A husbands story
Aaah, audiology! Its been few years since I googled this term. And what do I find!!! This discussion!!! Very lively
I thought this is a perfect platform for me to share view from the other side. I dont know how many of you have partners who are focused and willing to think out of the box and guide you to succeed financially and career wise.
My wife (speechie) decided a year into our marriage to pursue aud at a place away from where we lived. So the next 4 years were spent separated and we survived .. no worries there but this decision was made using what my heart said not using head and goal was I will get ahead of the crowd before the rules changes have aud and position for a growing career both financially and nature of work
Well well what happened? as the OP mentioned no financial gain , no growth just reduced to a person running tests
I could see the disappointment in her eyes.. salary rock bottom .. overall gloomy, I personally from reading now believe there is no great future in this profession.
What did we learn:
Those in her class who did not pursue aud (4 years) were 250K ahead in their earning ( pre tax figures) ,,,,, I believe to some extent that salary is important and should be fair for the education received unfortunately your profession seems to lack the fire power ( people
mentioned by OP)
Rescue plan:
So, I am simple sales man and decided to help her out. I coaxed her to think out of the box and consider an MBA. She resisted initially but I convinced her to read Wall street journal, company annual reports of Pharma/hospital chains/devices companies etc.. and that helped her see the outside world
..
Then I guided her to consider school ( I showed her a chart
I have attached for all to see what I mean).. an eye opener
Decision using HEAD:
She is now at HBS (check:
www.hbs.edu) . appears she is an odd candidate with such an unique background. I am very happy to see that her confidence level has multiplied a zillion times, realizes that the world just opened up and talks all the management mumbo jumbo words, strategy/M&A blah blah
aaah feel good
during summer she interned at McKinsey ( check:
www.mckinsey.com)
Chart for life time earnings ( only pre tax and no loans considered):
Candidate age in 2012 : 30
Retirement at: 60
Shows three cases: one sticking with aud
the other deciding to do mba (2years $0) the other deciding to do MD ( four years $0)
Note: post mba at mckinsey like firms you can pull in 110K but involves to travel there fore I put a job at a generic healthcare firm with 85K as start.. moderate travel.
Lesson:
While passion is important its sensible to take care of finances also and be practical is positioning yourself
may be the graph is self explanatory