Accepted to second degree program, full time job with pension – attend or not? | Hacker News Reader

Accepted to second degree program, full time job with pension – attend or not?

4 pointsTheGrkIntrprtr2 comments

Hi all, I work as a quant analyst in the public sector in Canada, basically doing data analysis with R, SQL, SAS, but I'd like to switch to a more software focused role. I am a BSc. Econ grad with 4.0 GPA, and have passed the CFA level I & II exams, so I'm thinking that perhaps a software dev role in a pension fund, big bank, or fintech co. would be a good fit.

I've been accepted to a 20 month CS second degree program at the University of British Columbia. Keep in mind, the tuition is much cheaper than US tuition, being $5,506.80 per year for CS. However, I think it would cost me around $48,000 for the degree, including living costs & fees, and I'd have to move.

I'm in my late twenties and would like to make this transition quickly. I could go on unpaid leave to complete it, however, the opportunity cost of lost salary would be large. I don't know whether I should self study, contribute to OSS if I can and build a portfolio, or get the credential. My thoughts have been consumed by this decision for weeks and my opinion seems to change daily - help me make up my damn mind!

If you want to look at it clinically, what are the full costs of relocation, education and two years without pay coupled with when do you plan to retire? You have that age minus about 30 to make up the difference. If you believe your new education can get you a 8% lift in compensation then you are likely going to come out ahead (financially).

Now throw into the mix, whatever your estimated change in satisfaction is, discounted by the risk of being unemployed during a major downturn.

If it were me, I think the reward does not match the situational risk, but I have kids. If I was keen on the training, then taking courses part-time might be a viable alternative.

If you can program in R you might also ask yourself if you are already qualified for the job you seek. In fact, what you are looking for might be considered a step down.

In the end, only you can say if it is worth it.

Thanks for your comment. That's a good way to break down the value of it, and yes there is certainly an increased risk level during this huge downturn.

There's a few aspects that make it difficult for me to assess. Right now, I feel kind of uncomfortable.. I feel as if I'm in a position which, at least outside of my org, is much more difficult to obtain without a graduate degree, and I don't think I'd enjoy doing a master's in stats etc. I like that software dev has less credentialism in that you can go very far with just a bachelors, or even without, providing you have the skills etc.

Though, if I did go the self taught route, I would not be able to remain in (most of, probably) the public sector or my org, whereas if I got the degree I could potentially come back to my position (with changed duties) or another in my org. But I could get up to 1 year of unpaid leave to try it out, and return to my position (same duties) if I wanted to. I'm also uncertain as to what degree Canadian employers are open to a self taught dev. Is this more accepted in the USA I wonder.

The other thing is, I've been through two reorgs already. Although things are good now, that can quickly change with a bad manager, and I feel like with the CS degree it'd be easier for me to quickly get a different job elsewhere.

One much cheaper alternative for me, which would take a lot longer, is to do a few core online CS courses and apply to Georgia Tech's OMSCS, but that would be completed ~ 4 yrs from now. Doing the CFA exams while working full time took a lot out of me - I'm afraid I'd constantly have doubts if it wasn't a full time program that I can just hammer out and get done. It can be hard to evaluate where you're at when you're self taught too I think.

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