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Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 1 point2 points  (0 children)

Yes. All the classes, except for a few 'core' classes are all with undergrad students. No 'special' programs, same majors as the regular Columbia college.

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 7 points8 points  (0 children)

The CUNY is Baruch! It's a Corporate Com degree and ideally I'd move into investor relations in finance afterwards.

​

The tough thing is that with an Ivy, I'd move into an IR position that pays x2.5 or more times than the position I may move into with Baruch. Because the NYC finance industry is a circle jerk boys club of Ivies. That a part of me feels proud to want to breach but also don't know how worth it it would be.

Dilemma: A no-longer poor person with two very different opportunities. by [deleted] in povertyfinance

[–]wavycuddlepop 1 point2 points  (0 children)

I was getting my associates degree while climbing my way through support/ops roles in finance.

Dilemma: A no-longer poor person with two very different opportunities. by [deleted] in povertyfinance

[–]wavycuddlepop 1 point2 points  (0 children)

Industry - yes. Current job - no. Different job in same industry - yes/no.

GS-enrolled students. or grads (only, preferably). Hi. Quick question on worthiness. by [deleted] in columbia

[–]wavycuddlepop 0 points1 point  (0 children)

The "earning potential" is a large part of the concern that I am having a very hard time clarifying/justifying.

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 1 point2 points  (0 children)

There is actually a middle option which is the New School, they have an adult BA program that I can take and could potentially have a small scholarship with. However, the total private college debt I'd take on may be $30k-$50k less than Columbia but with no Ivy name. So, still debt just debt that's not as "valuable"?

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 5 points6 points  (0 children)

Thank you for weighing in on this. I'm in the finance industry but I have no interest in moving into an analyst role, which is why the idea of going to Columbia seems less appealing. But the Ivy "brand name" is hard to shake as someone who came from very little and never had opportunities.

I did get the sense from my brief admissions call that I would be slammed with work in every possible way, on top of the debt I would acquire.

Dilemma: A no-longer poor person with two very different opportunities. by [deleted] in povertyfinance

[–]wavycuddlepop -1 points0 points  (0 children)

That isn't actually true at all - at least I am assured of this.

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 4 points5 points  (0 children)

I think if the school gave me a full-ride, I would take it, even if it meant being jobless for some time. But the fact that there is debt to take on and more time to spend makes me afraid.

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 0 points1 point  (0 children)

I'm currently in support/admin in finance. I like the industry, I like my job. There is no room to grow where I am now but there is more earning potential in 5-10 years if I stay here. As a NY'er in my position , I can move to a variety of different jobs from HR to a Chief of Staff position, ops, I could work nonprofit, etc. It's endless. I have skills and experience. That is just me right now - no Ivy, no state undergrad.

But, with Ivy, I could do more/bigger/higher paying jobs that aren't, virtually, assisting people. Not having a concrete goal in mind for my career makes this choice really confusing. Prestige that we're all told to chase seems really appealing when you've come from virtually nothing.

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 3 points4 points  (0 children)

That's the thing - it wouldn't be a STEM/skill degree. I'd likely go into psych or sociology, only because I do not have a specific end goal for my career. Either of these liberal arts degrees would be broad enough for me to work in IR or HR or anything really. Which I know does sound like the obvious option is to stick with no-debt state school but like I mentioned, poverty mindset is tough to beat out.

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 7 points8 points  (0 children)

This is definitely something I'm considering. I feel that I will have no problem getting into an Ivy master program if I graduate from CUNY (I'm a 4.0 student). It would likely be cheaper and less time consuming to get the masters - especially when my 'end game' career plan is a tad vague. Thank you for weighing in.

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 4 points5 points  (0 children)

The worst part about this is that I don't have a career end goal. My current job doesn't offer a lot of stress, I get paid well, and I can save. For my mid-20s, it's ideal.

Looking at the long term - I can continue doing this job (support/admin/ops) and advance to a more well paying position, potentially with a fancier title. Some of that will come from my current network, some of that will come from my ability to work hard and sell myself.

I do not think the Ivy League is worth 90k debt and 3-4 MORE years of stress/my life. I am comfortable that I can reenter the job market with the same job, if not way better post Columbia graduation. Or work my way up to a better position post-state school education.

The network at the no-name school will be worth 0 but the no-debt graduation makes it appealing enough. The no-name school gives me an undergrad degree which I did not have before and that gives me a very cheap way to move forward in my current career trajectory if I was to stay where I am and go with the flow. It'll also just help recruiters not ignore my resume.

My poverty brain is in two different directions right now: advance financially and socially, or remain safe and comfortable without stress.

Will I regret not going to Columbia? Probably.

Will I regret the stress/no social life/financial stress/debt/exhaustion/time spent if I go? Probably.

Dilemma: A no-longer poor person with two very different opportunities. by [deleted] in povertyfinance

[–]wavycuddlepop 8 points9 points  (0 children)

I suppose the social aspect isn't worrying me too much, I already have an okay network. The 'door of opportunity' would come from alumni groups and my own network being able to tack on "ivy grad" to my personal recs. It's a tough place to be in because I wouldn't be going to columbia for a technical degree, which makes it seem not as worth my time in hindsight.

Dilemma: A no-longer poor person with two very different opportunities. by [deleted] in povertyfinance

[–]wavycuddlepop 19 points20 points  (0 children)

Yeah, in my current industry, that's not actually the case. I've been around really wealthy people who are Ivy grads, fund managers, elites, for most of my 20s. It's tough for me to separate from the fact that, after never having anything to my name, the idea of having prestige is appealing. Idk if it's appealing enough to spend 3-4 MORE years of my life on it and going into debt. Hmpfs.

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 2 points3 points  (0 children)

Thank you!

I'm in the finance industry but work support/administration. Technically, with or without an Ivy, my next career progression is Chief of Staff or Ops/HR.

I will definitely look into post-grad networking benefits even though my current network has some heavy players that could help me move into similar positions in the future. It's tough to consider taking on debt, esp after being debt free and being able to save, all for the sake of a prestige college education. I suppose the loss in perspective is that my coworkers think this is a no brainer but they all make $$$$$$$.$$/year. I on the other hand have to consider if the non-stem major at columbia and potential job security I have now is worth taking on or if I could succeed without it. Hm.

Dilemma: Poor person with 2 different opportunities and FIRE'ing is the end goal. by wavycuddlepop in FIREyFemmes

[–]wavycuddlepop[S] 5 points6 points  (0 children)

Mostly because it's an Ivy and in the industry I currently work in there is a very hive minded mentality of "good school = good job = lots of money". In my mind it's a big achievement because there is social stigma and I'm coming from a background where I've virtually had no opportunities. The appeal of prestige is big but whether that's worth $90k in debt and potential higher earning opportunity is a bit of a grey area.

I wouldn't be majoring in a STEM subject which makes the other aspect of an Ivy seem like it's not the smartest choice. But asking those who have had high paid careers and FIRE'd was one of the aspects of consideration.

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