by NYCkid 5 Replies latest jw friends
Hey, I'm finishing up my last year in undergrad school and am considering pursuing grad school. I am hoping to chat with individuals privately, who are attending grad school or have a graduate/advanced degrees for advice about the practicalities and expenses relating to attending grad school later in life (mid-30s +).
I'm not pursing medicine, law or business, so I'm concerned that the effort and expense of grad school may not be worth it.
Thanks,
NYCkid
I just finished my undergrad and I am going into a Masters of Accounting. I am 35+. PM me with your questions and I will try to help you out.
Freegirl
**dragonlady's hubby here****
I have an MBA and learned that a degree most of the times does not mean much. EXPERIENCE counts for alot. Higher degrees in many majors only really qualify you to teach (liberal arts, education, etc...) I would look at the career path you want to pursue, talk to people in that career and see how they got there. Usually experience counts for alot. Sometimes a technical certification or something might help as well. Other instances, a higher degree really doesn't do much- for example, a teacher with a Phd who teaches in a public high school might make a little more than a teacher with a lesser degree, but still makes alot less than other professions.
One option- go into the workforce, get some experience, then maybe go back to grad school. most of the times it will enhance your career and your employer might pay for it.
again, it all depends on the field. by the way, what field are you considering?
I have an advanced degree in management and accounting.
I worked through my degree even while I was a witness. The expense was no problem because I capitalized on the education reimbursement policies of the several employers I had over the past 20 years. I spend well over $30K of their money on my education. Thank you very much
In my field, (fisheries) one advances much faster and more doors open with advanced degrees. A combination of experiance and scholarly accomplishment mean a lot. Also "connections"! carmel
Good advice here.
The value of the advanced degree depends on the field. Mine are in English--and since I'm not in academia, it's had little effect on my earning power (if anything, the Ph.D. is more of a hindrance, because some places are hesitant to hire an "over-qualified" candidate).
It has, however, had a major effect on my lifestyle, because even though I had a teaching assistantship, I still borrowed roughly $12,000 a year (living expenses--a grownup with financial obligations needs more than a 22-year-old with no debt and no family) for a total debt after 5 years of $60,000.
Now, I don't think that money was wasted because I received a lot from my education--and the best thing is, it can't be repossessed! But paying back that loan is a big chunk of my pay (and even if I were in academia, I'd only be making about the same salary I am now--mid-$30,000s).
My partner, on the other hand, has a Ph.D. in science. It tripled her earning potential. So her $45,000 in loans was more than worth it--she's in six digits (and would do better in private industry, but prefers not to be beholden to corporate interests).
And, since I'm lucky enough to have her, I don't worry about money too much--but I would caution someone who's worried about debt to look at the starting salaries in the field they plan to enter, then evaluate how well they can live with the debt. And it also makes a difference how old you are--I went to grad school in my 30s (late bloomer), but if I'd waited even another 5 or 10 years, it would have made it that much harder to (a) get a job, and (b) pay off the loans in time to retire.
At least the student loans will be paid off before I reach retirement age.
Best wishes to you,
Jankyn
