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6:18 pm November 11, 2011
| jpcuba
| | Davis, CA | |
| New Member | posts 2 |
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Hello everyone it's a pleasure to be here and I thank everyone in advance for their replies.
My question is, is it better for me to find a job and then go to grad-school or to try to go directly to grad school? My financial sense tells me the later option is almost complete suicide :P because without direct experience in the field why would I invest money and time, 2 or 3 years for an MA or JD.
So this is my situation I'm a 23 year old undergraduate student at UC Davis. My wife and I both have "personal enrichment" majors. I hear this term being used more and more to describe my majors, political science and sociology, and my wife's, psychology major. After some "research" we found that social sciences are basically worth less in the job market.
The last couple of job fairs we have attended made us realize that all that matters is if you are a business/econ/account major, engineering major, bio/chem major, or anything else. The last category, ours, is paid less and we have the worst prospects of advancing financially in that field. Based on this I was thinking about staying in school for 6 more months and take some accounting and finance classes, take some internships in business , and all of this only to try to have a better angle when looking for a job in the finance sector.
We are at a major turning point in our lives where we have to decide whether to do a complete 180 on our career paths, based on the salary and the cost benefit analysis of staying in our academic path. For example she got severely disappointed when we saw that clinical psychologist might earn as much as someone working as an accountant or auditor. I had the same feeling, I had a big calling to work in the government but I couldn't rationalize getting payed about 40% less than a job in finances.
Can you please tell me if I'm being delirious in my analysis? is there an angle that I'm not seeing?
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7:08 pm November 11, 2011
| The College Investor
| | San Diego, CA | |
| Admin
| posts 1935 |
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First, do what makes you happy. Have you interned or volunteered in the fields you are interested in? If you like it, do it. If you don't, think about changing into something you really want to do.
I was a political science major, worked in retail, led a large team, then went to get my MBA, and am very thankful for what I have now financially and I love what I do. It really depends on finding something you like enough to want to do it for 40+ hours a week and not get burned out on.
As for the graduate school question – get some work experience under your belt first. It will be much more value added if you can actually relate what is being taught to real world situations.
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6:28 am November 12, 2011
| Shannyn @FrugalBeautiful.com
| | Chicago, IL | |
| Member | posts 261 |
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As a graduate student in sociology right now (and who has friends who are in graduate school receiving advanced degrees in various fields) I'd say it's a mixed bag as to what ROI you'll get from graduate school. Competition is fierce- exams, application requirements and the expense of applying to at least 6-13 school (depending on your field) can easily run you $500-$2500 (if you decide to do a prep course or take your required exams more than once).
Personally, I went to graduate school to get my MA with the idea I'd stay for my Ph.D. after 3 months at my university the idea am still not sure if the MA was worth the time or expense.
For you I'd encourage you to diversify your skills and experience. Take those finance classes, read lots of books on various classes, so some self-taught learning and get something cool to put on your resume that doesn't cost you $30k like a graduate degree (unless you're in a Ph.D. program funding is stupidly scarce). Don't ask universities and professors what they think they will always encourage you to get more schooling- ask other students who have done what you want to and that's the best advice I have!
I always cringe when people say they want an advanced degree and they don't have a CLEAR objective (like a specific job or company that requires it for employment or advancement) since it may or may not even be necessary or advantageous. Until you have a better idea of what you want to do, I wouldn't invest the insane amount of time and money it takes to get into a "good" school for another degree.
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9:47 am November 13, 2011
| thejennypincher
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For what it's worth, it took me 10 years after college to figure out what I wanted to do and that came after having several jobs and finding out what I DON'T want to do.
I think if business classes interest you, then it might not be a bad idea to take the classes. But if you have no interest, it will probably be a waste of your time and money.
I waited about 6 years after graduating college to get my MBA. I don't regret it because it looks nice on the resume but I'm not sure how much it's really helped me get where I am. I think in a lot of cases (depending on the industry) experience counts just as much as the degree.
Also, you may find your employer is willing to pay for your advanced degree sometime down the line. My brother has had 2 employers help him towards his masters and one is even paying for a study abroad class in Thailand for him! (I didn't get that lucky, I paid for it myself).
So I think if you can take a step back and look at what you want to do today, you might be surprised at where you will end up. My undergraduate degree is in Agriculture and now I work as a consultant in the IT industry! Go figure Sometimes we just have to get started somewhere to figure out where to go next.
Good luck! Please keep us updated on the progress :)
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5:59 pm November 13, 2011
| MoneyIsTheRoot
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I went through this myself, and I know many others that did as well. I personally started working, making money, and then my employer paid for most of my MBA…on the other hand, if you are in a top 20 program then chances are they discourage working. Quite honestly, other than a top 20 program Iwould begin working first.
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7:40 pm November 13, 2011
| 20s Finances
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My response is similar to Justin's – why can't you do both?? I am currently working and going to grad school and because I landed a job at the school I wanted to go to school at, I have my tuition paid for. There are lots of these deals out there… I think it ultimately depends on what YOU want to do. There are pro's and cons to both options. Good luck with the decision.
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12:51 am November 14, 2011
| jpcuba
| | Davis, CA | |
| New Member | posts 2 |
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Again thanks everyone for your responses. So we spent the last 2 days discussing the issue, my wife wanting to grad school now, me wanting to wait until we are sure we will need the degree/debt :P, and we came to a resolution:D we are waiting. To be completely honest I feel guilty because I feel I pushed her to make that decision and I would feel horrible if it was the wrong one, but we are a team we discussed it and researched it until we felt relatively comfortable with the decision.
I'm all about doing what makes you happy and following the mantra love your work and .. with a healthy mix of "I want to make my wife happy*" so we will be interning, better yet working, in a couple of fields to find our true passion. Still I have a concern on the issue of internship vs. job. For example if she wants test the waters of the HR field will she get better experience(feel of the field) working at an entry level position or as an intern, or am I wrong thinking these two will provide different experiences?
About asking professors it's funny how political science and psychology professors will push you to stay in the academia while sociology professors will be much more down to earth :P
The coursework I'll take is related , I think, to marketing, management, and other fields but I'm a bit concerned of the math level they require, calculus. The most I did was trigonometry and I didn't like it much but when I talked to an older retired friend and asked him about how much math they really used at the consulting firm they worked at he said not much "only enough to see that the computer made a big mistake". Does anyone have any opinion about this, maybe I should just take the damn math classes at a community college, after years of "education" I can say most doesn't seem very practical.
Finally we could "do both" but I feel that without having experience in the field first then there's really no way of knowing if that's the best option. Thinking about grad school reminds me of the stock market, I could read all the information there's to know about a stock/profession but there's nothing like having primary information/experience.
20's to your point I found this article and the idea seems very enticing I'll keep it in mind when we decide to go to a graduate program.
Wow. So much to do :P
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2:52 pm November 16, 2011
| Jeff @ Sustainable Life Blog
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The advice I got when I was in your same shoes (though I was getting a geography/GIS degree, not one in the soft sciences) was to go to grad school right away, but get a terminal degree – something where your degree would become a job title. Ie masters in accounting – accountant, I followed that advice and my job field evaporated with the recession, and I fell back on the skills I got as an undergrad for getting a job.
It never hurts to have a diverse skill set, ever. Doing this will only help you out, and there's no telling what things are going to be like after 2 years in grad school, so dont hinge on that either.
Just find something that you enjoy doing, but isnt going to make you broke. Keeping your debt under control/at zero will give you more options than an advanced degree will in lots of cases.
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3:15 pm November 16, 2011
| Squirrelers
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I can speak to my own grad school experience, which was business school. That might not be what you're going to pursue, but in that type of endeavor, it's very important to have work experience. Personally, I worked before getting admission, and I'm sure it helped. Many top (best 25 or so) MBA programs simply expect at least a few years of work experience, and having it absolutely helps in getting admission. Plus, it helps with getting a job later.
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2:44 pm January 16, 2012
| Dossey02
| | Beaufort, SC | |
| Member | posts 13 |
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Don't go back to school. Get a job, figure out what you like about your field and what you don't.
I graduated from college with a BA in History. Took a year, worked in a restaurant, worked on a political campaign, then went to grad school. I really needed the time off between the two and it showed: I had a 3.75 GPA in grad school vs. a much lower one in undergrad.
Out of grad school I took a job out of my field, but with great earning potential. I decided I didn't care about history or my 6 years of undergrad/grad work, all I wanted was a large paycheck. 5 months later I quit my job, took a position actually using my degree with far less earning potential. Now, it's been almost 7 years since I started that job. I've moved up through the department, have a nice 401k match, have a bit of advancement opportunity. I've also been able to transition to a home based employee, something I couldn't have done in my first job, and my company is now paying me to go back to grad school to focus on organizational leadership.
My advice to everyone is get a job. It doesn't matter if it sucks, if the pay is horrible, if you hate it. Just get some experience. Determine if you really need that extra degree, those extra classes, etc. before you commit and spend your money. In a year or two, the universities will be just as happy to take your money, if that's the road you decide to go down.
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4:32 pm January 17, 2012
| Renée @ NickelbyNickel
| | Canada | |
| Member | posts 105 |
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I'm working and going to school, I went to school before and ended up with one diploma that was completely useless. I agree with your decision to wait, you'll get a better idea of what you'll want/need.
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6:23 pm January 17, 2012
| Daisy
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I'd probably do both – work experience is SUPER important, but so is education depending on the job, and you can always take it "slow" and do both to make up the difference, both financially and experience-wise. I know getting a bachelors isn't even close to grad school as far as how much work it is, but I work full time and am taking three 4th year courses – i've done four before too. I'm sure you could just take a couple of courses :)
That's my two cents!
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9:31 pm January 17, 2012
| Super Frugalette
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I would call head hunters in your area and have a discussion with them regarding your current skill set and what skill set you need to obtain an entry level job. That should give you some direction.
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4:21 am January 18, 2012
| MoneyBeagle
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I worked for about four years before starting my MBA, which I did in the evenings. I offhandedly mentioned it to my boss at the time, just to give him a heads up that I would be unavailable at certain points, and he offered to pay for the classes. That was sweet!
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5:54 pm January 24, 2012
| One Frugal Girl
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I think entering the workforce first is the right way to go. If your lucky you'll find a job that will pay for your graduate school. Plus once you start working in your field you'll determine if that's really where you want to stay. I would suggest trying to volunteer or intern at a place you're interested in working if they won't bring you on board right away with a big salary. Work experience may be much more valuable than a degree to most people who hire you. While some companies are looking for that long list of degrees many managers are more interested in real world experience.
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9:49 am January 26, 2012
| Andi B.
| | PDX | |
| Member | posts 272 |
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I went to school as a math/physics major at 15, got my A.S., transferred to UCD actually, and I knew inside I was unhappy. Everyone told me I needed to have a business degree, I needed more school, so I transferred to CSUS and got within one year of my degree and left. I went to school to be a massage therapist and it was the best decision I made. I tried going back to school once, but it only reminded me that I was happier doing what I was doing. The twists and turns a life takes after school is unimaginable. Through those years I've lived in multiple states, worked at major resorts, met amazing people, and transitioned into work that utilizes all my skills, the mathematics, and the massage training.
You went to school for your degrees as a reason. I would sit down and assess the initial why. If the only reason you chose your degrees was the money potential, than you may want to take a different track, but if you chose it because of an internal purpose, try and see if that still exists and if it is worth following.
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Andi B.
Make the life you want.
Enjoy good food.
Enjoy good friends.
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10:25 am February 13, 2012
| This That And The MBA
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| Member | posts 240 |
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I started working before going to grad school. I found in the field of finance atleast in my area that people want you to have a little experience along with the degree. Most employers I have found see the degree as someone that is trainable, but the experience shows they have been in the trenches and can do the work.
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7:11 pm March 27, 2012
| Earth and Money
| | Toronto | |
| Member | posts 35 |
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I went to grad school, then went to work, then went back to grad school, and now am leaving grad school earlier than I had planned to go back to work. Why all the back and forth? Partly because I was listening to what others were telling me to do and partly because I was doing what I thought I was expected to do. Only now am I finally listening to myself and doing what I want to do. So my advice, ask yourself what do you want to do? If you can invent your own job, what would it be? If you don't know, try things until you learn more about what you want.
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3:52 am March 29, 2012
| CBC
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| Member | posts 62 |
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I was in a similar position myself a year or two ago now! Although I was slightly younger at the time. I chose to go straight into work, as in my opinion employers look for experience over qualifications.
Unless you are working towards a profession which requires multiple qualifications then I would almost certainly go into further education. You could also get yourself a part time job if you wish, so you are earning money at the same time!
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CBC International are specialists in debt recovery, based in Liverpool who provide their services to businesses across the UK, Europe and Worldwide.
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11:05 am March 30, 2012
| Eric – PersonalProfitability.com
| | Portland, OR | |
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I worked full time while MBA schooling full time. Work experience is important along with education to prospective employers.
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