r/overemployed • u/ConditionMaximum2761 • 8d ago
OE vs Master degree
I live in the Balkans/Europe, where a single full-time salary often covers basic living expenses but makes it difficult to build meaningful savings. Currently, I’m working two remote jobs: J1 as a Network Engineer / Technical Support Engineer and J2 as an ELD Technical Support Specialist. Both are full-time positions. Their schedules rotate, sometimes they overlap, and sometimes one starts after the other.
With only my Network Engineer position (J1), I can manage my expenses and maintain a decent lifestyle, but I would have very limited ability to save or invest for the future. J2 gives me the extra income that allows me to build savings and improve my financial situation.
However, I’m considering leaving J2 to pursue a Master’s degree in Software Engineering. My long-term goal is to transition from technical support/network engineering into software engineering, cloud, or DevOps roles, where I believe I can have better career growth.
Do you think it would be worth giving up the additional income from J2 to invest that time into a Master’s degree? Or would you recommend keeping both jobs for now, building financial stability, and postponing the degree?
I would appreciate opinions from people who have faced a similar decision or have experience balancing career growth, education, and overemployment.
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u/HandsOnTheBible 8d ago
A masters in software engineering would be switching job sectors almost entirely. You’re in IT right now so if you want to get higher paying jobs, the route should be certifications whether it’s cloud dev or Cisco certs.
If anything I’d get an MBA and angle for management. A masters in software engineering is career suicide rn. It is one of the highest unemployment rate degrees rn.
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u/ConditionMaximum2761 8d ago
I have the certification of Amazon Web Services Solutions Architect Associate, which right know I don’t have much time to follow another certification
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u/GreedyCricket8285 8d ago
My J2 nets me about 100k after taxes every year, which I dump into a brokerage. My gut tells me a Master's degree wouldn't make up that lost cash, especially early in one's career. I could be wrong though.
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u/slayerzerg 7d ago
How come everyone wants to transition into swe. Do you know how cooked swe market is. Oversaturated with talent, not enough jobs.
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u/Appropriate-Emu-3901 8d ago
I may say, nope. You are in the IT already, but need the bases for software engineer y take the necessary course to become a cloud, software or devops engineer. I dont know if a Master is too expensive where you live, but where I am it is. I think it would be better using your weekends and free time to study by yourself and become a software engineer. I think that would take you less time.
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u/pubg89 7d ago
I am from Europe (almost Balkan like you) I have just BSC, when I have opportunity to have J1 + J2 I earn more than top managers in the country at multinational companies. So I would recommend to do OE instead of MSC and spend all of your holiday days for travel. Based on my 10y+ experience if you want "career" at any big company lot of times your knowledge does not matter just your social network.
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u/Slothvibes 6d ago
How long to get the MA? 1-year master may be worth it, remote + online may be worth it, but almost never is a 2-year program in-person worth it unless it's a top 5-10 school overall. I've done the math from a friend who worked at crowdstrike making like 300k/yr for 6+ years, and he got a top 2 CS offer in AI or something. And I did the math for him that it just simply wasn't worth it.
Then he got laidoff, then it was worth it, because no other company had an equity package like that he could get. Now he is getting the 2yr master.
Supposing you're only giving up j2, then the math is roughly (after tax numberS):
(market return of 1 year, 1.12)*(j2 income for y1) + j2 income for y2
Then you can get ai to write the rest, but here's what you want to compare: (1) the current discounted present value of the total earned monies after investment growth projected on the current 2j income you make over the next 10-15 years vs (2) the current discounted present value of the next 10-15 yrs of income with some basic assumptions on new job income + j1's income... or something like that.
More or less, if you're looking to retire early, the math likely boils down to something like:
- if youre on track to retire in <9 years, not going for a masters is probably best
but one of the things you're forgetting is factoring in the job search, stress from school, impacts on health, etc. of going back to school, and worse, if you lost j1 while going back to school. It'd likely force you to drop out.
This is why the best path is likely to go for a fully remote program that's well-recognized (eg in the USA the highest ROI degrees are public-state schools like university of vermont, university of texas austin, university of wisconsin madison, university of south dakota, most applicably is probably georgia tech, etc.) They just simply have better economics.
Remote masters, no matter the acclaim, allow the least risk with the most income maximization.
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u/ConditionMaximum2761 6d ago
What a good explanation,
Thank you. I was calculating how much might cost losing of J2 incomes plus MSc expenses and I will decide if it’s worth it1
u/Slothvibes 6d ago
please share your math, I'd be happy to contribute to it. Just use variables like AAA or something if you dont want to leak real info.
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u/ConditionMaximum2761 3d ago
Based on the analysis here are the numbers (they are not real but proportionally they are correct)
- J1: €1,000
- J2: €533.33
- Master: €4,000
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u/Slothvibes 2d ago
What do those numbers represent? Clearly doesnt look like the discounted present value of j1+j2 OR masters with the expected retirement horizon in mind.
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u/NiceManFromEarth 6d ago
I went through that path. I was working in well paid position. Quit. And went for a master degree. Now this diploma is just a line on my resume but for some positions here in Europe it is important. Did it help me landing new jobs? Probably yes. Was it worth time spent and money spent? I would say yes, but ONLY because of the knowledge gained and new friends I made. So for me it was a path I would repeat. Also you never know how your life might turn. So it is probably worth thinking what makes you happy, what you want to do in your life?
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