Value of Degree

[tim2100]

Need a bit of advice. Last year I completed a HNC at pretty much all distinctions and have raised with my newish employers (just over a years service) the possibility of doing a degree.

The degree in the area I work is Electronic Engineering, which is only available as a part time day release course for 3 years.

I don't think the course will help with my current job but will help with the prospects within the company and for getting other jobs in the future.

My boss told me today that I can do it and they will give me the day release, however i will need to pay for the cost of the course.
This is a stumbling block as i can't really afford the 2.2k pa the course costs but i think it will be worth it in the long run.

Do you guys think that paying 6.5k for a degree out of own pocket worth it?

[ewenm]

I can't say whether that particular degree would be worth doing, but to get a degree with £6.5k of debt for it is pretty good nowadays. Plenty of students are leaving Uni with £15k and above of debts.

[Pooh]

How much more money will you make if you get a better job within the company once you have your degree?
£6.5k sounds like a lot of money but assuming that you are still young it will almost certainly more than pay for itself over the rest of your working life.
I have spent a fair bit doing an Open University Geo-sciences degree over the last 6 years, it may never pay for itself but I still think it is worth doing so I would say go for it if you can.

[DownUnder.]

I think the main benefit of a degree now days is that it shows you have taken interest in higher learning. 6.5 K debt is by no means big.

I start in a week and i've got a break down of what i'll be borrowing.
£9.8 k student fees
£11.2 k student loan
£3k Overdraft

Possibly more, then i intend on doing a masters which will be
£9.5k student fees
£3.6k maintenence.

Trust me, your lucky!

[Spiritual_Beggar]

Experience over some text-book warrior anyday!

[Pooh]

Spiritual_Beggar said:

Experience over some text-book warrior anyday!

I agree up to a point but there is no harm in having both and doing the degree day release allows him to get both.

[Frankeh]

I believe it depends on what you're doing at uni.

[Tea of Teabaggin]

If you are not going to get any further recognition in your current job it wouldn't seem like the best idea. However, this is a long term thing a degree stands up much better than a HNC when applying to other jobs perhaps in the future. If you've been allowed the day release then go do it. From experience it is better to get degrees out of the way when young then concentrate on building up your exp. With a degree more opportunities may come up anyway, plus if anything networking with guys working for other companies might open up a few doors.

[Dupont666]

tim2100 said:

Need a bit of advice. Last year I completed a HNC at pretty much all distinctions and have raised with my newish employers (just over a years service) the possibility of doing a degree.

The degree in the area I work is Electronic Engineering, which is only available as a part time day release course for 3 years.

I don't think the course will help with my current job but will help with the prospects within the company and for getting other jobs in the future.

My boss told me today that I can do it and they will give me the day release, however i will need to pay for the cost of the course.
This is a stumbling block as i can't really afford the 2.2k pa the course costs but i think it will be worth it in the long run.

Do you guys think that paying 6.5k for a degree out of own pocket worth it?

Try doing a degree in another country and you will have to do that anyway.

Most people coming out of degrees now, do so with circa 20k in debt.

Also be glad that your current boss is allowing you to do it when you say its not actually going to aid him in anyway if you do it other than lose an employee part time for 3 years.

What you could do is ask them to sponser it but be prepared to do something like offer 2 years of additional service after you have finished or the chance to pay it all back including interest if you leave them or fail it.

[crofty1984]

I'd go for it provided you can keep working like you say. It's a good degree to have.
Oddly I think that with every man and his dog doing bullst studies, the value of A degree has gone down. However, because it's so easy to choose something like bk-juggling, the value of a GOOD degree has gone up.

[stefd]

A degree is far more than simply a qualification. You'll actually learn something!

I did a part time Building Services Engineering degree (took 4 years) on day release and I find that I'm being promoted faster than others, not because I have a degree, but because I am now a better engineer. I can assess situations/problems and come up with solutions far better than collegues who have not been to university.

So it's not only about the bit of paper or the direct impact it has on your career but rather the long term benefit of understanding principles and being able to see the bigger picture that university teaches you.

I say a degree is invaluable and at the cost you're going to have to pay, a no-brainer.

[tim2100]

Thanks for replies, just to add some background, I have recently turned 30 and have only been in this industry for aroudn 3 years.

originally I asked for my employer to pay/sponser the course but that has been turned down, Originally when I asked about a course it had to be remote for them to support me, i then asked for funding & time off, they came back today saying timeoff only. I don't want to upsest the apple cart to much as electronics industry is generally on its arse, but slowly picking up, at least this way we have a long term commitment on my employment.

I was made redundant last year 1/2 way through HNC and fortunatly they employed me and gave me the day release to finish the HNC. I am doing well to get the time off. Getting into further debt to pay for the course is not an option, so will need to try and find the money from somewhere.

[Spiritual_Beggar]

Frankeh said:

I believe it depends on what you're doing at uni.

This.

There are a lot of non-degrees out there that are only about so that more people can go to uni. Remember, this was one of Labours big policies; to get everyone going to uni and diluting the quality of a degree.

There are certain things that you can only gain knowledge in at university, and certain jobs that require a heavy amount of study before even being able to atempt to get experience (medical fields, etc), but there are a lot of careers and industries where learning as you work is the best way.

The reason I prefer actual experience is that what they tell you in a book is one thing, but how it all works in real-life is often completely different.

I'm a big fan of contiual improvement, and training schemes for people already in a career. It allows them to actually practise what they are learning straight away.

[jcelee]

The biggest value of a degree in my opinion is its ability to signal your inherent abilities, commitment and determination. Nobody can take that away from you and it will hold you in good stead through thick and thin in your career and in the job market. As someone else pointed out, academia is not without merit and you will learn new skills and techniques that will enable you to grow your career more quickly too.

[blank]

Are you eligible for a student loan?


I'm guessing doing the degree will make it a lot easier to become chartered? If so, I'd go for it. I believe Engineering is one of those areas where it's difficult to get above a certain level unless you've got the degree/charter ship boxes ticked.

[Lefty Guns]

Spiritual_Beggar said:

Experience over some text-book warrior anyday!

That's a wee bit blinkered IMHO.


OP, the degree probably won't help you in your current job as you already realise but it's likely to help a lot when you're looking for another (better) job.

To me, the degree is only a thing which gets you into an interview.

I'm a quantity surveyor, I spent 5 years at uni to get an honous degree. My current job has nothing to do with anything that I did at university but that degree got me into my first few jobs at the right level to give me the right experience for the next, always better, job...

And for what it's worth, there are guys that I went to uni with who left after 2 years with an HND who still work as QS assistants earning £25-30k/year. I work as a consultant and charge £60/hr (+VAT).

I work in a multi-discipline design office for a large Oil operator. We have 8 or ten electrical/electronic engineers and every one of those guys has at least one degree. And not one of them will be on less than £50/hr.

So as far as I'm concerned it's definitely worth it.

[Lefty Guns]

crofty1984 said:

the value of a GOOD degree has gone up.

Absolutely spot-on.

[Mattt]

Will you stay on same salary, or reduce to 4/5? If same, no brainer IMO.

[Cymon]

Go for it, nothing ventured nothing gained.

[Jasandjules]

Your firm sounds like a good one to work for. I'd take what they are offering with both hands if I were you.