The decision to go back to college at any level merits a lot of debate. All sorts of implications need to be considered before taking the leap. To help inform your decision, we spoke to several experts in the field.
Pros:
College is an opportunity to become an expert on a topic and get signed credentials to prove it. As someone who has already spent time working, this allows you to either expand on your existing knowledge base, complement it or tailor it by learning something new. A 2023 survey from BestColleges saw that although 82 per cent of respondents reported that college was a “good financial investment”, 61 per cent said they would change their undergraduate degree if they could go back.
A postgraduate degree is a way to remedy that, with choices that allow you to change career paths and re-enter the workplace on much more solid footing. “The main benefit of returning to college to do a master’s or a postgraduate, on the business side anyway, is building a skill set,” says Prof Robert Galavan, director of MSc Strategy & Innovation at Maynooth University. “Most people are doing it either because they’ve just recently had a promotion and they’re trying to upskill themselves to deal with that, or they’re planning on a promotion or a career change. So it usually helps them in a transition point and prepares them for how to deal with that. What I find, in particular, is that it helps someone who hasn’t come from a business education to learn the language of business. In senior management, it’s fairly specific in terms of its usage of terms, models, frameworks and ways of thinking. Coming back into a business course, particularly a master’s level, gets you into that language. So you know, all of a sudden you’re sitting in meetings, and you have the shortcut of what’s going on.”
Like it or not, the reality of finding a job is that employers want to see a proven track record of experience. This could manifest in a myriad of ways, such as education, practical work experience, or both. If you’re looking to change careers, getting a degree not only makes you more employable on paper but also enables you to hit the ground running. Even if you want to stay within the same industry, having proof of your knowledge makes things a lot easier when it comes to leveraging pay, job security and proving that you’re the right choice. It also means that those material advantages are more likely to be in your favour; according to the Organisation for Economic Co-operation and Development, adults with a tertiary degree in Ireland earn on average 81 per cent more than adults with upper secondary education. They are also more likely to be employed: the employment rate is 11 percentage points higher for degree holders than for those with an upper secondary or postsecondary non-tertiary education, according to Social Justice Ireland.
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For those who already have work experience and for those who don’t, educational settings such as universities boast fertile ground for networking. Schools and universities connect like-minded, diverse people in an environment that encourages collaboration. It also links you to a whole host of alumni who can offer valuable insights and mentorship, potentially leading to job opportunities that may not have been accessible otherwise. “We’re constantly blown away by the networks that develop in our programme,” Dr Orla Lenihan, assistant professor in corporate governance and MBA director at the University of Galway, says. “We regularly hear about people who were in it 10 or 15 years ago who are still in touch. We create nice, small class sizes to really benefit this – it means those connections you make can really last a long time.”
The pursuit of further education can lay the groundwork for profound personal growth that extends far beyond job titles. Academic studies, in particular, can sharpen one’s ability to critically think, meaning that confidence and personal decision-making can benefit hugely. Furthermore, the discipline required to execute coursework, meet deadlines, manage time, prioritise, execute self-discipline and juggle various responsibilities enhances personal management skills.
These skills, as anyone who has already worked will know, are invaluable – as they improve one’s ability to juggle multiple balls at once, something that happens to everyone at different points in their lives. “Normally, if I’m having a conversation with anyone about whether or not they’re going back to education,” Prof Michele O’Dwyer, director of MBA programmes at Kenny Business School, University of Limerick. “I would say, what’s the end goal? What kind of role do you want to see yourself retiring from? And then we work backwards to see. We’ve had all sorts of people pivot, allowing them to finally answer the question of where they would want their life to go if they could choose. That gives control over your life, as well as your career trajectory decision.”
“The ideal situation for us all is that whoever goes through an education journey with us will have the material benefits that will benefit their career, yes, but also a sense of satisfaction, personal progression and a whole host of softer skills that allow them to thrive,” Eimear Rouine, the transition to Trinity officer at Trinity College says. “That ranges from effective communication, the ability to dilute large concepts, leading a team, a boosting of their social skills. That’s not necessarily on your parchment, but it’s what you’ve been learning the whole time.”
Cons:
As most will already know, undertaking a degree is a big deal. Especially if you’re trying to fit it into an already full life. The reality of working and studying at the same time – not to mention, fitting in a personal life or time with children or parents – is that it can be incredibly stressful. There’s also the issue of timing. A part-time degree can take up to four years in some cases, meaning contingency plans might have to be made before considering a degree. “Most of the people who come to us have huge commitments,” Dr Lenihan continues. “They’re perhaps in what is now being called the ‘sandwich years’, where they have both parents and children to consider. It’s a huge juggle, and something I always ask people dealing with that is: have you got support? Because you will need it to undertake something like an MBA.”
Increased stress levels are another thing many face when engaged in higher education – particularly when juggling other responsibilities. The mental and physical toll of handling multiple high-pressure roles can lead to burnout, something that’s become all too common in high-pressure environments today. The cumulative effect of this stress may go on to impact several layers of a student’s life; health issues, subpar work performance and strained personal relationships – meaning that the goals that prompted the return to education can feel insurmountable.
Then comes the money bit. University attendance regularly requires substantial financial investments, presenting a significant obstacle for many people. Fees – registration or otherwise – can be substantial on their own, but the total cost can become overwhelming when you add the extra bits: books, supplies, rent, transport et al. For those who need to reduce their working hours to accommodate study schedules, the loss of income intensifies the financial strain. This challenge is particularly acute for individuals with financial obligations such as mortgages or family expenses. “Cost is something everyone has to consider when undertaking an MBA,” Dr Lenihan says. “But what I will say is that there’s an immediate return on investment. Apart from the accelerated career progression, enhanced credibility and earnings potential, we know that what we teach you in the classroom on Friday, you’ll be able to apply in work on the Monday morning.”
There are significant challenges in terms of getting back into the swing of full-time education, says Rouine. “For a lot of people, if they’re going back, it’s been a while since the last time they were in formal education,” she says. “So getting back into that mindset, as well as trying to balance your adult responsibilities can be difficult. That can challenge your motivation, as well as feel incredibly daunting.”
The average experience for an MBA student at the University of Galway, according to Dr Lenihan, is a 14-year gap in formal education. “This means they regularly come to us with a fear of doing something wrong – not remembering how to reference, how to read academically, worrying that they’ll plagiarise etc. That said, any good postgraduate programme will have strong support in place. It’s a big task to take on, but there are people to help you along the way.”
Choosing to return to education for the wrong reasons can also lead to personal setbacks. If you’re simply tired of working and looking for a change of pace, a degree may seem like a good idea – but in reality, it’s just taking on another huge workload that demands time and attention. It also does not always lead to the expected career advancement. Job markets are inherently competitive and unpredictable, meaning that qualifications alone may not protect you from job insecurity. As well as this, the value attributed to further education is not equal in every business, making it feel, on the outside at least, like a risky investment. “I will say I have never seen anyone go into our MBA programme with the wrong attitude, or regret it in the long run,” Prof O’Dwyer says.
“But I think it’s important that people realise that it’s not just a qualification. It’s a new chance, it’s networking, it’s time management and it’s putting yourself first at a time when you probably don’t do that very often. I often tell our students that having a qualification doesn’t necessarily get you to the next level. It’s how you use it that counts.”
