How should I think about my private sector options?

Evaluating the options available to you outside the military can be a useful approach in determining whether exiting makes the most sense for you individually. However, before diving straight into such an evaluation, I’d strongly recommend that you take the time to understand what it is you’re hoping to find on the outside. You don’t necessarily have to “know what you want to be when you grow up” to know what sort of environment you generally thrive in, from where and how you derive meaning from your work, and how you hope to define work/life balance in the future. Maybe the answers to those questions suggest staying in the military. But regardless of the outcome, running through an analysis of that sort will help you evaluate all the options available to you in a meaningful manner, and will give you confidence in whatever decision you ultimately make.

While there are literally hundreds of things you could do with your life should you decide to exit the military (travel the world, live in a foreign country for a period of time, get involved in politics, etc.), I will focus on the two most prevalent options that military officers tend to pursue: going straight to work or going to graduate school.

Option 1: Get to work
For many military folks, this is the first option that comes to mind. You’ve gotten used to having a steady paycheck for some time, and the thought of that going away can be extremely unsettling. If going straight into the workforce is something you’re considering, evaluate all of the possible ways to do that before committing yourself to any one of them.

Recruiting Firm. More than likely, you’ve already been contacted by at least one of the recruiting firms that exist to help place junior military officers and accomplished NCOs with one of their partner companies. They are good at what they do and present their opportunities in a very compelling manner. I have plenty of friends who have worked with these firms and ended up very happy with both their companies and their initial positions. But do be aware that you are limiting yourself to the companies that your recruiter of choice serves. Furthermore, many of the locations for which these companies are hiring are not the most ideal. I’m not suggesting that these are inherently bad things, but they are what they are and you should be aware of them. JMO recruiters are a means to get onto a new and well defined career track; they are not necessarily a means for you to attain a specific career goal or always the best way to maximize your individual skill sets.

Individual Networked Search. For many who are considering career paths outside of those typically available through a recruiter, or who want a guarantee with regards to location or industry, an individual networked job search may be the best option. When I was in the Army, the word “networking” had a hugely negative connotation. However, getting out and talking to people who work at or know people who work at an organization you’re targeting should not be looked down upon. So long as you present yourself in a professional manner and go in with a plan, you could very well end up with the job you want in the city of your choice. LinkedIn and your undergrad alumni directory can be extremely useful tools in helping you get started down this path; however, my best advice is to reach out to veterans working at the organizations in which you’re interested. For people like us, the veteran network is probably the easiest way to gain an introduction or get one’s foot in the door. Veterans are literally everywhere and are almost always willing to make time for and help out other vets.

Entrepreneurial Venture. Have an idea? If yes, spend the time evaluating whether and how you should attempt to commercialize it. The crazy thing about good business ideas is that almost every single one of them is disguised in overalls and looks like work. Yet, the world is ripe with people who’ve been able to build wildly successful businesses without a fraction of the experience you have under your belt. With some research, a lot of networking, and an unyielding commitment to seeing it through, you could very well become a successful entrepreneur. Short on ideas? There are plenty of fantastic franchise opportunities out there that will enable you to also work for yourself. Everything from Subway Restaurants to CrossFit gyms are available should you be interested and convinced that a local market need exists.

Option 2: Go back to school.

When I first started thinking about what to do after the Army, returning to school as a full-time student wasn’t even on my radar screen. Being married with (at the time) one child seemed to necessitate that I go out and get a job. However, there are significant advantages to investing in yourself by going back to school to earn a graduate degree.

First, graduate degrees tend to substantially widen the career opportunities available to you. The new body of knowledge you learn and the skills you develop while in grad school augment your leadership experience nicely and open doors that otherwise might remain closed (real estate, hedge funds, etc.).

Second, the pursuit of a graduate degree provides you with the time to really think about your future, experiment with different ideas, and assess multiple opportunities. In essence, it allows you to delay the big career decision while you gather more and better data.

Third, the two or three years spent back in school will allow you to dramatically expand your network. Developing friendships with talented, successful, and ambitious people can pay dividends in a number of ways throughout a career, and graduate school can certainly help you in building out that network.

Finally, compensation packages (base salary, bonuses, options, etc.) immediately out of top graduate programs tend to be much higher than what one could expect to receive in a corporate role right out of the military. This is due largely to the fact that the level at which you enter an organization out of grad school is higher than the level you’d enter coming straight out of the military. This also tends to have trajectory implications in terms of what roles you can likely attain within certain time frames.

But as I mentioned above, this option is at its root level an investment. Graduate degrees from top institutions are expensive, both in terms of real cost (tuition, living expenses, etc.) as well as opportunity cost (foregone salary for the 2-3 years while you’re in school). Thus, it’s important that you spend time considering the program and schools that will not only satisfy your personal goals and objectives, but will also provide you with a commensurate return on your collective investment (monetary, time, effort, etc.).
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In conclusion, you owe it to yourself to investigate each of your options with due diligence. While few things in capitalist societies are ever set in stone, the inertia required to make a dramatic mid-course career adjustment can be substantial. Getting it right the first time really is worth it.