Is more education worth it?

I entered the workforce with a Bachelor of Arts and a Diploma in the field that I work in.   Recently, the university where I obtained my Diploma have expanded the diploma program into a bachelor program.   Since I already have a bachelor degree, all I needed was to take another 7 courses to obtain a second bachelor degree.

The new job that I started in 2012 has a benefit where they will pay for any education as long as it is related to my work.   Whenever I mentioned my studies to my friends, I always get this question: If you are studying more now, will you be getting a higher salary once you are finished with the degree? 

My answer is always: No, I will not get a raise after I obtained the degree.

Most of them would then follow up with a comment like this:  What? No raise? Then why are you doing it? You are wasting your time!

My answer to those who asked would be:

First, my work is paying for it.  Each course cost about $700 – $800 (books included) and I need to take 7 courses to finish.  My work is actually paying me an extra: $4,900 – $5,600 (it is not even a taxable benefit, they just pay the tuition for me) on top of my salary so that I can further my education and receive a higher qualification.

Second, with a higher qualification, if I ever want to leave my workplace or if I get laid off, I have that extra piece of qualification to negotiate for a higher salary in my next job.  Besides, you never know when you need it, it might just put you ahead of your competition.

In June this year, I have finally completed all my 7 courses!  I didn’t want to risk dragging on my studies in case that benefit changed so I doubled up my course load in the past year and finally completed my second degree!

If you were in the same situation as I am, would you have gone ahead and still pursue the second degree? 


~ The Money Pincher ~



2 thoughts on “Is more education worth it?

  1. Pingback: 2014: The Past, Present and Future |

  2. Pingback: Did I Hit the 30 Financial Milestones You Need To Hit By Age 30? | The Money Pincher

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