Balancing Work and School

Photo by Thomas Hawk

Most students report difficulty getting their work schedule to accommodate their class schedule.   If you put work over college you will never finish your degree.  Sometimes a lower paying job will net you more money if your schedules can mesh. 


For some people, there is a cool job factor, whereby some of you will take a lower paying job because you feel this job impresses friends.  Conversely, some of you will take less pay to avoid jobs you feel are beneath your dignity.  

Photo by DAEllis

Think about this, if you had a high paying job where you couldn’t work as many hours, you make less money but will tend to spend more money because you have more time on your hands. Also if you can get paid more it can reduce the number of hours that you need to work and have more time to study.  If you are concerned about spending more because of free time, then just work the full schedule and save the excess. 


 Many companies exploit young workers because they are cheap.  Once your boss sees how hard you work it is highly likely that you will be pressured to work additional hours.  Remember that time is a scarce commodity during college, so additional work must come out of your play time which we earlier noted was very low.  You will need to be firm but tactful in ensuring that you are not made to work more hours than you have available in your schedule.  


Be careful about loading your schedule too heavily, because breaks and diversions can help to reduce the likelihood of burnout. You studies will probably suffer if you work beyond 20 hours because you will tend to forgo study over having a good time with your friends.

For those living at home there will be an adjustment that parents and adult children both will have to undergo.  College takes more time than high school.  Parents sometimes don’t get this.  If your parents did not go to college, you will have to respectfully explain your time commitments.  This sample schedule could be a useful conversation tool with your parents.  Some of you have huge family commitments you need to renegotiate.   If you don’t then you will not have enough time to study.

Remember, you will need to recreate your study schedule every semester as class schedules change.  In addition, as you near the end of your degree, you will see less flexibility as you will need to do certain classes at certain times.  It is also rare to get exactly the classes and times that you want, so you will need to constantly adapt to a changing schedule.  


Multiple classes can fill some requirements, so look for those opportunities to create flexibility. If you are inflexible, you will take much longer to finish your degree.  The longer it takes for you to do your degree the less likely you will complete the degree. 

Time Value of a Degree

The above chart is a simplified way to look at income.  It does not take into account the multiplier effect of benefits such as health care, retirement benefits, paid vacations, bonuses, stock options and the like.  


The point is that while you are in college you will notice your non-college friends having more money, stuff, and free time than you. 


Since the dropout rate of college is high in the first year, there is an exponential effect as more and more friends seem to be much happier as they drop out and start having fun.  It’s times like this that you need to remind yourself of the deadbeat threshold.  Right about the time you complete college your non-college friends are beginning to get kicked out of their households.  


When a deadbeat is kicked out, it is devastating to them because they do not have enough earning power to keep them out of poverty.  Add to the fact that many of these folks have kids and a family to take care of at this point.  Fast forward another five years and if you have managed to limit your college loans and have been saving, you should be able to think about buying a house!  This assumes you are married to another college wage earner.  DINKS (double income no kids) have the added ability to save very quickly because costs are so low. 


For those who want to attend a distant college remember that living and working on campus saves a lot of commuting time and gas money, but dorm and food plan costs more.  You can lower this cost if you are willing to rent a room near campus, but this brings some additional issues to consider.  How will you commute to school and work?  What will be the living arrangements and legal agreements among roommates?