6. Discuss the impact that initial salary and growth rates have on the analysis. When looking at all three scenarios (No Degree, Program A, or Program B) from a base compensation and growth rate perspective, it becomes evident that in any scenario, receiving a degree will drastically change her overall benefits structure in the long run. When looking strictly at her Net Income received at the end of each year (Post Tax), "No Degree" compared to "Program A/Program B," illustrates the significance that the degrees play for the initial salary with their respective growth rates. Even at a higher tax bracket, starting a job after "Program A or Program B" will result in Ann surpassing her "No Degree" Net Income mark in Year 2 for both programs. In order to match the salary amount under the "No Degree," Ann would have to be in Years 6.5 & 5, respectively. Further, if we were to compare the salary at Year 2 to the salary provided by "Program A or Program B," we will see an increase in of 30.98% and 21.06% (20.19% if comparing Year 1), respectively. Hence, the growth rates indicate that Ann would be better off pursuing a Master's degree and accepting either job after graduation. **See Excel Workbook**