Should I get my masters?

[Lucius]

So we're selling our rental house and we will have enough money to live off for the about 3 or 4 years if I so choose. We were just going to put it on our current mortgage but that isn't fun at all (seeing as it will be paid off in about 10 years anyway).

 

Thinking I should go back to school as we'll never ever have a chunk of change like this (at least until more people die and leave it to me ). I've always wanted to flaunt my educational success into the faces of those less fortunate. I've already talked with my current employer and they are behind me 100%. They are securing my current position for me until my return.

 

I love my job, and this will open up more doors for me in the future. Or should I just blow it on hookers and coke??? Cheers, Lucius

[RSBro]

last i heard a masters in Canuckistan is like graduating from DeVry or ITT Technical Institute or something here, so go for it brah :thu:

 

{censored} if i had enough money to quit and study for 6-9 mo's FT i'd do it in a heartbeat.

[Bumhucker]

Why spend it on hookers and blow when you could sell crack and be a pimp?

[Lucius]

Why spend it on hookers and blow when you could sell crack and be a pimp?

 

 

that sounds like work... cheers, Lucius

[R00PE]

ask steel panther they will answer you

http://www.youtube.com/watch?v=IqngrRBIpkw

[pioneerprogress]

If you really like what you do that much, then I'd definitely look into it.

[C-Dawg]

I'll be receiving my Ph.D. this May (cross fingers) and I say don't do it. I've found that work experience vastly out weighs an advanced degree. Has your employer said they would give you a substantial raise for getting your masters? If not, I'd just stay where you are.

[Rear Naked]

important:

 

Master's in WHAT?

 

Will you be getting a raise upon completion?

 

 

 

Please do NOT forget about opportunity cost.

Cost of a masters degree = tuition + money you would have earned during those years.

If you want to have some real fun, factor in potential investment losses over 3 years.

 

You will probably come out financially WORSE in the end. Do the math.

 

 

 

My advice?

 

Since you love your job, invest the money in a diverse portfolio.

 

If you are in love with the idea of getting your masters, just do it one class at a time...unless the earnings potential is a substancial increase.

[pioneerprogress]

^^

pursuing higher education for the monetary benefit, especially post-graduate = doing it wrong

Sounds like he kinda just WANTS to though.

 

disclaimer: NO Single statement can be all-encompassing and therefore I don't care about your cousin's experience that was exact opposite. Just speaking in generalities.

[carlstretch]

What degree are you thinking of earning? An engineering field? English Lit?

 

If you'd just get it to say you have it than I'd say no. Make a good investment and then flaunt it in front of those less fortunate. If you could truly open doors in your career path than I'd say go for it.

 

When I earned my Bachelor's, I could have gone into my industry and earned a certain amount. I decided to stay in and get my Master's and I doubled my starting salary. Plus in my industry (Petroleum Geology) the majority of people in the industry have an advanced degree.

 

That's my story and is probably very different from yours. What's scary to kids these days is that a Master's degree is the equivalent to what a Bachelor's degree was when I was 20,... Which was 20 years ago.

 

Also,... I'm not sure you can complete a Master's degree in 9 months. I think 18 months is a realistic minimum time if you really bust your ass. 2 years is pretty common.

 

Good luck!!

[guitarbilly74]

 

So we're selling our rental house and we will have enough money to live off for the about 3 or 4 years if I so choose. We were just going to put it on our current mortgage but that isn't fun at all (seeing as it will be paid off in about 10 years anyway).

 

 

Yeah not fun, but definitely a good idea. Living debt free is a good thing.

[Lucius]

What degree are you thinking of earning? An engineering field? English Lit? If you'd just get it to say you have it than I'd say no. Make a good investment and then flaunt it in front of those less fortunate. If you could truly open doors in your career path than I'd say go for it. When I earned my Bachelor's, I could have gone into my industry and earned a certain amount. I decided to stay in and get my Master's and I doubled my starting salary. Plus in my industry (Petroleum Geology) the majority of people in the industry have an advanced degree. That's my story and is probably very different from yours. What's scary to kids these days is that a Master's degree is the equivalent to what a Bachelor's degree was when I was 20,... Which was 20 years ago. Also,... I'm not sure you can complete a Master's degree in 9 months. I think 18 months is a realistic minimum time if you really bust your ass. 2 years is pretty common. Good luck!!

 

 

It'd be in Electrical Engineering, and I definately can't do it in 9 months. I'm thinking 2 or 3 years. My current position will be held but there won't be a raise. The raise comes when I move from my current position to other higher up positions. Money isn't an issue nor does it factor in that much tbh. I like my current way of life and have no need to do it but I think it would be a good challenge. There is very little risk in doing it as we have the money to live if I didn't work for about 3 or 4 years, plus my current position is held for me. The only thing is my retirement would be kicked back the time I was in school. Could this be my mid life crisis?? I should talk to a shrink or something I guess lol. Cheers, Lucius

[Rear Naked]

 

It'd be in Electrical Engineering, and I definately can't do it in 9 months. I'm thinking 2 or 3 years. My current position will be held but there won't be a raise. The raise comes when I move from my current position to other higher up positions. Money isn't an issue nor does it factor in that much tbh. I like my current way of life and have no need to do it but I think it would be a good challenge. There is very little risk in doing it as we have the money to live if I didn't work for about 3 or 4 years, plus my current position is held for me. The only thing is my retirement would be kicked back the time I was in school. Could this be my mid life crisis?? I should talk to a shrink or something I guess lol. Cheers, Lucius

 

 

The risk is the opportunity cost you need to recoop later. No raise = not recooping unless you land a REALLY sweet job shortly after.

 

I just want you to understad this because it is important.

 

 

Tuition for 3 years + 3 years salary = a big number. This number is the actual cost of the degree, not including the substancially reduced retirement fund.

 

 

For the love of God, consider keeping your job and take one class at a time. It will be the challenge that you want, you will feel good about getting further educated, and it will be beneficial on resumes in the mean time.

 

 

The only thing that might sway me is if you can get a stipend for assistantship.

[~Abstract~]

Maybe, maybe not.

If it's something you love and this will really help your situation...do it.

If it's just to say you have a Masters...don't.


Don't pay down a mortgage...you'll likely be able to make a better return elsewhere than paying off a low interest note early.

I've always wanted to flaunt my educational success into the faces of those less fortunate.

I've got a Masters. NAA NAA BOO BOO!



(I really do)

[carlstretch]

 

It'd be in Electrical Engineering, and I definately can't do it in 9 months. I'm thinking 2 or 3 years. My current position will be held but there won't be a raise. The raise comes when I move from my current position to other higher up positions. Money isn't an issue nor does it factor in that much tbh. I like my current way of life and have no need to do it but I think it would be a good challenge. There is very little risk in doing it as we have the money to live if I didn't work for about 3 or 4 years, plus my current position is held for me. The only thing is my retirement would be kicked back the time I was in school. Could this be my mid life crisis?? I should talk to a shrink or something I guess lol. Cheers, Lucius

 

 

Well I say for any technical field,.. you should definitely get your Master's if you can swing it. If the $$ is there and your job is still there when complete then go for it.

 

Good Luck to you Mate !!

[carlstretch]

Maybe, maybe not. If it's something you love and this will really help your situation...do it. If it's just to say you have a Masters...don't. Don't pay down a mortgage...you'll likely be able to make a better return elsewhere than paying off a low interest note early. I've got a Masters. NAA NAA BOO BOO! (I really do)

 

 

Lol,.. I almost typed the same thing earlier. Truthfully,.. it's not that big of a bragging right. It's more of a "Nerd Alert" than a "wow" factor. Chicks don't dig degrees,... they dig $$$. IME.

[Phrophus]

If I had to do it over again, I'm on the fence about whether I'd have gone to grad school. But, my situation is a lot different than yours in that it was extremely expensive for me, which means I took out lots of loans, and I didn't have a job waiting for me when I finished. FWIW, I enjoyed most of it while I was there.

[Lucius]

Well I say for any technical field,. .you should definitely get your Master's if you can swing it. If the $$ is there and your job is still there when complete then go for it. Good Luck you you Mate !!

 

 

Thanks bud. Cheers, Lucius

[Charlie_Sheen]

if someone else pays: yes

otherwise: no

[Lucius]

NOTE: I should point out that I have my wifes full support!! Cheers, Lucius

[Weathered]

Is your undergrad in EE? Do you forsee yourself moving into any business specific area in the future? If so, you may want to think about an MBA - I am currently in my first year (doing it part-time while working, so it's going to be about 9 semesters total, or ~3 years), and I've met quite a few engineering types that are doing an MBA to be able to move into leadership within their companies. A combo of science + business is a very potent combo, as long as it fits with what you see yourself doing in the future.

As already said, doing it strictly for financial gain is a BAD idea. Doing it because you genuinely have an interest in the field and have the finances to do so, on the other hand, could be an OK use of your time. But there is a level of sacrifice to doing more school, especially once you're in the work world...

[Kardula]

if the master's is what's preventing you from getting a promotion or making even more money (which is sounds like you dont' need if selling your rent house will secure you for 3-4 years) then I say go for it. I plan on getting my jd for two reasons

1- make more money than I could as a sociologist/criminologist
2- rub it the faces of the people on the forums I frequent

[Rear Naked]

 

if the master's is what's preventing you from getting a promotion or making even more money (which is sounds like you dont' need if selling your rent house will secure you for 3-4 years) then I say go for it. I plan on getting my jd for two reasons 1- make more money than I could as a sociologist/criminologist 2- rub it the faces of the people on the forums I frequent

 

 

I hope those forum visitors have no knowledge of the JD market, or else they will just feel sorry for you, more than anything...

[tommythelurker]

I've had the idea of getting my masters degree in the back of my head for years now, but I don't really want to go back to school. Seems to be what a lot of employers in the semiconductor industry want though.

 

If I really wanted to rub it in peoples faces, I'd get a phd so people would have to call me Doctor

 

Another EE I used to work with got his MBA and switched to doing something with stocks and stuff. That's about the last thing I'd want to do.

[Johnny'sGotTheBlues]

You'd be crazy not to.

IMHO YMMV etc.

But still, not = crazee.