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Take Caution When Chasing a Hot Career Field
As a follow up to my last blog I wanted to caution students starting college and non-traditional students going back to college about chasing a hot degree. Many of the hot degree fields with a great payback financially offer a very rigorous curriculum.
I have met a lot of students that went into Nursing, Accounting, Engineering or Science only to find out they did not enjoy it and later switched to something else or even quit. Chances are that you know of somebody like that as well.
I recently read a statistic that 50% of students who start down a degree path do not finish it. Statistically, people who do not finish will make about 67% of the pay had they finished. This is like giving up a third of your monthly paycheck for the rest of your life. Worse, you will most likely pay a lot of money for this lost opportunity.
This even happened to me. I started in Engineering because somebody told me it would provide a stable job. The problem is I hated it. I am not a science minded person and frankly do not enjoy it. Luckily, I was on a football scholarship and it did not cost me anything to switch and I ultimately completed a degree in Finance. Had I not been on a scholarship I would have paid for a lot of classes that where a complete waste of time and a LOT OF MONEY!
Before going to college or going back to college make sure the career field you are considering is right for you. Make sure you enjoy what you are going to pursue. I speak to a lot of people and I regularly find people who say, “If I had it (college) to do all over again I would …”. Don’t take a college degree lightly or make a rash decision. This will most likely wind up being one of a family’s biggest financial commitments.