Choosing a degree is a hard decision to make when you are only 18 and freshly out of high school. So far, most decisions were made for you, and knowing at such a young age what you want to do for the rest of your life is rare. Many people don’t find their calling so young, and end up going back to school in their 30s or even later, to study something they are passionate about. Before you take the leap, you should ask yourself a few questions about your degree.
Degree passion or degree wisdom?
Whether you go for an event management degree course or to law school, there is no wrong answer, but if you go for your passion, you have to make sure there is a solid plan behind it all. Are there actually companies who hire people with such degree? Will you go self employed or start your own company? How much can you make as a starting salary? Would you have to move to get work? Will that area be more expensive?
We are now in a world that tells millenials to follow their dreams and go for their passion. While you will probably be better at it, and have a capacity to earn much more money, it is possible that the opportunities will be scarce once you graduate. Take photography for example. The top 10% of photographs make a living that will not make a City trader envious, but the vast majority barely gets by, doing gigs at the Mall for Christmas with Santa or having no rest during weekends when they shoot weddings. You will have to be the very best in your trade, or be happy with a low to medium income.
With a degree “wisdom”, you may have a more comfortable life, and be able to afford nice things, however, you may get bored out of your mind after a few years. That means you can save enough money to then follow your passion with a savings cushion.
Cost and length of the degree
Another important point is the length of the degree, and its cost. Studying for 5 years instead of two or three means that not only you will have to pay twice as much in tuition, but you will also have to cover your living expenses. Depending on where you study, that can mean $1,000 to $2,000 a month. That is a lot of money. Any year you spend studying is a year you will not spend gathering experience in the workforce. Take a short degree for example. After two years of study, you can land a basic job and get three years of experience, during which you will get paid, and reach a higher salary level in year five. If you go for the five year degree, you will start in year five with no experience, what salary can you get? If it is much higher than the salary of a two year graduate with three years of experience, go for it. However, there are many fields where the latter is not true. People often obsess over long careers, when a practical degree from trade school or community college can be more than enough to get you started as a young professional.
You can also get your degree online, which provides you with much more flexibility than attending classes. For example, an online Bachelor of Arts in Management degree gives you core business skills like finance, accounting, marketing, project management, statistics, and operations management, setting you up for a career in a variety of different industries. These skills are also valuable if you wish to advance into management positions within your current industry, as they can set you apart from your competition. Find out more information by researching online universities offering degrees that interest you.
Latest posts by Pauline (Posts)
- Need to Make More Money? 4 Types of Savings Lurking Right in Front of You - August 10, 2019
- How to be a Million Dollar Freelancer - August 8, 2019
- How Much do Freight Brokers Really Make? - July 27, 2019
- Are You in Crippling Debt? 10 Mistakes Made When Getting Out of Debt - July 13, 2019
- Stop Bleeding Money with These 4 Quick Financial Tips - July 9, 2019