Jumpstarting your career may mean a trip back to the classroom. If you’ve been out of the academic environment for quite some time, it’s perfectly normal to have some jitters about returning to school.

Balancing between classes and work can also be a difficult task that you will have to master as a returning student. Here are some things to consider when deciding whether to go back for your degree:

• Assess your income. Many people decide to return for a degree after they have reviewed their income status. If your income isn’t as high as you would like it to be, or you have a hard time budgeting for your and your family’s needs, then you might want to decide to advance your career by obtaining a degree. According to the U.S. Census Bureau, the median annual income for an employee with a high school degree was $27,915. For an employee with a bachelor’s degree, it was $51,206, and for a masters degree or higher, it was $74,602 or more. Assess where you are in terms of those income brackets, and determine if getting a higher degree may help you advance financially as well as professionally.
• Assess your financial need. Determine how much money it will cost you to return to a school of your choosing. If you’re going part-time, you may still be able to qualify for some financial aid. Check into what your school would offer you as a part-time student, and see what other outside scholarships and grants for which you may be eligible. You should also ask your boss what the company policy is on tuition reimbursement.
• Assess your schedule. You will want to look at what adjustments you may have to make to your schedule to go back to school. If you have kids, you will want to make sure you have a babysitter on hand who will be able to watch them when you are in class or studying. You’ll want to discuss these possibilities with your family and not make this crucial decision alone. You will also want to plan out how many courses you feel that you can handle during a given semester, and go over your options with your school adviser.
• Assess your career goals. Before you decide to take that giant leap into the classroom, you want to make sure you’re set on your career goals. Know what field you’re getting into and what it takes to obtain a degree within that major. Know what skills you want to take away from it as well. You may also think about positions you want to advance to once you complete your studies. Take the time to consider why you want to go back to school and the long-term benefits of doing so. You want to be certain of your personal and professional career goals before you sign up for that first semester.

Going back to school takes a lot of time, patience, energy and money. So make sure you know exactly what you’re getting into before you confirm your decision to become a returning student.

Filed under: Management Minute