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  Canada Immigration Forum > About Canada > Study > Leaving full time job for full time school
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Leaving full time job for full time school




I am doing part-time MBA in one of the reputed GTA business schools. I am also working full time. I have two options now.

(1) Continuing my current job which means it will be end of 2013 by the time I finish my MBA.

(2) Leave my job and go to school for full time MBA for winter semester and then switch back to part-time in summer . By this route, I will finish my MBA in Aug 2013. I can then start my job search that match my current skills without capitalising on my MBA degree. So that I do not have to survive without any income hopefully for a long time.

As of now, option 2 sounds more desirable personally as I am having a tough time at my job. It pays OK, but it is very boring and I have to drag myself to work everyday. My performance isn't that great and is hurting me mentally and physically.

On flip side, there is some job security involved even with my mediocre performance. Going full time means leaving a secure job and treading into world of unknown. The economy is not doing that well and not sure how it will be next year. The job scenario for engineers is not that great in GTA. The reason for doing MBA was more about switching careers (engineering --> finance preferably) rather than advancing in my current field, as there isn't much scope for MBA in my field of work. Also, there is a lots of competition even among MBAs and the degree seems to have lost its shine.

I have enough savings to pay for my school fees and help me survive for next 4 months. After that, it means withdrawing from RRSP or using line of credit - the last resort. I am single - so no spousal support.

Also, age is not on my side. I am in my early 40s.

I don't mind moving to Alberta once I am done with my studies, as demand for engineers still seem to be existent. So I can fall back on my undergrad degree and experience for survival.

Any point of view/similar experience to share?


 
brown_desi

Junior Desi
Member since: Nov 12
Posts: 3
Location: GTA

Post ID: 202267 18-11-12 18:54:41
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bhootnath
Senior Desi
Member since: Mar 11




Posts: 969
Location:


If you are gaining only 4 months by switching to full time then in my opinion quitting job is not worth it...
So for gain of 4 months you will:
1) Quit your job which is paying you good thereby loosing the income for over a yeat
2) You will be spending your savings. (double loss)
3) You are uncertain how long it will take to get new job.

I think you can overcome the mental issues with the current job by thinking about the bright future ahead and treating this as a temporary phase. I am not too sure how you can get over the physical stress, as it depends a lot on commute, your physical conditions, nature of work, work-out etc.

By keeping the current job till it lasts while managing part time MBA you will not find yourself in a desperate situation at the end of MBA.

Hope this makes sense.


 
Post ID: 202280 19-11-12 11:07:48
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febpreet
Senior Desi
Member since: Jan 07




Posts: 3252
Location:


I agree with the above poster. In my opinion, carry on with your current arrangements, i.e. full time job with part time studies. This will make sure you have a steady flow of monies coming your way each month.

Moreover, who knows you might get promoted in your current place of work after your MBA is done. If this materializes, you won't even have to find another job and gain a valuable experience post MBA.

All the best! Stick to your current job. There's nothing like money flowing in every month in this day and age of recessions, job cuts, and what not.


 
Post ID: 202284 19-11-12 12:30:05
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san-hugo
Senior Desi
Member since: Aug 10




Posts: 2006
Location:


The answer for you lies in following questions :

Can you afford to go full time study without a job in hand ? do you have any liabilities like mortgage . Are you the only earning member in family ? do you have dependents ?

once you have cleared with above question, consider following.

Is your current job related with your MBA studies ? is there promotion prospect after MBA? the fact that you are dragging yourself to work, my guess will be 'no' ,
In case after MBA you ar sure it will be fresh start of a career, I 'll suggest go full time study, make relevant contacts, do internship, attend seminars and campus interviews. There is no point continuing with the current job. Go into the main stream full throttle , you wo'nt regret the decision.

Btw, its my perosnal viewpoint, purely , that I suspect your attitude towards work which will remain same even after MBA. If you are not performing well intentionally on current job and have no sense of professional prestige, I am sorry this will not go well in future as well. Work on your attitude.
Also remember 'reference' is important fact of job market and you are not doing well in that department.

15 years into industry and dealing with human resources, my observation is that a good employee remains good in all kind of work, even when entirely demotivated.









 
Post ID: 202287 19-11-12 14:18:50
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geetakhanna
Senior Desi
Member since: May 10




Posts: 274
Location:


Gosh.... This sure is some post....

What I gathered - you are pursuing an MBA - the value of which you do not have nor you see.....

You are employed in an engineering job - which bores you and where you are not
progressing.... There is however some stability in this job....

You wish to leave this job for the MBA.... And then you hope to find a job in engineering eventually....If you don't get a job with the MBA....

So.... You surely don't want what you have....


 
Post ID: 202300 19-11-12 22:31:57
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bhootnath
Senior Desi
Member since: Mar 11




Posts: 969
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mid-life crisis?

 
Post ID: 202314 20-11-12 11:45:03
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brown_desi
Junior Desi
Member since: Nov 12




Posts: 3
Location: GTA


Quote:
Originally posted by bhootnath

mid-life crisis?



Exactly!. Engineering was never my career of choice, and I don't see any future, esp in Canadian economy and the way industry is structured.

Thanks for all the input. I know that retaining my current job is the most rationale approach, but it is coming at the expense of my physical and mental well being. Never knew low self-esteem and job dissatisfaction can affect your physiological well being too. Seems that I will have to tug out at least for one more year.

Another problem is that my mortgage is due for renewal next year. So if I quit my current job, I have to find a job before the due date.

Quote:

..... , that I suspect your attitude towards work which will remain same even after MBA. If you are not performing well intentionally on current job and have no sense of professional prestige, I am sorry this will not go well in future as well. Work on your attitude. Also remember 'reference' is important fact of job market and you are not doing well in that department.

15 years into industry and dealing with human resources, my observation is that a good employee remains good in all kind of work, even when entirely demotivated.



I tend to disagree a bit on this point as I know about my performance in past. My current job is a compromise - to do something rather than being on EI. I know that I am associating my self-worth to a greater degree to the kind of work I do.

I still have a month and half to make a decision. Will let you guys know.

Thanks


 
Last edited by: brown_desi on 20-11-12 13:10:50
Post ID: 202318 20-11-12 13:06:09
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Pramod Chopra
Senior Desi
Member since: Sep 03




Posts: 1284
Location: Pickering, ON


Quote:
Originally posted by brown_desi

---------------

Another problem is that my mortgage is due for renewal next year. So if I quit my current job, I have to find a job before the due date.

---------------
Thanks



Other posters have given useful suggestions on your situation and hence I will only comment about the mortgage renewal.

Generally, when you simply renew with the existing lender and do not change your mortgage amount and or amortization, you DO NOT have to re qualify, however, you get the rates what your existing lender offers which may or may not be very competitive. And if you do not have a job at that time, you may have to accept whatever is offered and you MAY NOT have the luxury of rate shopping with other lenders. Hence, if you are going to be without a job at the time of renewal of mortgage, I would advise you to contact your existing lender and try to do an early renewal and since you have a good job right now, you will have some negotiating power and they may not charge any penalties OR charge reduced penalty for early renewal you may end up getting a very good 5 year rate right now.

Good Luck.

-----------------------------------------------------------------


Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada



 
Post ID: 202329 20-11-12 21:04:48
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dudewheresmycar
Senior Desi
Member since: Jan 07




Posts: 980
Location:



Switching careers @ 40 is pretty difficult.. Most finance jobs are in GTA.

My suggestion is suck it up and continue with Part time MBA.. Ur options will open up once u finish ur mba

I know what u are going through as i am in the same situation and i know it is hard and time consuming , and with a bad job can be very frustrating..



 
Post ID: 202364 22-11-12 00:27:52
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brown_desi
Junior Desi
Member since: Nov 12




Posts: 3
Location: GTA


Quote:
Originally posted by dudewheresmycar


Switching careers @ 40 is pretty difficult.. Most finance jobs are in GTA.





Agree about the age issue. Ideally, I would like to work as an analyst. But do not mind working in corporate finance for any firms either. Not interested in investment banking, consulting or any such other jobs that most finance grads dream about.


 
Post ID: 202394 22-11-12 20:38:45
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Contributors:
bhootnath(2)  brown_desi(3)  dudewheresmycar(1)  febpreet(1)  geetakhanna(1)  Pramod Chopra(1)  san-hugo(1)  
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