Pros:
* Increased Job Opportunities: This is the most compelling reason. If all the desired positions within your organization require a degree, obtaining one significantly improves your chances of transferring.
* Higher Earning Potential: A degree often translates to higher earning potential, even within the same organization.
* Personal Fulfillment: Pursuing a degree can be personally rewarding, enhancing your knowledge and skills.
* Improved Skillset: A degree provides a structured learning experience, potentially developing skills relevant to your desired department.
* Career Advancement: A degree can open doors to future promotions and leadership roles.
Cons:
* Time Commitment: Returning to school requires a significant time commitment, which might impact your current work-life balance.
* Financial Cost: Tuition, fees, and books can be expensive. Consider the cost versus the potential salary increase.
* Opportunity Cost: The time spent studying could be used for other activities, such as pursuing hobbies or spending time with family.
* Age and Competition: While age is not a barrier, the job market is competitive. You'll be competing with younger graduates.
* Potential for No Guarantee: Even with a degree, there's no guarantee of a transfer. The organization might still have other criteria.
Before making a decision:
1. Research Degree Requirements: Identify the specific degree(s) required for the positions you're interested in.
2. Assess Your Financial Situation: Can you afford tuition, fees, and living expenses while studying? Explore financial aid options (loans, scholarships).
3. Evaluate Time Commitment: Determine if you can realistically balance work, studies, and personal life. Consider part-time or online options.
4. Talk to Your Employer: Inquire about tuition reimbursement programs or other support they might offer. Discuss your career goals with your supervisor and explore internal training options as an alternative.
5. Network: Talk to people currently in the department you want to transfer to. Understand the actual skill sets and experience needed for success. A degree might not be the only, or even the most important, factor.
6. Consider Alternatives: Explore other ways to gain the necessary skills, such as certifications, online courses, or workshops. These can be less time-consuming and expensive.
In conclusion:
At 55, the decision to return to school is a significant one. Carefully weigh the pros and cons, considering your financial resources, time constraints, and career goals. Don't forget to explore alternatives and speak to your employer and people in your target department before committing to the considerable investment of time and money. If the potential rewards outweigh the costs and challenges, then it might be a worthwhile endeavor.