I Just Graduated. Should I Go for My Dream Job or Continue Studying?

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“Hi Celes, I’ve enjoyed reading PE since my undergraduate days and your tips on becoming a dean’s lister helped me get on that elusive list for 2 consecutive years! Many thanks :)

Now that I have graduated, I have two options: 

1. My dream job which I’ve always wanted since university: great earning potential that comes with passing exams and great working environment. Got a job offer but it came only half a year after graduation due to the high barriers to entry.
2. To embark on a PhD program. It was actually a back-up plan of sorts, since I couldn’t nail my dream job for half a year. I’ve actually done preparation for it (e.g. doing GMAT and requesting for recommendation letters). My family and I like the prospect of doing a PhD, but job security may be an issue after PhD since research is a very competitive arena.

Every day, I’m stuck in the conundrum of these two options, thinking about which path to follow and it is mentally draining. I have read your article: How To Make Life’s Hardest Decisions: 3 Decision Making Methods.

But, how do I choose between two options where the risks and rewards seem to be really similar? Or would you recommend that I take option #1 and use option #2 as a backup? Any advice will be appreciated. Thanks in advance. :)” — Mo

Dear Mo, congratulations on getting onto the Dean’s List!! Kudos to you for taking the lead in your studies and excelling in them. :D

It’s awesome that you have read my decision making article because it contains my three best methods for breaking out of any conundrum.

In your case, method #2 “Ideal Vision” seems the most appropriate. When you are trapped in a situation with clear-cut options but you are unclear of the path to take, gain clarity by (a) first identifying where you want to be X (say five) years from now, then (b) identifying the path which will bring you there. This path may be Path A, Path B, a combination of Path A and B, or something new altogether.

My Pick: Option #1, to Work

Personally, I recommend that you go with option #1: go for your dream job right away.

I was once in a similar scenario, contemplating between (a) staying on in school for an additional year for an honors degree and (b) graduating right after my bachelor’s degree to work. At that time I was in my second year of university and had already secured my job offer with P&G after my internship with them.

While I could have studied for my honors and still join the company after graduation, I opted to graduate right after my bachelor’s degree and start work.

Why?

Why? Because personal growth is a big thing for me. I experienced — first hand during my internship — how I could grow by leaps and bounds by being on the job. As a reference, I learned more in two months of my internship with the company than I did in two years of my university degree. I was pushed in more intense, stress-inducing situations in those two months than I did in two decades of my life. And I mean it in a good way, because stress is a sign that we are not able to handle something (yet) it’s a stimulus to growth.

It was painfully obvious to me at that time how I would be “wasting” time by continuing an extra year of study over work. This was why I chose to work right away, even though I could have studied for my honors and then join my ex-company after graduation.

In my case, it also happened that having an honors degree literally had no impact to my path. Apparently, that’s the case for most private-sector career paths: While some may get a higher starting pay with an honors degree (not for my ex-company though; there was no difference in pay between honors and bachelor’s degree holders), this is a short-term difference. What you gain in a few months or a year on the job will quickly supersede whatever edge you may have had with an honors at first.

Here I’m assuming that you will be working in a high-performance job that will maximize your growth vs. a job where you idle your time away (you mentioned it’s your dream job, so I’m sure it comes with great prospects and growth-opportunities). If it’s the latter — a low-to-no-responsibility job — furthering your studies will obviously be a better choice since you would be experiencing minimal growth in such a job. It’s precisely because both of your current options are great that you’re having such a dilemma right now.

Not to worry though, as every dilemma can be worked through. :)

Four Questions To Consider

Here are some questions to consider:

1. Will your job still be around after your PhD? Is the company willing to leave a position open for you at the time of your PhD graduation?
2. What is your personal life vision five years from now (in reference to my question in the opening)? Which path is more aligned to that vision: studying PhD, going for your dream job, or something else altogether?
3. Are there significant differences in which a PhD will bring to your career path? Sure, there will probably be differences or benefits which a PhD would bring (otherwise why would people study for?!), but are these differences significant? More importantly, do these differences matter to you? 
4. Beyond Q3: does a PhD offer significant benefits over the work experience you can potentially gain in the same time working (in your dream job)? If yes, then PhD will be the better choice; if not, then your dream job will be the better pick.

Re: Q1, from my experience in the professional world, most companies do not pre-commit to job placements with candidates beyond one year (unless (a) you such have a distinctive profile and experience that they absolutely need you, (b) you are in an industry which has a definite need for new recruits every year like accountancy, or (c) you are in a scholarship bond with the company which isn’t the case here). This is especially so in today’s market, where many companies are undergoing restructuring and resizing.

Even if the companies do promise a vacancy, things can always change. Some companies undergo headcount freezes or downsizing in the blink of an eye once management issues a decision. I know someone who was offered his dream role before graduating but his placement got retracted later on due to market changes, leaving him jobless and seeking a job in the months after his graduation.

On Q3, if the differences don’t matter to you, then there’s really little point in considering them. And whether these differences matter to you will be a function of what your personal life vision is (re: Q2).

For example, having an honors vs. a bachelor’s degree has its differences for sure. There’s a slight level of prestige and distinction an honors-degree holder have over a bachelor’s-degree-only holder. Some companies give a slightly higher pay for honors graduates vs. non-honors graduates. And having an honors is important in the public sector in Singapore.

However, none of these were relevant for me. Or rather, the differences that mattered at that point would be irrelevant three, five, or ten years from then. I didn’t care about the distinction an honors-degree holder would have because I was going to gain much more from working in a growth-intensive job. The pay advantage for having an honors degree didn’t apply to the company I was joining, much less a few years later when I would have a few years of solid, relevant work experience. I was never planning to work in the public sector, so it didn’t matter to me the importance of honors in this sector.

This was what I thought then: If I really want to further my studies next time or if having an honors proves to be important, I can always return to studying after a few years of work. School will always be there for me. This job may not be. And given the great learning and strong edge I can get from being on the job, I don’t want to spend more time studying. It’s time to graduate and create my path outside of school.

It Boils Down To You and Your Vision

At the end of the day, the decision is up to you, and I’m just here to offer my perspective. What is your personal vision for yourself? (As I mentioned in Q2.) Which is the path that works best in achieving the vision? Think over it, pick the option, then don’t look back after that.

Even if you are not 100% clear of your personal vision (most aren’t even so at the age of 30, 40, or even 50, so there’s little reason to expect yourself to be 100% clear at your age), a broad-based idea would work too.

For example, I didn’t know with precision that I wanted to be a coach, trainer, or even blogger when I was 21 (at the point of graduation). However, I knew that (a) I am passionate about growth and I want to harness my maximum growth potential, and (b) I want to create the most impact with my life. based on theses broad directions, I realized that proceeding to work immediately in my then-dream-job was the key. I would then quit once I felt that I had learned enough to pursue my path. The rest was history.

While what you’re facing may seem that this is a huge decision at this point (and it is, no doubt), but you will look back ten years later and realize that this is merely one of the many mini-thought moments in your life which got you thinking about what you truly want in life and how to best get there. At the end of the day, how you soar and excel in life isn’t going to weigh independently on just one decision you make. It’s really a result of your attitude towards life, your work ethic, and the little decisions you make every day, along the way.

Good luck Mo, and keep us posted on the path you pick in the end. :D Many hugs to you. *hugs*

Here are some related pieces:

1. How To Know What You Want To Do In Life
2. How To Discover Your Ideal Career: Your Message and Your Medium
3. Can Everyone Be Successful in Starting Their Business?