. Hanyue Yang Applied Research Project

2. Actuary New YorkBoston Year$87,400$73,600 Month$7283.33$6133.33

3. Budget (month) New YorkBoston Living expense (rent apt.) 39821888 Transportation (public) 11270 Utilities (electricity, gas, interest etc.) 288.76255.86

4. New YorkBoston Groceries300252 (16% less) Health insurance (based on my situation) 361.14411.69 Tax398.9315.86

5. New YorkBoston Meal1,080 (18*2*30) 960 (16*2*30) Others (sum of all items in based on expense chart *12 monthes) 722792.82 Gross expense7244.84946.23

6. New York

7. Boston

8. New YorkBoston $38.53$1187.1 Difference of cost and income

9. Boston is a better choice! The two charts strongly support the conclusion. So high salary does not always means higher living standard. Taking actuary for example, Boston seems a better choice although the salary is lower.

10. Job titleSalaries Financial analyst60,521 Senior financial analyst70,184 CFO135,823 MBA Degree

11. Job titleSalaries Marketing director73,542 Marketing director119,826 Operation manager72,518 Finance manager94,196

12. ItemCost Tuition80,000 Boarding and books40,000 Peripheral expenditure20,000 Gross total cost14,000 Average Cost

13. School NameCost Columbia168,307 Wharton168,000 Stanford166,812 Chicago165,190 Dartmouth162,750 Top MBA Cost

14. MBA program seems very costly. However, for most MBA programs, over 50% of students get financial aid, so it makes the cost more reasonable. To pursue a higher position, MBA is a really good choice, especially after working for 3-4 years. Conclusion