Asked by Anonymous
Asked on 06 Jul 2019
Currently in my second going on to third year of work. My job doesn’t pay well till I hit an extremely senior position. Should I study during the recession since my pay increments have been quite pathetic or should I wait it out and get more experience.. if I study I’ll be able to try out other jobs(similar and related but different) that pay much better. But I currently do enjoy what I’m doing, and I’m learning a lot on the job.
Similar to a trader who is looking to buy low and sell high in the stock market, it is difficult to time the market to know when recession will come. There are quite a few people I know in my peer set who is predicting one, but that doesn't make either one of us expert because it hasn't happen and we can only speculate with the information on hand.
Anyway I didn't want to digress. My point is whether it is recession or not, whether you should study or work depends on your current lifestyle and if you have the means to support yourself if you stop working today. If that is not a concern, then studying becomes an option but not necessarily an essential.
I don't know your industry to advise further but if studying beats practice, and gives you an edge over your peer set in applying for specific roles, then there is no reason why you wouldn't go for it (recession or not is not really a consideration here because the focus should be to improve your skill sets). Instead of it being a choice of either or, I would continue to work, and do some courses /or studying on the side if that is an option (ceteris paribus where you have the headspace to do both)
A few points to consider before making your decision.
I suppose you are a diploma grad going for university
Will you be taking full time or part time university?
Will going for further education affect your income and your financial stability? Are you taking a loan for your studies?
You mentioned that you have been working over 2 years. And the salary doesnt really pay well until you reach a 'senior' position. Does that senior position requires a higher level of education?
Assuming if you dont go for further education and recession really hits, how will it affect your current lifestyle? Are you still be able to live a comfortable lifestyle with your current salary?