Asked by Anonymous

I’m currently 24 this year. Should I use the money to get a degree so that I’ll have a chance of getting a higher salary or use the money to invest instead? ?

My highest qualification is local diploma and have been working full time and job hop around since I've graduated.

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  • Kok Koon
    Kok Koon
    Level 5. Genius
    Answered on 11 Nov 2018

    Questions for you: 1) What is your current salary and if you stay long in the industry without a degree - on mere experience alone - can your salary go up multifold? 2) Do you have any side hustles?
    3) Can you qualify for local uni? 4) Are you a hustler, resourceful and heavy networker?

    5) Do you have a strong why to make it work regardless?

    Considerations for each question: 1) Some jobs pay very well regardless of your education qualifications. Deliver the results and you get paid handsomely 2) If your side hustles can potentially get you out of a 9-5, or you know how to trade, you can look at using that as your safety net. But mind you - trading for income (or side hustle) with a stable job and without have very different effects on your psychology. 3) Until its proven in the HR world (pulbic and private), local unis are more recognised and much more heavy subisidized. 4) Asking for help/mentorship, being likeable and helping others can get you through tough times. If you are introvert and dont plug yourself into a community actively, investing and 2) is a very lonely process. 5) if your reason to succeed is not strong, you cannot last through tough times. If it's just money and returns on investments, remember 80/20. 80 percent of the results are borne by the top 20 percent of the pple.

    Closing thoughts: the best returns are the investments made to yourself. A degree (from a good school), not only give you academic knowledge but a good network, crticial thinking and skills to navigate globally.

    Although i did not use it for a corporate career myself, ive seen many of my peers using it to launch of careers that has salaries jump multifold and now poached for CFO, CEO roles in bigger SMEs. And they invest. Maybe think 'how can I do both?' vs 'this or that?'

    All the best!

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  • Gabriel Lee
    Gabriel Lee
    Level 6. Master
    Answered on 10 Nov 2018

    I've had the same thoughts before and I feel that you should get a degree first as it serves as a safety net, opens more doors of opportunities and it'll enable you to climb the corporate ladder. No doubt that it'll take a few years and you'll have to pay hefty fees, but take it as a form of investment on yourself and your future. You'll reap the returns in the future after you attain the degree and join the workforce

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  • Daniel Ling
    Daniel Ling
    Level 4. Prodigy
    Answered on 10 Nov 2018

    You might want to mention what is your field.

    There are some fields where having a degree does not necessary matter.

    Generally the answer is yes.

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    • Question Poster
      I took Business Studies in Poly, so it is kind of general
      10 Nov 2018
    • Daniel Ling
      I feel business studies is over rated. So degree does not matter that much. It would be better for you to specialize in something else, e.g.: CFA.
      13 Nov 2018