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Old 03-23-2019, 10:39 AM
 
117 posts, read 39,011 times
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**Please no virtue-signalling, sarcasm, or finger-pointing**

Can you help me make a wise career decision based on the following factors? Which pathway would make more sense, financially?

37 year old. Been substitute teaching for past 3 years. Prior to substitute teaching I was a buyer for about 4 years making about $50,000 a year. I have an MBA and about $100,000 in student loan debt. I am looking for advice between two options.

High school teacher. $28/hour to start (based on days worked over a school year). $37/hour career midpoint. Late career hourly rate is also $37/hr.
Pros: pension, summers off, teacher student loan forgiveness after 10 years on an income-based repayment plan, then loans are forgiven. Cons include low pay. I might need to get a master's in education at some point if I want to increase salary.

Information security analyst. I would have to get certs and start from the ground up in a lower-level IT position; certs are fairly cheap though. $28 to start. $49/hr mid-career. $60/hr late-career rate. Pros: higher pay. Cons: on an income-based repayment plan loans would not be forgiven until 20 years have passed (if I do not have student loans paid off earlier). Possible age discrimination.
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Old 03-23-2019, 11:35 AM
 
Location: In a vehicle.
5,020 posts, read 3,209,323 times
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Just curious as to why you don't go back to the buyer position?

Next, I'd go with ISA for the money, the teaching part may be great, but I'm sure you have had a lot of dealing with students you'd have preferred to never have seen.

I know there's some people who just adore teaching, doesn't sound like you're REALLY enjoying it if you're looking elsewhere.
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Old 03-23-2019, 11:45 AM
 
10,058 posts, read 4,651,831 times
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He is focused on the wrong things on the ISA job? Seems like he sees that salary and thinks that is something he can reach easily

By the time he gets the certs, he is in his 40s, add a few years to get experience and he is in his 50s. By that time he is mid-career with a younger boss. Is he going to stick it out another 20 years to his 70s to hit late-career?

He could always get a job and pay off the loans and not wait decades for someone to forgive it

Not saying people don't change careers mid life, but he isn't changing a career, he wants to start one? And he isn't even sure of which one
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Old 03-23-2019, 12:07 PM
 
117 posts, read 39,011 times
Reputation: 55
Quote:
Originally Posted by Disgustedman View Post
Just curious as to why you don't go back to the buyer position?

Next, I'd go with ISA for the money, the teaching part may be great, but I'm sure you have had a lot of dealing with students you'd have preferred to never have seen.

I know there's some people who just adore teaching, doesn't sound like you're REALLY enjoying it if you're looking elsewhere.
I thought about going back for a buyer position. It wasn't bad. When I break down the hourly rate it is about what I could make teaching. I actually do like to teach. One big perk is having summers off, although it is a trade-off because the salary is quite low.
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Old 03-23-2019, 12:10 PM
 
117 posts, read 39,011 times
Reputation: 55
Quote:
Originally Posted by MLSFan View Post
He is focused on the wrong things on the ISA job? Seems like he sees that salary and thinks that is something he can reach easily

By the time he gets the certs, he is in his 40s, add a few years to get experience and he is in his 50s. By that time he is mid-career with a younger boss. Is he going to stick it out another 20 years to his 70s to hit late-career?

He could always get a job and pay off the loans and not wait decades for someone to forgive it

Not saying people don't change careers mid life, but he isn't changing a career, he wants to start one? And he isn't even sure of which one
Good point about the salary being difficult to reach. It seems like ISA's are really in demand though and if I start of the bottom floor I would start at what I would make as a semi-experienced buyer. I am not sure if the extra money from corporate route makes up for the perk of loan forgiveness after 10 years (if I am going to teach). Another thing I am wondering about is, when I am 60 and still working, would I want to be in an ISA and only have 3 weeks off? As a teacher I can see myself working 5-10 years longer (maybe until 70) and it would not be so bad because I would only have to work 185 days a year.
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Old 03-23-2019, 12:19 PM
 
10,058 posts, read 4,651,831 times
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Isa is in demand, so are teachers... But the demand is different

Find the job the the problems you are willing to work with. Who cares if you make twice if you end up leaving the job a year later with nothing to show for it because you hated the job

Do you know what an Isa or teacher do first hand? Why not be a corporate trainer if you want to combine teaching and buyer skills?
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Old 03-23-2019, 12:23 PM
 
117 posts, read 39,011 times
Reputation: 55
Quote:
Originally Posted by MLSFan View Post
Isa is in demand, so are teachers... But the demand is different

Find the job the the problems you are willing to work with. Who cares if you make twice if you end up leaving the job a year later with nothing to show for it because you hated the job

Do you know what an Isa or teacher do first hand?
I have not shadowed an ISA. I have watched those "day in the life" videos on YouTube though, and read about the position on the BLS website. I have substitute taught for a while so I know what teachers do. Corporate trainers make what teachers make but do not have pensions or summers off.
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Old 03-23-2019, 01:53 PM
 
117 posts, read 39,011 times
Reputation: 55
I am leaning towards trying to find another buyer role than then trying to pivot to IT. Too bad buyer roles don't pay much otherwise I would be happy in such a capacity.
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Old 03-23-2019, 02:04 PM
 
2,139 posts, read 527,667 times
Reputation: 3741
I'm surprised you could get hired into a full-time teaching position without appropriate certs. Do you already have those?

ALSO - check to see if there is a mandatory retirement age for teachers. Time is not on your side, as you are already 37. I assume from the tenor of your post you do not have significant savings or investments.

If I were in your shoes, I suspect I'd try to get hired into the teaching position, and after passing probation (how long?), I would do everything possible to move into an administration position that pays more than classroom-based teachers. Given that you have an MBA, you should have a shot.
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Old 03-23-2019, 02:09 PM
 
2,139 posts, read 527,667 times
Reputation: 3741
Quote:
Originally Posted by Justsomeone9 View Post
I am leaning towards trying to find another buyer role than then trying to pivot to IT. Too bad buyer roles don't pay much otherwise I would be happy in such a capacity.
You sure about that? My friend's daughter is a buyer for Chanel and is very highly compensated.
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