Completing a higher education degree is an important milestone in an individual’s life. A great deal of time, energy, and other resources must be expended to achieve this outcome. But the trade-off is most often worth it: your qualification can ultimately determine what you’ll be doing for the vast majority of your lifetime.
While further study is not for everyone, it does allow for potential growth in your skills and the level of knowledge you have on a particular field, which can boost your remuneration, expertise, and competitiveness in the job market. In this article, we’ll discuss the many questions that need to be answered to make an informed decision about your future educational pursuits.
Will further study help me get a higher income?
At the end of the day, higher degrees need to justify a good return on investment. After all, if it’s something you’re going to put in the time, effort, and money into pursuing, you are going to want to make sure it actually pays off in the long run. Yes, one of the primary goals of further study is often to increase our earning potential. To verify the same, you’ll need to research whether the degree you’re considering leads to higher salaries in your field. Some fields, like finance, healthcare, and data science, will generally tend to reward better qualifications with higher pay.
When it comes to making sure that the same applies to your field, there are a few steps you will want to take to double-check if it will be worth it for you.
To begin with, you should look into salary data published on trusted platforms like the Australian Bureau of Statistics. You can also look into salary guides from recruitment agencies like Michael Page to see what the industry standards are for specific job titles and qualifications. This way, you can get a more accurate picture of what other professionals are earning in these roles.
Along with looking at salary data, you should seek out current job listings to see what organisations are asking for when it comes to the required qualifications. Are they after just a Bachelor’s degree, or are they looking for more advanced certifications?
Reach out to your colleagues or professional network and those currently working in the role you’re seeking to move into. Having conversations with others is a great way to learn about their personal experiences, including how they find the work, remuneration, and getting any advice on moving into the position yourself.
The reality is that pursuing a degree with no material benefit could turn out to be a financial burden in the long run. So before you make your decision, you’ll need to do your due diligence in researching and reviewing where the industry currently stands.
Do I need to refresh my skill set?
Job roles and responsibilities are constantly evolving. Recent advancements in technology, such as artificial intelligence, have changed the repertoire of skills that an ideal candidate needs to possess. Even in traditionally stable industries like law, accounting, education, and healthcare, job roles, technical requirements, familiarity with new tools, and expectations are shifting rapidly.
If you’ve been out of university for a long time, it makes sense to refresh your skill set with the latest demands of the industry. This could look like doing your own independent research after work and on the weekend by attending webinars, conferences, and networking events, or even completing online modules and short courses.
But sometimes independent research isn’t enough, and enrolling in formal qualifications is necessary. Make sure the curriculum of your preferred degree has units that align with emerging industry trends. Look for degrees that offer practical exposure and insights through internships, case studies, industry projects, or guest lectures by current professionals. Courses that mesh widely used software, data analytics, or sector-agnostic tech skills can help future-proof your profile and increase your relevance in a volatile job market.
Will more study lead to better job opportunities?
If you’re craving a career pivot or a climb up the corporate ladder, a shiny new degree might just do the trick. Ultra-competitive fields tend to have higher qualifications as a differentiator for higher positions. A degree in a field you have barely worked in your life (but wish to) could also be a great segue to finally making a much-needed switch and getting your foot in the door of a fresh, new industry.
The key is to identify whether a higher qualification is a must-have minimum requirement for your desired level of job, or just a finishing touch that would be nice to have on your CV. This can be determined by scanning job listings on popular sites like LinkedIn, Seek, or Indeed, and also talking to people who are already working at that level.
Do I have time to complete further study?
Time is a valuable resource. It becomes even more valuable when we’ve got a lot on our plates. Between juggling full-time work and a number of personal commitments, it can be challenging to find the right balance for it all. So, how do you do it all? The key is to maximise the time we have and to utilise it as productively as possible.
If you want to continue working while studying, online options offer a time-saving hack to completing a degree. With the ability to choose from an Accelerated Bachelor of Nursing to advanced options like a Master’s Degree in Education online, there are options available for every area of interest. It could also mean opting for part-time study rather than full-time, allowing you to keep your current job while slotting in study after work hours.
Making Your Decision
Ultimately, deciding whether pursuing further studies makes sense for you depends on your career goals and life circumstances. When considering higher education, be sure to research the potential impact taking on a study workload will have on your lifestyle. Is the sacrifice worth the payoff? For many of us, higher education is a worthwhile investment in our future.
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Deputy Editor
Features and account management. 3 years media experience. Previously covered features for online and print editions.
Email Adam@MarkMeets.com
