What's your HECS debt and what's your degree?

Master of Industrial and Organisational Psychology
Bachelor of Psychological Science (Honours)
Bachelor of Arts - Psychology

Most recent indexation brings it to a lovely total of $93,746. I try not to think about it.

Comments

    • Haha edgy

    • +9

      Or if you really want to OzBargain a degree - finish degree here and move to another country and work there instead.

      HECS debt in another country $0.

    • +3

      The level of "humour" on this website of late is just cringe.

      • +16

        You mean we can't just make a half assed attempt at humour by mentioning bikies, an 80k car investment or eneloops?

        This website is probably the most impressive I've ever seen in terms of beating dead horses.

    • +1

      All aboard the neg train.

      • Bikies

        • Peter Dutton

    • -1

      Can we please put the bikie "joke" to bed now. It was never funny. And just stupid.

  • +8

    OP, holy F

    What sort of salary would someone with your degree be on btw?

    Bachelor of Business

    Debt 7k left, should be wiped out once this years over

    • +15

      You probably earn more than OP, OP is a professional student, probably busy applying for next course?

      • +18

        Damn, a little bit judgey.
        It's not like OP jumped around different degrees, just following one path to get their masters

        • My bad :) usual intention of professional students are to be very well educated, no need to be different degrees.
          Pay scale usually don't reflect on amount of degrees you have and I know x3 phd in same pay scale as I'm, they just loveeee to study :)

        • @boomramada:

          Pay scale usually don't reflect on amount of degrees you have and I know x3 phd in same pay scale as I'm, they just loveeee to study :)

          This is specific to Australia though. In many other countries, number of degrees matter and more importantly, unis/colleges from where those degrees are.

          At times though, one degree from more reputed uni is heavier on payscale than three degrees from other unis. ;)

        • @virhlpool: You are correct. I can only comment on comparison with USA. Over there a degree is a dream for many and proffessional qualifications and experience are highly valued in the market. In USA if you have a PhD in IT, you will land a very good job. Here I've worked with many PhD holders in IT who would never mention it at work. If they had mentioned they wouldn't get the job in first place. This is not that good for the future of the country.
          There is next to no special value for academic qualifications in Australia. Must be due to supply and demand in the market.

      • +13

        Lol to be a psychologist you pretty much have to do 6 years minimum training which OP did

        • -2

          Sorry my bad, I just noticed, both you and OP prob did double degree then masters. My judgement doesn't apply to you.
          But still not value for money is it? Masters are $$$, I wouldn't do masters/phd unless work giving some support ;)

        • +15

          @boomramada: Not everyone in this world is obsessed with money (thank God!).

          If the masters was enjoyable or opens up an opportunity they want then it probably was value for money.

        • @callum9999:
          Did I said, professional student. masters don't get you opportunities, experience does. More like personal satisfaction.

        • @boomramada: sounds like you could do with a little extra education. All your posts contain the weirdest grammar…

        • @Sinthesys:
          Yep I also got master in Accountancy, and work pay for it, go figure ;)

      • Organisational psychology is serious business. A single sociopath alone cost organisations way more than 150k a year in inefficiency and liability, especially in the public service.

    • +6

      The last stats I saw date back to a decade ago and the median was ~$120k but that was mid-career. I'm getting paid half that much in an entry level job and I also got made redundant last week. It's also a pretty broad skillset so not everybody will follow the same path.

      • Damn that sucks, plenty of opportunities though
        Were you in an internal role?

        • Nope it was consulting. Do you think? I want something that's org psych specific not a generalist OD/HR

        • @scepticpsych:
          What state are you in and how long ago did you graduate? It was difficult for my uni cohort straight out of uni for a few years with lots doing short term gigs or not the most sexy psych work

        • @original15: You don't happen to be in Perth do you? I went to UWA and finished at the end of 2015. I did some contract work and then struggled to find what I was after in Perth and ended up going back to Sydney for this role. I know others in my cohort that were having trouble finding work that was specifically org psych related. How about you?

        • @scepticpsych:
          Na I'm in Vic but know WA is a small field
          I graduated a few years before you and have done a bit of consulting and internal roles. Like I said, a lot of my cohort struggled for the first few years getting solid work and were doing a whole range of gigs, outplacement stuff, recruitment stuff, internal generalist stuff a lot doing short term contracts with your typical psych consulting companies. Don't give up tho, honestly seems like the first few years or jobs (at least in a lot of cases) you don't need to have done the psych masters/basically you're just getting some runs on the board and then bam you'll all have a bit of experience and be able to shift into those more specialist roles (if that's what you're after) but also know heaps that have stayed generalist and are lovin it
          Dunno what Sydney market is like now for I/o prospects

        • @original15: That's good feedback around the first few years, I definitely feel that my skills are under utilised at the moment. I/O specific stuff comes up so rarely (just based on last job search) so I'll probably have to compromise, will try to stay in the talent/assessment space. Appreciate the encouragement though

        • @scepticpsych: Human factors in engineering design. Becoming more and more popular now.

      • It's also a pretty broad skillset so not everybody will follow the same path.

        So true, sometimes willingly and sometimes due to lack of any choices.

    • -2

      Less than working in a call centre

    • Bachelor of Psychological Science (Honours)
      Bachelor of Arts - Psychology

      Not much unfortunately…

  • +68

    Cert 2 in catering. $423

    • +1

      Diploma of Beauty Therapy at the Ponds Institute.

      Double major in facials with waxing and laser hair removal elective subjects.

      $17,750

  • +12

    You better start working in maccas to get some work experience.

  • last time I checked I think it was around 70k
    Will have to do tax this year and check

    Bachelor behavioral science
    Honours in psychology
    Masters in industrial organisational psych (same as you OP - what are the odds, knowing how few of these courses and students there are in Aus)

    • +8

      Maybe we know each other - I wouldn't be surprised!

    • Did you both enjoy the course? Was it quite intensive? Was it very competitive to get into? A part of me wants to apply for this course as a mature aged student but not really liking my chances and not sure I have the time to dedicate myself to it.

      • I enjoyed it, made some great mates. Uni hours weren't too bad, might have been 2 days a week with half day lessons? Can't remember really
        but you do have to do a lot of placement work (unpaid, although there were some with a small allowance), think it's 133 days over the 2 years. Then there's obviously the thesis which goes on in the background
        My course was probably 40% straight out of honours/undergrad/HS, 25% with a couple years off in between honours or Undergrad and then masters, 35% mature age/people who had been working in mostly semi related fields for 10-30years
        Some did it part time over 4 years to juggle current work.
        Was good, learn a lot, working in the field now, could do my job without being a psych but would I have got it if I wasn't/didn't have the skills I got with the course..?
        No harm making an enquiry if you're considering it

    • Hey how come your psychology degree is called a "bachelor of behavioural science" (in general psychology) and OPs is called a "bachelor of arts" (in general psychology), so what's the difference? I thought psychology was literally the science of the human mind.

      • Might be subtle differences or differences in electives people can select. To be an accredited psych course to count towards registration there would have to be uniformity across some core elements

  • +2

    I did a teaching degree. Finished 2011. $30k debt, now at $15k.

    • +3

      If you are now employed as a teacher hopefully you you have been taking advantage of this.
      http://studyassist.gov.au/sites/studyassist/payingbackmyloan…

      • I sure have :)

        Thanks!

      • +5

        And part time hours plus 4 months holiday each year!

        • +11

          I mean it is basically full time hours once you take into consideration the work they do outside of 9-5, but yeah, 4 months holidays is nice!

          EDIT: not a teacher, just dating one

        • +6

          @theguyrules:

          EDIT: Does the principal know?

        • +10

          So all my marking marks itself? or lessons come out of nowhere?

          Please tell me that when you're up at 1am marking essays or spending half your holidays programming and learning for subjects you're not trained in.

        • How?

  • +4

    Finished my Bachelor of IT in 2008, $35k debt, paid it off in 5 years. Considering going back to study something people actually respect and hold value too, yet to work out what that is though.

    • +1

      What like a computer science or software engineering degree?

      • +3

        More application management and deployment than application development.

        Most IT degrees are just computer science degrees with a lot of the heavy theory replaced with business subjects. Easier, generally less desired, but more practical for people looking to go into the business side.

    • +1

      Interesting. I did my BIT between 2010 and 2014 part time while I worked full time. My debt was only $24k once done.

      Out of interest, Why did yours end up being so much?

      Networking and Software Dev majors.

      • +1

        Some STEM (mainly maths, science, IT) units have had very low prices over the last few years. I seem to recall something like first year accounting being about 3x the cost of a first year maths unit (6k vs 2k?)

  • +1

    Approx 46k debt.

    Bachelor of Applied Finance and Bachelor of Economics.

    DOn't know how long it will take to pay it back, but we got time!

  • +33

    This is ozbargain, not ozbraggin'

    • +28

      Or Whirlpool.

    • +11

      Debt is bragging?

      • +6

        It's indirect bragging.

        The bigger the debt ⇒ the more prestigious the course, +/- the more prestigious the university, +/- greater the number of courses attended.

        • +29

          Exactly right. It doesn't take a Master of Industrial and Organisational Psychology, Bachelor of Psychological Science (Honours) and Bachelor of Arts - Psychology to work that one out.

        • +8

          Not true at all - the cost of the course is dependent on whether it's a commonwealth supported place, whether it's a private institution etc. My honours and masters were both unfortunately full fee (i.e. were not subsidised the government). In contrast, the same masters course at UNSW ends up being $6k/ year. Would that make my debt less prestigious?

        • +4

          If I could give up my first degree and take back the money, would do it in a heartbeat

        • +12

          Eh, not exactly.
          Failing courses also leads to a bigger debt.

        • Not to mention smaller debt = higher salary!

        • This doesn't make sense to me. A massive debt and 6+ years of full time study to then earn the industry average of $72,877? How is that bragging?

          It's great that people are starting to question the cost/benefit of their degrees. I think there are too many people at Uni.

        • @scepticpsych: Well said, mate. Public institutions are often cheaper than private ones. It doesn't make them less prestigious, infact they are generally much more prestigious.

    • +5

      Wow. Just wow. How insecure are you if you feel a $100k debt while getting made redundant is actually bragging?

      • This

  • +1

    Bachelors degree in Mechanical engineering (hons) and a second degree as a Masters of Professional Engineering (Electrical) totaling about 60k in debt, both degrees together took 6 years all up, so about 10k a year.

    • -5

      UWA. Biggest joke of a uni. I can't wait to get out of there.

    • I'm just wrapping up my degree in mechanical engineering. Is it easy to do a masters in electrical? I only had one electrical subject in my mechanical degree (first year intro to electrical). Would you recommend it?

      • +1

        Its sort of up to you if its something you'd like to do to be honest, was worth it for me because it gave me a few years more uni when I didn't know what to do with my life and I enjoyed studying (I ended up in a job in ICT though which I believe I got due to this masters). I found during interviews it was seen as pretty positive since people are like "oh nice 2 degrees in engineering including a masters and at USYD oo oo". But do expect to receive the question "why did you want to change" fairly often.

        I did it at the University of Sydney which is a 3 year degree (2 years if you did engineering beforehand as 1 year is credited). I think it has to be done through a "Professional Masters" sort of thing (3 years not 1 year) as its like another degree (you are Engineers Australia certified as an electrical engineer and a mechanical engineer afterwards).

        If you can get a job now or you enjoy mech, might not be worth it but if you want a career change to a different engineering course (you can do telecoms, power engineering, software etc) or don't know where you want to work I'd definitely do it.

  • +1

    Finished in 06 with a 25k debt (Double IT/Commerce Degree) now zero.

  • +1

    Bloody hell!

    3rd yr Bachelor's Degree in Comp Sci - HECS debt is around $7k.

    • +1

      That was my thoughts.. Easy 3yr Bachelor of Computer & Information Science, total debt was around $7-8k, paid off in first year after graduation.

      Seems investing in giving out degrees would have been more lucrative than investing in bitcoin!!!

      • +4

        A year at monash uni is around 8k or more (1k each unit). Guess there was a huge price increase

  • Bachelor of Business and Law - $55k

  • +1

    B. Math (Hons), paid up front.

    • Why pay up front?

      • +4

        I paid for both of mine up front (B.EnvSc, GradDip Project Management). When I started out it was 20% discount for paying up front, 10% by my postgrad. Saving 20% was totally worth it, was only about $3-4k a semester which was easy enough to pay for with casual work.

      • +1

        I got in when it was 20% off and B Math is cheap so why not?

        • Hi, which university offered this discount for upfront payment?

          Do they still offer it?

        • +1

          @movieman: It wasn't University specific, that's how HECS used to work. It changed in 2012 to a 10% discount for upfront payment.

        • @lupitegr: isn't it 5% now?

      • +3

        Because mummy and daddy can afford to

        • Partly them, I also paid through summer jobs and tutoring. They helped partly because they felt bad, they went to uni when it was free.

  • +1

    I did a Bachelor of Business - it is fully paid off now but I think it originally came to $25k or so.

    $95k will take you 20 years to pay off

    • +5

      That's assuming you ever make enough money to have it deducted :)

    • +1

      Depends on what you earn as well

  • -4

    200k+.

    • isn't the limit ~$100,000 (or ~$130,00 for a few med, dentist, vet courses)?
      what did you do to get so much HECS debt?
      (or did you study overseas somewhere?

      • -4

        Bsc.

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