I'm thinking about doing a masters. I can't afford a masters. Damn.

RandomTom

RandomTom

RandomTom

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I, like a trillion other people will be entering my third year come September; providing all goes well, and I'm interesting in furthering my education/knowledge in a masters programme the year after. Still, just in the thought stages though so just wanting some food for thought.

My main problem would be the financial side. Out of the places I've looked at doing a Masters (Sheff, Leeds, Notts, Warwick, Aston, Holloway) for a business/management/consultancy course - they're all quite rightly expensive. :eek:

To those who have, or to those who are planning it - how did you fund it? And how did you live; on designated post-grad grounds or rent somewhere?

Just wondering too if any people with masters degrees could add comment to the thread too - worthwhile? was it an aid or a hindrance to your future? any who did their UG at a less established institute find it hard?
 
Always worth asking the school if they have any grant schemes for promising students etc.

My MSc was fully funded as a scholarship at Manchester due to my grades as an undergrad.

This was fees only though, no living costs, in that respect I was lucky to be able to shack up with relatives for the year. If you are unable to do this, then I would suggest perhaps taking a year out, earning enough to live on and then doing it.

This route also has the advantage of adding force to the fact you dont want to do the Masters purely as you dont want to stop being a student, they want a different mindset to that for a Postgraduate student.

[EDIT] With re: to the degree itself, I did a taught MSc in CS at Manchester. This means the first 6 months were spent doing taught modules (typically 8 hour days actually at the uni plus whatever else was required outside) and the last 6 months was spent doing a minor project, with a thesis at the end and mini Viva session.

Personally I learnt a lot, and it gave me a chance to prove to myself that my abilities as an undergrad hadn't purely been down to the fact I went to a lesser/easier university (I had a sneaking suspicion before I started at Manchester) . It gave me an easy 12 month look at the life of a researcher and how working in a University differs from the corporate world. It also led me onto finding my PhD funding and also convinced me that I wanted to spend the 3 years actually doing the PhD.

So all told, it was a useful and informative experience. I learnt more about CS, but more importantly it confirmed what I wanted to do. I guess I also got a reasonably worthy qualification out of it as well :)
 
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Career development loan, and yeah I'd say its worth it. I got mine part funded and it got me my current job, which depending on how you look at it made it more then worthwhile (good money, interesting job, **** company). Assuming you have a graduate account you can get a favourable term loan from your bank.
 
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I did a masters but it was an MBA. That is still useful to me as people have certain expectations (good and bad;)) of what that implies about a person.

I'm glad i did it and even ten years on it still pays off. It definitely got me a job i would not have got with just an undergrad degree and now with my own company it gives skills and credibility which are still useful.

It depends what you are considering doing a masters degree in as to how it will impact your prospects. If you have done a useful degree and do a useful masters you're in good shape. If you have done something pointless and follow it with a pointless masters, that is an exercise in turd polishing and we all know that doesn't work.
 
I got a grant for mine from a European Research organisation. However, I did a technical subject (DSP/DIP) and there's probably more grants available for such fields. The other option is a personal development loan from a bank but they can get expensive. You're required to start paying it back after a certain period - whether you're in employment or not.

I didn't live in student accommodation because I applied too late. However, I managed to find a shared house with dirty cheap (£39 a week!) rent.

Was it worth it? It was for me. I got a graduate job whilst doing my masters. Even an interview with the company I ended up working for would have been unlikely without my masters.
 
I'm currently studying Business & Advertising at the grand University of Lincoln and want to take this to a further level and into a more focused discipline, and think that a bit of a step up will be an advantage in more ways than one; might have to try bloody hard to get accepted though.

I think living-in with someone would probably have to be my best bet to try and reduce costs; I could stay with in Sheffield, Leeds/York or near Holloway but I could miss out on opportunities from universities in the midlands though.

I don't want to do it for 'still being a student' reasons, I guess I'm thinking about it as I want to do it for personal gain; not just for job prospects but for skills and research ability as well.
Tunney said:
However, I managed to find a shared house with dirty cheap (£39 a week!) rent.
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That's absurd!
 
Sound like the right reasons to be doing it.

As others have said, banks will offer things like good overdrafts for "personal improvement" on graduate accounts. Still talking around 6% interest though, and that was before the whole crunchy credit thing.

I think many who do an MSc simply have to accept that the location of the degree really has to be linked with where there is free accomodation.

OR do the year out thing and save like a mutha :)
 
My girlfriend got a Career Development Loan for her Masters, which she's now half way through.

Totally worth it.
 
I don't think you would go too far wrong if you went for Warwick, would probably be worth getting into debt for as that brand on your CV will probably earn you more in future than the cost of taking another year out of the workplace + cost of the course.

Though why do you want to do an MSc in 'Management' or 'Business' IMO you'd probably be better off getting some real world experience then going back for a year to do an MBA or getting a part time executive MBA or something in future.
 
Currently working full time and doing my masters part time. Company has partially paid for it the rest is on me and I get the time off work (and paid).

Aero
 
I have a full funded MsC i can take next year, graduating in May its just............... i really dont want to, i have had enough of Uni now and just want to get my Hons and get out there earning some coin.
 
Alternatively, you could do what I did and find a graduate scheme which pays for you to do a part time Masters, mine is spread over 3 years and I have 9 three-day residentials as well as other study.

I'm at Warwick and would recommend it also.
 
dowie said:
I don't think you would go too far wrong if you went for Warwick, would probably be worth getting into debt for as that brand on your CV will probably earn you more in future than the cost of taking another year out of the workplace + cost of the course.

Though why do you want to do an MSc in 'Management' or 'Business' IMO you'd probably be better off getting some real world experience then going back for a year to do an MBA or getting a part time executive MBA or something in future.
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I do agree with you on both points, and I'd bloody love to be accepted by Warwick. I just think that I'm still young (would finish the masters just turned 22) and feel like if I do it now, it'll pay dividends - maybe it won't, but maybe it will.

I am leaning towards courses that are in management / consultancy / risk as these are areas which I feel are suited to me. I study advertising currently because I want to best know how to market myself; rather than promote products in a sense. My goal before the age of 30 is to successfully start-up a company after a few years of work under my belt, and with these skills (masters et al) I think it'd pay off to get them done young while I'm used to living in relative anguish of debt - than to contribute to it later.

So...just weighing up my odds now :)
 
I finished my degree in May/June last year and have been working since to fund my masters - need roughly £3600 and I am just at £2700 - however I am considering leaving it slightly longer so I can get some more money behind me.

Rich
 
i'm applying to go back this september and do a masters
graduated in July 2007 - been in full time employment since then, and will go to uni part time (my employer has already agreed to give me paid time off) whilst still working

part time masters at some universities also don't charge a 'bench fee' making fee's 1 to 2k cheaper.
The MSc I am applying for is going to cost £2.2k ish in fee's over 2 years - whilst still working 'full time' and earning a wage
 
I got a fully funded MSc, but that's partly down to the nature of the subject (it was in aeronautical engineering).

I get the impression that most business-oriented masters courses are paid for (at least in part) by employers.
 
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