Posted on 06/11/2012 1:12:29 PM PDT by Black_Shark
Hey all,
Need some advice from those who have experience in this area: Is it worth taking out $41,000 in Direct Stafford Unsubsidized loans (Looking at ~ $45k after interest for 2 years) for a Master's of Science in Economics with a Master's Minor in Statistics at North Carolina State University?
Some background: I obtained my B.S. in Economics (Cum Laude) with an overall GPA of 3.364 and a major GPA of 3.6 in May 2012. Can't find a decent job so far and am currently retaking all of my calcs (I-III) that I took way back when in undergraduate in preparation for the advanced mathematics that my chosen Masters requires. I am doing this while actively looking for entry-level analyst jobs all over the USA.
If I obtain a job, I plan on taking it and starting my career. If this does not happen, Plan B is to stay in Graduate School and pray that the economy improves enough to allow me to capture that elusive first job.
Opinions? Advice? I recognize that I will need a Masters at some point in my life but is now the proper time to acquire it? Is it worth attending graduate school rather than applying for some entry level walmart job while looking for a job in my field? Please, keep this thread on the topic of advice and opinions that are helpful rather than bashing the Education industry.
Thanks all!
- Blackshark
I rather doubt you’ll get any valid advice. Try using a crystal ball.
Prayers for you. This is a stressful time, no doubt.
My question is (not knowing the industry), are your educational credentials and aspirations a very close match to the field you are trying to find work in?
If so, then I would say yes, go for the graduate degree.
That said, to the extent that you can extend your master’s degree out over for more time and thus take on less debt, then I would say do that and couple your graduate school with any work/income that you can find.
I know it is a very difficult decision and time for you. I wish you all the best.
Eh, it’s worth a try because there are some FReepers with experience in this area that I am sorely lacking.
Plus, trying to get a straight answer out of the University is akin to herding cats. A darn waste of time.
Uuuuhhh, do you know how to spell “...unexpectedly..?”
Get a job, and then use their tuition reimbursement plan to get your graduate degree.
Salve
Friend all is upon your goals? How do you see your degree will help you to achieve your goal 10 years from now?
Are you financially able with solid job to be able to pay off the loans you will be taken?
If you have familia, are the entire financial house is in structure to have extra debt?
Major, will this degree satisfy you as a person for personal pride, or for accomplishing a goal of life you want to have?
Most importantly, have you look at all curriculum?
Merci.
Can you go to a state school with a lower tuition?
And funny you should just post this thread. My son graduated in Dec 2010 and has been working full time since July 2011. He just got accepted today into a graduate program for Human Resource Management and will be attending the evening session while he continues to work during the day.
Otherwise, not so much.
Sign on to the Romney campaign.
That would be the preferred option however I am making the assumption that I will not have a job in the finance/data analysis industry within 2.5 months.
If I acquire a job, all of this will be moot! :D
Can you find work in a teaching position, teaching math, finance, or economics at high school or jr college level? have you considered teaching as an option?
Goals: Obtain a job in the data analysis/financial analysis industry. Work my way into a trading position (best case scenario) or into a forecasting/statistical modeling position.
Financially able: The average starting salary of the Masters graduate of this program is ~ $55,000 with variation. Typically go into data analysis and finance thanks to Charlotte.
Family: Parents fully paid for my undergraduate. I personally am responsible for my graduate.
This degree is necessary for my career. However, is now the right time to acquire it?
My guess is you’d be more employable with a MS in statistics.
I’ve actually considered the High School teaching position because I tutored quite a few friends in college in both mathematics and economics and thoroughly enjoyed it. However, to teach in NC one must either pass a bunch of education tests or have an education degree.
To teach beyond high school level, one needs a Masters or above.
I also have a Bachelor’s in Economics and found that without specialty knowledge within a field, you really can’t do much without an advanced degree. I completed my MBA after this which opened up a lot of doors.
I would look at a couple of different routes. 1. A graduate degree in a field that specializes in what you are interested in and/or have a passion for. (no, this doesn’t mean basket weaving). or 2. Get in with an established company (even on the very bottom rung, customer service or mail room) and work your way into the position you want. You may also have an advantage of of your employer paying your tuition (as mine did). or 3. Getting specialized certifications in the field you want to go in, such as a PMP for Project Management, etc. These specialized certifications often count for more than an advanced degree to a potential employer.
Don’t let the naysayers misguide you. As someone on the hiring end, especially in this economy, many times, with all things being equal, having those papers behind your name can make a world of difference, both in keeping the job and surviving cuts when there are some.
lol! that’s good!
Many companies will pay for your graduate education—this is the route my daughter is taking while earning about 50K/year. It did take her almost a year to find employment outside of waiting tables and she was a very good student.
My son just graduated with a degree in Children’s Ministry, and asked himself the same question. Should he get a Masters in Divinity or Counseling, or take a job right after school?
He got 2 relatively decent entry level job offers, with full benefits, while he was still in his senior year. After asking some more experienced men in his field whether he should take a job or go for a masters, the consensus was he should go right into his career. If his employer wants him to get a masters, they will have to figure out how to make that work, by arranging more flexible hours and adequate pay. Much of his master’s degree will be on line, so it’s more manageable than the traditional class room learning.
Unfortunately, it sounds like you don’t have the job option. Do you know for a fact that it is a lack of a master’s that is holding you back? It’s often not your degree, but who you know, that lands you a job.
You probably have done at least one internship, but would you consider another? Although they are typically unpaid, that is usually the portal for a real career. My son did several internships, with at least 4 churches. Two of them resulted in good job offers. One church even created a new position for him and that’s the position he took.
It’s all about networking.
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