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You're $83,000 in debt and you want to pile another $20,000 onto that for a year or two at school? There really is no escape here..take the job, spend every dime you earn to pay down your debts, and once you're free you can blow what you make on another adventure in college. If you're lucky you might be able to pay it off by the time you're 35.
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Oct 5, 2015 01:25
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| # ¿ May 21, 2024 11:48 |
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It wouldn't be if that's the actual salary you'll get right away and you're guaranteed employment making that. Do you know both of these things to be true? Have you asked these people who you're referring to? You really should sit down with an excel sheet and run a DCFA with various models of the options you have. Once you have that value over 10, 15, and 20 years, consider the debt you'll have to pay and whether it is a good option. I'm incredulous about the odds of being guaranteed a 6-figure salary simply because you get a master's degree in whatever, but I could be wrong.
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Oct 5, 2015 12:40
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Tenacious J posted:Well I hoped that getting a master's would have made things easier for me, but I'm not feeling it. If you meant you were incredulous about the diploma.. Actually i know someone who did two years of power engineering right out of high school and made over 200k the next year, but that was pulling off 12-16 hour work days in the oil sands when they were in full swing. Still, there are 2yr technical diplomas around here that will garubtee six figures. Discounted cash flow analysis...it's a model that can find the present value of your professional work based on the salary and growth in that salary over a certain number of years. You probably won't like to hear this, but it sounds like you took that master's program purely because you didn't know what to do with yourself. Your best bet is figuring out a clever way to make money with the skills and aptitudes that you already have as opposed to forever longing for some magical fix to your problems in the form of another degree.
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Oct 6, 2015 01:59
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