Asked by Anonymous
Asked on 19 Sep 2018
I am a graduate with 2 years working experience now and how can I continue to save and keep my savings in check while spending so much for the program?
At the time of writing, I am currently pursuing my MBA at SMU as a part-time student.
It is heck of a difficult question to answer to be honest as your situation and mine would differ by a mile.
I took a pragmatic approach (at least from my point of view),
Timing - I wanted to continue to earn while studying. So, studying while working made sense. Also, I had the "spare time" and to study seemed a good used ot my spare time.
Time to learn vs time to earn mindset. I am doing both. I learn at school and I learn at work. I learn all the time.
Transformation - I paid my tuition fees out of my own pocket. This gave me huge skin in the game motivation to fight to complete the programme.
What did I expect gaining from the programme before joining?
What do I hope to get after graduating?
And I don't know whether SIM Global Warwick will actually help you to solve the last part, which is the most important.
Hope this helps, and you can ping me if you wish to chat.
Pascal - Launchers.Asia
I am also in the same shoes as you. Even though the rest are not exactly answering your question but it questions and answers the later part of the effect of taking a masters, I'll just add my 2 cents. I don't intend to take a loan. Hopefully you have some savings and please get a job to supplement your masters degree payment. Well, at least that's what I am going to do. Savings wise, keep track of all expenses and see if what you want to get is what you need. In other words, be very financially prudent and wise. If getting a masters or grad dip allow you to get the job you want cos of prerequisites or to go up the ladder, then go for it.
Having a masters does not guarantee career progression or salary increment. What you need to ask yourself is whether you are passionate in the field you are pursuing and whether you could benefit from the masters.
I feel that taking up a degree opens more doors of opportunities and serves as a safety net as well. I also believe that it will help with your career progression in the future after you have gained more work experience.
Check out Seedly's article regarding if it's worth to pursue a degree - https://blog.seedly.sg/local-university-enroll-into-private-education-institution/
Does your company or your job scope needs your Master Degree to get a higher SALARY position?
If yes, pls go for it.
If the degree does not secure you a higher SALARY, then let ur working Experience and skills do the magic for you.
Hope my reply helps.
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I haven't heard many people pay for their masters fully. Usually if it's something that will help in your career, you should be able to get a company or industry scholarship for it.