Does finishing a BSEE make financial sense at the age of 40? 2

[vz101]

Greetings All,

In a few days I turn the ripe old age of 40. I currently live in a rural area about 40 miles from a larger metro area, where I work. My current job title is Senior Network Engineer at a mid-sized telecommunications company, with a compensation level of just under $90k per year including bonus. Over the past 20 years I have earned approximatley 35 college credit between ITT & DeVry, both in their EET programs. My "rolling" work schedule makes it almost impossible to attend classes in person. So I have been researching online Electrical Engineering and Computer Science degrees for sometime. The few ABET certified programs available are pretty expensive coming in around $460 per credit hour.

Completing a college degree is a personal goal, and also I feel its necessary for career security. I have looked at other degree programs that would be less expensive and easier to complete but they just dont interest me. Ill probably need to work until early 60s, maybe longer depending on the economy.

I'm having a hard time justifing the cost to complete the degree because I'm not sure how much if any it will increase my earning potential. My employer does offer tuition assistance in the amount of $5500 per year.

Any feedback would be appreciated.


Thanks,

 

[KENAT]

There have been lots of thread on if age X is 'too old' to get an engineering degree. Maybe you can search for them and get some thoughts.

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(probably not aimed specifically at you)
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[zdas04]

Most people that I've known who went to college for the money ended up miserable with crippling student loans. I went to college to get the credentials required to do something I love doing and I am having a great career and a fantastic life. If you think that a BSEE will allow you to do stuff that you don't have the credentials to do now, then go for it. If you are thinking of doing it for the money, don't bother, keep doing the well paying job you like and go fishing occasionally.

David Simpson, PE
MuleShoe Engineering

"Belief" is the acceptance of an hypotheses in the absence of data.
"Prejudice" is having an opinion not supported by the preponderance of the data.
"Knowledge" is only found through the accumulation and analysis of data.
The plural of anecdote is not "data"

 

[Latexman]

"Completing a college degree is a personal goal". Nuf said!

Good luck,
Latexman

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[IRstuff]

"I'm having a hard time justifing the cost to complete the degree because I'm not sure how much if any it will increase my earning potential. "

Then you should be looking to a BSEE, rather than an EET. Yahoo News reports a guy just finishing his HIGH SCHOOL DEGREE at age 97. At 40, you still have up to 30 yrs of work career ahead. That said, you should be doing it because it's something that you are truly interested in; nothing worse than doing something you don't like.

TTFN
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[brandonbw]

I would suggest to not get an engineering degree to follow money. I am almost starting to think that its a bad idea to get an engineering degree in general. I love engineering too much so the thought to switch professions, Investment Banker, has only come up a few times. I would just take the tuition credit and take courses so its not out of pocket.

B+W Engineering and Design
Los Angeles Civil Engineer and Structural Engineer

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[PSE]

From a career and financial standpoint, the BSEE is not likely to make sense. The degree may have little or no impact on your current income level but may appear desirable from an advancement or promotion standpoint. If you want to do it as a personal goal, go ahead. If you do, look carefully at programs. Credits from ITT and DeVry may not be considered acceptable to some colleges or universities and you would end up having to repeat a number of courses. Believe it or not, $460 a credit hour for a course is not bad at all. Many of mine were in the $600-$800 range back in the early to mid 80's.

Bruce Youngman

http://www.dynamicsolutions-mi.com

 

[MacGyverS2000]

Believe it or not, $460 a credit hour for a course is not bad at all. Many of mine were in the $600-$800 range back in the early to mid 80's.

And 90's... the average appears to be fast approaching the $1k/hr mark. For 60-80 hour programs, that's gets pricey quick.

Dan - Owner

http://www.Hi-TecDesigns.com

 

[huda79]

If you only have 35 credits under your belt, you have a long way to go. I believe most programs require between 120-140 credit hours for a BS. You don't know what opportunities can come up in the future outside of your company unless you are set on working for your current employer until you retire (assuming you have a pension that most of the younger folks lack). However, no job is guaranteed for life.

I do have some concerns about the quality of an online program in engineering. I took one course in Business Law online and it was tough to communicate on message boards. Several engineering courses have a lab component that you will miss out on. I am not sure how ABET schools can offer the lab part online.

Ultimately, you have to decide how bad you want the degree. Nothing is guaranteed but I have also seen opportunities open up in the blink of an eye in my career. If one comes along that requires a BS, you may end up regretting your decision. On the other hand, if you like what you do and have a good life, there is nothing better than being content.

 

[fegenbush]

Your figure of $460 per credit hour is light. That *may* cover tuition only, but there are engineering department fees and online access fees. My experience says that $800 per credit hour is a more accurate estimate.

 

[MacGyverS2000]

Having taken online engineering courses in the past, I can honestly say I would not feel comfortable treating someone with an online degree the same as someone who sat in a classroom. Yes, you learn some material, but it simply is not the same level of understanding. The testing is often easier (multiple choice, etc.), and as mentioned before, the interaction with the other students and professor is severely limited.

That's not to say you should ignore online material, just be aware that there are plenty of others out there who view it in the same manner as me.

Dan - Owner

http://www.Hi-TecDesigns.com

 

[controlnovice]

If you're making $90k now, you will not make a significant amount over that with a BSEE. Although it may lead to increased opportunities with higher pay.

Don't do it for the chance of higher income. Do it for your personal goals and for something you love to do.

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This is normally the space where people post something insightful.

 

[rotw]

thanks to Zdas04 for his comment