Go Back to School, or Not?
Go Back to School, or Not?
Go Back to School, or Not?
Go Back to School, or Not?
For me, going back to school after twenty years in the workforce was a complicated decision. I didn't need to but at the time I thought it would be, "a good idea."Turns out, I was totally right about that. I was lucky enough to attend a school where what I learned not only had a direct positive impact on my career, but on my life and personal growth as well.
So although it's great to say I have a Masters, it is even better to say I am a Master! And what I mean by that is I am a master of my own life. I have gained tools that help me focus and succeed in work and in play!
But for many people, going back to school is much more about moving up in their careers, upgrading their skills or breaking through barriers. Let's look at the pros and cons and a couple of tips.
SHOW ME THE MONEY
Depending on what school you attend, the degree program you enter and whether you have to attend full-time and support yourself, you can be looking at $10,000 - $100,000 all in! Do the math on the cost/benefit.
PROS
MBAs typically make more than those without the degree. So it's possible to pay yourself back from your additional income over time. Staying at your current job may only offer minimal salary raises so you may have to change companies to get the big pay boost. Especially if you do the same job.
CONS
MFAs, (Fine Arts, as in film school), well let's be kind and while there are no statistics all I will say is that there are a lot of waiters in L.A. with a Master's in film, and some with MBAs too.
TIPS
Get someone else to pay for it. Youremployer often will.Most companies offer tuition reimbursement which may not cover it all but will help. And you can always ask about getting more especially if the course is job-related. I know someone who got an additional $5,000 because her employer took money out of one budget for employee training and put it in her budget for further education. Or work for a college. Tuition is often free or heavily discounted (e.g. if you work for a UC school you can get up to 70 percent off fees).
I DON'T HAVE TIME FOR ALL THIS
Additional schooling almost always require sacrifice.Go to school full time, and work part time? Work full time and go to school full or part time? Are you willing to spend time away from your family, friends and football for film theory or financial accounting?
PROS
Your boss may be willing to give you study time. You can develop great work and time management habits which help you live more effectively.
CONS
Your promotion prospects suffer because of an endless plethora of school papers sapping your energy. Your partner leaves you for someone ten years younger that doesn't live behind a text book. You may be better spending your time making a short film rather than reading about Ingmar Bergman, or better running an e-Bay business rather than studying calculus for a business degree. Simply working harder at your current job and doing more networking may advance your career a lot faster and economically that a $50,000 diploma and a few letters after your name.
THERE ARE NO GUARANTEES
You get the MBA and your employer says "good job" and lays you off in part because you've become more expensive than your peers. You may not make more money, or get promoted more quickly, or be more successful.
PROS
Get a degree because you want to learn - period!Pursue, but don't expect, a shiny new job or more money. That way you won't be disappointed but will be open to whatever comes your way.
CONS
Do the research, and scan job ads, to find out how many successful people in your field have advanced degrees. Talk to recruiters to see what they require from a candidate for your dream job. Ask your employer what it wants from you before giving you that promotion you seek. You will often find that a degree is not one of their Top Ten items.
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