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Old 11-04-2012, 10:55 AM
 
Location: NY
778 posts, read 937,610 times
Reputation: 421

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I plan to move/settle/get my Masters in the fine city of Chicago. 27 year old male hailing from the Syracuse, NY area. I have a question however about finances. Given Chicago's low COL (yeah, to me it is), which is basically the same as here, should I transfer out my low-paying retail job in a few months with about 2-3k in savings, or should I teach English in Korea for a year, bank as much money as I can (10-13k is reasonable), and just move then?

Basically, move with little savings and a job, sooner, or move with plenty of savings but no job, later?

How is the job market for retail, restaurants, customer service type stuff?

Chicago is the end result, just having trouble deciding which way to jumpstart it.

The low-paying job is something I plan to use to hold me off until I get something better.

My only expenses would be rent, food, a small phone bill, CTA pass and occasional bar outing on weekends, for the time being until I find a MUCH better job. I have done it before in NJ so I know what its like but Jersey aint Chicago. My lifestyle sacrifices a lot to get started, no issue there (roommates, limited outings, etc.)

Last edited by Heyooooo; 11-04-2012 at 11:04 AM..
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Old 11-04-2012, 11:04 AM
 
Location: Where the heart is...
4,927 posts, read 4,837,566 times
Reputation: 10653
Quote:
Originally Posted by Heyooooo View Post
I plan to move/settle/get my Masters in the fine city of Chicago. 27 year old male hailing from the Syracuse, NY area. I have a question however about finances. Given Chicago's low COL (yeah, to me it is), which is basically the same as here, should I transfer out my low-paying job in a few months with about 2-3k in savings, or should I teach English in Korea for a year, bank as much money as I can (10-13k is reasonable), and just move then?

Basically, move with little savings and a job, sooner, or move with plenty of savings but no job?

How is the job market for retail, restaurants, customer service type stuff?

Chicago is the end result, just having trouble decided which way to go.

The low-paying job is something I plan to use to hold me off until I get something better.
I realize your question is really of a financial nature, however, I would seriously consider teaching English in Korea AND bank your money as well. Point being, teaching in Korea lends so much credibility to the fact that you have become a global citizen and culturized outside your safe zone.

Never underestimate the education one receives while living and working abroad. Best wishes in finishing your education and making your move to Chicago in one fell swoop.

Living in Chicago...EXCELLENT IDEA!

Teaching English in Korea (or anywhere in the world for that matter)...PRICELESS!

Best regards, sincerely

HomeIsWhere...
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Old 11-04-2012, 11:13 AM
 
Location: NY
778 posts, read 937,610 times
Reputation: 421
Quote:
Originally Posted by HomeIsWhere... View Post
I realize your question is really of a financial nature, however, I would seriously consider teaching English in Korea AND bank your money as well. Point being, teaching in Korea lends so much credibility to the fact that you have become a global citizen and culturized outside your safe zone.

Never underestimate the education one receives while living and working abroad. Best wishes in finishing your education and making your move to Chicago in one fell swoop.

Living in Chicago...EXCELLENT IDEA!

Teaching English in Korea (or anywhere in the world for that matter)...PRICELESS!

Best regards, sincerely

HomeIsWhere...

Haha, yes! I have my BA in History, but will be going soon for my Masters, and well, Chicago is where I wanna be. Like I said, could use some outside opinion on which to do. The only enticing thing about Korea to me is the money aspect. My brother is there on his second stint and he loves it. Id prefer someplace like the Czech Republic, but you wont make nearly as much.

I digress. I want to move to Chicago ASAP, but ASAP means less money and a low-paying job, whereas if I wait a year (), ill be more financially sound to do so courtesy of Korea. And a year older.

Choices, choices..

Chicagoans, what say you?
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Old 11-04-2012, 01:12 PM
 
28,460 posts, read 80,795,325 times
Reputation: 18656
I don't think it is really possible to address only the immediate "money in the bank" or "work a menial job" type question -- pretty doubtful that any position that you'd be qualified for with a BA in History and a Masters in the same or similar academic discipline would likely not be the sort of thing that "also worked at Dennys" would be a resume enhancer. Arguably experience working and living overseas would be seen as plus for several of the traditional career fields that holders of Masters in History might consider...

"Students who seek a master’s degree (MA) are typically looking to gain a more specialized knowledge of an historical field that will serve them in a separate career, such as teaching, journalism, or in a museum curatorship." Career
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Old 11-04-2012, 02:41 PM
 
Location: DC Suburbs
93 posts, read 252,319 times
Reputation: 144
Based on finances alone, in your position, I would work for a year abroad and save money first.

When I left Chicago a little under a year ago, the metro area's unemployment was around 9.2 percent (I believe). I had been job searching for several months and didn't end up finding anything there in my field, and the response rate wasn't much better for food/retail jobs (and I had over 6 years of experience as a food service supervisor/manager to fall back on).

Now, according to the Bureau of Labor site, the Chicago area's unemployment rate has been falling steadily and is down to 8.0 percent. If the trend continues, things should be even better another year from now, and you would have more savings to fall back on if things don't go perfectly off the bat.
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Old 11-04-2012, 02:56 PM
 
Location: NY
778 posts, read 937,610 times
Reputation: 421
Quote:
Originally Posted by chet everett View Post
I don't think it is really possible to address only the immediate "money in the bank" or "work a menial job" type question -- pretty doubtful that any position that you'd be qualified for with a BA in History and a Masters in the same or similar academic discipline would likely not be the sort of thing that "also worked at Dennys" would be a resume enhancer. Arguably experience working and living overseas would be seen as plus for several of the traditional career fields that holders of Masters in History might consider...

"Students who seek a master’s degree (MA) are typically looking to gain a more specialized knowledge of an historical field that will serve them in a separate career, such as teaching, journalism, or in a museum curatorship." Career
Ah, shouldve clarified. Going for SpEd, nowhere near History. Its a dime a dozen degree.
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Old 11-04-2012, 03:02 PM
 
28,460 posts, read 80,795,325 times
Reputation: 18656
Contrary to general assumptions a degree in special education is no guarantee to employment either...

I would still recommend earning as much as can before moving here or frankly anywhere. Living with mom & dad is mostly free. Living on your own is not...
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Old 11-04-2012, 03:27 PM
 
Location: NY
778 posts, read 937,610 times
Reputation: 421
Quote:
Originally Posted by chet everett View Post
Contrary to general assumptions a degree in special education is no guarantee to employment either...

I would still recommend earning as much as can before moving here or frankly anywhere. Living with mom & dad is mostly free. Living on your own is not...

I disagree there. The baby boomers were delayed via '08 but they will be retiring in droves over the next 10 years and there will be shortages across the country. Pretty much everyone I know with a career in SpEd has a job, and cities are always in need. I wouldnt be out til 2015 at the earliest anyway, which is 3 years from now. Thats enough time to let the market improve. It will get better over time, as will population increase and increase in the number of kids with disabilities. Improvements in recent years allowed diagnosing kids with disabilities at earlier ages.

There arent nearly as many unemployed SpEd teachers as there are regular ed right now. It is also dependent on your area (ESL, math, science, etc.)

See, im willing to work inner city.

I do agree however, at the same time, saving more money while getting an international teaching experience on my resume is attractive.

Last edited by Heyooooo; 11-04-2012 at 03:47 PM..
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Old 11-04-2012, 03:41 PM
 
Location: Where the heart is...
4,927 posts, read 4,837,566 times
Reputation: 10653
Quote:
Originally Posted by Heyooooo View Post
Haha, yes! I have my BA in History, but will be going soon for my Masters, and well, Chicago is where I wanna be. Like I said, could use some outside opinion on which to do. The only enticing thing about Korea to me is the money aspect. My brother is there on his second stint and he loves it. Id prefer someplace like the Czech Republic, but you wont make nearly as much.

I digress. I want to move to Chicago ASAP, but ASAP means less money and a low-paying job, whereas if I wait a year (), ill be more financially sound to do so courtesy of Korea. And a year older.

Choices, choices..

Chicagoans, what say you?
I have to wonder if you are only in favor of an opinion if one tells you to take the fast and easy route...hmmm? A year older is a year older that you are going to be regardless of which decision you choose so why not make it worth how fast it's going to go by anyway and have some cash in your pockets on top of it?

My original opinion stands!
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Old 11-04-2012, 03:45 PM
 
Location: NY
778 posts, read 937,610 times
Reputation: 421
Quote:
Originally Posted by HomeIsWhere... View Post
I have to wonder if you are only in favor of an opinion if one tells you to take the fast and easy route...hmmm? A year older is a year older that you are going to be regardless of which decision you choose so why not make it worth how fast it's going to go by anyway and have some cash in your pockets on top of it?

My original opinion stands!

Thats obvious. Am I supposed to hide that? Its a critical part to this.

Im leaning a certain way, but I would like some input from people there too on the finance part.

Moving anywhere without much money isnt the best idea, but ive done it before. Im not exactly new to it, I would just see if its feasible living in Chicago on a low-paying job while looking for work.
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