My Master's vs DH's job

[Anonymous]

Anonymous wrote:I don't think I'd invest lots of $$ in a master's unless I had it available and could pay cash. I recommend that you get a job in your field, even if it's entry level and then you can take classes toward your Masters as you can afford them.

Do not take on debt to get this degree. Use the degree you have to get a job.

Agree. Don't get the masters unless you need it to do the job. Start of entry level and if you want take classes as needed a masters doesn't guarantee a job .

For me I got a certificate that I completed in a couple of months that allowed me to get a good entry level job and built from there

[Anonymous]

Anonymous wrote:Ignore the naysayers. Start the program and go from there. You do not need permission to improve your situation in life nor to make yourself more marketable. Doing nothing but SAHM will certainly not improve your job prospects. What a load of crap about how you have fund your kid's education first! Is that just your husband trolling and trying to guilt trip you? Why should you be idle while your husband tries to find himself? What if after a few more months he suddenly likes his new job? What will be his reason to prevent you from pursuing a job, then? I see red flags everywhere, but none are about the education.

Does OP need loans to obtain this degree? Is that worthwhile for a job paying $50K-$70K? Yes, that's a nice addition to the family's income, but not if it needs to be financed.

OP, without the degree, what would your salary be? I understand the desire to complete the degree for a sense of accomplishment and the knowledge gained, but all of that still comes at a price.

[Anonymous]

Anonymous wrote:Op, have you saved for your child's education? completely funded? If not your masters is a luxury you can't afford.

It sounds like you're taking on too much debt for too little return.

That's crazy. A master's that helps a SAHM return to the job market? An education and job for the mom is a "luxury you can't afford". NUTS!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op, have you saved for your child's education? completely funded? If not your masters is a luxury you can't afford.

It sounds like you're taking on too much debt for too little return.

That's crazy. A master's that helps a SAHM return to the job market? An education and job for the mom is a "luxury you can't afford". NUTS!

National Women's Equality Day, and women are still expected (often by other women) to sacrifice a career and education for their husband kids. Sigh.

http://www.slate.com/blogs/xx_factor/2014/11/18/harvard_business_school_study_it_s_not_kids_but_husbands_that_hold_women.html

[Anonymous]

I would look into getting an entry-level job instead.

I would also come up with a better childcare plan than "my family and neighbors can help". Family and neighbors make good fall backs, but shouldn't be counted on as your primary childcare for the next two or three years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op, have you saved for your child's education? completely funded? If not your masters is a luxury you can't afford.

It sounds like you're taking on too much debt for too little return.

That's crazy. A master's that helps a SAHM return to the job market? An education and job for the mom is a "luxury you can't afford". NUTS!

I would actually say the same thing if a DH wanted to get a master's degree to make $50,000 per year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op, have you saved for your child's education? completely funded? If not your masters is a luxury you can't afford.

It sounds like you're taking on too much debt for too little return.

That's crazy. A master's that helps a SAHM return to the job market? An education and job for the mom is a "luxury you can't afford". NUTS!

I would actually say the same thing if a DH wanted to get a master's degree to make $50,000 per year.

+1

It doesn't sound like a smart move, period, for OP's situation, regardless of gender.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op, have you saved for your child's education? completely funded? If not your masters is a luxury you can't afford.

It sounds like you're taking on too much debt for too little return.

That's crazy. A master's that helps a SAHM return to the job market? An education and job for the mom is a "luxury you can't afford". NUTS!

I would actually say the same thing if a DH wanted to get a master's degree to make $50,000 per year.

Same here. Masters aren't bachelors, they are wicked expensive and many/most have a very low ROI. My own DH has brought up getting a masters (in addition to his JD) so he can expand into a certain kind of nonprofit work and I was bluntly honest that we cannot now nor likely ever afford for him to take on more student loan debt for a grad degree that won't increase his salary at all. I myself would love to go back for an MBA but we cannot afford it since my employer won't pay for it and the field I'm in wouldn't have the returns we would need to justify it.

[Anonymous]

I'd talk more about the change in lifestyle for your family and any limitations on him and his job search and of course the money for the masters. I bet he's worried about that.

[Anonymous]

Anonymous wrote:I would look into getting an entry-level job instead.

I would also come up with a better childcare plan than "my family and neighbors can help". Family and neighbors make good fall backs, but shouldn't be counted on as your primary childcare for the next two or three years.

Yup, at this point the plan is a little half-baked. Is the cost of the masters program really going to produce returns higher than spending that time working a full time job instead? There aren't that many masters programs that actually produce a meaningful increase in starting salary so you may be better off putting that time into gaining more experience. It really depends on the field.

[Anonymous]

Your husband is right. You want the degree for the sake of the degree. You really haven' t though through the financial cost vs. payoff (income) aspect. Education expense is no different than investment expenses. You have to be able to recover those costs plus make a profit within a reasonable pay-off period. Unless you have a high probability of doing this its a waste of time and money.

Evidence. A few years ago I attended an information session at a well respected regional business school. the approximate cost of the MBA was between 80 - 100K. During the session they had the top 10 graduates of the previous cohort available to answer questions. I asked the group what their income was prior and post getting the MBA and what their title/position was. Every one of them was in the same job with the same pay except for one person. Each of them now had debt except for one person. The one person had negotiated in advance for their company to pay the tuition and that he would get a pay raise when he graduated BEFORE he started the program. Three of the people were unemployed. One was a SAHM who thought an MBA was he "ticket." She stated that the most value she got out of the program was "connections." I asked her how her "connections" were helping her. She stated that she uses them by occasionally meeting with them and having coffee.

Bottom line. your doing this has the significant potential to consume family resources and not produce any benefit for the family. In other words this is most likely a selfish ambition UNLESS you have clear and convincing evidence (i.e. a written agreement from a current employer) outlining how the investment will help you.

[Anonymous]

I would find a job that has a tuition reimbursement program. Then you can work and have the company help pay for the degree (assuming the masters is desirable in your field).

[Anonymous]

I can't be the only one who read this and thought OP was comparing her DH's job and her Master's job.

[Anonymous]

Why am I thinking that this is one of those waste of time masters that DC area SAHMs LOVE to get -- public health; public policy; non profit administration etc. And at the end while you come out with "connections," you're still only looking at a 50k job. Strictly from an ROI perspective, it isn't worth paying 50k/yr for 2 yrs for a masters that will result in a 50k job.

[Anonymous]

Anonymous wrote:If you're set to start next week, then isn't this semester already paid for?

Try it for a semester and then re-evaluate.

+1. Why would you lose the money you already paid for the first semester? DH should have spoken up sooner.