Will grad school improve your finances?

While pursuing a Bachelors in business management, the last professor in the program repeatedly and emphatically told us not to pursue a Masters degree. He was clearly disgusted with higher education and he said it's not worth the ROI and it's a waste of time, energy and money to go down that route. He said our time and money could be better spent and invested in our families.

 

Well that is a personally choice by your prof, the decision between earning higher income and family time. However, in most cases there is an area of equilibrium which is different for everyone. One has to just find his/her sweet spot.

 

Interesting research from the us census concerning the income-education correlation.
http://www.census.gov/prod/2002pubs/p23-210.pdf

 

Hey Neuhaus, I have some interesting information for you. From the Canadian CPA Magazine October 2016, " An academic paper published in the Economics of Education Review suggests that even criminals benefit from post-secondary education". The article is the Returns to Education in Criminal Organization - educated mobsters earned more.

 

So what would you guys say if you (I) didn't have to pay tuition for attending grad school, would it be worth it then? Time would be 2 years of assumingly rigorous school work with unknown job prospects.

 

Still depends on the program type, what one would want to do upon graduation, the reputation of the program/school in relation to acquiring employment, etc. Financed Harvard MBA? Do it! Financed obscure master's degree in an irrelevant field, from an irrelevant school? Probably not.

 

More than a little prejudice at work here. Care to make a list of the subjects you consider to be "irrelevant?" We have many, many members seeking higher degrees in all sorts of fields who might argue that the degree they are working towards is quite valuable and they would be delighted to have someone pay their way through grad school.

 

For full disclosure I'm active duty Air Force and currently about 30 credits out from finishing my BA in Organizational Management. A free education is one of the benefits offered to active duty. I've only in the past year decided that I need to take advantage of it, before the future me looks back and kicks myself. I have actually had a really good time with online learning. I get a lot out of it, and it isn't overwhelming. Traditional B&M schooling just wasn't for me, that's one of the main reasons I enlisted.

I've found five RA schools that will match the TA rate of $250 per credit hour for a Masters

- WKU
- NAU
- UL
- Waldorf
- Argosy

I will have an inside track to positions with defense contractors and government civilian slots after 20 years of aircraft maintenance, but no specific jobs are in my sights. I know that a Bachelors degree opens a lot of doors, but I haven't heard much about a Masters because because no one ever pursues one. I think the personal accomplishment factor is a big one for me, along with wanting to take advantage of the benefit being given to me for my service. What my job prospects are is the only thing that remains uncertain.

 

I'll assume that you're considering something like an MBA. There are lots of things written questioning the value of such degrees. Sometimes I think those articles are just the product of a lot of under-employed journalists looking for a paycheck. In any case, I wouldn't discourage you from your goal. It's a good one and has a reasonable chance for success. I have a fondness for NAU. It's not because I know it to be a better school than any of the others. It's mostly because I've been to that campus and just have some nice memories of the city. I suspect there are more than 5 schools that meet your criteria. If you'll say which degree(s) you are considering we can probably identify a few other schools for you.

 

I dont know what is going on with my post all of a sudden needing moderation? I typed out a semi in depth response and it's no where to be seen, but this shows up...

 

Irrelevant in the sense that the degree or coursework is ultimately irrelevant to what one wants to be doing or towards the career that they are pursuing i.e. getting a graduate degree in sociology when the goal is to become an accountant. Sure, it can help to some degree (ha!), but it is not nearly as relevant and useful as something more in-line with their interests would be. So, to answer your question, any number of subjects could be irrelevant to a given individual.

 

Grasshopper, please read for future reference

http://www.degreeinfo.com/general-distance-learning-discussions/35100-new-users-ask-where-did-my-posts-go.html