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#1965766 - 09/30/14 06:41 PM
Anyone Get A Master's Degree While Still Working?
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Member
Joined: Sep 2005
Posts: 50
Kansas
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I'm contemplating going back to school and getting a master's degree in economics. My bachelor's is in English literature, so I'd need to take some undergrad economics, statistics, calculus before even starting on the master's, but I do have 15 years of banking experience.
I've got a full-time job (that I can't afford to quit or go part-time on) and a second-grader. Am I crazy to even consider this?
Last edited by jaenelle; 09/30/14 06:41 PM.
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#1965772 - 09/30/14 06:59 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Platinum Poster
Joined: Feb 2010
Posts: 960
Illinois
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I have seen people get a masters while working, but you really have to manage time well and have a supportive spouse.
I did it the opposite way. Also an English major, I taught HS for two years, then quit to get my MBA. We had no kids at the time, so my wife quit her job at the same time, and we moved to her hometown. She found a job right away and after a few tight months, I got an grad assistantship that paid for school. Good thing, because we had a baby half-way through the program.
My MBA program had courses for students who did not have an undergrad degree in Business. The compressed two semester of undergrad econ and accounting into single semester courses, which made for a ton of homework.
I think that will be the toughest part for you, fitting in the homework while caring for a secondgrader. I remember a lot of late nights crunching numbers, interrupted by diaper changing.
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#1965775 - 09/30/14 07:03 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Gold Star
Joined: Apr 2012
Posts: 264
one state over
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I got my master while working full time (with a newborn). fortunately my wife stayed home with the kid at that point. I actually took an accelerated evening program so I got it done in half the time, I had absolutly NO free time. I didn't go hunting for 2 years, I didn't take a vacation (year round program) I worked and studied.
honestly I am still unsure if it was worth it. Not that it wouldn't be worth it for you but i'm pretty sure I could have gotten my current job with or without it and I have a lot of debt from it.
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#1965783 - 09/30/14 07:15 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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10K Club
Joined: Jun 2004
Posts: 19,857
Pulling people out of the ditc...
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several of the local universities offer a Friday/Saturday every other week schedule...of course, that would require your work to allow you to do that, but it beats 3-4 nights per week.
i've known many to do it, certainly makes you work on your priorities
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#1965784 - 09/30/14 07:17 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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10K Club
Joined: Aug 2002
Posts: 34,318
under the Lone Star
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Yes, sounds crazy.
I went full time, of course it was a time quite different from today's graduate level programs. I am not certain the banking experience, if it is primarily compliance related, will be much benefit...just my opinion.
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#1965822 - 09/30/14 08:16 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Junior Member
Joined: Aug 2004
Posts: 38
The Sovereign State Of Oklahom...
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It is a matter of benefit for effort. What will you recieve from doing it and how important is it to you? Will it make you more marketable? Will it improve your posotion within your organization? Or is it just important to to you personally? BTW, the last question is the most imprtant one.
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#1965835 - 09/30/14 08:31 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Member
Joined: Sep 2005
Posts: 50
Kansas
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If it was only for me personally, I would get a master's in something I actually like and enjoy -- history, literature, geography.
The economics direction was based on encouragement from colleagues/superiors I respect who told me they felt I might be a good candidate and that it would probably make me more marketable when I look for another job in the fairly near future.
It would probably have no impact on my current job -- nothing else I've done to advance myself (gotten a bachelor's degree, gotten certified in compliance) has resulted in any significant salary increase. But I don't plan to stay here more than a couple more years, if that, so I'm not sure that matters.
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#1965837 - 09/30/14 08:35 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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10K Club
Joined: Jun 2004
Posts: 19,857
Pulling people out of the ditc...
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what you should be doing is expressing to the superiors why it is important in your current role and what it will allow you to bring to your next promotion at the bank...and why the bank should invest in you by paying your way...
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Providing alternative truths since the invention of time
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#1965858 - 09/30/14 09:17 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Member
Joined: Mar 2013
Posts: 58
Mid West
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Other than having a cool piece of paper granted to you from people with cool pieces of paper. I would take a close look at why you would spend so much of your own time and money to please others. As you noted if it was for you personally you would study other things. At my age I realize I only have the one life so I need to plan one what I do with the limited time that leaves me.
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#1967089 - 10/06/14 01:02 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Diamond Poster
Joined: Nov 2009
Posts: 1,331
Hoosier Country
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I did my master's pretty much right after getting my B.A. Yes, I was working full time. It consisted of going to class Monday and sometimes Thursday nights from 6 to 10pm. I thought it was manageable but it was before I had kids. Getting my master's was important to me personally. It wasn't necessarily needed for my field of work, but I can say now that it has opened up numerous opportunities I wouldn't have otherwise received. It gave me just enough extra credibility (whether it was warranted or not) to get me a shot at some opportunities. Most compliance officers that I know don't have a master's, so it gave me that tiny bit of edge when applying. I also did mine as a M.S. in Organizational Leadership and Administration instead of a cookie-cutter MBA. That has led to interesting discussions about it during interviews. It never hurts - I highly recommend it. You can never regret getting an education IMO.
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Opinions expressed in these threads are my own and not my employer's.
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#1967096 - 10/06/14 01:22 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Power Poster
Joined: Sep 2004
Posts: 5,249
out of the frying pan...
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If you are doing this for career advancement, don't forget to look at your market area and see if it really would give you an advantage. Smaller markets seem to care less about education than experience, though if there is much competition for the positions you are seeking it may give you an edge.
Last edited by RR Becca; 10/06/14 01:23 PM. Reason: afterthought
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#1967125 - 10/06/14 02:56 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Member
Joined: Sep 2005
Posts: 50
Kansas
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Thanks for your opinions and advice, everyone.
I investigated the Economics MA and decided that it was definitely too many prerequisite classes I hadn't taken to be manageable/affordable. I'd have to spend at least two semesters just preparing to apply for the program!
I also contacted the head of the department that's my first choice -- Geography. He said he'd be happy to visit with me about it, and it sounds like I at least mostly meet the requirements for that program.
I'm not at all sure we can afford for me to go back to school, and that's my major concern at this point.
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#1967127 - 10/06/14 03:00 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Power Poster
Joined: Jul 2008
Posts: 4,796
You are here
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Have you considered some of the Online courses and seeing if they are transferable to a reputable MBA program?
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#1967128 - 10/06/14 03:04 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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100 Club
Joined: Sep 2007
Posts: 126
On a sled
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I got my Master's while working full time. I was a part-time student, it ended up taking me about 5 years to finish. I only took one class a week in the evening. I was married with one kid and had one more the summer before I graduated. I still managed to do Cub Scouts with my son and coach his Rec soccer team. But that last semester was pretty rough with the newborn, a promotion, and school all happening at once.
But I spent a lot of lunches and evenings doing homework or papers. Plus, my school was an hour away from home, so that one night a week I never saw my family, they were all in bed by the time I got home.
I don't know if it was worth it. I find for my career (auditing), the certifications seem to have more credibility than the MBA. But when I started the program, I hadn't started in audit yet. I don't think it hurts having it, and I was fortunate that the bank I worked at paid for the program.
Plus, now that my younger sister and brother both have theirs, my Dad is pretty proud to say his kids went 3 for 3 in getting Masters.
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There's never enough time to do all the nothing you want.
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#1967429 - 10/07/14 01:26 PM
Re: Anyone Get A Master's Degree While Still Working?
jaenelle
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Platinum Poster
Joined: Jan 2009
Posts: 682
Midwest
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I am 3 weeks away from my MBA with an emphasis in project management through UoPx. It's been very challenging to take classes on top of working full time and having two kids. I got significant tuition reimbursement through work and since my husband was also doing the program, it seemed to have made sense at the time. It has been very time-consuming and I'm hoping it'll be worth it in the end.
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