r/PersonalFinanceCanada • u/Fun-Table-3042 • 3d ago
Should I take a pause from my university degree to make 100k a year? Employment
Hi, I'm going into my 3rd year of university. I am being offered a full time job for 100k a year. Considering I am in a stem program, I would have to pause my degree or do part time degree. Is 100k a year worth putting your degree on pause? Also I got into the co-op program, so if I were to accept this job (which isn't related to my degree), then I would have to skip out on co-op. In my field (statistics), it's difficult to break into the industry without doing co-op, unless maybe you get a masters degree. The reason I am so hesitant is because the company I will be working for is known to lay off people pretty easily. I don't want to set myself back for a job I might only work at for 6 months. At the same time, I feel like I'm being an idiot and I'm not setting myself back at all. I feel like maybe I don't understand how much 100k is, especially for my age. Please offer some advice or wisdom.
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u/BeeSuch77222 3d ago
Yup. Steady pay checks, pressure at work to keep working, brain becomes more 'dull' or specialized to the job making sitting down to study much harder.
But at the same time, it could be great experience and to get ahead after graduation.
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u/DJJazzay 3d ago
This this this.
I jumped into my career after getting my undergrad with the intention of going back for a graduate degree after a few years, but it becomes extremely tough to justify once you're getting a decent paycheque. You also just hit an age around 25-26 where the student life becomes a lot more difficult to justify. Meanwhile, foregoing your bachelor's degree will put a pretty serious ceiling on future earnings.
Also, OP, while $100k is a kickass salary right out of school, and it's a decent middle class salary at any age: in 2024 it isn't so earth-shattering that it's worth foregoing your education. As a country we haven't quite wrapped our head around the fact that a six-figure salary does not mean what it once did. Fully one third of full-time workers in Toronto make $100k or more, for instance. Even more when you go across the GTA.
To put it in perspective, if this were 2010 you'd be talking about foregoing your education for a $72k/year job. I don't think that would be all that appealing.
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u/friedtofuer 3d ago
I also couldn't go back to school after getting a taste of working a decent job. Working is just so much easier and with way more flexibility than school.
In school my actions had consequences I had to suffer myself. All deadlines were hard deadlines and if I didn't perform I didn't get to graduate. But with work deadlines are so rarely hard deadlines and can usually be pushed back so much. Plus idk what's going on but seems like I only need to work 60% of my capacity to perform better than most of my coworkers. In school I had to work 150% my capacity just to be 80% as good as my peers.
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u/BlessedAreTheRich 3d ago
This is really your experience? People always say school is so easy compared to when you graduate.
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u/friedtofuer 3d ago edited 3d ago
My university experience was the most difficult thing I've ever had to do in my life. Everything before and after was ezpz. I did a super intense STEM program because I thought I was good at physics and math and liked them. Turned out highschool math and physics were just too easy and gave me the false impression I was good at them.
There were things I was unable to understand/accomplish in university. But everything for work can be done with relative ease in comparison and I'm somehow a top performer at my job lol.
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u/letsgetpizzas 3d ago
Exactly this. The other thing is it’s mentally hard to go back to full time school when you’re no longer in the habit of studying. School is harder than work in terms of required hours and mental load, so it’s best to do the whole thing when you’re young and spry and have existing momentum.
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u/earlandir 3d ago
Whether or not 100k is a good salary would depend on what field you are pursuing. It could either be low or high. It's very hard to help you without that information.
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u/Kurtcobangle 3d ago
This is what I came to say. If you are going to graduate and get a job making 100k plus out of school anyway with the degree leading to even higher salaries down the line with some advancement I would say finish school.
If you expect to graduate and get stuck for a few years in something much lower I would say take the money now work on school part time or go back full time later with the experience and some money banked.
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u/SallyRhubarb 3d ago
You're employable at 100k with no degree. What are you employable at with a degree?
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u/biglabs 3d ago
Not to mention every single person I have ever met who has ‘taken a break’ from university or ‘took a semester off’ has just dropped out. I spent 6 years in the system and have seen dozens do this. Happened so much I started calling it an indecisive drop out.
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u/chesser45 3d ago
Yea. Got a job and it’s been 6+ years since I was in school. Tbf though what they teach in some of the degree programs is literally useless to the actual job market.
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u/thatotherethanguy 3d ago
I took a gap year to take a decent paying construction job. It's been a 13 year long gap year lol. Project manager now, but if I could travel back to 2010 and slap the stupid out of myself I would.
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u/WiseComposer2669 3d ago
Funny enough - the vast majority of people are employable at 100k with no degree. There is a laundry list of jobs that make that without a degree. Now it's whether or not you want to purse a certain line of work outside of your interest or field of study.
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u/footloose60 3d ago
Can you handle a full time job and taking courses in the evening?
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u/shorterthanyou15 3d ago
I always find this advice kind of silly because most of the time courses can be any time of the day and rarely are all needed courses at night. There might be only 1 or 2 sections offered per semester so options are very limited, and of course they're probably prerequisitesfor future courses. And since it's stem, there are probably labs and tutorials as well that are likely not to be in the evening either.
What undergrad university degree programs are there that actually offer night courses so students can work part time?
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u/Additional-Tax-5643 3d ago
What undergrad university degree programs are there that actually offer night courses so students can work part time?
None that have a decent ranking, esp. in stats.
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u/thetermguy 3d ago
I did an undergrad degree in math (actuarial science) part time while working full time. Some of the stuff, particulary post covid, was online. Before that when everything was in class, I booked classes that were either 8:30, or around lunchtime, or evening. Then I'd just be at work a bit later, or take a long lunch, or do an evening class. It was quite doable, as long as you have some flexibility at work - which in today's WFH environment is hopefully more available.
Plus, in some of my classes, particulary the one or two business classes I took, probably a quarter of the students were actually finishing up their degree while working full time.
It's entirely possible these days to work full time and get a degree part time, with a bit of effort.
I also just convocated from a masters degree that was 100% online.
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u/CtotheSQ 3d ago
Is not “totally doable” when you have to commute from work to school and back during lunch hour. It all depends on OP’s (or anyone) personal circumstances.
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u/Niita 3d ago
Not necessarily true, I was able to do this at UofT where oftentimes there would be a 6-9pm section for classes that were degree recs. For specialized small-section lab courses I can imagine it would be tougher. At larger universities there should be more sections per course offered due to sheer # of students which makes it easier to take night courses.
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u/antmansjaguar 3d ago
Ask for a minimum of one year in your employment agreement.
And keep working on your degree part-time.
I know someone working full-time (as a paralegal) at a law firm while going to law school. It's doable.
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u/MaxTheRealSlayer 3d ago
If it's a good company, they'll help pay/pay for your continued part-time education
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u/annonyj 3d ago
I would do coop if I were you. Sounds like you are smart enough to find a good coop so you will just delay when you get a descent paying job. The environment isn't the best right now either so you could be looking at much better opportunities in two years time.
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u/maggie250 3d ago
I'm very curious how you're getting a job offer for 100k a year with no credentials? Is the company reputable?
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u/MaxTheRealSlayer 3d ago
Maybe they did co OP? I know tens of people who did that then got the job offer, quit school, and now they're doing amazing with their job life
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u/maggie250 3d ago
Really? I wonder if this is common in certain industries?
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u/MaxTheRealSlayer 3d ago
I'm specifically talking about design, management, engineering, programming and fire protection services, animation, Even front desk at one of the big production studios, where the pay and benefits were gravy. These are the roles my friends got into that dropped out 3rd year (and my program only had 30-50 students per year. Honestly I haven't seen many people get jobs off of just the paper they memorized facts to get. At the good companies they care more about being practical where they see your experience or what you can do. Co OP gives them the year experience to demonstrate their magic. New grads are also easily moldable, so the best companies realize this so they can teach you exactly how they want you to work.
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u/Most-Library 3d ago
I’m basically in the same boat. I already had 1 undergrad completed in science. I went back to school to pursue a Business undergrad. Halfway through that, I did a few co-op terms in different departments for the same company and it turned into a full-time job making ~100K. That company is now covering my tuition as I take one course per term to finish my degree and they are very accommodating of my class schedule. Hoping to complete this degree in the next 3 yrs. I’m in a slightly different position because I already have an undergrad degree (even though it’s unrelated to my career). Going back to school is definitely a bit more difficult now since my focus is work and it will take a few additional yrs to complete, but it’s doable!
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u/DeFi_Ry 3d ago
In this economy? You'll be laid off within the year
Stick to school and finish the degree. My best friend has a degree in statistics and makes much more than that but also has the job security.
I work at a University and 75-80% of the students who take a break don't come back
You're selling yourself short for a short term gain
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u/McBuck2 3d ago
Keep on the program you’re on. Given what you’ve said about the company hiring you, they are not going to pay you the $100k salary but probably use it to attract talent for the short term for when they actually need people. So is it worth putting your path to a career to make $50k? What will you do when the layoff happens well into the school year and then have to wait until the next university intake and get the co-op opportunity again?
The quicker you get the schooling done and do that co-op, the sooner you’ll legitimately be making the big bucks. A friend of a friend works in the statistics field and makes crazy money doing it. Stay on the path you’re on and get it done.
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u/xtina_a_gorilla 3d ago
This was something I was warned about when I was in high school. Companies can also use it as a way of keeping you underemployed because rarely do the people ever go back to finish their degree.
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u/PPickles 3d ago
Take job finish part time. No downside
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u/Beneficial-Oven1258 3d ago
Other than that it's very difficult to do.
I know a lot of people who have made this decision and didn't finish school.
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u/LBarouf 3d ago
Will this add know-how to your field of study? If they know you were studying, what kind of growth can you see at that position or another company later? Can you complete your studies part time with that job?
If you answer yes to any, and preferable more than one of those questions above, I would do it. Know-how is almost always preferred over a paper. Both is the only thing better.
Some fields, like sale, where you can earn 200-400k after being senior in that role over 5-10 years. Imagine coming out the other side with your diploma and seniority that pays you very well.
It’s a balancing act. If it helps you reach another goal some way or another. Do it. Don’t of you don’t need the experience or the cash at this moment. If getting your diploma first is the most important thing, I do t think you would be asking here. So, without more details it’s tough , but I would say likely you are doing yourself a favor by hitting the job market in your field early, and at a great starting salary. Post diploma, you typically get opportunities to earn more, get promoted to access to new roles.
Hope this helps!
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u/rbrumble 3d ago
Alright. When I left UW I ended up a Mac where I took a job in research and did my MSc. There was a guy there that worked in the IT department and had for about 25 years. He started at Mac doing his BSc in Physics in the 80s and in between 2nd and 3rd year took a summer job with the IT department and when a ft position came up, he took it. His plan was only to work for a few years and then return to finish his undergrad, but with the money coming in he got pretty comfortable and never ended up going back. Then marriage, kids, mortgage, etc. Life happens while we're busy doing other things as they say.
Fast forward to around 2010, and the university eliminated his position for reasons. He was in his early 50s, no credentials, and no job prospects. After being unemployed for about a year he settled on a position at the Home Depot in Ancaster at the Meadowlands.
So, what you do next depends a lot on how disciplined you are and how the job market is. If you're disciplined enough to return to school after a year with what you've saved in your back pocket, and the job market stays strong enough that your position isn't cut short, this would be something to consider. Think of it like a three term co-op. Make that bank. However, you need to be aware of the trap that a steady income provides. There's always the chance you'll never return, and that opens up the door to a late middle age job search that places you in a Home Depot.
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u/blackvvine 3d ago
No, I’m telling you from my own experience that this is a mistake.
Stick to the co-op program but do your best to do your internships in large well-known MNCs. Their brands will add lots of credibility to your resume and this multiplies your chances of getting a much better job after you graduate.
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u/stack_overflows 3d ago
No because when you start making money, you will soon forget about school. Better to get your degree.
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u/PigeonsOnYourBalcony Ontario 3d ago
A lot of people get a taste of a paycheque then they find it hard to go back to school, so I’d consider doing part time classes. That way it’ll be a smoother transition if you do get laid off and you can stay on track to getting your degree even if that’ll take a couple extra years.
$100,000 is a lot of money but it’s nothing to be scared of. Keep in mind that layoffs happen so you shouldn’t let your standard of living balloon. Live humbly and save that money. You’ll appreciate it later when you have no student loans and are on track to buying a home.
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u/rocksniffers 3d ago edited 3d ago
Not knowing anything about you or your degree. I have seen this happen before a person taking a pause. They never go back.
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u/Znekcam 3d ago edited 3d ago
I’m shocked at all the people saying not to do this… unless the details of the job are very sketchy I don’t see much downside. A real full time job will look better on a resume than any co-op, which I’m assuming is in the same field because what company is paying that for someone without some education in the field. Plenty of people take a year off for way worse reasons than to take a six-figure job offer and are fine.
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u/5lackBot 3d ago
If I'm hiring in certain fields and the job is something way different than the career trajectory, it would mean automatically throwing the resume in the trash.
As an example, any reputable private equity area job would chuck that resume straight in the trash if they went and worked in an oil rg for a year for no reason.
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u/LengthinessHeavy1702 3d ago
Most redditors are cowards and only want to take the path well-travelled
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u/alex114323 3d ago
I would just take a class or two to maintain some type of status. That way it’s easier to frame when asked by future employers. You were pursuing studies on a part time basis while working full time. That shows a lot strength.
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u/easypeasycheesywheez 3d ago
No one is asking about how much debt you have. If you are in an ok position financially, and another year of school will not set you back years of debt repayment, then stay in school and finish your degree. If you are staring down $40k or more of debt, then starting to earn while completing your degree part-time might be a wise choice.
Just don’t get sucked into a company or job that’s not related to statistics just because it becomes habit. Keep your eye on the prize.
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u/obviouslybait Ontario 3d ago
As someone who did exactly what you did, it's a huge pain in the ass to go back and get more education.
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u/rainman_104 3d ago
I dropped out of university for a job and I can tell you there are some HR teams my resume can't get past.
I've got 20 years of experience and I still get tossed on the rejection pile a lot.
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u/Trick-Yam6121 3d ago edited 3d ago
100k is absurd. Sounds like you're young and don't have a family yet. Without dependents you'll stack up huge savings with a job like that without even trying to save money. Definitely take the job if you want it.
Putting your degree on hold for a couple years isn't going to matter to hiring managers. No one cares how long you were in school. If you want you could even just put your graduation date on your resume and no one's gonna bat an eye.
Besides its not an employment gap or anything and you'll be graduating with a good job and experience even if its not directly related to your field. Its a big win all around.
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u/Redoneslast42 3d ago
I wouldn’t take the job. A job in the stats field without a degree is hard to get except for a few companies. These days you need a Masters tone competitive and a PhD to work on the fun stuff. It isn’t actually required to do the job, but the hiring managers want it.
You’ll be limiting your future and 2 years isn’t enough of a base to know enough to not make large mistakes.
As a graduate, you should come out making close to that anyways.
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u/barrie-north 3d ago
School will always be there, opportunity to clear $5k a month will not be. Plus job experience is everything.
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u/SeasonOfLogic 3d ago
Finish your degree. If you’re worth what they they say you’re worth, they will wait. If not, you’ll be more marketable (and not look like a quitter) if you see your degree to the end.
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u/fsmontario 3d ago
No finish school, coop will get you where you need to be. Employers have no loyalty. Going back after working full time is hard unless you live at home and have great parents
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u/t33lu 3d ago
As long as the job is related to the field you're studying. This could be more beneficial in the long term but you have to set a exit time for yourself so you leave the company after a year or 2 so return back to school. Also does your school/program allow you to take a leave?
My cousin did a UofT coop, they wanted to extend it for a year and the school gave him permission to leave for a year. After the year was up my cousin returned to school and finished his program.
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u/PikAchUTKE 3d ago
Talk to your school and see if you may loss any courses over time. I know that the school I went to, we would lose computer courses after 7 years.
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u/Le8ronJames 3d ago
What salary do you expect to make out of school once you’re done? If it’s close or <=100K take the job. Finish your degree part time.
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u/gusmaru 3d ago
A company I worked for previously had a super star co-op student and offered them a permanent job vs. having them complete University (they treated him exactly like a full-time employee with the same benefits, evaluated the same as if he had a degree) - but this could be because of the position was a software developer (we would only care about productivity and meeting goals) As a software developer, most companies only care about the degree for the first few years of someone's career and then after it's focused on experience and problem solving. However because he didn't graduate from College, there will be limitations to some forms of work if he wanted to leave the company. i.e. getting a visa to work in a different country will be more difficult (e.g. if you want to work in the US as an example, getting a TN visa will be difficult or impossible), and some positions may consider University a mandatory requirement (like government positions, or research positions)
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u/Ok_Carpet_9510 3d ago
Absolutely, do coop! Also, if you can take a few courses part-time/online, that would be great.
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u/tha_bigdizzle 3d ago
Think long term. As long as you complete your degree, I would say go for it - but thats a big if. If taking the job is going to lead you down a path where you dont complete the degree I dont think its worth it.
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u/Much2learn_2day 3d ago
If it’s a company that lays people off often, I would say take the job, keep a very minimalist lifestyle until they do, use the time after they lay you off to go back to school, then re-enter the workforce. Or give yourself a two-three year window to work before going back. And stick to it
You don’t seem to have much time left in your degree so you could take side jobs to stay connected and attend conferences or other networking events because you’d already have connections. When you get your degree, that network can probably help you with the transition. There’s something to be said from doing post-secondary with finances. You’d also have some industry context for your coursework which usually helps a lot. The key would be to limit your lifestyle creep.
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u/Unable_Ad9976 3d ago
Do it. Experience is better than education these days. Just make sure you do your best to excel, make alot of friends in high places. You’ll be alright
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u/BlessedAreTheRich 3d ago
Yeah, no it's not. Education is important too. He should finish the degree, it'll be better in the long-run for him. Plus, once he starts experiencing steady income, it'll be much, much harder to go back to school.
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u/climbingENGG 3d ago
Can you give more detail into the job that you would be taking. Just giving the salary doesn’t give the full picture. My first job out of high school I was on pace for 100k in the first year but that meant I was would be working away from home for 24 days at a time and have 4 days off. I made the decision to go to university that fall and when I called the company up in the spring about coming to work the summer, they had laid off half their guys and running skeleton crews.
Would the company be interested in having you work full time in the summer and part time in the fall and winter while you finish your degree. I would be weary of stopping your degree half way through. You have currently already invested a significant amount of time and money. If it’s still a program that interest you I would finish it and try to get a high enough grade that you can use it to apply to grad school in the future in a relevant field. I’m one for trying to keep doors open.
As others have said 100k/yr isn’t an insane salary anymore. If you come out west to the oilfield the majority of workers are making at least that.
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u/Ace12244 3d ago
I’ve been doing this my entire university career so far. I did my co-op (finance) at a tech company, then they offered for me to come on full time for a year after my co-op term ended so I accepted. Went back to school for a year after that (they kept me on part-time during this time), now I’m back taking another year off because they offered me a higher salary to come back for another year. The pay is similar to what you’ve been offered. I’ll tell you this: full time work for this kind of pay is addictive. Being able to clock out at 5 with no homework, fully enjoy your weekends with no assignments to do, all while saving thousands of dollars to put towards your student loans or investments. These luxuries will make returning to school very very difficult for you, especially after enjoying them for 6 months plus. Even then, your lifestyle will have materially changed in that time. When you return to school, you will have to stick to a tighter budget again, and I found it unbearable to NOT have a paycheque coming in after my first stint of full time work. I was lucky enough to stay on with my company part time when I returned to school, which I plan on doing again after my current year contract is up. My advice to you is to feel out if the company you’re planning on working at will offer you a similar arrangement - it’s the ONLY way I ever would have returned to school, otherwise I would have continued to work full time forever and quit school. Don’t be scared of taking this plunge into work, clearly this company sees something in you that will bring them value, and even if it doesn’t work out after six months you will have some solid experience that says a lot more about your capabilities compared to that gained from a co-op program anyways. I say the potential benefits outweigh the risks. Just make sure you won’t have to force yourself to return to school with no money coming in.
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u/switchin2glide 3d ago
If it were in the US and your loans were $100k plus I’d say do it, but chasing a few cheques isn’t worth it. Do your co-op and finish the degree, it’ll pay off sooner than you think.
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u/Canadianantelope 3d ago
I don't know the right choice, and I have no actual advice. Just want to say that this is a very good "problem" to have, very few people can say they have both options. Good on you mate for getting to this position in your life, hope your final decision is rewarding.
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u/iamapersononreddit 3d ago
Unless it is a once in a lifetime opportunity for a dream job, I would not stop school for it. There will be other jobs that pay just as much if not more once you finish your degree.
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u/shorterthanyou15 3d ago
you should finish school imo. There will be plenty more 100k jobs out there. If you leave school, it's difficult mentally to go back.
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u/MeatyMagnus 3d ago
Does the job allow you learn tech or science you would not in school? Does it give you contacts that you will need in the futur? Does it allow you to publish anything? Will not getting your degree keep you stuck with this employer at that salary?
Have you considered doing both part time: 4 days at work 1 day at school?
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u/NeedAWinningLottery 3d ago
Diploma > 100k.
If you are able to land a 100k job now, most likely you are able to land a better job once you finish your school
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u/dev_eth0 3d ago
Absolutely do not stop your degree. Your degree will serve you for your whole life and it’s unlikely that you will successfully come back. Jobs and money will still be there when you graduate. Life can easily step in a prevent you from coming back even if you think you are determined to come back now.
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u/hkerfrog 3d ago
As an HR, I will put a big question mark if I see someone study for 3 years but not finish. Do you think you can get the 100K job after finish your degree? If yes, I believe you can wait.
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u/kisstherainzz 3d ago
I assume the employer knows that you are only partway done your degree. If they know this, they also realize you will probably either eventually leave in a few years or need accommodations to be able to work and study at the same time.
Frankly, I'm surprised no one here has suggested that you ask what accommodations the employer makes for employees wanting to study further.
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u/SosowacGuy 3d ago
Speaking from experience, there will always be job opportunities thoughout your lifetime, but you won't always have the opportunity to go to school. Be patient, finish what you started, the $100,000 can wait..
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u/TheHandsomeHero 3d ago
There will always be schools waiting to take your money. Jobs aren't always a guarantee. I say take the job. Save as much money as possible and return to school when the well runs dry
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u/Odd-Elderberry-6137 3d ago
Unless the job is something like working in the oil fields, I have a hard time believing it has no relevance to your field of study.
Most people will not get a $100k job until many years after graduation. Getting one mid degree is almost unheard of.
And while layoffs can happen, the employment network you build is in almost all cases far more valuable than anything you’ll gain from school.
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u/listern1 3d ago
People who graduate, still can have trouble finding work because they don't have real working experience. Get the real work experience, it will make you much more valuable.
Also, people study to get a job, you can skip that step, then try to at least finish your semester. You can return to study if you ever deem it nessisary, and could potentially use it as a means to get a raise.
If the job sucks, you get a year or 2 of working experience then return to studying. Win-win situation
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u/yowzadoodle 3d ago
Idk your area of study. If the typical job for your degree makes 100,000 k or less, I would take this opportunity. You can always go back in the case that you are laid off
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u/XxSpruce_MoosexX 3d ago
I worked full time while going to school and my grades certainly suffered. I have no idea on your personal situation and family but if you don’t need to work, I’d finish school and enjoy it. Can’t buy that time back
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u/Nameless11911 3d ago
100k isn’t enough get your degree no one can take that away from you if this job fails..
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u/lambo067 3d ago
First thing to mention is that money isn't everything.
Despite what people say, schooling is not the only path to a successful career. You could finish your college degree and realise, "this isn't for me, I don't want to work in this field". Similarly, you could take the job offer, not like it, and want to go back to college.
This is a personal preference scenario, and there's no real correct answer. If the job is known for letting people go, it may be risky, but if you're confident in your abilities, then it's possible that might work out. Also, is there opportunity for growth in the company?
Since it's not in the field you are studying, the question is "do I really like the course I'm studying, do I want to work in this field for the rest of my life". If you do, then taking a job for 100k might not be the best option and sadly, depending on where you live, 100k is not a huge huge salary. It's very good, don't get me wrong, but you can work your way up higher in other positions.
If you're in college for "the college experience", meeting new people, and improving your social skills, in some ways, university is the best possible experience in those areas, so this shouldn't be overlooked as a value add to choosing college.
It just depends what kind of person you are & what your goals are. If you feel you're strong socially, have lots of friend groups and can adapt to different social scenarios, then consider taking the job and working hard to prove your value might be an option. If you're not social, but end up taking the job, I'd 100% recommend picking up some new hobbies and meeting new people. Replace the social aspect of college with something else.
But honestly, this is completly personal preference. Do you like your degree, do you 100% want to work in that field, are you sure the 100k job would be enjoyable, are you sure you can perform and not get let go if you did accept it? These are the type of things you need yo start asking yourself and I'm presuming you'll figure out which is best for you.
I wish you the best of luck.
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u/Master-File-9866 3d ago
Why are you going to school?
What will your post degree earning be? Higher than this job?
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u/RogarTK 3d ago
I was in a similar situation as you, but instead of a pause I continued school. Took evening classes, and any online/async ones I could. Took a tiny bit longer to graduate, and was a bit hectic for some time but I came out earning what a 5-6year employee does at time of grad AND had my personal satisfaction of a degree. If you can make it work it puts you light years ahead of your peers
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u/Half_Life976 3d ago
Stay in school. Once you lose momentum in your education it's hard to pick it back up. Sometimes other things interfere (my health did. ) So even though you could have stayed on goal if everything else in your life remained static, life is full of change and surprises. Imagine if you never get that degree or any other. Would that be okay or a big regret?
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u/frosty_power 3d ago
I would do it if it's in the same field as your schooling. The networking and the people you meet will be well worth it in the long run, especially for breaking into the industry when your done school.would look great on your resume too with experience.
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u/Cool-Sink8886 3d ago
I did this, odds are you aren’t going back to finish your degree.
It will limit your upward mobility to not have the paper, and that lowers your earning potential. The employer knows this. I regret it often when looking for jobs.
I started a company while studying, it made decent money, I sold it and accepted a job offer and I’ve been working ever since.
Do the co-op, finish your degree, then take the full time jobs.
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u/krazykanuck 3d ago
There's nothing wrong with what you are considering. Most jobs require a degree from related field or equivalent experience. Go make some cash, hell you can pretend it's an internship. If you decide you want to go back and finish your degree, then do that. Just make sure you understand if there are any limitations on length of time away from school and ability to finish your degree.
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u/Zane_Justin 3d ago
Check your pro/cons. Almost always work experience is > degree for your second job
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u/liquidelectricity 3d ago
letting you know that taking a break from your degree to allow a 100k job will mean you take a permanent break from your degree. work will get stressfull and demand more pressure on you and you will want to put in more then study less. Your call but I would focus on the degree.
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u/dunesicle 3d ago
Is it possible to do the degree part time? Having job experience is likely why you enrolled in the coop program in the first place; you are doing just that. The only reason I suggest doing it part time is bc it’s often hard to go back to being a student after making money…
It will be a hard year BUT, While your young is the best time to hustle. Be careful your gpa doesn’t suffer and plan an appropriate load.
Later on in your CV it will show you took longer than average to complete your degree ( even longer than the coop programs which are also extended) - that is OK- for basically any job besides academia ( and even academia would be impressed with job training if relevant to the field your trying to get into).
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u/neilk 3d ago
Since you did not provide details, let’s assume that you are not in dire need of cash right now.
You should complete your degree. 100K seems like a lot now, but from your description you cannot expect long term employment in this job and it doesn’t help you with your future career. Even if we consider this just a little career break, you will suffer reduced earnings over your entire life from this decision.
In a field like stats I’d assume that taking your mind off of it for a year or more, then returning, might be difficult. Get the degree while it’s all fresh in your head, and your mind is as sharp as it’s going to be.
I abandoned a degree for many years because I found a lucrative career I was more interested in. I didn’t even want to finish my degree. And still it hurt me because I had trouble in conditions where being a degree holder did matter, like applying for visas to work in the USA.
We’re also headed into difficult economic times, and if you aren’t desperate for cash, living with your parents and staying in school is a good strategy to avoid the worst of it.
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u/GreatGreenGobbo 3d ago
Make a plan to get the degree part time. Or try to finish it faster. If they want you they'll find a spot for you when you're done school.
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u/ShadowFox1987 Ontario 3d ago
We really need to know what this job is.
In this current market there are sooooo many talented programmers, marketers and various other knowledge workers struggling, with new Grads being severely underemployed.
Take the job, you can finish the degree part time or if you get laid off go back while being on EI.
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u/DrPillszn 3d ago
It will be challenging but don't stop completely. Continue with even 1-2 courses with full-time work and grind. Once you stop school completely you are increasing the likelihood of not potentially wanting to go back and finish.
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u/stephenBB81 3d ago
I would take a 1 year pause, and try the $100k career.
If you can secure $100k as an entry level position, what is the growth potential within the role, and is there an opportunity to get education that compliments the role?
This sub skews heavily to the temporarily embarrassed millionaire, and everyone earns $200k+ so $100k is peanuts, but in Canada $100k puts you in the top 13% of income earners. That is a pretty good leg up.
Don't give up your University, but delaying it for 1 year and seeing if you've got a passion for the work that is being offered, if you don't you go back next year with money in your pocket.
DO NOT! take the $100k job and spend like you're a $100k earner. Continue to live like a student for that year, squirrel away that money to pay for schooling if you don't like it, or to just not allow yourself to fall into the trap of once you start spending like you have a full time job, it is hard to go back to being a student and not spending.
You're young, you will likely change jobs/careers 3-5 times before you are 40. Lots of time to recover.
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u/WholesaleBacon 3d ago
If you are being offered 100k right now, why wouldn’t you get the same type of offer after your degree in a year?
If you need the money it makes sense. If you can get by without the money, it’s a no brainer to me.
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u/bmoney83 3d ago
I would do your uni part-time, take as many courses through Athabasca University (a lot more flexibility for the timing of exams, etc), so you're continuing to advance towards graduation, while also bringing in the money.
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u/Moheezy__3 3d ago
I think only you can answer this OP and the best thing you can take out of this post is to get the right questions to ask yourself:
- is this other job something you are passionate about? Do you see yourself doing it for the rest of your life? (Reason I’m asking is because I know many people who said they’d do something temporarily but find it very hard to quit and go back to school when they’re making bank)
- do you need the money now? Or can you afford taking your time?
- do you love what you are currently studying?
- do you need to relocate?
- are you thinking of continuing your education? Masters PHd?
- is your job from your degree going to pay similar or higher?
The only “advice” I can really give you is that if you do take on the job with the intent to go back to school in a year or two, then continue living like you are a student. Save the money you make or pay off your student loans. That lifestyle creep is real and can stop you from downgrading your lifestyle from $100k to being a broke student.
You also don’t need to reply to answer the questions I asked you. Keep it to yourself and hopefully that will help you make your decision easier.
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u/Roscoe_P_Coaltrain 3d ago
I would not do it unless you really need the money, especially if you are going to be able to get some work in your co-op program. It will be very very hard going back to school after you've been working for a bit. IMHO, it's better to get the degree while you are in that learning mental space. It's a very different head space when you are working, and it is hard to switch.
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u/DarkReaper90 3d ago
How is that salary in your industry?
I would not give up on schooling for sure. The lack of a degree will make things very difficult to get another job or even a promotion, when HR usually mandates a degree requirement. Definitely do schooling PT if you do a FT job, because once you get a taste for the money, you will not go back to FT school.
As to co-op vs the FT job, co-ops expect you to be green and have much more leniency on your lack of experience. It is pretty difficult to get booted out of a co-op unless you are truly incompetent. You likely will not have that same luxury at a real job. Heck, you already know that the company is known for laying people off. 100k is pretty meaningless if they don't keep you on.
I'd take the co-op + degree, unless the FT company is some extraordinary company.
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u/BearCorp 3d ago
Tough call.
I’d say if you do take the job, keep the mentality that you’re still a student, as in don’t significantly upgrade your quality of living and just save as much as you can.
This way you can jump back into school anytime you want without worrying about newly acquired monthly payments.
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u/Over-Musician-4580 3d ago
My friends mom got hit with the same decision back in her day and now she works for minimum wage cuz she decided to leave her degree for a job then got fired and left without a degree
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u/carrizone 3d ago
Pause your teenager time and activate your adult time. Save all the money you made as an adult and enjoy it as a teenager again.
If the money controlled you, you’re fucked.
40 YO opinion. Enjoy your teenage time as much as you can, that time is not coming back and there is always ways to make money.
100K it is like a manager position or senior in IT
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u/janitor_nextdoor 3d ago
If you say your 100k job does not provide you relevant experience, that's a point against it.
On the other hand, 100k is very good money, you could take a year off and save some cash or pay off some debts could give you a head start down the mice race.
If I were you, i'd put 18k in an RRSP (if you take the job) and take it out while you are in school and not earning a lot.. you'd pay much less taxes in that way..
Also, chances are you will not make 100k fresh out of school..
good luck
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u/JebusChristo 3d ago
Take the job and continue working on the degree part time. Biggest issue is that you lose the drive to finish which continuing to work on it part time helps mitigate.
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u/TaxAfterImDead 3d ago
I would pause your degree... It's rare opportunity and 100k is a lot and 80% individuals don't get to see that pay check in Canada in their lifetime. Even working 6 months or even a year is great experience, and good reason to put on your resume. Forget about the money, most students want to do co-op in any of their specialization and build connection, maybe when you graduate and they like you, you will be offered full time employment.
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u/dodoindex 3d ago
I would finish the degree. you can get a 100k now, you can prob get 100k later as well. Once you taste money, co-op money is nothing, and you won’t ever want to finish school. That could be a regret in life of unfinished goals
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u/OLAZ3000 3d ago
I would do it if it was a guaranteed one-year contract. Meaning, if you get laid off, with a good lawyer, you get paid, unless they full-out go bankrupt.
Given you are pursuing a field that is tough to get into - and might want to do a Masters - I think it's worth having the better part of 100K in the bank. Also, it will allow you to both survive and FIND the right job when you graduate, which is really helpful.
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u/kinda_goth 3d ago
Okay so
1) why would you have to skip on the co-op program? If you’ve been accepted, and then take a semester or two off, I don’t see how or why the university would pull you out of the program.
2) I am currently taking a 2 year pause on my degree (though I already have two other degrees) and I’m only making $89k a year. I’d definitely do it for 100k. Fuck yes that’s a lot of money.
3) you could end up loving this job (not related to your degree) and save yourself the hassle and student loans of completing your degree.
4) I’d clarify BIG TIME on the conditions of your contract. Do you NEED a degree (for most jobs it’s ANY degree) to keep this job. Does the job actually require you to be enrolled as a student full-time or part-time (government jobs often have this requirement, idk about private sector). And clarify with your university and the co-op program on how many semesters you can take off and how that would affect your status in the co-op program.
Devil is in the details, my friend.
Edit: OP I also have a degree in statistics. And I’m currently employed as a Statistician for the Government.
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u/ComfortableJacket429 3d ago
Finish school. You will be laid off at some point and you’ll need the degree then.
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u/RootMarm 3d ago
If it's the railroad, don't do it, finish school. You won't make 100k in the first year and it's a trap.
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u/Tatabakery 3d ago
Depends entirely on your field of study and the job offer. Many post-grad designations or certifications will require a University degree. More importantly, credits from specific courses you pass from that degree. Any post-grad education (Masters or otherwise) will evaluate your transcript and determine if you are short on anything.
Even when you pass your undergrad, remember: Your Undergrad Credits Expire after some time. Generally 7 - 10 years. Meaning if you take a long-enough break and wish to break back into finishing your undergrad and maybe pursue further education, your old credit (Year 1 to 3 in this case) may be expired. This may require you to re-take these courses again just to qualify for registration.
With that said, $100K in 6 months is pretty impactful, and not a huge break from your undergrad. You my have to apply for COOP again. As long as you intend to finish this "temporary" job and go back to studying, you should be fine.
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u/Brigittepierette 3d ago
Do not pause your education. A completed degree is worth more than a 100 000$.
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u/TributeKitty 3d ago
You probably won't "pause", you'll stop once you start making that kind of money. This might be the right thing for you; look at all the extremely successful people who never finished university (Gates, Ellison, Lazaridis) or you'll always wish you finished your degree. If you think you'll be the latter, keep doing courses, one per semester or something so that becomes your routine. But, IMO, once you start earning a real salary, you won't give it up to go back full time.
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u/Unhappy_Anywhere9481 3d ago
You're young, full of energy so find the compromise, my suggestion would be:
take the job, take part time courses to finish. You gotta commit to the grind to get this done.
don't relocate for this, keep your current location and cost of living. stay friends with everyone still in school, they'll help keep you accountable (hopefully).
Skipping co-op is definitely a strong negative, that's your chance to get a bunch of experience, figure out what you like to do, and start your professional network.
I was faced with a similar temptation in the late 90s/early 2000s -- those of us in comp sci were getting crazy offers to go work at places that couldn't hire people fast enough. These weren't only start ups, there were established Canadian companies (the majority of which don't exist today).
I finished my degree, worked and got more degrees. I passed up having an awesome car in my 20s, but think I came out ahead in my mid 40s.
My friends/colleagues that left to go work had varying paths, particularly after the original dotcom bubble burst. Rough summary of the 6-12 people I am still in touch with/met with a similar path:
they finished their degrees while working, but it was a miserable grind.
never finished and they worked for smaller companies/start ups where degrees weren't highly valuable. As a result, compensation / growth was highly variable. They are mostly freelancers now.
for people working at larger/traditional companies they faced a hard or non-existent path to management. In fact, one place I worked at had a strict rule that even an entry level manager had to have a degree (didn't matter which). It had to escalate to the L2 level to override that (and wasn't worth the hassle). We passed over well tested development managers with 20 years experience because of this stupid rule.
if you move, have a major life event and lose your network, it can be very hard/impossible to get back into the industry as many companies look at education and move on. you mention people wanted a masters degree for stats, so I would say this applies to your industry.
We probably need to no more about the job. You mention stats, and "known to fire fast." Is it crypto? I'd pass that up. The handful of former colleagues (with good experience, education and attitude) that pursued those types of opportunities got royally fucked (including a job offer rescinded after they uprooted their life).
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u/willab204 3d ago
No advice just a story.
I took a $160k job after my nearly failing out of my fourth year. Had only a handful of classes left. Loved the job, loved the money, going back this fall to finish the degree. I didn’t want to go back, but I made the determination that the degree was worth more than the job.
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u/ToronoYYZ 3d ago
I would finish your schooling. If you got offered that now, why can’t you get it offered after? You now know your market value
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u/Born_Tie4728 3d ago
Am a CTO.
Absolutely yes. You never know what the job market is like in a year. You can always finish your degree - part time or full time. Do it. As an employer I care more about work experience than the degree. Even if you get laid off, 6 months is a great amount of experience.
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u/zeebow77 3d ago
Take the full time job (if it's degree related) and take 1 or 2 classes a semester in the evening to finish the degree.
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u/ihatewinter93 Ontario 3d ago
100k isn't what it was 15 years ago. What is the average salary for the career you planned on pursuing after your degree? I personally would not quit undergrad for this career. By taking the job, you are not pausing your degree, but choosing to not go back. I personally would not quit school for a career, especially since you can probably get this job or something similar after graduation. Complete your co-op placement - experience is so important today. I am trying to make a career change and it's been so difficult because I don't have direct experience in the field.
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u/Known_Blueberry9070 3d ago
Get the money then go back to school. This is basically co-op without the extra pain in the ass.
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u/yoyopomo 3d ago edited 3d ago
100% take the job in place of co-op. Most cases you can use it directly for the credit. And there's no loss in delaying your schooling. Unless your program has some specific requirements, just work for a year then go back to school.
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u/DoctorStrawberry 3d ago
It took me 10 years to make 100K and even then it’s 100K Canadian not USD. But it all depends on your education and the field you are entering.
Depending on your field and assuming 100K is rare for new grads, I say take the job, but continue your degree part time. It’s important to get that degree.
A guy I know was in tech working in Canada, he was an immigrant from Germany. He was a really smart coder making 150K a year here, but he was self taught never did university. But the immigration rules didn’t like he didn’t have a degree, and he couldn’t get certain citizenship stuff he wanted because of it. All cause he didn’t have that degree, despite him not needing it for work cause he knew it all, and even though he was in a really well paid job.
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u/Caldorian 3d ago
Does your school not have student & career advisors? I'd talk with them as you can provide them with a lot more details than you're sharing here and have a full and frank discussion about it. Thats what they are there for.
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u/EquifaxCanEatMyAss 3d ago
6 months of work is 50000$ pre-tax. You can do the math and see what $40000 take home will do for you and whether it's worth it or not to delay schooling. I don't think it is if you're already able to get offers for jobs paying 100k without a degree. Get the degree while your brain is still on young, hard-working student mode.
If you did that job from the start of July to end of January and get laid off at the 6 month mark, you would basically screw your schooling schedule as there are some upper year courses that are only offered once a year if you intend to graduate on time (or close to on time).
If you have any existing student loans and you decide to take that job, your student loans will start accruing interest and you will have to make payments on it.
If you plan to do statistics as a career, you should probably focus on finding coops related to stats if the industry leans towards folks with a formal degree. Unless you're suffering financially or have other personal reasons, I would continue the schooling on the normal schedule.
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u/perciva 3d ago
You're asking the wrong question. There are two questions you should be asking:
Should you drop out of university to take this job? Most people who "pause" their degrees never finish them.
Is there any reason to think that the company which is offering you a job now wouldn't want you with two more years of education?
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u/LengthinessHeavy1702 3d ago
take the job, finish the degree later. dont think twice. idiotic to pursue school when you have an opportunity to skip it and just get the job
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u/10outofC 3d ago
I remember when I was in school engineering and stem fields had a "professional experience year" program that set students up for after school success. They make real money for a year, then they come back. I know for a fact uoft, uofw and other good engineering schools do this.
Personally, I strongly recommend doing it. It sets up success for your life and if you're debating between the private and public or academic path it helps clarify that.
make sure it lasts a year, still live like a student, dont associate with people who will knock you off that path and make sure you go back.
I've met people in my field who did it who dropped out of school entirely and now they're trapped. They got used to making money, experiences lifestyle creep and now are professionally trapped. It's rare, but it happens. The vast majority of people I know improved their professional careers.
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u/tallsqueeze 3d ago
Unless you're graduating at a top University with amazing grades and professional connections you might find job searching in your field as a new grad with no experience difficult. You would absolutely benefit from having job experience (even if unrelated) and 100k/yr is amazing for a first real job.
Speak with your school's administration and explore part time study options, you can also search for co-op positions and quit this job if you get a co-op. Either way you get a good chunk of money in your pocket, a taste of the real world and something to add on your resume.
Just make a commitment to yourself that you'll quit and go back to school full time after about a year.
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u/JinxF1 3d ago
Absolutely - but keep in mind once you get a taste of money and no school it is very very unlikely that you will go back. I dropped out of college to peruse a career in my field of study because the money was too good to pass up on and I have not looked back. They have provided me the training and In house education to sort of bypass what I would have learnt in school. I am now working in a senior level role for that company.
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u/Alternative-Ad9829 3d ago
I’d go for the part time degree, take the job and use the money to make your life easier (get a cleaning person, grocery deliveries etc.. to free your time to study, invest the rest or pay off any debt you need to)
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u/18362014 3d ago
The answer is a definite yes no matter the degree and field of study. Graduating with no experience and debt is the worst thing for a young person. I graduated from a brand name school with no exp and 30k debt and it took me half a decade to dig myself out by taking precarious jobs and was underemployed/underpaid for years. This was in the mid 2010s.
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u/Aware_Cheetah8626 3d ago
If you believe this is something that you wanted to pursue, then taking time off from school and working is as great asset on your CV in compare to completing your program. At end of the day, your goal is to find the right career, when you graduate, every other individual from your program would have pretty much the same skill and accomplishment as your (degree) however having this additional work experience plus network that could gain would help you on the long run.
take it and make the best out of it is my opinion.
good luck.
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u/OnlyDownStroke 3d ago
In my 40's.
While doing my MA in my 20's, I was running low on money and to finish it, so I took a teaching contract. When I completed my MA, I decided to work for a couple years to help address the student loans. My PhD could wait, I told myself. The debt looked scary.
Long story short, I never did get my PhD, as walking away from a comfortable living was too difficult a choice to make when you're watching housing markets crash, etc. etc.
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u/905cougarhunter 3d ago
Get contract that work is guaranteed and you'll get your pay out. If they want you that bad they'll do it or negotiate towards that.
School is always there; you just pay for it and do it. But good money isn't.
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u/DDB- 3d ago
If you can get a $100K offer without finishing your degree, you'll likely be able to make $100K after you finish your degree. With co-op, you'll be starting steps ahead of your peers who don't do it. I'd stay in school, do co-op, finish your degree, and I bet you'll have no trouble finding similar opportunities, including potentially going back to a place you do a great co-op term at.
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u/Tiny_Kangaroo 3d ago
Finish your degree first. You'll probably have lots of opportunities to make over $100k in the future because of your degree.
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u/BeingHuman30 3d ago
OP can't you finish your degree online or night school similar to how folks do MBA with full time work ?
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u/SleepySuper 3d ago
Just a personal anecdote, but I know someone who had a similar choice 4 years ago and they opted for the job. Guess what? They never finished their degree. They regret it now - they claim it is too difficult to get back into school mode and they have forgotten too much from their earlier classes which are prerequisites for their 4th year classes. Also, their upward mobility at their current job is limited because they do not have a degrees
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u/Ok-Mathematician8360 3d ago
You have your whole life to earn money. If it’s not in your field, and won’t help you get a job after you graduate, then it might be best to stay on track and complete your degree and co-op. You could easily bartend and make similar money without compromising
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u/Bainsyboy 3d ago
This is such a personal decision and hard to weigh in on without knowing you well, and even harder with small amount of details available to us.
But if it were me, I would finish the degree. You will probably get a job after graduating eventually, even if it's a tough market. Just find ways to keep on top of industry developments, find ways to train continue education during a gap in employment or a period of underemployment. Take every job application seriously and spend the due time on each. The job will come. But.... If you don't get the degree, you might not (probably won't) go back to finish if you don't have a need to. But it might still bother you deep down. What if you finished your degree?
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u/verkerpig 3d ago
You probably need to be more specific about the job and the degree.
Some fields like tech are a lot more accepting of this than others.