How much education is enough? And should I pursue education for the learning, or to become more promotable? Is it worth the money? These are some of the questions my coaching clients are struggling with. As working professionals, most of us pursue education at night, at a high cost to our personal lives. Not only can the financial costs be high, but the time and energy needed can detract from our families and interests.
Begin by looking at the two main reasons to pursue more schooling:
1) Get schooling to learn. This one may seem obvious, but it's not always the primary motivation. When you look at the "bread and butter" classes of an MBA, they are not always enticing. Even if you love part of it (Finance) you may hate another part (Marketing). If you can find a subject you're passionate about learning about, all the better.
2) Get schooling to advance. This was my initial motivation to go to grad school. At the time I had planned to get an MBA to be competitive for an HR Director job. Increasingly, managers and leaders are being pressured to seek degrees to simply remain competitive, or to be promotable.
Let me start by saying that either one of these reasons is fine. But if you can find an intersection where they both meet, you'll be happier. Try and hold out for both.
A Checklist for Leaders who are Potential Students:
1) What do I want? - A promotion? More expertise? A new career? Letters after your name? Be clear about what you want.
2) Will I get a financial return? - Spending 50K on a degree to earn an extra 10K per year may be worth it. Spending 50K to make a lateral move may require more thinking. You are not required to get a financial return on your education, but at least be self-aware about it.
3) How will this impact my life? - A rule of thumb is to plan for 2 hours of homework for every one hour in class. I had to drop a volunteer job when I went back to school, and I stayed home working while my friends partied and went camping. What will you exchange? Is it worth it?
4) How do I learn best? - I've taken online classes, live classes, and mixed format classes. I have also taught these formats as an adjunct professor. It's my view that purely online formats result in a lower level of learning for most people. (Lower doesn't mean terrible, just simply lower.) There is simply a quality of education that you get by being in a room of learners that you can't replicate by distance learning. If you're looking at a 100% online program, be aware of the trade-offs.
5) What kind of schooling interests me? I mentally group schools into three categories. "Status Schools" "Niche Schools" and "Practical Schools."
Status schools are those ones that are very selective and which give you a sense of prestige by attending. (Think Harvard, Wharton, and sweater vests.)
Niche Schools are those which tend to be smaller and a bit quirky, with programs that differ a bit from the norm. (Antioch Seattle, where I went for my M.A., is one example.)
Practical Schoolsinclude ordinary state universities and national chains, such as Washington State where I went as an undergrad. (Go Cougs!)
The type of school you attend doesn't have much to do with your quality of education. There are great schools and less great schools in all three categories. If you are not sure what you want, I recommend you check out at least one school from each category.
10 Tips for those Considering College as a Working Adult
1. Take advantage of tuition reimbursement at work, and ask if it isn't currently available.
2. Consider alternatives to the MBA. I started out looking at MBAs, but ended up being drawn to Organizational Psychology. Play to your interests, not to what others say you should learn.
3. Go to open houses, but also try to reach out to professors, students, and alumni. Get multiple views.
4. Check out programs that make you curious or even a bit anxious. That's a sign you're on to something exciting.
5. Consider the difference between being taught by career professors, and being taught by people who work in the field you want to get into. Both have advantages.
6. Be prepared for some delightful surprises. If you do go to school as an adult, you might find yourself re-igniting your passion, making new friends, and changing your life. Education, done properly, can change your life!
7. Don't feel the need to go to school because you "should." Make a choice that makes sense for you, both financially and professionally. Declining schooling may be the right choice for you.
8. Ask for your family's support and talk about what will happen. I couldn't have made it through my MA program without the support of my hubby, who never complained when I spent weekends locked in my office writing papers. Who will support you? You'll need them!
Any other views on going back to school? Your comments are welcome.
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