If you've been working for any length of time in your present job or with your current employer, you will have picked up a range of skills and knowledge of particular relevance to your job and the enterprise. You may also have been required to undertake a training program (or several) organized by your employer. The skills and knowledge you've gained are no doubt important to your job, and to your employer: but if you were to leave (or lose) your job tomorrow, would another employer recognize and value them?

All too often, finance sector employees in this situation find that the skills they've acquired and the training they've done don't count for much with a potential new employer. The problem is that it's hard to estimate the value of another enterprise's in-house or on-the-job training, and what its relevance might be outside that one organization. Rightly or wrongly, formal qualifications from recognized course providers are usually much more highly regarded.

As Australian Bureau of Statistics (ABS) surveys reveal, there's been a remarkable upgrading of academic qualifications in our industry over the past few years. For example where, in 2001, only 44.4% of the finance sector workforce had a post-secondary qualification, by 2004 the proportion had increased to 60%. And over the same period, the proportion of those with a qualification at Bachelor degree level or higher increased from 26.3% to 32.8%.

It's little wonder then, that there's currently so much interest being shown in career-related education. And it's worth noting that this interest comes not only those lacking a post-secondary qualification - many of those with a qualification recognize that if they don't upgrade it, they'll fall behind.

The situation is complicated by the fact that education has become an industry like any other, with universities and other course providers (both private and public) operating and competing on business lines. In such an environment, the people and organizations involved survive and seek to prosper largely by "selling" their "products" - educational courses - to as many people as they can. This means it's sometimes easier to get into a course than it was previously, but it also means that the potential student, the "buyer", needs to be more discerning, just as if they were in the market for a new (or used!) car.

So, with a great number of educational possibilities out there for people to choose from, the big question is: which is the right one for you? By following the four steps set out here, you'll be better equipped to make the right choice.

1. - Be clear on why you want to study

Before you start looking at courses, you really need to be quite clear about why you're intending to study. What do you want to get out of it?

• To gain a specific skill?

• To up-date your qualification/s?

• To maintain your "employability"

• To change career direction?

• To broaden your career options?

• To boost your confidence?

• For the intellectual challenge?

• To pursue a personal interest?

People study for a variety of different reasons, and there are many, many study options. If you know what you want out of study, it will be easier for you to make the right choices regarding courses, modes of study, and so on. For example, if all you're after is to gain or upgrade your skills in a specific and fairly narrow area, you may find that you can do so by undertaking a single subject rather than a complete course. (Bear in mind, though, that doing a single subject will not add to your formal qualifications. You should, however, receive from the course provider a Statement of Attainment certifying that you have successfully completed the subject.)

2. - Acknowledge the importance of nationally recognized qualifications

There are many factors distinguishing one course from another: subject, cost, quality, academic level, method of delivery, and so on. One factor of increasing importance, but sometimes overlooked by those new to career-related study, is whether or not a course is nationally recognized.

You may find a course that seems to be just what you're after - covering subjects you want to do, affordable, accessible, approved by your employer, and not going to take up too much of your time. But is it a nationally accredited course? Why does it matter?

Nationally accredited courses and qualifications comply with agreed standards within the Australian Qualifications Framework (AQF), and thus are (or should be) understood and recognized by any employer and by any education/training provider. This means that they're both more likely to be acceptable to other employers, and more likely to provide the possibility of entry (and perhaps credit) into another course at a higher academic level.

3. - Check out if your employer might support your study

Many finance sector employers have study assistance programs, designed to encourage staff - sometimes by way of financial support, the provision of study leave, and so on - to upgrade their skills and qualifications. Any support thus provided can be very helpful, as some courses are quite expensive, and balancing the demands of study and work is often a real challenge. But as study assistance programs vary greatly - in terms of the nature and degree of support provided, the courses covered, who may participate, the obligations of participating staff-members, and so on - it is important to check out the details before making any assumptions about your employer supporting your study.

As you'll probably realize, your employer is more likely to motivated by self-interest - what's going to be to the advantage of the company, or the business unit - than by a charitable commitment to the broad intellectual development of the staff. Thus you may find that they'll only support a narrow range of courses directly related to the company's operations - perhaps even courses that have been created just for your company - which are thus less likely to be recognized anywhere else. If this is the case, you'll need to decide how (if at all) these courses fit in with your reasons for studying, and your career plans.

Find out whether your employer's study assistance program comes with strings attached. In the past, at least one finance sector employer demanded the refunding of any financial support they'd provided, if departing staff-members left the company before completing the course they were doing.

And if, after checking everything out, you end up deciding you want to do one of the courses approved or promoted by your employer, don't just assume that because they've supported other members of staff, they'll support you. Be sure to get that commitment - and any conditions that apply - in writing.

4. - Questions to ask of courses and course providers

If you've worked through the issues above, you should be ready to start sifting through all the available courses and their providers. And as you do so, there are a number of questions you should be asking.

• What topics/subjects are covered, and how useful/interesting will they be?

• What are the course's entrance requirements, and will you qualify?

• How long will it take to complete the course? Is there a time limit, and if so, are you going to be able to meet it?

• How much will it cost? Are there any costs beyond the usual subject fees? (Is the same course/qualification available cheaper elsewhere?) How much do you have to pay up-front?

• Does the course delivery method suit you? That is, does it involve classes you will be required to attend, or is it delivered by distance education? If it involves face-to-face classes, are you going to be able to cope with the times and the travel involved?

• What form of assessment is used? Will you be required to sit exams, or write essays, or what?

• What support services are available? Will you have access to teaching staff if you need advice or assistance? (Most students do, at some stage, and it can greatly improve their chances of success.) What about library access, computers, etc?

• Is it a nationally accredited course? What recognition would it receive if you decided to change employers, move interstate, or make some major change of career?

• Can this course serve as a stepping-stone into another course at a higher academic level? Could it serve as a prerequisite, or entitle you to credit transfer (or "advanced standing"), into a higher qualification after you've completed this one?

• Is there a possibility of past work experience, or in-house training, or prior study, counting towards the course you're looking at, through RPL (Recognition of Prior Learning) or credit transfer?

• Will your current employer provide any support - financial, or perhaps in terms of study leave - for you to undertake this course?

• What sort of reputation does the course - and the course provider - have with current or former students?

And finally - some encouraging news

If, having gone through everything above, the prospect of finding a course and taking on study has become just too overwhelming to contemplate, please bear the following points in mind.

The FSU has been providing members with access to career-related education since 1992, and many hundreds have successfully completed courses. Amongst them, we've had students in their late teens, not long out of secondary school, and we've had students who, before they enrolled, hadn't studied for over 35 years, when they left school at Year 10 level. And if they could do it, so - presumably - could you.