Get the Biggest Bang for Your Buck
Written by Elaine Seat, PhD
GETTING A DEGREE
First, if you don’t have a degree, it’s time to get started. It’s easy for working adults to get distracted by the logistics of meeting a job schedule while attending school. Keep in mind that the field you choose will have a big impact on the job you eventually get.
When you earn a bachelor’s degree, it’s best to get a degree that supports your career choice. Here’s how this works. I recently met an Air National Guard active duty officer who had an undergraduate degree in geography plus an M.B.A. His work with the military involved systems engineering for mobile instrumentation vehicles; it postured him for a great job in private industry working with space systems computers and software. He had been approached by several private companies who recognized applied expertise and maturity. However, all of his offers fell through because he did not have an engineering degree, and the work required those credentials. The bottom line for him was that his experience may have been in the engineering/technical arena, but his education was not. He’s now starting to consider a third degree in engineering.
Decide what you want to do and get a degree that supports that decision. You can ask individuals who have the job that you want about their credentials and how they got there. However, this approach can be tricky. Career ladders for upper-level positions can have different requirements than they did previously because there are more degreed persons available to fill the slots. Do a little research on the credentials you need by looking at job advertisements in both the commercial and private sector to get an understanding of the credentials your competition will have for your dream job.
CONTINUING YOUR EDUCATION
If you have your first degree, it may be time for a graduate degree. If you plan to be a researcher in your field, continuing with a master’s or Ph.D. in the same discipline can provide you with the additional skills, background and way of thinking to move to the head of your discipline. However, very few disciplines stand alone in today’s world. You might benefit from adding on a new discipline with your graduate degree.
For instance, you might add a graduate degree in IT to an undergrad degree in engineering or a mathematics graduate degree to a geography undergrad. Be aware that many technical disciplines have strict pre-requisite requirements, and you may need a year of preparatory work to have the proper background to start.
For many people with a few years of experience, an M.B.A. (Master in Business Administration) or master’s degree in another discipline may make sense. If your job has migrated from doing to managing other people, degrees that give you exposure to business and management skills can expand your thinking and better posture you for excelling in management.
An M.B.A. provides you with an index to the business world. It prepares you to work with and manage the different parts of business. An M.B.A. is not an automatic ticket into management, but with the skills of thinking about how money works, managing for success, and strategic versus tactical thinking, you will be able to rise above your peers and posture yourself for that next position.
GETTING REAL ROI ON YOUR INVESTMENT
A great many of your peers are going back to school. As you consider that choice for yourself, you can take the necessary steps to improve your return on investment. Given the time and financial investment that you will be spending— be an informed and cautious consumer.
Make sure that your degree is from an accredited program. Being accredited means that the degree program meets national standards for granting that particular degree. A university isn’t accredited— the degree is granted by an accredited department or topical area. Courses and degrees from non-accredited entities may not transfer to other schools or be acknowledged by employers and licensing boards.
Secondly, choose a relevant degree and coursework. Some people believe that all you need is a degree to be set for that next career move. The education you get from a degree that is relevant to your job or field will help you stand out in your crowded workplace. People don’t get jobs based on their resume alone—personal recommendations from present managers can open many doors for you. Use your new knowledge to shine, and let them know that you are capable of much more.
Finally, as a consumer, you need to recognize that educational programs are a business venture. Programs want to accept you because they are in the business of educating people. Go beyond their on-line infomercials and ask about their acceptance rate. Ask to speak personally to a few of their degree or course graduates who match your background so that you can find out how the degree has paid off for them. It’s your time and money, so invest them with the full knowledge of what to expect in return.
Once you get your educational foundation and your first job, you’ll decide your next step based on where you want to go. When you take this step, try to get a credential out of it. It’s great to take short courses and to learn new skills. However, make the most of your training, and whenever possible, take courses in sequences that end with awarding you a certification, license or degree. These credentials will build your resume and are a quick way to let prospective employers know your skill set. ♦
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Elaine Seat, P.hD., spends her time developing the next generation of aerospace professionals as director of the aerospace M.B.A. program at the University of Tennessee.