We all need to make informed decisions in life! So, thought to share the points I listed down for an online discussion through Youth Economic Forum’s platform in Pakistan. Please feel free to message me on Facebook, Amna Sabahat or Twitter @amnasabahat and I would be happy to help you with the process of making an informed decision.
My notes based on the questions given before the session are given below:
Discussion:
- Does the chosen field demand a Master’s Degree in the same program? And so considered part of the cost of entry?
Step 1: Think about does this field align with what you feel the most passionate about in life? When we guide or mentor young generation, we often overlook this aspect. It is more to do with the kind world we have created which is largely focused on economic returns when it comes to a profession and career. I am not saying give less importance to your financial needs or ambitions, all I am saying is that be mindful of the choice you make, and rationally decide about the compromises you will make for this choice.
Step 2: Brainstorm, list down, and evaluate what are your long term plans? Will your particular skill or skills be needed in couple of years/10 years/20 years, given the changing work environment because of (my favorite) Fourth Industrial Revolution. Research on what will be the most probable demands of work environment in your respective area of study and how best your degree can add value to it.
Generally: After doing this exercise as far as money is concerned if that’s also aligned with your passion in life, I am very optimistic that it will be worth it and it would be able to make up for the cost of a master’s degree in terms of time taken off from work and financial spending in few years. Of course, given that you don’t enter the job market during a recession or pandemic but some get lucky during these times too.
- Is it true that a Master’s Degree in the same program can either make or break your salary prospect once career starts?
It certainly depends on the field but I think in most cases if you opt for the top universities with strong commitment to deliver the most updated knowledge in the form of curriculum and research, multinationals – especially the corporate sector – wants to get you before anyone else in the market does.
- Does a Master’s Degree in the same program necessarily promise high job placement rates?
Like I said before it depends on how relevant to job market around that time and external variables like recession, political stability, and pandemics.
- Do you agree that Master’s Degree in the same field can be avoided if : You haven’t yet entered the workforce and to try out a particular field and discover whether it’s really a good fit.
I strongly believe that one should get professional experience of at least two years before going for their master’s degree because it adds a lot to one’s understanding of the applicability of knowledge learnt during undergrad and industry practices.
- Could invest directly in the career (be it full-time or part-time) after a Bachelor’s Degree
Yes, your experience will strengthen your master’s application showing what your journey so far has been and how master’s degree will add on to where you want to get in life professionally. In addition to this, your experience will always be on your CV and employers would/ideally should be preferring you over candidates who don’t.
- The field you’re interested in doesn’t require advanced degrees
I cannot comment on it much because yes for certain fields we only need skills and degrees don’t amount to much, but again going if you acquire that skill-set from a top university, it will add more credibility to your job application. This is what I see for the next 10 to 20 years at least.
- High job placements and salaries aren’t necessarily guaranteed in your workplace.
That’s is also the way we have designed work environments. I might be generalizing but limited corporate sector is extremely competitive paying really high salaries but with little to no regard to providing job security and addressing employees’ mental and emotional well-being. It is the compromise I was referring to earlier. So, yes job security is an issue there.
Link to the online discussion: https://www.facebook.com/youtheconomicforum/videos/767069870774302
WE LIVE PERSPECTIVE NOT LIFE! 