This is what you should consider before you take two years out to study

At some point in your career, you may consider pursuing further education beyond your bachelor degree. It may be to further your career, to gain the necessary skills to switch divisions or industries, or purely because you enjoy learning.The most common motivation is usually to break into a different job in your industry or a move from back to front office. However, it is not always so simple. This is especially true for senior positions. Practical experience gained in the industry often trumps post-grad qualifications, which are often viewed as “nice to have” but not essential. Short on time and resources, only patient employers or those willing to invest in training will consider new hires with little previous experience.

Timing is important

By the time you have completed your degree circumstances may have changed. Any notable post-grad qualification takes at least two years; in this time you might have instead been promoted by working and learning on the job. You may need to decide whether there is an option for career progression in your field or whether to complete your studies to try and secure a new role (hopefully not at the bottom rung of the corporate ladder).

The right mix

In some sectors, such as equity research or professional accounting, there is little choice; you should pursue further education or run the risk of having your career progression stifled. Employers in these areas encourage study while working in the industry and they are viewed as complementary activities.

Several people I know are overqualified, yet they have no work experience in their field of study. It is tough to find an employer tho will recognise the salary demanded by a candidate’s qualifications if they have no relevant work experience – maybe that is why most have given up. In an ideal world, we would all land our first jobs in our desired sector then pursue any further study, while working our way up – wouldn’t we?

It is an employer’s market

Global uncertainty has forced companies to downsize and become more selective in their hiring. In an employer’s market, competing with both highly-qualified and experienced candidates for your dream job makes breaking into a new industry much more competitive. Sure, employers are open to those with experience, but they are more likely to hire a strong candidate who has both experience and education.

Final thoughts

At the end of the day, the choice of further education versus practical experience is a matter of individual preference and personal motivation. The most successful outcome is when the chosen field of study complements work experience gained, rather than attempting to use study as a platform to try your luck in a different field of work in the same industry.

But of course there are those who strike it lucky, who may be willing to take a pay cut, or have the tenacity to make their dream career a reality. A boss once offered some wise words to me: “Study when you can; opportunities come and go, but education will always stay with you.” Maybe he is right.