Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Advice for DD
Old 08-01-2009, 06:44 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,322
Advice for DD

After getting her BA in 2005 DD worked in higher ed administration for a private university. Last year she returned to school full time and got an accelerated Masters degree in Marketing communication. She is due to officially graduate at the end of August after completing an internship. She has been actively looking for a job in the Marketing field for a couple of months but the only offer she got was for contract work at a major university admission's office. She currently supports herself (in a very expensive city) waiting on tables as she is completing her school work.

Her dilemmas are:
1. Going back to work for an industry that pays low wages.
2. Justifying the cost of her masters degree and repaying the loans that will be due soon (35K total)
3. Part time work with no benefits.
4. The negative effect on her desired career path.
5. Lack of time needed to conduct an effective job search

I advised her to take the job and wait out the recession as most employers would understand her reasons for taking a part time work outside her intended field of study. What do you think?
__________________

__________________
Corporateburnout is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-01-2009, 07:16 AM   #2
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,949
Did she ask for your advice? I would think that a young woman in her position would have a better idea of what her best options were than you or I might have.
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 08-01-2009, 07:52 AM   #3
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,322
I offered my advice because I noticed her increased level of anxiety about the lack of job offers.

Furthermore I don't believe that there is anything wrong with advising one's own daughter.
__________________
Corporateburnout is offline   Reply With Quote
Old 08-01-2009, 08:45 AM   #4
Thinks s/he gets paid by the post
BunsGettingFirm's Avatar
 
Join Date: Jan 2004
Posts: 1,502
I'm assuming that her intended field is marketing, not higher education. In that case, I would advise going into that field now. Offer to intern, beg, or whatever, but get the experience. The experience and minimum pay will pay off later when she goes for the higher level job.

I was in a comparable situation two years. After graduating with an MBA and working on my CFA, I mistakenly took a job in a computer company thinking that I at least will practice my finance skills because that's what the job title is. Too bad the job doesn't actually exist because I didn't realize that Web 2.0 meant the revenue is two dollars and zero cents, so instead I'm back doing technology work. It's interesting, but my MBA and CFA have been completely wasted. For my current job, my M.Sc. in computer engineering and B.Sc. in electrical engineer are more than enough. Now if I want to go find even a mid-level corporate finance job, I'm at a huge disadvantage. Be careful what you get into because it will skew your subsequent jobs.

I'm still hopeful that someday I will get to combine my finance, computer, and management skills into a great job, but so far, I feel as if I'm wasting my time about 2 days out of every week.
__________________
BunsGettingFirm is offline   Reply With Quote
Old 08-01-2009, 08:54 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,038
If it was my daughter and in fact my daughter was in a pretty similar situation .I would advise her to get a part time job that would pay the basics while she accelerated her job search including other areas and to get catastrophic coverage medical ( at her age it should be pretty reasonable ). If need be she could get a few part time jobs . My daughter was always juggling several jobs while waiting for a good paying full time job . She taught adult classes. She worked for goggle ( got the job at the goggle site online ). She designed web sites . She worked at the Y after school program and yes ,she waited tables . Like your daughter she had a great job at Boston University that she gave up to move to upstate New York with her husband . She now has a growing business and is a college professor so luckily they do land on their feet . It is just harder than it was when I graduated .
__________________
Moemg is offline   Reply With Quote
Old 08-01-2009, 09:26 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Sep 2006
Posts: 1,322
Quote:
Originally Posted by Moemg View Post
If it was my daughter and in fact my daughter was in a pretty similar situation .I would advise her to get a part time job that would pay the basics while she accelerated her job search including other areas and to get catastrophic coverage medical ( at her age it should be pretty reasonable ). If need be she could get a few part time jobs . My daughter was always juggling several jobs while waiting for a good paying full time job . She taught adult classes. She worked for goggle ( got the job at the goggle site online ). She designed web sites . She worked at the Y after school program and yes ,she waited tables . Like your daughter she had a great job at Boston University that she gave up to move to upstate New York with her husband . She now has a growing business and is a college professor so luckily they do land on their feet . It is just harder than it was when I graduated .
From a health insurance standpoint she will be eligible for the subsidized Massachusetts mandatory health coverage at a very reasonable cost of about $200 a month.

BTW the part time contract job she is offered is at Boston University.
__________________
Corporateburnout is offline   Reply With Quote
Old 08-01-2009, 09:46 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,038
Quote:
Originally Posted by Corporateburnout View Post
From a health insurance standpoint she will be eligible for the subsidized Massachusetts mandatory health coverage at a very reasonable cost of about $200 a month.

BTW the part time contract job she is offered is at Boston University.

My daughter started at Boston University in a lowly position and moved up the ladder pretty quickly . They also paid for her master's degree while she worked there and as an added bonus that is where she meet her future husband . It was a really nice place to work . She started in the marketing department but then moved into the education department .
__________________

__________________
Moemg is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
More Advice Than You'll Ever Need RonBoyd FIRE and Money 5 02-26-2009 10:42 AM
LR advice mickeyd Other topics 0 08-18-2008 04:26 PM
Advice please ? romans2 Hi, I am... 10 02-03-2007 01:38 PM
may I ask for advice too? P.S. FIRE and Money 16 03-22-2005 05:28 AM

 

 
All times are GMT -6. The time now is 11:31 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.