Wish i had a backup degree, on the contrary, they're often not practical for someone to get. I once pursued a double major (aviation/automotive design) but got out for the sake of graduating. Luckily, my aviation degree has helped to find me other work, and i might have found myself struggling with the automotive degree in the current climate, not to mention how competitive it is for jobs in that sector. A degree in something that's really grounded is typically a good bet, or, training in something that will be needed in the future; Teachers, nurses, etc.

Because of my situation (being at Trans States) i can say that I wasn't interested in an alter ego type operation. (i'll leave the flaming aside, don't want to destroy this thread) However, each situation is different. I didn't start looking for another job when I heard they might be furloughing, instead, i began looking well before that, when things seemed like they MIGHT get rough around here. On advice from my wife, i interviewed with the company (last year) even though i was still flying from the captains seat, and would be looking at a pay cut to make the move. Honestly, I'm lucky that i began looking at things so far out, cause if it I hadn't, I'd would have found myself commuting to a far away base, with everyone else, being on reserve, and supporting the family on FO pay. Each situation is different, but my advice would be to always keep your options and your sights open.

Also, if you don't think you can find another job because you have a degree in aviation (which we've all come to think of as useless), then you need to dig deeper into your job responsibilities at work. Also, take a look at Sully's resume, (it was posted somewhere) many of us could use many of his same descriptors to define our job experience in our own aviation careers. Don't sell yourselves short.