I made the decision - get my MBA or buy a nice car... This was pre mmm...
I am glad to choose the education, even if it hadn't unexpectedly paid off in spades like it did. Sometimes the mind can stagnate at work. It was like a mental fitness investment in myself. And I will have better quality of life.
So don't think FIRE or education... think about the frivolous stuff you are not buying and feel happy in the choice.
Now if it is merely a chore... I would quit and invest, of course!
I agree with this. I graduated with my MBA ~2 years ago. There wasn't any direct advancement opportunity at the time as a result of my new degree. I didn't really have any plans other than I like school and work was paying for ~1/2 of it. The weird thing is that it made me more ballsy. Shortly after graduation, I went out and got a new job at a different company and was recently approved for a very significant raise this week with no title change or additional responsibility. They find so much value in me that they don't want to risk me leaving.
Not only in advancement opportunities, but I have noticed that life in general is easier. The further I went in school, the more I realized that the teachers don't have all the answers, nor are they supposed to. If I want something I have to go out and get it, not just hope that it comes to me. I regularly get pulled into meetings well above my pay grade because my education provides me with the skills to help analyze the #'s with people much more "experienced" than me. So in my opinion, if I can sit in a meeting with people 20-30 years my senior and have an educated discussion on the same level as them at ~28 years old then I would say my education was well worth it.
As Goldielocks said: If you like school and learning, do it. If you think school is a pain, drop out and invest instead.
Masters Degrees (and I have an MBA) are highly overrated and oftentimes unnecessary in the grand scheme of things. They're also a dime a dozen. Of course, I left the workforce many years ago to be a stay-at-home mom, so that's easy for me to say.
It's a fine line, but I would much prefer someone to have business experience over book knowledge; and I think this is definitely the case as you get older. Since you want to ask for a raise in the fall, do not ask for enough to cover the tuition, also. Ask for the raise you want independent of the tuition. And then also ask for them to pay for your education, if that is the course you and your company want you to take. If you are being groomed as the next CEO, someone at that company will see to it that you are taken care of.
I agree to a point. I would rather be over-prepared though. If as a Mustachian we are planning on leaving the workforce early, then we must play our cards smarter. The extra education could lead a person to get advanced to higher pay grades faster so they can save/invest more and retire faster. The raise I am getting this year is enough to cover my entire MBA program....Also, it will set the precedent for all my future pay.
Everybody's journey is different. Looking back today, I am very glad that I followed through with my Masters.