Here's an email I recently received from a reader:
Since 2001, I've worked for the same transportation company. I make roughly 54K a year and have a pretty good pension plan. The problem is that I hate my job. I tried looking for something else but I haven't found anything. And, I would like to return back to school full-time to finish my bachelors in Commerce (Majoring in International Business).
My question is, is this a wise decision? To quit a boring "safe" "stable" career to go back to school to complete a degree which won't guarantee me a better career?
What's your advice for him?
Dear Reader,
If you quit your job and go back to school full time, would you be living off of savings, or will you go into debt to cover your living expenses plus education costs?
How long would it take you to complete the degree full-time compared to part-time? There are plenty of places now where you can complete a degree part-time at night, or completely online.
With the limited info we know, I'd suggest you stay in your current job, take night or online classes, see if there's a way your employer will cover some of your education costs.
At some point, you should have a conversation with your employer (if you haven't already) to share your goals and see if there's a way your goals and their goals can grow together.
If your employer has an interest in expanding internationally, you'll have a ready-made laboratory where you can put meld your current job and your education together.
If there's still no hope of any improvement in your current job, at the least, you can see it as a mechanism to fund your education. At best, you can seek to learn as many aspects of the business as you can, and see how your education can improve your job and help prepare you for your dream job.
Posted by: Rich Avery | June 30, 2010 at 11:04 AM
The way you should proceed depends upon your goals and your obligations. Where do you want to be 5, 10 or 25 years from now? Once your goals are formulated, then you should decide whether your current job will get you there. If not, then it is time to move on - to another job or to college.
Next question: what are your obligations? Do you have a family that is counting on you for support? If so, then your options are more limited. If not, then leaving your job and pursuing a new career is less risky. Do you have debt or other forms of financial obligation? If so, your options are limited - you may need to keep a well paying job until you pay off your debt.
The starting point is identifying your goals. Once they are set, then your subsequent decisions about employment should be easier.
Posted by: John | June 30, 2010 at 12:00 PM
Theres a lot of unknowns and questions I'd look at :
Do you have a good chance of getting a job with that degree and would it pay well? DO you know people with such degrees working in good, well paying jobs? What kind of jobs does that degree get you? Whats the employment prospects in that field?
Do you have any money in the bank? HOw would you pay for the degree? Are you single or do you have a family to support?
If you have a reasonable chance of getting a good, well paying job with such a degree and are in a position where going back to school wouldn't put you in over your head in debt or be a burden on your family then I'd say its an OK choice.
But I wouldn't go back to school just cause you dislike your current job. You could spend years studying, get into debt and then find yourself in another job you hate or unemployed or even back working the same kind of job you have now.
Ultimately this is a kind of choice you have to make based on your personal priorities. But I do think it can be a 'bad' choice if your pursuing a degree with poor job prospects or putting yourself too far in debt or not meeting your family obligations (if you have them). If none of those are worries in your situation then I think its an OK choice.
Posted by: jim | June 30, 2010 at 12:58 PM
Go for it ... you only have one life, why stay bored?
-Be pragmatic ... look for jobs with substantial growth predictions
-Do not consume education dollars ... pick classes/degree that give you highly marketable skills only
-Pick a college or university that will give you college credit for your work experience
-Keep working, take Internet classes ... keep the debt as low as possible
-Cheapest/most flexible education are Internet colleges ... I recommend
http://csuglobal.org/
... if they have your program
-Find your hedgehog 1st...
http://www.jimcollins.com/media_topics/hedgehog-concept.html#audio=84
http://www.jimcollins.com/media_topics/hedgehog-concept.html#audio=85
http://www.jimcollins.com/media_topics/hedgehog-concept.html#audio=79
http://www.jimcollins.com/media_topics/hedgehog-concept.html#audio=39
Posted by: mashford | June 30, 2010 at 01:06 PM
It's a bad idea.
Most people find their job boring or hate it at some points in time, many people find it so at most points in time.
I have heard nothing about your desire to go back to college for commerce that indicates why you will be passionate about that (and passion is rarely enough on its own regardless of the people arguing to follow your passion). There is a good chance you will just set yourself back 10 years in your career, have to start over at a lower salary, have lots of new college debt and end up in 9 years finding your job boring and hating it.
I have found my job boring, hated it at many times over the past 17 years and after about 5 years in had already decided I definitely didn't want to do this for ever. Well I am now 17 years in obviously but I am close to being done. I worked hard, earned good wages, saved my money and am building a side real estate empire. I have been doing that now for 2 years and find that much more enjoyable. When it gets solid enough I will do it full time.
Find something you can shoot for that you would like to participate in that doesn't require you to give up your current path and then try to find ways to transition into something more full time. This could also involve part time education while you work but that is also very hard to do. You have done your current job long enough for it to be your best option at this time. Thinking you can easily start over and not take huge steps back is not realistic. If you take that path I would bet the odds are high that you will regret it at some point in time for not having turned out how you hoped.
Change often seems like it has to be better than the current situation, but it's usually a bit of grass is greener syndrome and the change doesn't bring about the improvements we believed it would and can often make it worse than staying on the path we were on. Don't change paths too easily, be fairly sure the other path is a drastic improvement or else its just to risky to try to take a new unknown path.
Posted by: Apex | June 30, 2010 at 01:09 PM
International business huh? One of my accomplished accounting professors once said, degree in international business on its own is worthless. It can only be as a side kick to a well established major like accounting, finance, economics ect.
Unless you speak a foreign language like Chinese, Spanish, Japanese ect, and already have a skill set that can be supplemented with the International Business degree, I recommend doing some evaluation on your situations.
Right now, I would take 54k (+ boring, safe, stable) job in a heart beat over the International Business degree. Peace.
Posted by: iggy | June 30, 2010 at 01:14 PM
I agree with the previous commenters - if you can go to school part-time in order to finish your degree, do that. Then you do not have the problem of no income at all while you are in school.
Posted by: Rob | June 30, 2010 at 01:39 PM
This is timely as i just finished reading an article that questions the "myth" that over a life time a college grad far out earns a high school degreed grad. Here's the link: (ps FMF if this is not permitted then please feel free to peruse the article and use it later).
http://finance.yahoo.com/college-education/article/109946/college-big-investment-paltry-return?mod=edu-continuing_education
It rates the lifetime roi of a degree at one of over 800 schools--btw, this info is in a link inside the article.
Back to the question. Does your firm offer tuition reimbursement? If yes, stay and take advantage of it. I have to agree with everyone else except mashford who said go for it. You hate your job. Who doesn't/didn't at some point in their career. It comes and goes. BUT, if you truly hate it then here's my two cents:
GEtting the degree does not address your complaint,: "I hate my job." the degree does nothing to adress this.
Start looking now for a job/company that you would not hate. You do know what that is don't you?
Evaluate your own attitude. You hate the company, and it most likely shows. Change your attitude. Really is it that bad?
As far as the degree, go ahead and get it, but don't quit. That is a mistake
unless you've got more money/inheritance coming.
Perhaps the challenge of school will stimulate a change in attitiude. Perhaps it will provide you with a new network of friends that will help you find a job you like better. Good luck
Posted by: BillV | June 30, 2010 at 03:40 PM
You cannot lose a degree once you have earned it.
You can lose your job.
You can lose it's pension and benefits.
You can lose your sanity.
You can lose your home, your car, your money, your family, your friends, your health, your looks.
You will lose your youth, eventually.
But, again, you cannot lose your education once you have earned it. Once it's yours, nobody can steal it, forclose on it, or wreck it in an accident. Go for it.
Get that diploma. If you are part of the way to a degree in international business, you already know enough to figure out how to live off savings, get financial aid and not overpay for your education.
Good Luck!
Posted by: Catherine | June 30, 2010 at 03:51 PM
Bravo Catherine!
-I have 4 degrees (2 BS, 2 MS) and they have all paid returns
--Of course they are all in Science & Math
Posted by: mashford | June 30, 2010 at 04:39 PM
Like others, I'd be cautious about majoring in "international business" without adding accounting or something more concrete. Why not major in engineering or nursing or something that will get you a job with a BA degree?
Posted by: MC | June 30, 2010 at 05:53 PM
All Hail the god of education.
She will not leave you nor forsake you.
Yea, though you walk through the valley of the shadow of death, you will fear no evil, for she is with you.
Her diploma and degree, they will comfort you.
Surely enjoyment of employment and salary shall follow you all the days of your life.
Hallelujah, Amen, Holy crap, where's the Tylenol!
Posted by: Apex | June 30, 2010 at 06:03 PM
We have an e-mail from yet another reader that provides a paucity of his personal and financial details thereby making it impossible to give him a solid, well thought answer.
From what he has provided the only clear answer is "Stay Put". After ten years in a job with good pension benefits what are the odds that a global company will snap him up because he has a degree in international business and 10 years of experience in a transportation company. Maybe he's a city bus driver for all we know, they probably get pensions!
Meanwhile if he goes back to school full time, his income disappears, he depletes whatever savings he has, and just hopes that a big name company will snap him up right after graduation. Get Real!
Posted by: Old Limey | June 30, 2010 at 06:59 PM
Yes, it is a wise decision. Education is the most important asset (beside your health) to your life. I'd say big NO to you if you would go back to get masters only to escape your daytime job but I think if you do finish your BS, more doors will open to you.
If you absolute hate your job, you should leave and never look back. Life isn't about what you do, it's about how you capture every moment. Quality absolutely matters and you'll be so much more happier mentally and physically. If you aren't financially stranded, I'd say go finish up education and look for something you really love doing - whatever that is. Money will come if you absolutely love what you do (and of course good at it) Good luck!
Posted by: Josh | June 30, 2010 at 08:11 PM
"Money will come if you absolutely love what you do (and of course good at it)"
Interested in some oceanfront property in Arizona?
Posted by: Apex | June 30, 2010 at 08:36 PM
And I should add, this is a time when companies are putting in their 'want ads', unemployed need not apply.
Posted by: BillV | June 30, 2010 at 09:08 PM
I think that it's a balance of dreams and reality. The latter, reality, tells me that a $54k job with pension, when that has been your experience for quite some time, is not something to give up immediately.
To the reader:
Ask yourself: if I walked away today, who would hire me, and for what job and what salary? Without a degree finished? Let's say you stop working there and finish the degree. What next? I'm not sure, based on the limited details, that it would automatically be easy to find a job that offers comparable compensation right away.
Now, if you hate what you're doing, I applaud trying to go for more out of life. Do it! Just don't shoot yourself in the foot doing it. Why not work there and finish school part-time? Maybe then pursue you own passsions as an entrepeneur, or even go to graduate school part time?
Whatever choice you make, I wish you the best and hope you find what you're looking for.
Posted by: Squirrelers | June 30, 2010 at 09:20 PM
“Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” Mark Twain
Posted by: Kaizen | June 30, 2010 at 09:49 PM
Dude. You only LIVE once. 1 time. That's it. Do what makes you happy.
The biggest investment you can make is in yourself"
_Warren Buffet
Posted by: my2cents | July 01, 2010 at 02:04 AM
I agree with all of those who say to change your attitude, stick with the company as long as is possible (pension alone is worth it to many), and also augment your education one night a week or w/online courses.
I also agree to stick w/what you are interested in, but lay the proper groundwork. Get a highly marketable degree first, then go for the gravy (Int'l Business).
Best of luck!
Posted by: Holly | July 01, 2010 at 11:22 AM
He's not dumping it all for a degree in Dance with a Minor in Women's studies, for cripes sakes.
I'd argue that staying put and expecting to spend your entire career at that 'safe' job is far riskier than finishing a bachelors degree. My employer of 10+ years went bankrupt, as did many, many others over the last decade. Those 'good pensions' evaporated along with our 'stable' jobs. When that happens, more doors are open to those with a higher education.
Just as you must manage your own retirement plan, you must manage your own career by upgrading your skill set, continuing your education, and growing your network whatever the field. Life is not a dress rehearsal.
Posted by: Catherine | July 01, 2010 at 12:29 PM
Catherine
You are right about 'Life is not a dress rehearsal.' But as several posters have indicated, the questioner does not give much info. No one, okay well at least me, is telling him not to get the degree; just don't give up the job yet. A BA international business gets him nothing but a degree. (Not a bad thing btw.) As I read the qx, he seemed to be on the brink of staying in ajob he doesn't like or quitting and going to school full time for a BA.
Now if his choice was stay in a job he hated or sail around the world/move to some far away place/etc I might be among the first to say "go for it". But his choices (as he frames them)are stay in a job he doesn't like or quit and go to school full time. All I would like him to consider is that there are several other paths between the two extremes. I admit to believing that the 'going to school choice entails running away. I wonder if he realizes that everyone hates their job from time to time. If running away works for him, then he should do it. (IE quit and go to school full time)
Poster, how about responding to the advice. Whatever you do is fine by me. ;-)
Posted by: BillV | July 01, 2010 at 04:31 PM
In what way does he hate his job I wonder? It sounds like he's more bored and in a rut than he is truly miserable at work (i.e. dealing with an abusive boss, working in an industry that goes against his values, being overworked and underpaid, etc.) Being uninspired or unmotivated isn't a reason to quit your job. Not everybody can or will find a job they "love."
But you can still love your life by getting passionate about hobbies, travel, volunteering, spiritual exploration, education, a significant other etc. without ever quitting your job.
That said, if you truly hate your job and don't see that changing, feel free to quit and try something new (have something new lined up BEFORE you quit though). I second recommendations to go to school part time and see if your employer will help pay. But keep in mind the average starting salary for a new business grad is must less than you're making now - not even considering the pension.
Posted by: Meg | July 01, 2010 at 05:15 PM
BillV -
Thanks for the comments.
All advice is colored by our individual experience. Returning to college to finish my degree after 10 years of working paid off immensely for me. And it is my expectation it will do so for our letter writer.
My impression was not that he is some random bloke of average skills and intelligence who is simply bored and has a pipe dream about the riches and career excitement that will be handed to him along with a sheepskin, cap & gown.
He is an FMF reader with a solid resume and some credits toward a degree. Given that, I expect he, like the rest of us FMF readers, is smarter than average, honors his financial obligations, is a dedicated worker and proceeds cautiously. I also have the impression that he is under 30, since he only references being in the work force since 2001.
If my assumptions are correct, the time to go to college is right now. It will not get easier. Staying married to a job you hate, with a mediocre (yes!) salary and a pension when you are 28-ish and itching to go to college is dumb, dumb, dumb. It will never be as easy as it is today.
There is no shortage of people ready to say "That will never work." because they can never be proven wrong. Even Bill Gate's venture might tumble one of these days. Of course there will be rough times. I expect that for months or years into the future he might feel like he's going one step forward and two steps back. And it will be challenging to find a job in a few years when the diploma is in his hand. I'm saying it will be even harder to do anything new the longer he 'stays put' in his current rut. A breadth of opportunity awaits the ones who reach for something. The degree he's seeking includes Accounting, Finance, Management, Marketing and a Foreign Language requriement at my Alma Mater. These are all good things to know regardless of where he lands. With his experience in transportation, he already knows about moving goods (or people) which is half the challenge in International Business. What limited information we know about him is all positive. Very positive. I wish him, and all non-traditional students, the best. It is wiser for our society to invest in sending mature young people like him to University than clueless 18 year olds with nothing better to do. He certainly won't be squandering his time taking Rocks-for-Jocks and going to keg parties only to wake up stunned by a six figure debt for an impractical degree.
Posted by: Catherine | July 01, 2010 at 05:59 PM
There are lots of very solid jobs that would bore the hell out of me. Examples: A mailman, a UPS driver, a supermarket checker, a long distance truck driver. These kind of jobs offer very steady employment and in many cases, pretty good pay and also a nice retirement pension and good benefits. The problem is that there's no future, no mental stimulation, and no opportunity for creativity. At the end of your life you can feel that you have provided great service to many people but the question you may ask yourself is, "Did I achieve my potential?"
I needed a job where I could advance the state of the art in my chosen field which was Aerospace. Today after 36 years in my chosen field and 18 years into retirement I feel completely fulfilled and very happy with the way my life turned out. I wonder if most people feel the same way I do - maybe not, because someone has to do those boring, repetitive, but absolutely necessary jobs.
My wife was a pre-school teacher for quite a few years and thoroughly enjoyed it because she is a "people" person and loved the interaction with the children, the parents, and the other teachers. I would have hated that job.
It sems to me that quitting your education without getting your degree, and then spending 10 years in a boring job, tells you a few things about that person, i.e. a real lack of drive, determination and motivation.
Now we are in the worst recession since the great depression, this guy may have left it too late and just run out of good options. If I were an employer, would I want to hire that person even if he obtained a degree - probably not! Instead I would hire the starry eyed kid with the good grades and lots of ambition, straight out of college.
Posted by: Old Limey | July 02, 2010 at 12:08 PM
If you really want that particular degree, I would take classes part-time until you receive the degree while continuing to work full-time. Almost all colleges offer evening classes and/or distance education. I would also talk to people in the industry you are looking at to see what job opportunities are available. With the major you specified, you may be looking at the same job options you have now.
Make a list of what you really want to have in a job, find jobs that are on that list, and get education that will help you find those jobs. I made the mistake of getting a business degree because I thought it would get me a good paying job. It did, but the job is in an office environment, and I'm not cut out for office environments. I made a list of the top 3 things I needed from a job and now make $18k per year less than when I first graduated college, because I had no education specific to the type of work I enjoy doing (counseling people) so I had to settle for a job that was available and as close to what I wanted to do as possible (entry level, no college degree necessary).
Posted by: zoranian | July 06, 2010 at 10:56 AM