<p>I'm nearing the end of my Mech. Engineering degree. I'm just wondering if an MSc. would significantly improve my job prospects and income. I've been told mixed things about this. I have no plans to ever get a PhD. My other idea is to go to law school, or maybe even an MBA later on. As of now I still don't have a set career path. Don't know what I want to do, but I do want to make a lot of money.</p>
<p>I think that I'd like law school more, but it's more difficult, more expensive, and takes longer. I'm also not sure about the job prospects of a lawyer, even with an engineering undergrad. My undergraduate GPA is 3.8. Any thoughts on this?</p>
Scholarship/grant + stipend. (livable amount and nice city)
Could have found a job fairly easily as a fallback (2006)
3 Had free cash flow to live a poor lifestyle for a couple of years.
He wanted more hands on experience. (thesis) I don’t think he “learned” any more or really new. </p>
<p>His current wage is less than his BS Meng, roommates’s. Note: DS works at an university pt and has a funded startup. He has quite a bit of freedom than his jobbed, friends. However they do make more $$ and much better benefits.</p>
<p>So he is working PT, and for a startup. Startups often require a 50% pay cut and pay you in stock options that may not end up being worth anything if they ever vest. So no wonder his friends make more if they are FT. Or they could be over paid. MS usually equals 3-5yrs experience, or maybe 20% more than a BS.</p>
<p>I remember reading an article to the effect that a M.S. degree, on the average, raises the earnings potential by quite a lot over a lifetime. I don’t know whether they break this down by major or not.</p>
<p>I think the better reason to go for a graduate degree (well, at least it’s my reason for doing so) is that it will open the door to more interesting jobs (well, at least for what I want to do). My salary will go up a little bit by doing it, but not enough to justify not working and saving… at least not for a little while, anyway. I think the idea is that people with graduate education do better in the long run. It’s an investment in human capital.</p>
<p>From what I understand, the main objective of graduate school is to specialize you within a specific area of the field you are interested in working in. </p>
<p>My first recommendation is to sit down with a reasonable person you trust and figure out what you want to do for the next 5-10 years.</p>
<p>You also mention you want to make a lot of money. Well, from what I’ve read, individuals with excellent quantitative skills are in high demand within in finance and law; a good number of individuals working in high-end finance (the so called “quants”) are generally Physics Ph.Ds; also, lawyers with technical/scientific knowledge may find lucrative, stable careers as patent lawyers or corporate lawyers for engineering/scientific firms.</p>
<p>Nonetheless, I remind you of my recommendation 2 paragraphs above.</p>
<p>Alright guys, thanks for the advice. Since I’ve done quite a bit of undergraduate research myself, it makes sense that an MSc. would more serve to specialize and whatnot than offer lucrative benefits. I don’t think it’s for me then, since I don’t even know the exact field that I want to enter into.</p>
<p>I actually planned on pursuing law before I even entered engineering. I only chose engineering because I thought that it was the most marketable undergrad and a good plan B. Also because of patent law, although now that I’ve taken a law course I think that other areas of law would be more interesting.</p>
<p>I’m interested in business as well. I actually tried to get some more business related internships for this summer (including one with mckinsey) but I didn’t get very far in the recruitment processes due to the very small number of positions available right now.</p>
<p>I think about what I want to do in the next 5-10 years a lot and it’s a lot different than it was a few years ago. I have a vague idea of what I want. I still don’t know what career I want though; I just know that I want lots of money. That’s one thing that hasn’t changed. lol.</p>
<p>Not exactly.
He had a FT job at university, at less than what an MS/BS would start. He took the position because of who he was working for, the type of work, location, and degrees of freedom.</p>
<p>He went to PT with this university to work on his funded R & D startup with his professor/boss. He is the sole employee and named his own pay. The money has got to last until the project is completed. </p>
<p>He has low living expenses. Money is not his motivation.</p>