What after graduation? Higher studies or Job…

What after graduation? Higher studies or Job…

We believe that almost all students has this dilemma – when to go for further studies or what is the right time to go for MS, MTech, MBA, PhD etc.

This article is meant for everybody (not only for engineers).

Here goes our 2 cents on this –

o    First question, ask yourself why do you want to study and work? There could be answers like learning, salary, career growth, designation, able to do things of choice, meaning to life, contribution to society, more opportunities, respect/status in the society/family etc.

o    Make a list of all such points and then try to predict where and by how much you will gain after further studies, say, MBA.

Here we have assumed that you know what course you want to go for (whether it’s MTech or MBA or MS abroad). The only dilemma is WHEN – immediately after graduation or after few years of job stint.

o    Now you would find that earlier you go for higher studies, the better it is. We will show how?

Let us suppose that you are confused between

graduation à MBA

AND

graduation à few years in job à MBA.

Mr A (BTech --> MBA --> Job)	Mr X (BTech --> 3 years Job --> MBA)
Graduation year: 2011
Job offer in hand:   Salary: INR 4.5 lacs   Designation Engineer-Trainee MBA offer (Fee: INR 8 lacs) – accepted	Job offer in hand:   Salary: INR 4.5 lacs   Designation: Engineer-Trainee MBA offer (Fee: INR 8 lacs) – rejected, will do after 3 years
MBA (2011 to 2013)	Job (2011 to 2013)
Campus placement -   Salary: INR 8 lacs   Designation: Management Trainee Cost of Opportunity = 2 years salary + MBA fee = 9 lacs of salary + hike in year 2012 + 8 lacs = INR 17-18 lacs	Get a promotion and 2 salary hikes Salary in 2013: INR 6.5 lacs
In 2014:
Salary: INR 11 lacs Designation: Assistant Manager	Salary: INR 7.5 lacs Designation: Senior Engineer Cracked MBA again – acceptedBut Fee has increased to INR 10.5 lacs Cost of opportunity = 2 years salary + MBA fee = 21 lacs of salary + hike of year 2015 + 10.5 lacs = INR 32-34 lacs
In 2016:	MBA (2014 to 2016):
Salary: INR 15 lacs Designation: ManagerPersonal life: Might have wife and a kid - A balanced life because by now he has got familiar with his professional work.	Campus placement –   Salary: INR 14 lacs   Designation: Manager Personal life: Nothing wrong but assumption is that parents and life-partner (spouse or boy/girl-friend) have supported. If no life-partner, definitely marriage is delayed by few years because he still has to learn practical side of management (i.e. his job).
Future
Pros: All experience is relevant experience Cons: Did not see engineer’s life in industry	Pros: Have seen 3 years of engineer’s life in industry Cons: Relevant experience is total exp – 3 years
Quite debatable, We would say both will have similar bright future.

You can notice that

o    After 2-3 years (in year 2019), both will have similar learning, salary, career growth, designation, meaning to life, contribution to society, able to do things of choice, more opportunities, respect/status in the society/family etc.

o    Financially, during 2011 to 2016, Mr A earned more (~27 lacs vs ~17 lacs) and paid less MBA fee (18 lacs vs 34 lacs). With that he could have better family time. So, we can say that Mr A has been financially wise and had a chance to think about his family life before Mr X.

Now before you argue, let me please admit that this example does not include factors like MBA abroad (where colleges do not take people with 0 work-ex). But even in that case the idea of finishing studies as early as possible will be applicable. It makes financial sense plus keep your personal-professional life balanced.

We also did not consider extreme cases like somebody does not need to go for higher education. There are always some guys in the market who do well and don’t need degrees. Example could be from some of your friend to Bill Gates (harvard drop-out).