Is Going Back to School a Good Investment?

A few people have recently told me that they’ve been wondering about going back to school, to advance or change careers. Is it the September memory of fresh crayons and new clothes? No wonder! Here are my two cents worth on the subject.

I love learning and have studied more avidly post-university, so I get it. But learning can come in many different ways. Having worked in 3 post-secondary schools and universities, I have seen many a student invest a year or two and $10K-40K in that effort. Typically about a 1/3 of them really wanted to be there and it is in alignment with their goals. The rest came because:

  • their career was stalled
  • they wanted to make more money so thought another degree would do that
  • they felt lost and wanted school to reconnect them to credibility and rank and opportunity
  • they wanted to buy time (e.g. look like they’re doing something useful and important) while they figure out what they really want

Sometimes a course can solve these issues, but for the majority it doesn’t. So if you’re considering the same thing, I urge you to really know the reasons behind what you’re seeking so you make the best decision for you

Most people are avoiding what they actually need to do:

  • pursue their real dream
  • take new (scary) action to achieve their goals
  • invest in support to create the changes they need
  • begin asking important questions to know what they truly want for fulfillment

My most common recommendation to clients is once they know what they really want (the question we begin with), do it now in whatever form you can. Don’t put it off for further “preparation”, more research, more courses. You’ll be in the same place a year or two later, although with a new piece of paper in your hand, looking for a job or starting/growing a new business (the thing they’re usually avoiding). 

Instead, (1) go to successful people in the industry, see what is really needed to create what you want. (2) Hire a coach to walk you through the steps of self-understanding, identifying and assessing options (not career tests and assessments that tell you little you don’t already know!), and/or (3) invest in the business you actually want to grow (resources, support, and/or coaching). Do the work you’re meant to do, now. Get feedback and then make the next decision. 

Most of the time what’s really needed is confidence, belief, action, new thinking, support, working through the mess of confusion to clarity.

If I could’ve coached 2/3s of the MBA students before they opted for another degree, I know they would’ve been happier and more capable of pursuing better opportunities for themselves. And if they still chose their MBA, they would’ve made better use of it, instead of passively hoping that a piece of paper would open doors.

(p.s. I left these jobs because most students expected a job to be handed to them and didn’t want to do the work of creating opportunities. I work better with people who desire to grow, expand their lives, and have an entrepreneurial spirit, which is my real passion.)

5 Questions to ask yourself:

  • What is the end result I desire?
  • What may I be avoiding by going back to school?
  • What do I want schooling to really give me? Can I get it some other way?
  • Do I have the information I need to know that it is the best investment from real people in the industry and from my own heart?
  • Is there anything else that is actually more important to me that I haven’t allowed myself to have? If I got ‘that thing’, would I still go to school?
Is Going Back to School a Good Investment?

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