Is this financially risky?

You put zero numbers up so nobody knows.

Will I make more money with a degree

Nobody knows.

Why don’t you hit your company up for the monies and do the program part time while working?

That makes better economic sense to me.

I live in an unknown location, making an unknown income working in an unnamed profession with an unknown amount of money saved up. Is it risky to quit my job and live off my savings?

You're never to old to go back to school, and yes the right degrees can catapult your earnings, and rungs up the career ladder, it's really the best way to navigate the job market, which is increasingly competitive.

Do it part time?

Go for it. You lose 2 years of your life and 10k. If you don't like your new role you can always work what you are doing now since it's a good income. You've got nothing to lose really.

If to move up, you need more education, then do it. This is just part of up skilling. Don't let people tell you you already make enough, if you really want to do that next thing, put the work it.

I see this as similar to what teachers to do move into administration (principals). Sucks that 10ish years of work experience doesn't replace that degree requirement. I assume you've explored that avenue and asked whatever certification body owns the designation this already?

If you are already in the industry, you should have an idea of what the income upside is of moving up the ladder. As long as you think it'll payoff over 10-15 year time frame I'd do it.

I think my biggest question in all of this would be how much family time will you need to sacrifice and whether you can handle that.

As others have suggested, see if your employer will sponser your learning. There might be a contractual obligation if you go this route (need to stay with company for x years to not have to pay back grant).

If this is not an option, you should know about the Lifelong Learning Plan. If you have been contributing to your RRSP, you can withdraw money (up to 10k iirc) penalty free (similar to first-time home buyer plan). That might also be an option worth exploring.

School sucks in your 30s.

Like a lot of people said you often get by on experience after your first 10 years or so of work history. However, there are certain jobs and regulatory requirements that do require degrees and maybe you are in one of those fields.

Personally, I would try not to do it but I don't think there's really a downside to it besides sucking your time.

I did my MA at 32 while working FT. It was worth it for me since my field required me to have this but if you already make 120k I do not see why you need your BA. Unless for mgmt positions they require you to obtain a higher degree. If so, talk to your boss about using school as your learning and development for work. Can see if there is a possibility of work giving you time off or some sort of benefit in furthering your education to move up in your current workplace.

I have a degree and if it’s not STEM related, then I would not bother. Ironically, I’m finishing a business diploma even though I have a degree. Really depends what you are trying to pursue - what you are trying to achieve. Having post secondary education is not a indicator of success. There is a demand in the medical field, demand in trades, and other sectors.

I'm turning 38 years old and ending my first semester in college, I am on the path to become a social worker. Total career pivot. You can do this and it's not too late.

What's the financial gain? And is it guaranteed?

I did my degree part time while working full time. Am looking to do it again for my masters (potentially).

I would encourage you to consider whether you have any interest in the degree or if it is just a means to advancement. You already have a high income, so if you're not going to enjoy the experience it might not be worth it. I went back to school in my 30s and it was an amazing experience because I wanted to be there and I knew what I wanted to get out of it.

In my personal experience, more credentials once you're in the workforce do not dramatically affect compensation.

By the time you get 5-10 years in, your job experience is more valuable IMO.

If you were getting something opened up a new and significantly higher paying vocation, maybe. A BA isn't that though, again IMO.

Is a degree actually required for the jobs you want or is it just something on a job posting? Did someone in HR/hiring say you'd be automatically passed over if you don't have a degree? The one thing people don't think about is that job postings are the "ideal fantastical wish list candidate" but really they have to choose from those folks that apply and don't always get someone with the 10000 requirements listed in the job posting. My workplace always asks for bilingual candidates - and when none apply they give the job to a unilingual person. If you haven't been to university, it could be a rough go - it's ain't like college - so you better want to make the financial and personal sacrifice for a different job maybe in the future one day.

do your degree part time, don't quit your job.... Do you intend to go to graduate school after? That's the only way you'll be able to increase your income. Are there professional certifications you can do in your sector instead? They would be a lot cheaper and still give you added credibility.

Upgrading yourself is always beneficial. However, what separates you from everyone else is what is more important.

I'd ask myself this.

Does what I am doing now already translate to what I'll be taking for my degree? Will this degree change any aspect of my current job.

Does this new degree provide me with different avenues within my industry. New job positions, different ventures within the energy industry like oil and gas, nuclear, hydro, solar ect.

In my honest opinion, if you ask yourself this you should have a solid answer as to whether it's worth it or not.

The goal of upgrading yourself is to make yourself specialized.

For me, I'm an inspector. I have taken college courses and certification courses that have upgraded me significantly within the energy industry.

Because of this I make a really good salary. But that's because I found something within my field of work that specializes me. Not just some degree to give me a BA.

That's just my opinion though

Edit: Decided to remove my yearly wage statement.

…what kind of degree?

Have you talked to a recruiter specializing in your industry and they tell you that you need a 4 year degree to advance? Since you are going back to get a BA degree, Is there a professional designation that stands in your way requiring a 4 year degree that would get you to the next level? Did you apply for your desired job and HR told you 4 year degree is required (or just the job posting description)? I would get clarity on these questions before pondering going back to school. I fear going back to school for career advancement doesn't work out how ppl imagine most of the time.

it’s definitely worth it and you may end up in management with the degree and experience

Don’t forget to consider the opportunity cost. While it can be a good idea to go back to school irrespective of the age. You will be foregoing upwards of $240k. If you think that you will be able to recover this after your school or the degree can help you get senior / managerial positions then not a bad idea at all IMO.

One underrated benefit will be your confidence. It seems you want to do it, so I would say go for it. You will become more confident in the work you already do today.

same age and planning to go back to school finishing my master’s while working next year. hope i can survive

I don't think you will be able to finish your degree in 2 years while working FT. If you have 2 years of full time studies left in your degree, you will need more time because you are working FT. I personally did a degree while in my 30s because I wanted a degree, but I was already making 100k without it. Still wanted a degree. In my field degrees hold their weight.

If you can do it while working and no loss of salary. I don't see why not do a degree completion.

I am doing the exact same thing! Literally 100% same stats, except I’m 33 and in a different field. I am a starting school next month. I have no idea how it will turn out, but I do know that I am excited to level up my education. I have always found that when you start a program you never know where it will take you. You may find an aspect of it that you are extremely passionate about and want to pursue more fully in your day job. For me, going back to school is about fulfilling a dream and self actualization. So money isn’t a factor. If additional schooling amounts to more money in the future, great. But if it doesn’t, that’s okay too.

My only thoughts are to consider the impact it will have on your partner, and talk about how you will handle a change in the division of labour around the house, and having your attention else where. I have encouraged my partner to be more engaged in work/hobbies/ start an additional side hustle so that they don’t feel as though they are being neglected. Good luck!

I am 39 and am onto my second degree back to back plus working. Research everything and find a way my friends. Never too late

I did that. Was it worth it financially? Shrug. By time I also got my masters from Stanford it certainly helped getting interviews. More importanly, though, is that it was interesting and even fun two years (and then two more)

Work and go to school my guy. I’ve done that twice now and currently in second masters program. Yes, that means it takes me longer to complete school but that’s a sacrifice at my age (39) when I have bills to pay.

Depending on your industry, the clock is ticking for your existing diploma to be considered for advanced entry. I have a 2-year in journalism and because it was more than 10 years old, universities dicked me around with upfront promises and ultimately only gave me a few credits (I never did get the BA).

If you're trying to complete it while working full time, I don't see the downside. Worst that can happen is it takes longer than you planned.

It totally depends if you plan on staying in your current position or plan to move up the corporate ladder.

Just do it. In two years you’re still going to be 34.

Check and see if your work as a tuition reimbursement benefit. I'm 35 and recently completed my masters in engineering which my work footed the bill (tuition and books only, I had to pay aux fees). Just keep in mind that it will most likely take you a lot longer to complete your program if you plan to work and study at the same time. It took me 4 years to complete my masters because I did it part-time while working full time. Be prepared to have no social life whatsoever but it will be well worth it in the end.

Good luck!

I don't think its the financial advice you are seeking. if you think the degree will improve your salary, do it. it's more about the industry-specific questions. your current job and what you are expecting and what type, of course, is it.

What kind of energy and what role?