# Is 40 too late to return to full time education ?



## MrEarl (30 Jun 2014)

Hello,

Is 40 years of age too late to return to full time education ?

While in a decent (paying) job there are limited prospects and it is likely that the job will end in the next 1-2 years.  I gather it is highly stressful and not a very plesant position. 

As such, a friend is considering taking a Voluntary Severance package and returning to college to do a degree.  She has worked in financial services for almost 20-years, but feels a degree would help her secure a better job in the future ... hence, she's considering full time education.

Would 40 be too late to return to full time education ?

If she gave up her job, could she obtain any benifits to help her financially during the time she was back at full time study ?

Any thoughts on what a future employer might think of someone who adopted this strategy, given she would be out of the industry for approx. 3 years ?

Sorry, an area I know absolutely nothing about so thought I'd try and find a little help here.

Thank you.


----------



## niceoneted (30 Jun 2014)

First off no it's not too old. Your never to old for education in my eyes. However I think your friend might be better to consider something part time. You get as good a qualification and they can continue to work full or part time.


----------



## Steven Barrett (30 Jun 2014)

40 is definitely not too old to go back into education. 

I would very carefully consider what course she picks though. If she is staying in financial services, a college degree won't make a much difference to her getting a job as she has so much experience. 

She should pick a course specific to what she does. The Gradate Diploma in Financial Planning, leading on to be a Certified Financial Planner is very popular at the moment and they are taking enrollments for September now. I just completed it and found it very useful (if she's in that area). I would be happy to speak to her about that course if it's of interest to her. 

College is very expensive these days, so you want to make sure you do something that is going to enhance your knowledge and CV.

Steven
www.bluewaterfp.ie


----------



## wbbs (30 Jun 2014)

I also think that if she is living in Dublin or within commuting distance then maybe there is some hope of a job in financial services, if anywhere in small town Ireland then there is practically nothing in that area.   An occasional opportunity in Cork/Limerick/Galway but not much.

I agree that with that level of experience a further few years in education may not help as much as she thinks.  I also feel age plays an important part, once you start going to interviews and you are old enough to be the interviewer's mother then it makes a difference no matter what people like to think or what laws are there.

The country is awash with ex bank staff with tons of experience and there is slim pickings out there job wise if they want to stay in same area of employment, if I were her I would try for other jobs as soon as she leaves, best chance is with no break I think, if lucky enough to get one then can always study something part time to improve future opportunities.


----------



## MrEarl (30 Jun 2014)

Hello Everyone,

Thank you for your responses to date.

Steven, thank you for your kind offer, my friend is not a member here on Askaboutmoney.com but I have sent her on the link to this discussion so she can see the responses, perhaps she will join the website at some stage.

From speaking with her, I understand the key problems for her are that:

1.  She does not have a degree or professional qualification of note (apart from some banking courses) and as such, feels at a disadvantage to others.  What few jobs there are advertised in financial services these days (particularly banking) require graduates more times than not, unless they are very junior roles.

2.  She is confident her job will be gone in the next 12-18 months, so wants to start investing in her education now to try and make some progress before her colleagues also come out of the same company looking for work.

3.  While there is currently the potential to collect a payment in return for voluntary severance she is tempted to "bag the money" as she has long service.

She is living in Dublin by the way, has a homeloan to repay and all the usual outlays.


----------



## Steven Barrett (30 Jun 2014)

I went to college straight out of school, got a business degree and all they do is give you a good grounding in business and a load of theory. With her level of experience, I wouldn't say a lack of a business degree will matter a huge amount. 

Having your QFA makes a massive difference though in financial services. A lot of employers won't even speak to candidates who don't have it as it's too much hassle to administer someone who's grandfathered. I'm surprised the bank haven't got her to do it yet, I thought the banks were getting everyone to do it. 

My number is 01 485 3305 if she wants a chat. 

Steven
www.bluewaterfp.ie


----------



## ontour (30 Jun 2014)

Your friend should put together her CV and talk to recruitment consultants that specialise in the area she works.  They would have a better insight as to the importance and value of qualifications to her future prospects.

Looking at a degree, it is a 3/4 year commitment with most degrees being quite generic.  In general more specialised qualifications or certifications are likely to be more beneficial but it depends on the area of financial services.  3 or 4 years is also a considerable amount of time to be out of the workforce in education - that will also create a challenge in recruitment processes.

Some people return to education like a duck to water at 40,50,60...  others find it very difficult.  Your friend should start a part time course in September to guage her appetite for a return to education and to improve her qualifications before the current role ends.


----------



## MrEarl (1 Jul 2014)

SBarrett said:


> ....Having your QFA makes a massive difference though in financial services. A lot of employers won't even speak to candidates who don't have it as it's too much hassle to administer someone who's grandfathered. I'm surprised the bank haven't got her to do it yet, I thought the banks were getting everyone to do it....



Thank you again Steven.  She has the QFA almost completed, but think she wants to do something more ... also she is working for one of the outsourcing companies, not a bank & hence the desire to get out and back into banking.


----------



## Steven Barrett (1 Jul 2014)

Well the QFA is vital. 

She needs to look up what qualifications banks are looking at at the moment. I doubt a general business degree is one of them. They will be looking at specifics, which may require a masters degree, so you can count them out, it will take too long. 

The Grad Dip in Financial Planning is certainly something banks are looking at on the sales side. As she doesn't have a college degree, she will need the QFA first to enroll on that course. 

Without knowing specifics, I would avoid doing a general business degree and focus on a specific area and get a qualification in it. They're not cheap though. The Grad Dip in Financial Planning cost €6,300. For those who went on to the Masters, it cost them €10k in total. 

Steven
www.bluewaterfp.ie


----------



## MrEarl (1 Jul 2014)

SBarrett said:


> ....The Grad Dip in Financial Planning is certainly something banks are looking at on the sales side. As she doesn't have a college degree, she will need the QFA first to enroll on that course.
> 
> Without knowing specifics, I would avoid doing a general business degree and focus on a specific area and get a qualification in it. They're not cheap though. The Grad Dip in Financial Planning cost €6,300. For those who went on to the Masters, it cost them €10k in total.
> 
> ...




Serious money that.

Out of interest, I did a quick search on a couple of job websites today looking for jobs at "manager" level in Banking.  Interesting to note some wanted a degree with a 2.1 minimum.  I guess thats the issue for her, she's not able to get to an interview for some jobs due to this requirement.


----------



## homecoming (2 Jul 2014)

40 is a great time to do a degree. All that experience in life and work ill be invaluable. I went back to Uni for a year. I didn't personally like the student vibe as I had worked in Corporate Industry and my mindset was different. I then achieved it on line, still had a job, doors began to open and I plan to do a Uk Masters on line. I can do it over one or to years and I'm heading for my fifties, I don't even think about my age and I plan to do something completely different next year. There are some fantastic Harvard courses {EDX Meet up communities} for free on line to help you make that decision or change. 'Unlocking the Immunity to Change is an excellent one for personal development.  Good luck and go for it.


----------



## lameire (31 Jan 2015)

homecoming said:


> 40 is a great time to do a degree. All that experience in life and work ill be invaluable. I went back to Uni for a year. I didn't personally like the student vibe as I had worked in Corporate Industry and my mindset was different. I then achieved it on line, still had a job, doors began to open and I plan to do a Uk Masters on line. I can do it over one or to years and I'm heading for my fifties, I don't even think about my age and I plan to do something completely different next year. There are some fantastic Harvard courses {EDX Meet up communities} for free on line to help you make that decision or change. 'Unlocking the Immunity to Change is an excellent one for personal development.  Good luck and go for it.



This is so inspiring. Did you do your course via the UK Open University? Or somewhere else? I was thinking of doing something online with them but worried the end product may be of no value in Ireland! My impression (could be wrong) is that some employers prefer qualifications from an Irish or UK University and NOT the Open University BUT perhaps that view/perspective has changed over the years.i


----------



## so-crates (1 Feb 2015)

I know the OP posted six months back and their friend has probably already started on a course but if they ever need inspiration when the going gets tough, they could do worse than take a leaf from the book of this woman! Back to school is hard enough but starting school for the first time at 85 is impressive
http://www.bbc.com/news/world-africa-30935874


----------



## Jim2007 (1 Feb 2015)

lameire said:


> My impression (could be wrong) is that some employers prefer qualifications from an Irish or UK University and NOT the Open University BUT perhaps that view/perspective has changed over the years.i



When it comes to academic standing the OU is the same as any other university in terms of credit transfers, exam exemptions granted by professional bodies and so on.  I know several European MNCS that sponsor their employees on their courses.  And indeed among Swiss banks their MBA program is well known and held in high regard.


----------



## dub_nerd (1 Feb 2015)

I've found the quality of OU education to be very high. Just completed an honours degree in Natural Sciences, focusing on astrophysics, and loved every minute. I turned fifty last month. Unfortunately due to cutbacks the OU has now gotten much more expensive and has dropped most of its face-to-face support, particularly tutors based in Ireland and residential schools. So, for instance, an astronomy residential I did at an observatory in Majorca where some of the highly experienced tutors were designers of recent space probes doesn't exist in the same form anymore.


----------

