Confused about whether it is worth pursuing a masters or not?

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*Thedreaming*
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Hi

I want to pursue a masters either in oil and gas management or Political economics

Still not too sure what i want to do career wise, but having a masters shouldn't hurt surely

some people have advised me not to peruse a masters and go straight into wait, but i do no think ill acquire a job right away. Also if i begin work now i know i will never return to education. Also i know its pretty rare for an employer to pay for you to do a post grad degree

Also i didn't go to prestigious uni so that might help matters?

HELP!
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Elivercury
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Have you seen the oil price?

Unless you expect it to double in the next year, I wouldn't put my money on "oil and gas management". Incidentally, not to be offensive, but the title sounds like total nonsense anyway.

A masters won't hurt, but it also won't help unless you've any idea what you want to do. I suggest considering it seriously before getting into further debt.
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*Thedreaming*
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(Original post by Elivercury)
Have you seen the oil price?

Unless you expect it to double in the next year, I wouldn't put my money on "oil and gas management". Incidentally, not to be offensive, but the title sounds like total nonsense anyway.

A masters won't hurt, but it also won't help unless you've any idea what you want to do. I suggest considering it seriously before getting into further debt.
Oil prices will eventually go up and it would be a good entry to oil rich countries. But i know in 30 years or so Oil will be on its way out soo....
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*Thedreaming*
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I reallly don't want to do a Masters in Econ, undergrad was hard enough!
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Elivercury
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(Original post by *Thedreaming*)
Oil prices will eventually go up and it would be a good entry to oil rich countries. But i know in 30 years or so Oil will be on its way out soo....
I work in oil and gas. People are being made redundant left right and centre and the word from above is that we shouldn't expect a recovery until 2020-2025ish.

Seriously, do not put all your eggs in the oil and gas basket.

EDIT: Incidentally, I've just jumped before I was pushed and am now studying to be a teacher.
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hezzlington
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(Original post by Elivercury)
I work in oil and gas. People are being made redundant left right and centre and the word from above is that we shouldn't expect a recovery until 2020-2025ish.

Seriously, do not put all your eggs in the oil and gas basket.

EDIT: Incidentally, I've just jumped before I was pushed and am now studying to be a teacher.
I was looking to get into oil/gas with a Geophysics degree, but going in a different direction now as I don't think it is for me. I'm also thinking of studying an Engineering masters.

What did you do in oil/gas?
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*Thedreaming*
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(Original post by Elivercury)
I work in oil and gas. People are being made redundant left right and centre and the word from above is that we shouldn't expect a recovery until 2020-2025ish.

Seriously, do not put all your eggs in the oil and gas basket.

EDIT: Incidentally, I've just jumped before I was pushed and am now studying to be a teacher.
Thank you for the insight. Will definitely be crossing it off the list then.
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Elivercury
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(Original post by hezzlington)
I was looking to get into oil/gas with a Geophysics degree, but going in a different direction now as I don't think it is for me. I'm also thinking of studying an Engineering masters.

What did you do in oil/gas?
I know nothing about Geophysics, I was a Chemical Engineer.

If you would be working in exploration then actually you might be fine. Exploration tends to do best when production is doing badly, in preparation for it doing well again.

Most geophysicists work in exploration as I understand it so you might be fine.

But the OP was talking from a management role and given the huge numbers being laid of I wouldn't suggest it is likely to be a seriously option for them in the near future.

When oil is running high, it's a great market to get into however, so I would try to keep a foot in the door if possible.
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Elivercury
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(Original post by *Thedreaming*)
Thank you for the insight. Will definitely be crossing it off the list then.
Welcome. I wouldn't rule it out forever, but it's not a strong option for the near future. If there is a more generalised path that'll keep your foot in the door, I'd recommend that. Best of luck.
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threeportdrift
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(Original post by *Thedreaming*)
Still not too sure what i want to do career wise, but having a masters shouldn't hurt surely
It could hurt a lot!

First of all there is the cost/debt - you won't get the funding mechanism you got for undergrad (assuming a UK degree), you'll have to fund it yourself and the loan payback options are tougher.

Second you may be no closer, in a year, to deciding what career to take up, but you'll have a bigger debt.

Third, you may not look any more appealing to employers, without the full package of soft skill, common sense, experience and academic ability.

Fourth, a Masters does not necessarily make up for an undergrad at a lower rated university, if you don't have the rest of the skills package.


Look for a job. It is far more common to take a higher degree mid career, and it is going to get even more common, because of career structures (much more mobile) and funding structures (you are going to have to pay for it yourself, or get employer investment)
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hezzlington
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(Original post by threeportdrift)
It could hurt a lot!

First of all there is the cost/debt - you won't get the funding mechanism you got for undergrad (assuming a UK degree), you'll have to fund it yourself and the loan payback options are tougher.

Second you may be no closer, in a year, to deciding what career to take up, but you'll have a bigger debt.

Third, you may not look any more appealing to employers, without the full package of soft skill, common sense, experience and academic ability.

Fourth, a Masters does not necessarily make up for an undergrad at a lower rated university, if you don't have the rest of the skills package.


Look for a job. It is far more common to take a higher degree mid career, and it is going to get even more common, because of career structures (much more mobile) and funding structures (you are going to have to pay for it yourself, or get employer investment)
Fair points.

However, there is new funding by SLC for 2016 onward for post grad degrees, so it is the same funding mechanism to an extent. (I believe it is the same interest rate as the undergrad loan you take out)
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Oilfreak1
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(Original post by Elivercury)
I know nothing about Geophysics, I was a Chemical Engineer.

If you would be working in exploration then actually you might be fine. Exploration tends to do best when production is doing badly, in preparation for it doing well again.

Most geophysicists work in exploration as I understand it so you might be fine.

But the OP was talking from a management role and given the huge numbers being laid of I wouldn't suggest it is likely to be a seriously option for them in the near future.

When oil is running high, it's a great market to get into however, so I would try to keep a foot in the door if possible.
Sorry for hijacking, but i'm a petroleum engineering grad - going into a masters in Metals and Energy Finance (like you I jumped the sinking ship and terminated my MEng in PetE a few months before graduation).

Just wondering if taking roles in say metals finance post masters will keep me relevant enough to get back into oil when prices bounce back?
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Elivercury
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(Original post by Oilfreak1)
Sorry for hijacking, but i'm a petroleum engineering grad - going into a masters in Metals and Energy Finance (like you I jumped the sinking ship and terminated my MEng in PetE a few months before graduation).

Just wondering if taking roles in say metals finance post masters will keep me relevant enough to get back into oil when prices bounce back?
Honestly, I've no idea. A big factor will really be how strongly it comes back as if they're desperate for bodies due to a huge resurgence things will be easy. If it comes back slowly and you're against people with 10+ years experience then you're stuffed either way.

I'd suggest that if you have it at the back of your mind and are trying to keep yourself relevant you'll probably succeed.
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*Thedreaming*
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(Original post by threeportdrift)
It could hurt a lot!

First of all there is the cost/debt - you won't get the funding mechanism you got for undergrad (assuming a UK degree), you'll have to fund it yourself and the loan payback options are tougher.

Second you may be no closer, in a year, to deciding what career to take up, but you'll have a bigger debt.

Third, you may not look any more appealing to employers, without the full package of soft skill, common sense, experience and academic ability.

Fourth, a Masters does not necessarily make up for an undergrad at a lower rated university, if you don't have the rest of the skills package.


Look for a job. It is far more common to take a higher degree mid career, and it is going to get even more common, because of career structures (much more mobile) and funding structures (you are going to have to pay for it yourself, or get employer investment)

Loans are now available from this year, and i was planning to save to do one anyway. I had a view of doing it 2 years from now, rather than sooner.

I'l apply for graduate jobs in the mean time, but haven't had much luck with internships etc. If i don't get one by the summer of 2017, ill just start a masters.
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