<p>I have a unique situation and Im not sure how to proceed. Im looking to transfer to Berkeley this fall. If I dont get in then I will go to St. Marys. I currently have a high paying job and work a shift that allows me to go to school and work full time 3-11PM. I very much want to get into the finance industry such as hedge funds or ibanking, which means that next summer I will need to do an internship. My problem is this . I will need to take a leave of absence from my job for the duration of the internship, which means there will be little to no income for 10 weeks or so. I currently make ~$40 an hour. I have a family and a mortgage. I am 60% upside down on my house so I cant sell it between now and then which means I will possibly not make any payments for those 10 weeks that Im interning. The worst case scenario is that I will have to quit my job because they wont let me take a leave of absence, which means I will have to support my family with my GI bill money and my wife would have to work for the duration of my senior year. The good news is that we can stay in our house in that situation because the foreclosure process can take a couple years. I have already concluded that we will have to foreclose at some point because the house is so upside down. Im really conflicted about having to quit my job because I make good money and I would feel bad for my family if their standard of living were do decrease just so I could do an internship. Do you guys think its worth it? Is there anybody else who is in a similar situation? Im an econ major by the way.</p>
<p>Does your wife also work? Or are you the only worker? Jobs like i-banking and finance puts enormous strand on family because you will work overtime. One of my friends got a job as an I-banker, and he works 60 hours minimum per week; and he said this to me, “if you are in a relationship, be prepared for it to end–including marriages”. I-bankers are those who put money before everything including their love ones, this job has the highest stress and high turn over rate. If you really want to become an I-banker/finance, sometimes it takes a gamble to do so. Make the risk.</p>
<p>I’m the only one working right now. I’m aware of the long hours also. I was in the Coast Guard and spent 6 months a year out to sea, so my wife and I can deal with long hours and weekends at work. I want to work in the industry because the work appeals to me and I think I would do well in the industry. I just don’t know if we can handle being flat broke for a year. Hopefully I won’t be forced to quit and everything works out, but I want to be prepared for the worst case.</p>
<p>Try talking to your current employer and see if you guys can work it out. Also, ask your wife if she can start working so you guys can have a flow of income. And start saving up money that will let you help stay afloat during the times you don’t work.</p>
<p>well, if you have a family with children. i suggest Not quitting a good job. that seems detrimental to the stability of your entire family in this economy. i would wait to hear from UC berkeley anyway, and then start making decisions based on that. private school admissions are not hard to come by, but public school admissions are rare. </p>
<p>in the mean time, it sounds to me like you should get out from under whatever your house situation is and find a place you can afford whether or not you have to work and go to school. hope that makes sense. i am an older student and have dealt with many of life’s challenges, one thing i have learned over the years is that it is a bad idea to leave a well paid job in times like this. good luck!</p>