Why Graduate School?
Deciding between graduate school and going straight into the workforce has become a major decision for many recent college graduates. Factors such as lifestyle, career field, cost, and time management all play important roles in this decision. Grad school can be a fruitful and fulfilling experience, but it’s not right for everyone, and you don’t necessarily have to go right now. Here are a few tips to help you with your decision.
Graduate School is NOT “College: The Sequel”
For millions of Americans, college can be an amazing time. It’s probably safe to say that the majority of college students don’t want it to ever end. But it does. Don’t make the common mistake of thinking that staying on for a Master’s degree will buy you an extra year or two of undergrad-style good times.
Graduate degrees are rigorous and difficult, which is why graduate students tend to be more focused and less interested in partying: they have more work to do. This is not to say that graduate school would be the end of your social life, just that the increased workload will make for a change from your undergrad years. There are tons of good reasons for continuing your higher education; hanging around campus isn’t one of them.
Do You Need a Graduate Degree for your Chosen Career?
For many career choices, a graduate degree is essential; for others, it helps a lot. For some occupations, though, a graduate degree might be unnecessary, and your undergraduate degree might stand you in good stead. It is important to do the necessary research before you enroll in order to figure out what a Master’s degree will mean in your field.
For example, physician’s assistants must complete a Bachelor’s degree, MBAs are generally well-regarded in the business world (but not mandatory), and nurses typically only complete a Master’s degree if they want to move on to higher responsibilities after their RN and BSN. Whatever career you intend to pursue, chances are a graduate degree will be valuable, but you need to make sure it’s worth your time.
Don’t Let Expenses Be a Factor
We know: this sounds crazy. Of course expenses matter. But they shouldn’t be a factor in your decision about graduate school. The excellent financial aid options available to you-graduate students can qualify for military funding, loans, grants, scholarships, and fellowships-mean that you should make your decision independent of the short-term financial cost. If it makes career sense for you to obtain a graduate degree, chances are it will pay for itself in the long term.
The Census Bureau estimates that a Master’s Degree is worth $400,000 more than a Bachelor’s over an average career, although of course for certain careers it will be worth more or less than that. The point is that postgraduate degrees usually more than pay for themselves. If it makes sense to go back to school for professional reasons, don’t let tuition scare you away.
The Many Ways to Complete a Graduate Degree
Similarly, don’t let time commitment issues get in the way. A variety of options are available for prospective graduate students: part-time and full-time; online, on campus, or mixed. If you need to work while (or before) completing a Master’s degree, don’t feel that this diminishes its value in any way.
In fact, many postgraduate degrees are tied more directly to “real world” skills and knowledge, and some even require students to gain practical experience by working or interning while they study. Particular fields will vary, of course, but the point is that time-like money-is no excuse for putting off graduate school if it makes professional sense to do it now.
When Taking a Break Makes Sense
Remember that for certain careers, a few years of practical work experience before graduate school can be an important qualification. In particular, MBA programs often prefer students with substantial business experience. Also, keep in mind that the workload in graduate school will be intense.
If you are feeling burned out after several hard years of college, it might be worth taking a few years off so that you can be prepared for and committed to the rigors of a graduate program. When you do feel ready to go back, don’t worry too much about age; whatever you study and whenever you go, you will find people of all ages and backgrounds at graduate school, which is one of the many reasons it can be such a worthwhile experience.
When Graduate School Isn’t the Best Option
You should realize that for many people, no matter how alluring it is, graduate school probably isn’t a good idea. If you already have loans leftover from your undergraduate degree, and are reluctant to take on more, you might consider holding back. You might also have personal or professional commitments that prevent you from going: remember, the level and volume of work will be significantly higher than what was required for your undergraduate degree, and if you can’t devote your full energy towards graduate school right now, you probably shouldn’t go.
Finally, if you are considering a career in an industry where graduate training isn’t a significant advantage-in, for example, journalism-your time and energy might be better used on opportunities outside of higher education.
The Bottom Line
As more and more students receive undergraduate degrees, graduate degrees will naturally become increasingly important. In job searches, a graduate degree from a quality institution will often help a particular candidate to stand out from the pack. In the final consideration, then, the choice recent graduates face between earning a graduate degree and entering the “real world” is a little misleading: either way, the real world is coming.
The decision you have to make is about positioning yourself to be the most competitive and skilled employee you can be. Often, a graduate degree can be a vital step in that direction.
