Tuesday, 22 August 2017

Lifelong learning – the key to optimal earning


After you have completed a decade and a half of primary, secondary and tertiary education, it can be tempting to call it quits when it comes to further tax training.

However, if you’re smart enough to make it to the end of a university degree, you’re probably also smart enough to realise that taking it easy is, eventually, a recipe for career and income stagnation.


Pay off your student debt quicker with extra study


After a minimum of three years studying, you're probably keen to start making a dent in your student debt. It may seem counterintuitive, but postgraduates earning a median salary in full-time work of $79,000, are likely to pay their student debt off more quickly than those with only undergraduate qualifications who, on average, earn noticeably less.

Note, of course, that these are averages – a postgraduate qualification in tax, for instance, is likely to be far more lucrative than one in, say, art history.


Power up the greasy pole


With around half of all high school students now proceeding to university, the brutal truth is that an undergraduate degree is increasingly necessary. But in most cases it’s still an insufficient qualification for a successful professional career.

A basic degree may get you in the door, but if you want to shimmy up the career ladder, you'll almost certainly need to undertake further study. The good news is that you don’t necessarily need to commit to something as time-consuming as a Master of Taxation degree. A practically focused qualification, such as a Graduate Diploma of Applied Tax Law from The Tax Institute, can provide you with the skill set you need to take on more challenging roles.


Make valuable connections


Career success comes down, at least partly, to who you know as well as what you know. The great thing about undertaking education after you’ve begun your career is that you get a double whammy – you learn valuable new skills and get the opportunity to network with other postgraduate students in your industry (people who may be in a position to offer you your dream job later down the track).


Achieve life-study balance


One advantage of learning later in life is that the educational institution you attend will recognise that you have a living to earn and perhaps even a family that demands your attention. This being the case, institutions such as The Tax Institute put a lot of effort into designing flexible courses that can be completed in a way that gives students the least amount of stress and disruption.

As they say, you should never stop learning – especially if you want your career to soar.



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