If you are currently working at a job you despise or you are unemployed or see no future at your current company, you may have to decide whether to go back to school or to look for a new job. If you are considering returning to school, there are several factors you should consider before you enroll.
First, how will you benefit from going back to school? If getting a degree will only help you get a higher paying job that you dislike, it may not be worth it. Or if you are unsure of what you want to do, going back to school may be a costly way to find out. Research careers that you are interested in and interview people working in that field to be sure it is a good fit for you.
Second, can you afford to go back to school? You not only need to consider the financial cost of enrolling in classes but also the significant time commitment required to succeed in school. Although many schools offer online programs in which you can primarily go at your own pace, these programs still demand considerable amounts of time for studying and completing tasks (not to mention lots of self-discipline to stay focused). Also, you lose income for all the time you spend going to school and not working.
Third, are there jobs available for which you already qualified and would enjoy doing? If going back to school isn’t right for you, you may be able to find a job for which you are better suited. There are many online resources to search for jobs and post your resume for potential employers including monster.com, indeed.com, LinkedIn, careerbuilder.com, and ziprecruiter.com just to name a few. Whatever you decide to do, be sure to do lots of research, consider all of your options, and talk with those closest to you in order to make the best decision.
-Kathryn M.
Sage Personal Finance 