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Very tough situation: Should I get my bachelors degree?

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  • May 14th, 2021 2:14 pm
[OP]
Newbie
Jul 8, 2020
5 posts
7 upvotes

Very tough situation: Should I get my bachelors degree?

I feel completely stuck. I am 28 years old in search of a career. I dropped out of university 5 years ago due to family circumstances. I have two years left to complete my bachelors of commerce in accounting. I have 15k in savings but I am ineligible for osap loans due to a previous bankruptcy.

Would it be worth it to use my 15k savings on completing this degree? I am hesitant because completing the degree doesn’t guarantee me a job in a field I’ve read is very saturated. I currently don’t have a job which makes me using all of my savings more difficult. I am also interested in real estate and was considering obtaining the license to become an agent, but I’m worried about the inconsistent income. Sports is the main passion of mine but it’s hard to find a job without a degree.

If I can get advice on the best route to take or any other career options excluding trades and computer science that would be great.
64 replies
Deal Guru
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Jul 12, 2003
12353 posts
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I disagree about hard to find a job without a degree, It depends on what kind of job you are applying. Most entry level jobs doesn't require a U degree, until later you are going to management level (talking about business roles since OP mentioned Bcomm)

I have my BComm degree and all jobs I worked for until now doesn't REQUIRE a degree and still able to earn 100k+

Find a job now, no point to burn all your savings to finish your degree and then come out graduated with the exact same situation (jobless). A U Degree is not a VIP ticket to land on jobs, many recruiters still look at your job experience, learning skill, inter-personal skill, attitude, etc.

Once you have a stable job and then study part time to finish your degree.

You need a career direction, something that you are good at, specialized in and then grow in it.

Build your career and you do not NEED a U degree to have a career.
Retired Forum Moderator February 2009 - June 2015
Deal Addict
Jun 14, 2018
1275 posts
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If your heart isn't in accounting, don't do it. Research some 1 or 2 year diploma programs that give you a better chance to land a job after graduation. Just go to a school's website to look at the programs that they offer and see if any of them interest you.
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Apr 1, 2015
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NOYFB
Don't rush yourself into an undergrad degree right now if you are unsure what you wanna do

Try find a job first and you can come back to school later when things are getting better

If you have trouble finding employment, try ymcas career service.

I find their advice and critique pretty helpful
plz don't touch my signature.

don't make me less of a human just cause i don't share your "idiotologies".

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Deal Fanatic
Jul 13, 2009
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OP what job do you have now?

You have 2 years worth and perhaps those credits can transfer to something else to save money and time.

What are your strengths? Can you code?
Member
Sep 29, 2014
230 posts
219 upvotes
Toronto, ON
Why are you opposed to trades?
Deal Addict
Mar 15, 2008
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In the covid era where automation is slowly but surely coming-I'd pass Uni and look for a program that will grant your work experience. The days of "have a degree, get a job guaranteed" are over. If you're really (REALLY) passionate about accounting, look into obtaining your CPA. Be warned, it's saturated and will be a heck of a climb to get to the top without a solid network.

Look into repairman, electrician. It be not be "high class" but odds are you'll be working much longer than the accountant-and get paid much more getting your hands dirty. Learning trades shouldn't cost an arm an a leg either.
Sr. Member
Mar 20, 2006
588 posts
404 upvotes
Two years is kind of long when your money is tight. I am not in your field but pandemic has cost many job losses and to predict job market two years later would be very uncertain. May be you could enroll in one or two courses just to network or show progressiveness on your part but don't commit for another two years. May be better go for a 1 year or shorter program that has better market value.

I have gone back to grad school after university and I noticed that some people consider themselves too old even at 27 while others who are in 50's don't care about their age. If you are mentioning your age here it sounds like you care about it and it will bother you during your studies. So go for something shorter that interests you if you must go back to school so you end up with better results.
Member
Oct 5, 2019
237 posts
237 upvotes
2good wrote: Two years is kind of long when your money is tight. I am not in your field but pandemic has cost many job losses and to predict job market two years later would be very uncertain. May be you could enroll in one or two courses just to network or show progressiveness on your part but don't commit for another two years. May be better go for a 1 year or shorter program that has better market value.

I have gone back to grad school after university and I noticed that some people consider themselves too old even at 27 while others who are in 50's don't care about their age. If you are mentioning your age here it sounds like you care about it and it will bother you during your studies. So go for something shorter that interests you if you must go back to school so you end up with better results.
As other have mentioned you need cash flow. 15k isn’t much and won’t last long. Once you have a stable income stream you can think about more education. Can you take classes in the evenings and work at the same time? It’ll take longer but you’ll have an income and won’t be under as much pressure financially.
Deal Fanatic
Feb 4, 2010
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Whatever you decide to do, make sure it's something you want to do and you enjoy. Pursuing a field because you think is going to earn you more more in a recipe a for unhappiness. Also, these days you can't do anything a bachelor's degree on its own - you usually have to do some post-grad. I would seriously investigate college over a university degree - it's way more practical, cheaper, depending on school and program better quality and overall better value for your money.

Not sure if this is still an option but if you're currently on EI you might want to look at options for returning back to school using resources that way.
Deal Expert
Feb 29, 2008
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MP3_SKY wrote: I disagree about hard to find a job without a degree, It depends on what kind of job you are applying. Most entry level jobs doesn't require a U degree, until later you are going to management level (talking about business roles since OP mentioned Bcomm)

I have my BComm degree and all jobs I worked for until now doesn't REQUIRE a degree and still able to earn 100k+

Find a job now, no point to burn all your savings to finish your degree and then come out graduated with the exact same situation (jobless). A U Degree is not a VIP ticket to land on jobs, many recruiters still look at your job experience, learning skill, inter-personal skill, attitude, etc.

Once you have a stable job and then study part time to finish your degree.

You need a career direction, something that you are good at, specialized in and then grow in it.

Build your career and you do not NEED a U degree to have a career.
While you may be right, it's not really about the job requirements and more about who you are competing with. In today's landscape there are not enough well paying jobs to suit the level of education available so you will see a lot of highly educated people applying to entry level jobs.

IMO OP should complete the degree but also find a job.
[OP]
Newbie
Jul 8, 2020
5 posts
7 upvotes
I don’t do well with hard labour and I would prefer an office job over a physically demanding one.
[OP]
Newbie
Jul 8, 2020
5 posts
7 upvotes
This sounds like a good idea. I’ve been applying to entry level jobs but haven’t had much success lately, probably due to COVID. I will continue applying to entry level positions to get a job first before pursuing my degree.
[OP]
Newbie
Jul 8, 2020
5 posts
7 upvotes
Thank you all for the great responses!
Deal Guru
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Jul 12, 2003
12353 posts
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Toronto
JayLove06 wrote: While you may be right, it's not really about the job requirements and more about who you are competing with. In today's landscape there are not enough well paying jobs to suit the level of education available so you will see a lot of highly educated people applying to entry level jobs.

IMO OP should complete the degree but also find a job.

If OP is 19yrs old and living at parents, I will tell him to stay home and finish his degree first.
Now he is 28yrs and living on his own with 15k savings (not sure if he lives home or not), I would not tell him to use his last 15k savings to finish the degree, then come out with no guarantee to have a job neither

He needs money to survive himself, keep finding for a job at least to support himself, then he can use his spare time to continue his education.

A U Degree cannot cash in for immediate money needs once he runs out of money.
Retired Forum Moderator February 2009 - June 2015
Member
Apr 25, 2019
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amfibo wrote: I feel completely stuck. I am 28 years old in search of a career. I dropped out of university 5 years ago due to family circumstances. I have two years left to complete my bachelors of commerce in accounting. I have 15k in savings but I am ineligible for osap loans due to a previous bankruptcy.

Would it be worth it to use my 15k savings on completing this degree? I am hesitant because completing the degree doesn’t guarantee me a job in a field I’ve read is very saturated. I currently don’t have a job which makes me using all of my savings more difficult. I am also interested in real estate and was considering obtaining the license to become an agent, but I’m worried about the inconsistent income. Sports is the main passion of mine but it’s hard to find a job without a degree.

If I can get advice on the best route to take or any other career options excluding trades and computer science that would be great.
1) There are many degree programs online which are recognized and are cheaper than 15K CAD. You can visit degreeforums.net to explore more on this option, I completed a masters in IT for just 4K CAD from a state school from US.
2) If finances is your problem then and if you are Canadian born then you might want to look into some armed forces civilian jobs or something similar in DND, CSE etc. An entry level job there for 4-5 years can help stabilize your position a lot.
3) Try to get into some entry level job in large companies. I have been told Home depot pays 3000 CAD per year tuition reimbursement for full time and 1500 CAD for part time. This can help if you want to do something online an attach a degree on your CV.
4) If I were you I would not do anything in accountancy because being in GTA I have met people who completed degree in the similar field but are doing totally unrelated jobs as they were not able find anything suitable.
Deal Addict
Nov 13, 2013
3821 posts
2373 upvotes
Ottawa
There is a lot of good advice here and I like the thread above except I'm not sure about an online degree. In a lot of fields, sales is a good example, anybody can start but they want a degree for management and don't really care where it's from. If you want a knowledge economy job what, where and how well you studied will be important. OP needs to ask himself if he is smart and motivated enough to do well in the last two years and longterm be somebody paid for his decision making.
The fact that you dropped out doesn't discount that you might be though many will dismiss you when you go for interviews as a new grad at 30 so keep that in mind also. If you are somebody who can work hard, likes working with your hands yes the trades are the best option for a guaranteed income and resistant to automation as well.

Sports as a passion is ok but really it's not a passion that has a lot of career opportunities for most people it's better as a hobby. Maybe you are fine being a well paid electrician and maybe don't get fulfillment from your job but can afford to go to a lot of games and take sports trips as well.
Deal Addict
Sep 28, 2006
1160 posts
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Education/Degrees is not the selling point anymore, don't think it ever was. I learned that the first week after graduation with recruiters hanging up on my face. If I knew this when I was 17, I would've never wasted 4 years of my life, and would've started from anywhere really building up skills.

But yes, it may be a bare minimum requirement in those pre-screening questions. What I would do is just get any cheap degree or a specialized diploma of some kind. There are CPA's I know that are working in unrelated fields, yes they have CPAs, but they fail to meet that experience requirements. Try looking into tech related stuff. CPAs are good with numbers, but are completely clueless with the technology they use.

I'm not that type of guy to tell people do what you enjoy. Do what can help you make a living, and do what you enjoy on the side. Once that replaces at least 70-80% of your employment income, you can think about switching over to your passion full time.

You will have to spend some time networking and explore what you can do and cannot do. If you can work with your hands, trades are excellent. Its based on your ability, not your gender, race, sexuality, nepotism bullshit that is flooding the accounting/corporate world today.
Member
Jan 31, 2008
480 posts
186 upvotes
Summerstown, ON
Hmm.

Lots of fields are "saturated" so it's a matter of being actually good and what you do and having perseverance.

As for your $15,000, it isn't much but it's better then lots of people.

Why can't you study and work part-time?

You can pick a name from a hat here, the sky is the limit but you need to know where you want to go and what you want to do.

I'm of the opinion there are plenty of jobs in various levels in accounting which could also be extended into the financial industry.

If you're willing to move around to where the opportunities are to get experience, you have lots of running room if you pull through.
"It is never too late to be what you might have been. "
Deal Expert
Aug 22, 2011
37864 posts
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chriskanaan wrote: Hmm.

Lots of fields are "saturated" so it's a matter of being actually good and what you do and having perseverance.

As for your $15,000, it isn't much but it's better then lots of people.

Why can't you study and work part-time?

You can pick a name from a hat here, the sky is the limit but you need to know where you want to go and what you want to do.

I'm of the opinion there are plenty of jobs in various levels in accounting which could also be extended into the financial industry.

If you're willing to move around to where the opportunities are to get experience, you have lots of running room if you pull through.
Accounting is extremely saturated.
You have new grads competing with designated candidates for entry level positions such as AP/AR as an example.

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