[Envuks]

Originally Posted by fravel

Don't go back to school. It's just not a good investment anymore.

Worst. Advice. Ever.

My MBA was the best investment I have ever made by a LONG shot.

[norsairius]

Hmm.... I think a post-secondary degree is definitely worth it. If you consider lifetime earnings, there's really no contest for the most part.

If anything, I'd say my degree helped me get my BMW sooner I don't mean to that in a stuck-up manner, but the work you put in for school to build that foundation of knowledge and expertise can really help put you ahead in the professional world if you apply it properly.

[DanielGonz]

Originally Posted by DUI Elite

+1

Don't make your hobby your career. Its mixing business with pleasure, and leads you down a path where you have no life outside of your work - which isn't good either if you ever plan on settling down to start a family.

The fuck?! That's the worst advice I've read in a LONG time. My hobby I did for fun... turned into a career that I'm absolutely in love with! I'm still in disbelief I just read that post... and you were serious.

Lemme guess... you have a shit job...

[DanielGonz]

Originally Posted by jafza412

DISAGREE!! Find a career doing something you love and you'll never spend a day of your life working right?

I am in management and operations consulting. I spend my days in customer environments figuring out how to streamline and improve their business. Sounds nerdy and probably boring to some, but I love it and enjoy going to work. I would encourage you to find a field you have a passion while you are still young and agile in the workforce.

Also, pursing a Master's in engineering isn't that cut and dry. As a Finance based undergrad, I am assuming you didn't have moderate levels of physics, calculus, chemistry, materials, etc., which will all be pre-requisites for the Master's level courses. And fulfilling these requirements will extend your timing.

Boom!

[calicolorado]

I have to politely disagree with the idea that a hobby shouldn't be a career. I made my hobby my career and I could not be more fulfilled and directed in life.

If you’re interested in motorsports on the R&D level, I would not recommend getting into the motorsports field without an engineering degree, preferably a masters in mechanical or aeronautical. The knowledge gained and advancement potential really is there and I've seen it first hand while working as a designer at a race car manufacturer for almost a decade. Two people I worked with left to pursue their Masters in mechanical engineering and are now at competing F1 teams. Both went to Cranfield in the UK and there are of course fantastic programs in the US. FSAE is one of the best programs in educating young engineers in a hands-on way. Money can be good but it just depends on your talent and the environment you get to perform in.

The other great thing about motorsports is that the aerospace world often folds itself in. This is wonderful because the opportunities and contacts expand exponentially and the breadth of projects one can work on is staggering. I’ve been a lead designer on two production aircraft, a concept business jet and numerous DARPA proposals. This overlap means job security, which is something I highly advise you to consider, though it should not be the primary motivating force in a career choice (IMO). Also consider multiple income streams. A salaried position is not as secure as you think and if you’re creative you can come up with many other ways to generate ideas and income (new products, writing, teaching etc).

Stay active in your field long enough and you gain enough experience and contacts to start consulting, regardless of field. That, my friend is where you make serious money. Your only limit becomes your physical ability and the number of hours in the day. It's a liberating feeling I cannot describe or recommend enough.

One interesting thing I've been hearing is that finance companies are hiring engineers! They like the training and thought process that engineers experience and develop.

You can use the skills you have, that you’ve wisely invested in and work for an established firm and learn the finance world. You’ll make, I'm sure, a decent living, and with a few years under your belt, begin to spread your wings. I’m sure you’re a bright guy and figure out how to steer your career where you want it to go. There are jobs in motorsports finance and in automotive financing, you just need to learn about them and focus on them.

Anyway, I hope that wasn’t too blowhardy. I’m in my mid-thirties and still have lots to learn too…

[erik2810]

Originally Posted by The Archer

Perhaps this article will help you a little bit...

It's quite a good read. You don't mention your age, but most of us hit the crossroads of current careers vs. new career at some point - I'm there myself.

If you're not happy in your current field, I would discourage from seeking an advanced degree, your heart won't be in it and it's a lot of work (I'm working on Masters now - though it will help me with my future endeavors). If you think you do want to pursue an advanced degree, I would urge you to hit up degreeinfo.com, a distance ed forum of which I have been part of for seven years.

Thanks for that article. I'm 24 btw.

If you're making enough money, I don't know why you would even consider becoming a weekend warrior, even as a commissioned officer. That extra 800 bucks (or however much it is, I don't remember) is not worth making the trip every month to some base/post to play 'military.' Unless, of course, you're just looking to change things up in your life, then I would understand that.

Seriously, if you're unhappy with the direction of your life and even considered joining the military, assuming you graduated with good academic standing and have a clean record, why not commission as an officer, travel the world, then have the government pay for your MBA in whatever you want?

I think you're missing the point and what I meant as "weekend warrior." I have no wishes to join the military. Money is really not an issue, as I', at the point where I'd rather be loving the thing I'm doing than making a killing at something I despise. In either case, I know the money WILL come so long as I stay ambitious with future endeavors.

Have you read 'the 4 hour work week'? If not, read it. Pm me if you're near pa. Happy to give you my perspective/give you my copy

Never read but I would love to pick it up. I'll PM you.

Don't make your hobby your career. Its mixing business with pleasure, and leads you down a path where you have no life outside of your work - which isn't good either if you ever plan on settling down to start a family.

Not only do I disagree but I think that can go both ways. If you're in a high-demand, high-stress, and high paying job that either you hate or love, it still takes you away from other things in life. But if you love it, you're at least getting fulfillment from what you do.

I have to politely disagree with the idea that a hobby shouldn't be a career. I made my hobby my career and I could not be more fulfilled and directed in life.

If you’re interested in motorsports on the R&D level, I would not recommend getting into the motorsports field without an engineering degree, preferably a masters in mechanical or aeronautical. The knowledge gained and advancement potential really is there and I've seen it first hand while working as a designer at a race car manufacturer for almost a decade. Two people I worked with left to pursue their Masters in mechanical engineering and are now at competing F1 teams. Both went to Cranfield in the UK and there are of course fantastic programs in the US. FSAE is one of the best programs in educating young engineers in a hands-on way. Money can be good but it just depends on your talent and the environment you get to perform in.

The other great thing about motorsports is that the aerospace world often folds itself in. This is wonderful because the opportunities and contacts expand exponentially and the breadth of projects one can work on is staggering. I’ve been a lead designer on two production aircraft, a concept business jet and numerous DARPA proposals. This overlap means job security, which is something I highly advise you to consider, though it should not be the primary motivating force in a career choice (IMO). Also consider multiple income streams. A salaried position is not as secure as you think and if you’re creative you can come up with many other ways to generate ideas and income (new products, writing, teaching etc).

Stay active in your field long enough and you gain enough experience and contacts to start consulting, regardless of field. That, my friend is where you make serious money. Your only limit becomes your physical ability and the number of hours in the day. It's a liberating feeling I cannot describe or recommend enough.

One interesting thing I've been hearing is that finance companies are hiring engineers! They like the training and thought process that engineers experience and develop.

You can use the skills you have, that you’ve wisely invested in and work for an established firm and learn the finance world. You’ll make, I'm sure, a decent living, and with a few years under your belt, begin to spread your wings. I’m sure you’re a bright guy and figure out how to steer your career where you want it to go. There are jobs in motorsports finance and in automotive financing, you just need to learn about them and focus on them.

Anyway, I hope that wasn’t too blowhardy. I’m in my mid-thirties and still have lots to learn too…

This. Great advice, thank you.

[ef11]

Originally Posted by JBagel

The only engineers that are approaching that kinda money out of college are ivy leaguers or possibly chemical engineers some software engineers. Certainly not aerospace.

This is not true. I graduated from Texas A&M (non Ivy League, although SEC counts for something ) with an Industrial Engineering degree and I, along with all of my friends with an IE degree, started between $65-$80 plus signing bonuses.

I would say engineers, at least in Houston/Dallas make at least $60 out of college, most making around $70-80.

[marcus321]

Originally Posted by -Wingman-

I'm a bit confused on how much you engineers are making out of school. It sounds like you guys are either financially struggling or your cost of living including leisurely activities is higher than your salary. I know engineers don't make the most out of graduating students, but at my school, 85 percent of engineering students find jobs upon graduating, and the majority of those graduates make around 70-80k per year on average for their first year of work.

I live in Raleigh-Durham area and most engineers here start around 55-65k right out of college, at least that's what I and all my friends started at in 2011. But our cost of living is really cheap. Most of us now are making 80-110k so engineer is definitely a good path considering we are only around 25-26 making almost or above 6 figures.

[FlowState]

Originally Posted by DanielGonz

The fuck?! That's the worst advice I've read in a LONG time. My hobby I did for fun... turned into a career that I'm absolutely in love with! I'm still in disbelief I just read that post... and you were serious.

Lemme guess... you have a shit job...

Lol definitely not. I'm in the medical field.

Let me guess, you have no one but yourself, or at maximum a girlfriend to care for in your life.

[srezzo]

I've spent my entire career (about 13 years) in the Auto Industry. My background is BS in Computer Engineering and MS in Electrical Engineering. There are plenty of people with Finance backgrounds doing the same kind of work as Fiance professionals in the Defense Industry. As many people have mentioned you could also get an MBA and work in Marketing, or a plethora of other areas.

SR

[drGK]

I have 30+ year old engineers and finance guys in my pre-med program all saying the same exact thing as you. Go back to school part time. See how you feel about it. Best of luck to you

[wins76]

Just to give you guys some prospective my company is offering in terms of pay (oil & gas industry in Houston):

Civil / Structure Engineer w/o P.E. & experiance $ 45,000
Mechanical Engineer or Electrical Engineer w/o P.E. & experiance $ 48,000
Chemical Engineer w/o P.E. & experiance $ 52,000
IT 46,000 with overtime
Admin 35,000
Finance 48,000
Finance with CPA 85,000
Business Development (BD) 76,000
BD with MBA 98,000


With P.E. and two to three years experiances add at least 15k to 20K to that base amount.

Now after gaining at least 6 to 10 years experiances you can promote to become Project Manager which pay about 98,000 to 105,000.

Or choose a different route and become Sr. or Manager of engineering department which pay 108000 till 125,000.

After 20 years experiances, with luck and suck ass skill, you might become Director of a division which pay current at 173,000 with quaterly stock bonus given to you on top of regular bonus.

I only have access upto Director level pay, so VP, P or CFO i cannot comment.

Now here the a good pay position with little eduction needed:

AutoCAD drafter: 20 to 23 dollars an hour with min. of 10 hours overtime each week.

Structure Designer (using AutoCAD or Pro-E) 25 to 33 dollars an hour with min. of 10 hours overtime

Tekla or 3d designer: 38 to 46 dollars an hour with overtime

Sr. designer 50+ an hour.

Piper designer: 90 an hour but it a contract position, that's means if we don't need you, you are out in a minute notice.

So if you a Structure Designer with aleast 3 years experiance which pay about 31 dollars, you are clocking about 90,000 a year not including bonus.

Now for high school drop out: the only way they can make good money on our industries to became a certified welder which pay at least $25 a hour plus dem. Or below surface (under water) welder which pay 35 an hour plus dem.

[ef11]

Originally Posted by wins76

Just to give you guys some prospective my company is offering in terms of pay (oil & gas industry in Houston):

Civil / Structure Engineer w/o P.E. & experiance $ 45,000
Mechanical Engineer or Electrical Engineer w/o P.E. & experiance $ 48,000
Chemical Engineer w/o P.E. & experiance $ 52,000
IT 46,000 with overtime
Admin 35,000
Finance 48,000
Finance with CPA 85,000
Business Development (BD) 76,000
BD with MBA 98,000


With P.E. and two to three years experiances add at least 15k to 20K to that base amount.

Now after gaining at least 6 to 10 years experiances you can promote to become Project Manager which pay about 98,000 to 105,000.

Or choose a different route and become Sr. or Manager of engineering department which pay 108000 till 125,000.

After 20 years experiances, with luck and suck ass skill, you might become Director of a division which pay current at 173,000 with quaterly stock bonus given to you on top of regular bonus.

I only have access upto Director level pay, so VP, P or CFO i cannot comment.

Now here the a good pay position with little eduction needed:

AutoCAD drafter: 20 to 23 dollars an hour with min. of 10 hours overtime each week.

Structure Designer (using AutoCAD or Pro-E) 25 to 33 dollars an hour with min. of 10 hours overtime

Tekla or 3d designer: 38 to 46 dollars an hour with overtime

Sr. designer 50+ an hour.

Piper designer: 90 an hour but it a contract position, that's means if we don't need you, you are out in a minute notice.

So if you a Structure Designer with aleast 3 years experiance which pay about 31 dollars, you are clocking about 90,000 a year not including bonus.

Now for high school drop out: the only way they can make good money on our industries to became a certified welder which pay at least $25 a hour plus dem. Or below surface (under water) welder which pay 35 an hour plus dem.

I must be missing something here. $48,000 for a Mechanical or Electrical Engineer??

Out of my university salary averages for those majors in any industry are around $68,000 first year out of school.

My roommate is a petroleum engineer in Houston and makes $98,000 his first year out of school. A friend is an industrial engineer in oil and gas and makes $75,000 her first year.

Those salaries sound low for Houston O&G

[litxus]

Originally Posted by erik2810

Mods my apologies in advance if this is in the wrong section. First a little background information...

I graduated in 2011 with a Finance degree and immediately entered into the work force off the strength of my resume (ALL aerospace/defense industry based). While I am very fortunate to have not only found job that quickly and one that pays well, I can't help but feel unhappy with where my career is headed. Once again, I am really thankful for the opportunity to work in something as big as the defense industry as it has allowed me to purchase my first home, my e90, and give financial breathing room to enjoy things outside of work. But in the end, I just can't fathom being in this same industry for 3, 5, 10, or 20+ years. I'm not miserable, I don't hate life, and I'm certainly not complaining. Just don't like where I'm heading.

I've always been interested in the automotive industry since I was young and still maintain that passion for it, in any/every capacity really. Motorsport, design, business, engineering; I love it all. However, due to a large early influence from parents (suggesting that the industry doesn't "pay the bills") and the wrong career path (should have went into engineering), I feel like I'm now stuck.

Now I know that nothing is "greener on the other side" but I can't help but feel that I should try, in some way or another. Anyone have any suggestions or maybe even the same notions?? I'm just ready for change and would love to hear from anyone out there that has either made the jump or felt tthe same.

You can try to search for automotive jobs, but I do not think finance degree will help you with that. As someone mentioned Engineering degree would fit better and be prepared to look for jobs nationwide. As for Automotive industry I would assume car makers? I've looked at similar path in the past, unfortunately I was not prepared to go anywhere and leave everything behind for a job.

Looking at these engineering salaries it makes me want to switch (in finance now) as I was engineering degree first (mechanical engineering). Anyone have any suggestions where demand / salaries would be high engineering (software / computer / mechanical)?

[litxus]

Originally Posted by ericfox11

I must be missing something here. $48,000 for a Mechanical or Electrical Engineer??

Out of my university salary averages for those majors in any industry are around $68,000 first year out of school.

My roommate is a petroleum engineer in Houston and makes $98,000 his first year out of school. A friend is an industrial engineer in oil and gas and makes $75,000 her first year.

Those salaries sound low for Houston O&G

Wonder if these salaries are only in Texas? As I would think it is probably much lower around Chicago.

[ef11]

Originally Posted by litxus

Wonder if these salaries are only in Texas? As I would think it is probably much lower around Chicago.

As Houston is the "energy capital of the world", I think you are right in assuming these salaries are only in Texas (and actually, maybe only in Houston).

I am an Industrial Engineer, and honestly I would highly, highly, highly, highly recommend the degree. Every single one of my friends and I in Industrial Engineering had a job months before we graduated, all making $65,000+ and in many DIVERSE type jobs. I think this is the biggest benefit to this degree. Many of us are in supply chain, many in consulting, many in the financial services industry. For example, I have interned for American Express and the company I work for now (rather not mention for privacy reasons) is another Fortune 50 and I work in the supply chain field.

With Mechanical/Civil/Electrical, you are more of a specialty type of engineer. I don't really know how to describe it, but I would basically say you're setting yourself up for being a "worker bee" for a while before moving up in a company. With Industrial Engineering, you're trained to optimize systems and analyze big picture type situations, which obviously puts you in the right mindset to be in management.

I'm not trying to say any engineering is better than another...I think everyone that has "engineer" at the end of their degree is a badass and made a great decision. I would highly recommend anyone that is IN college and debating, go with engineering. I promise it is worth the extra work, if you have a math/science type of mind.

[Thedouceman]

I graduated last year with a degree in Marine Engineering and have a engineering license from the USCG (Coast Guard). I now work on oil rigs in the Gulf of Mexico, working 3 weeks at sea and 3 weeks at home. Although 3 weeks away from your friends and family, 3 weeks home gives you plenty of time to spend with family but also gives you a lot of time to spend on hobbies and figuring out what you want to do in the future.

Most engineering degrees are going to do best for you. I'd keep it up man, you'll figure it out, PM if you're interested in the oil field. There's plenty of positions that don't require special licensure.

[erik2810]

Originally Posted by litxus

You can try to search for automotive jobs, but I do not think finance degree will help you with that. As someone mentioned Engineering degree would fit better and be prepared to look for jobs nationwide. As for Automotive industry I would assume car makers? I've looked at similar path in the past, unfortunately I was not prepared to go anywhere and leave everything behind for a job.

Looking at these engineering salaries it makes me want to switch (in finance now) as I was engineering degree first (mechanical engineering). Anyone have any suggestions where demand / salaries would be high engineering (software / computer / mechanical)?

Car makers would be ideal, but even racing firms would be great. Question: anyone ever obtain an MBA in an engineering degree without any hard experience with it in undergrad? I'm interested to hear how difficult a transition would be, from a scale of possible to hardly possible.

[ejheverest]

Originally Posted by JBagel

The only engineers that are approaching that kinda money out of college are ivy leaguers or possibly chemical engineers some software engineers. Certainly not aerospace.

Disagree,

The average marine engineer who graduated in 2012 are pulling in at least 80k/yr, right out of college. Job placement is close to 100% and no ivy league school loans to pay back.
Of course if your wanting the typical 9-5 job schedule, weekends off then marine engineering might not be the best field.

Mechanical, Petroleum, Chemical, Marine all can make 75-100k out of a 4 yr school, it all depends on what industry they want to work in.

Money WILL NOT buy happiness though, do what you like over a higher salary if you can still enjoy life and not live paycheck to paycheck.

Most of the supervisors on here do not have any education beyond high school and they pull in 200-250k/yr without well bonuses.
(EE Supervisors, Mech. Superivisor, Subsea Sups, Cheif Engineer/Maint. Sup, Captain, OIM, Toolpushers.)

[FlowState]

Originally Posted by erik2810

Car makers would be ideal, but even racing firms would be great. Question: anyone ever obtain an MBA in an engineering degree without any hard experience with it in undergrad? I'm interested to hear how difficult a transition would be, from a scale of possible to hardly possible.

Curious about this too. I would imagine very difficult, as most programs are very competitive in the sense if you don't have a strong academic base, they expect a lot of field experience.

Without either, my guess is very near not possible but maybe I'm being pessimistic lol.

[litxus]

Originally Posted by DUI Elite

Curious about this too. I would imagine very difficult, as most programs are very competitive in the sense if you don't have a strong academic base, they expect a lot of field experience.

Without either, my guess is very near not possible but maybe I'm being pessimistic lol.

Yes, would be interesting to know if anyone did something like finance for Bachelor and Engineering for Master Degree?

[MiddleAgedAl]

People who say to do what you love (and claim to enjoy wealth and success due to that) dont seem to realize that they are in that spot because they have the good fortune to have a passion for something that pays well.

A friend has an undergrad degree in archaeology, but had no interest in teaching. Needless to say, without following the teaching path (which needs post-grad credentials), the jobs were non-existent.

Now he makes a surprisingly good living selling industrial HVAC stuff. Takes the money, and goes on trips to Egypt & South America to visit these sites and indulge his passion, as a hobby. Now, instead of wasting those 4 years, he wishes he'd started his "real job" sooner, and just taken some classes after hours for his own personal interest, to get more out of his trips abroad. When he thinks about what he makes, and realizes the true opportunity cost of those 4 years of fulltime schooling, he craps his pants.

If your passion happens to be electrical engineering or something, then yes, more education is good for YOU, but it's a fallacy to then assume that more costly education will always pay for itself, regardless of the field.

My advice: get more insight into the field via volunteering or something before considering pulling the plug on your current job, especially in this economy.