You’ve heard the phrase “never stop learning” before. When it comes to your career, this usually means continuing your education. In today’s competitive market, millions of people are going back to school to get the advanced degrees they hope will further their careers. But is it worth it?
The answer to that question depends on many things, including your profession, area market and what type of degree you are pursuing. Every situation is unique, of course, but if you’re considering going back to school, answering these three questions can help you determine whether such a move is right for you.
Why Are You Going Back to School?
An advanced degree like an MBA doesn’t provide the advantage it once did because, simply put, advanced degrees are much more common now. Online courses, night courses and weekend classes have all combined to make the pursuit of an advanced degree possible in shorter amount of time. This doesn’t mean you shouldn’t pursue one, but you should make sure its benefits provide you with more than just another degree. Your new degree should be the key to a promotion, expand your options or make you irreplaceable. If it doesn’t, it may not be worth it.
Will You Have to Pay for Everything?
Just as when you were an undergrad, the decision to attend school may come down to money. You make more now than you did when you were a high school kid, but you have additional costs as well, such as rent or mortgage, a car payment, and any bills associated with children or other dependents. Before you determine one route or another, it’s a good idea to research the schools you are considering and consider how the decision with affect your finances.
If you determine you need financial assistance, your employer may be willing to help. Many companies offer financial support for employees going back to school to pursue advanced degrees. Visit with your employer’s HR team to see if such options exist in your company, and be sure to check whether any clause exists requiring you to pay the money back should you leave the company.
Is Going Back to School Right for You?
This is probably the most important question you must answer. Will you have time to go back to school and do it well? Think back to your initial college experience of reading texts, studying for tests and completing assignments. Do you have the drive to do this again? If you’re lacking the will or the time to do it well, you’re better off waiting until you’re ready to put your best effort forward so you can get the maximum benefit from going back to school.
