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Before diving into full time studies, research the field of study. Why spend a lot of money and time working in a field that isn’t going to make you happy or that doesn’t pay what you thought it would. Most people tend to think on the higher scale of pay when imagining what their chosen field can offer.
Let’s say you want to become a psychologist. You might think that a psychologist pay scale is way up there. One way to find out what a psychologist pay scale actually looks like is to visit your local employment center and talk to a career counselor. You can even search labor market information online to find out what the trends are in psychology careers. What are the job prospects? What is the starting salary?
Another option is to contact various psychologists and ask them about salary. Don’t ask them to divulge actual numbers, but find out what it was like starting out and how long they had to work before their salary increased. You’ll likely find a big difference in what a private practice psychologist makes and the psychologist pay scale of someone working within a government agency.
The important thing is to have a good understanding of the pay scale before investing all of your time and money in that field.