AIBU to want more?

[NoWayYesPlease]

Ok I'll admit I'm a money addict. I've name changed for this because it's identifying....Penis beaker tiny Korean lady.

So I'm currently a mortgage advisor, I'm now qualified in equity release and considering my training to become an IFA. This costs about £1000.

I want to earn more for my family,I do quite well and I am the breadwinner. I'm now thinking instead to put that £1000 instead towards a degree through OU somehow related to business/finance to progress in my career?

But I have a young family and my husband is worried I'd burn out trying to work full time and do an OU degree. He is extremely supportive and does the lions share at home as well as working full time. Neither of us could go part time or change hours etc.

Any advice on what kind of degree would help me earn even more than an IFA or just generally climb the ladder? Or advice on doing OU whilst working full time etc?

If not I'll just get back in my box and stop dreaming!

Meant to add I earn quite well but want to do more, I just want to make the future easier. I think what drives me is I grew up with nothing and want differently for my family. Anyway thanks!

How much do you earn? Hard to advise without knowing - the info to go from £35k to £60k is different to go from £60k to £100k

Thanks I currently earn about 40k per year

Anyone studying through OU?

If you're already qualified in things then I'm not sure a degree would add anything. I'd train to be an IFA.

An ou degree would take you six years and cost way more than £1k. I'm also not sure how it would help you progress unless a requirement to have a degree was blocking your progression.

Professional quals tend to be more useful once you're already in a sector. (Unless the degree block applies).

An MBA is the only kind of degree potentially useful as far as I'm aware for your area, but assume you mean a bachelor's. In which case it's used as an entry level qual, so don't really see how it would help you.

I have not been hugely academic in my past! I have A levels and GCSEs that's as far as I went. I guess I thought a degree would mean entry into more opportunities but if it's classed mainly as entry level and would possibly not take me anywhere I guess I'll just carry on my current path. Not sure if my current skills could be useful with a degree in a different industry?

I did a year of OU. It was great, and satisfying but really really hard work. I was a sahm of a pre schooler at the time so thought I would have plenty of time on my hands to study but I didn't. I ended up putting her to bed and sitting down to read or write and getting her dad to take her on long outings on his day off just so I could catch up. Maybe I'm not that disciplined but I did find it hard because you have to manage your time carefully. There was support but I thought it was unrealistic of me to think I could continue (I didn't as I live in Ireland so it was about €1,000 per module)

I know one other person who did the same course but got as far as three years before giving up. I found it much harder than regular uni where that is your main occupation.

You have to really want to do OU, an undergrad will end up costing you circa £30k and Wong necessarily mean you’ll earn more than £40k... you’ll need postgrad study for that so add another £8-12k for a masters or an MBA for £80-150k....

I’m doing another degree for fun on top of my full time work, is love to do an MBA but can’t affird that so just trying to boost my career in other ways (I’m a director of administration and want to move towards COO or similar) as I need a broad range of skills and some decent depth in key areas

Oh wow my naivity is really shining through. I'm not even sure what an MBA is let alone it could cost half the value of my house ok maybe back to basics reign it in her qualified and see where it takes me. Once a lack of degree gets in my way maybe I'll rethink. Thanks all!!

If you’re already on £40k then a degree isn’t going to really get you anywhere in terms of earning potential unless it’s something that you need to do a specific profession (law, medicine etc) or gets you on to some kind of investment banking graduate scheme.

It’s possible to do very well financially as an IFA - but you wouldn’t need a degree to do well in that field (and if you worked towards becoming a Chartered Financial Planner then that would give you a level 6 qualification anyway, which is the same level as an undergraduate degree)

Thank you! Exactly the kind of advice I needed. Appreciate the replies.

I’m currently studying with the OU and it’s £550 a year (6 years). I work from home part-time with two, one in nursery part-time and one at school.
It’s really hard work, fair enough I have a lot of freedom being able to mix things up but when an assignment is due and it’s half term, it’s tough.
I just think once you’ve come home, cooked tea, don’t the homework, put kids to bed (we do this together) then spend an hour an evening studying, it will be hard.
There has been so many drop outs since I started over a year ago because they couldn’t commit.
That’s just my thoughts on it

You can do an MBA even w/o a BA/BSc if you can prove suitable work experience. I am doing one myself now. I have done TONS of research and many unis put such info on their sites. With your earnings and industry exposure, an MBA would look better on your CV than a BA/BSc at this stage and is cheaper. Several brick unis deliver this online as well.

It’s not £550, £5500 for a full time year (sorry)

@linda30 thank you I wasn't aware I could go straight to something like that. Can you give me a rough idea on cost from your experience so far? Thanks

@Nodrama999 that's what I think my husband is worrying about. What if I couldn't give enough commitment or burned out taking on too much.

The cost really depends on the uni - the accredited courses (AMBA / EQUIS / AACSB) are all £15k + with Warwick asking for £30k + and Cambs £50k. I've gone for Uni of London, its £14k but received a scholarship for 50%. The other 50% is funded by my employer. You can now get a masters loan from the gvt that works just like the BA/BSc loan for max. £10k. Aston and NTU are the lowest price AMBA / EQUIS / AACSB accredited ones fully online. I personally didn't care for the AMBA etc as looking to get a CIMA & CMI level 7 instead which I can via the Uni of London MBA. PM me if you need more info.

Thanks I'll look into it then come back to you,appreciate your reply that has really helped.

A degree isn't going to really help you now so unless you have a burning passion for a subject I wouldn't recommend it. Train to become an IFA if it's just an earnings potential thing. At least you're almost guaranteed to get a return on your investment.

@Divgirl2 yes you're probably right £1000 investment to get qualified doesn't seem so bad now we've talked about MBAs etc. OR maybe at least count DIPfa as my first step and see where it leads,then if an MBA is relevant continue down that route. OR perhaps if I want to change industry. Thank you.