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Just_Justine's avatar

Would you consider obtaining an extra degree as a good form of security for older people?

Asked by Just_Justine (6496points) March 25th, 2010

I have been offered the opportunity study another degree which my company will pay for.

Some of you know that I am in my late forties. I have a nearly completed BA.sci. , and a half finished degree in ILPA, but because I have moved industries plus money and time issues, I had to drop them with the result that I have a good few credits to go on both.

What I would like to study is another degree in commerce. This is also in line with the company’s required degrees. My reasoning is this not only open doors for upward promotions but lateral moves too. I am particularly interested in tax, economics, and financial forensics. Do you think making this choice prolongs earning power and more importantly career longevity? (Professionals are never seen as too old?). Or are they?

Of course my first love was my But I can’t pay for it right now.

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31 Answers

malevolentbutticklish's avatar

The best form of security is to SAVE MONEY.

zandrace's avatar

If your field has industry recognized certifications that would be a good option as well.

Just_Justine's avatar

@malevolentbutticklish I do that, I am a financial Planner and Investment consultant. I want as many arrows as I can find.

malevolentbutticklish's avatar

@Just_Justine: Consider if you spent all the hours you will at school, traveling to school, studying, working to pay for school, etc just working towards your savings. If you would have spent the time watching TV and the money on booze then school is a better investment… but it is hard to run the numbers for someone who is 40 and find that school is a better investment than saving the money directly. If your calculations work out differently I would be interested to see them. The key to coming out ahead with working is that you must devote the same number of additional hours to work as you would have school and you must save 100% of that money as well as the money you would have spent towards school.

Just_Justine's avatar

@malevolentbutticklish I think you misread my question. I work, I will continue working, I will be studying in the evening. It is paid for. I do not go to “school”. It is correspondence university. You follow? I work, earn, save, and study. Ugh! never mind.

BoBo1946's avatar

@Just_Justine would do it to improve my knowledge, but, got a good job now, retired!

malevolentbutticklish's avatar

@Just_Justine: I read it.
“I work, I will continue working,” <== If you devote 20 hours per week to school you could have worked 20 more hours per week instead.

Just_Justine's avatar

@BoBo1946 I have a good friend who is 60 odd and is still consulting freelance to various banks in the UK. I did learn somewhere that Professional People are not “exhausted” in various industries but welcomed no matter age. But anyway, good for you :) was it industry related or something brand new? sounds exciting.

Just_Justine's avatar

@malevolentbutticklish and the point of that? we don’t get paid over time you know. Your plan sounds a bit like work yourself to death? Now there’s a good plan. Why didn’t I think of that. That way I don’t have to get older. Brilliant.

dalepetrie's avatar

Education is never wasted.

Trillian's avatar

@Just_Justine I think that if the final result of your studies will be a degree and a higher paying job, go for it. I go to school online, I’m in my late 40’s and the degree I’m finally earning will net me a lot more money making potential. I think that pay increases more than make up for hours not spent working extra during the week.
You’re still putting in the extra hours, but with a definite stopping point to look forward to and the reward of increased pay for fewer hours at the end.

Just_Justine's avatar

@Trillian thanks Trillian, it’s great to know someone else is studying in their 40s. It also safe guards one against redundancy I think and that was also what this question was aimed at.

davidbetterman's avatar

@Just_Justine Study. Pay no attention to trolls who are just dragging you off topic in their attempt to drain you of vital life energy…oops, here it comes again!

anartist's avatar

MiGod, it’s FREE, isn’t it? Every bit helps, even if you end up using your knowledge to go into business for yourself. But most likely it will promote your career, or at the least, keep you at your status quo. And unless the subject matter really makes you barf, it stimulates your thinking, a healthy thing to do as we age. I’m older than you are and am always adding to my skill sets with courses and seminars.

stump's avatar

If the education is being paid for by your employer, and it is something you are interested in and/or can use, it sounds like a good deal. I have no experience in those fields, but on-going education is a plus on any resume.

malevolentbutticklish's avatar

@Just_Justine: “and the point of that? we don’t get paid over time you know.” <== So you don’t see your pay as a function of what value you add to the company since you are on salary?

Just_Justine's avatar

@zandrace very good point thanks

Trillian's avatar

@malevolentbutticklish “So you don’t see your pay as a function of what value you add to the company since you are on salary?”
That runs counter to your argument about the time she needs to put in during the week and save as opposed to going to school. You said; “The key to coming out ahead with working is that you must devote the same number of additional hours to work as you would have school and you must save 100% of that money as well as the money you would have spent towards school.”

malevolentbutticklish's avatar

@Trillian: It doesn’t run contrary to that if you see your compensation (over a period of time) as a function of the value you add. It only runs contrary if you don’t see your compensation as highly correlated to value added.

wonderingwhy's avatar

Considering you don’t have to pay for it, it’s worth it if you’re seen or want to be seen as candidate for promotion and expect to remain in the industry for some time, particularly at an executive level. Nothing outweighs performance though, so if by studying your performance falters you may find the company turning up the pressure on you and having a shorter leash until you prove yourself again. Of course once you have the degree more opportunities within the industry as a whole will likely open up.

Just_Justine's avatar

@wonderingwhy you are so right, performance outweighs any degree. My line of thinking is when I slow down physically, I will still have this old “brain” pumping it out. Hopefully!

BoBo1946's avatar

@Just_Justine i could do some independent adjusting…as i worked for a major ins. co for 25 years. Actually, after retiring, worked as independent on Katrina—that finished me—!

davidbetterman's avatar

@Trillian Great answers…I especially like when you said BULLSHIT!!!

Just_Justine's avatar

@davidbetterman I know she’s fab isn’t she! seems our crafter is asleep!!

davidbetterman's avatar

@Just_Justine Nice to see people are beginning to acknowledge this troll…and are refusing to play his game!

PacificToast's avatar

For your interests, yes, I believe this would be beneficial to you as the degree is in your field of expertise and will allow you to excel in your career. Since retirement now seems a ways away.

Neizvestnaya's avatar

In your shoes with security already in place and the offer to be paid for by your company, I’d definitely do it. My thinking is this: the company will pay for it which is a sign of future investment on their part in you and it also makes you a bit more valuable than an incumbent because the company has already (future) invested in you and you’ve performed in return by obtaining the degree.

PandoraBoxx's avatar

Quickest way to improve the health of your brain is to use it. Absolutely get a second degree, especially since your company will pay for it.

Simone_De_Beauvoir's avatar

If anyone offered me a degree and to pay for it, I’d take it – I don’t care about security or much else, it’d be great because I love school and learning!

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