This article by student ambassador Taylor Garner '20 offers a look at the factors you should weigh if you are considering pursuing a graduate degree.
By Taylor Garner ’20, student ambassador
First and foremost, choose a graduate program that is right for you. One of the most significant factors to weigh when making this decision is your end goal. Whether you plan to gain a master’s degree, a doctorate, a professorship, or to improve your credentials in the workforce. Here are some things you may want to consider:
A graduate degree may not be the right choice for you if:
- want to impress people, or your parents want you to go,
- you don’t have a job, and you don’t want to go into the labor force,
- you’re curious about a specific field or
- you don’t want your fond college days to come to an end.
René Jackson, associate director for graduate school programs, mentioned in a recent article: “The reality today is that graduate school is too expensive an undertaking to use it as a period of career exploration. It’s not the place to ‘figure things out.’”
Another consideration is the financial burden of higher education. Harvard Business Journal mentions that it is difficult to foresee the return on investment for specific programs. Even if a graduate degree boosts your salary, it may not materialize in the short run.
For those considering graduate school, do your research. Weigh your options before jumping in. It may pay off. Many schools have research or teaching assistantships that offer stipends. If you want to bolster your position in a company, see if it will pay for some of the costs. In the long run, it benefits both you and the company. Use this calculator to estimate the return on the investment.
A graduate degree may be the right choice for you if your goals sound like these
· career enhancement
· financial reward
· required for a field or company
· to make strategic connections
· to increase your knowledge and improve your work
· to Increase your options
Additional Media
As the number of undergraduate students continues to rise, the more an undergraduate degree will be devalued. Findings provided by the Harvard Business Journal suggest that 27 percent of employers now require a graduate degree, and the jobs most in-demand require a master’s degree.
Though it seems unfair that you must continue going to school to achieve that dream job, a financial payoff may be an added incentive. Northeastern University reported people with graduate degrees to make $2.7 million over their lifetime, and those with a doctorate make $3.3 million. At the end of the day, if it is indeed a field that you are passionate about, it will also have a personal payoff.
But should you go to graduate school right away or work for a couple of years first? It depends. The Princeton Review helped enlighten these options.
Reasons to start right away
· The sooner you begin, the sooner you finish
· You also still have the momentum from being an undergrad student
· Gaining theoretical experience in the classroom is beneficial because you can use that knowledge to improve your job function in the workforce
Reasons to gain some professional experience first
· You may not have the credentials or expertise to undertake a graduate degree
· Starting too soon may mean you won’t finish (getting burnt out)
· Knowledge can help solidify your interests and justify the graduate degree
The Princeton Review also recommends looking at the requirements for the job you desire. Then, use LinkedIn to find employees who have your dream job and discover the steps they took to get there. Remember, there’s always more than one path!
In my next article, I will explore graduate school exams, i.e., LSAT, MCAT, GMAT, GRE, conducting research, and managing the application process.