Career decision.

[iGas]

Would you go back to school knowing that you will lose $82,497 of wage to make $15,735 a year more than the current wage?

Thank you.

[update]

My bad,

School = 3 sessions at 2 month each.
I will have to take a wage cut during the 3 years of training/school, totaling of $82,497 for retraining, and company will pay for tuition.

Current base wage $83,165 (include retirement matching) wage will increase to $98,900 (include retirement matching) ++ any average base raise that applied to the position during the 3 years while I'm on training/school.

 

[Dacalo]

For how long?

So you will be making $133k after rather than $120k currently?

How much is it to attend?

Lack of information fail.

 

[xSauronx]

Originally posted by: Dacalo


For how long?

So you will be making $133k after rather than $120k currently?

How much is it to attend?

Lack of information fail.

yeah without more information it sounds like a bad idea. there must be more income potential than just the 13k/year, right?

 

[nerp]

How much would the schooling cost? How long would it take?

 

[vi edit]

After taxes you are looking at like $700 a month more in you pocket. If you are out one year for schooling you need to work like 10-15 years to make up the difference. Two years and it's 20-30 years.

Not worth it. Unless the quality of life with the job/career paid off in a lot of intangible ways.

 

[Zim Hosein]

Topic Summary: Serious answers only please.

:laugh:

 

[iGas]

[My bad, please ignore this post.]

School = 3 sessions at 2 month each.
I will have to take a wage cut during the 3 years at school, totaling of $120K for retraining, and company will pay for tuition.

Current base wage is just under 80K, wage will increase to over 90K ++ average base raise per annum once school is completed.

Unless the quality of life with the job/career paid off in a lot of intangible ways.

Much better career path (higher potential for overtime & job security), and lower stress.

 

[Newbian]

Originally posted by: Zim Hosein

Topic Summary: Serious answers only please.

:laugh:

It's always Zim's fault. :|

 

[Zim Hosein]

Originally posted by: Newbian

Originally posted by: Zim Hosein

Topic Summary: Serious answers only please.

:laugh:

It's always Zim's fault. :|

Sure, blame me for pointing out the obvious Newbian!

 

[Baked]

Your name is igas, and you want serious answers?

 

[Newbian]

Originally posted by: Zim Hosein

Originally posted by: Newbian

Originally posted by: Zim Hosein

Topic Summary: Serious answers only please.

:laugh:

It's always Zim's fault. :|

Sure, blame me for pointing out the obvious Newbian!

I am just mad at you since you beat me to the punch.

 

[lupi]

Originally posted by: Baked
Your name is igas, and you want serious answers?

he wants ianswers,

 

[Newfie]

Originally posted by: iGas

Would you go back to school knowing that you will lose $120K of wage to make $13K a year more than the current wage?

Thank you.

Forgetting about the money, would you be happier in the long run?

 

[Matthiasa]

If you?re planning at staying at the company for the foreseeable future(10 + years) it might not be a bad idea. However if that is not the case then I would advise against it, as you would then also have to most likely pay them back tuition as well raising the time it took to make up that lost income past any appreciable point baring working for a great many more years... given your age was not stated.

That is of course assuming the tuition costs weren?t already deducted from your income. If they already were and you are planning on working another 10+ years, you have nothing to lose.

 

[xSauronx]

Originally posted by: iGas
School = 3 sessions at 2 month each.
I will have to take a wage cut during the 3 years at school, totaling of $120K for retraining, and company will pay for tuition.

Current base wage is just under 80K, wage will increase to over 90K ++ average base raise per annum once school is completed.

Unless the quality of life with the job/career paid off in a lot of intangible ways.

Much better career path (higher potential for overtime & job security), and lower stress.

unless you have no life and plan on keeping it that way, higher potential for overtime sounds like crap to me....actually this entire plan sounds like crap. lose 120k of income only to have to make it up in overtime over god knows how long? meh.

if itll make you happier, like really happier and youre not really happy, then ok, that might be worth it, but just for money? doesnt sound like it to me

 

[Cheeseplug]

Originally posted by: Newfie


Forgetting about the money, would you be happier in the long run?

 

[Jadow]

not in this economic environment

 

[iGas]

Total of $82,497 lost in wage in 3 years to make $15,735 a year more.

$83,165 = current income (not including overtime).
- $82,497 = lost of wage during 3 years of school/training.
$98,900 = new wage after completing school/training (not including overtime).

 

[ddjkdg]

I'd do it. If you stay in that job with your current employer, you'd make the difference back in a little over 5 years after you finish retraining. Assuming you are in your 30's you still have 20+ years in the workforce ahead of you so that is a lot of extra earning potential. But if you are in your late 40's for example, and want to retire in ~15 years, it'd probably be a waste of time.

A chance to go back to school and have someone else pay for it is a golden opportunity. Higher salary + better job security + promotion potential + more attractive/marketable to other companies down the road. Not to mention the intangible benefits of improving yourself in general by acquiring new knowledge and a better education.