Things to Consider When Deciding on Graduate School
Attending graduate school takes a major commitment of time and money. It's a decision not to take lightly. Graduate school requires a one- to three-year commitment to intense work and research; it is usually much more demanding than an undergraduate degree program. To help you make a decision that works for you, honestly answer these five questions.
Why are you considering a graduate degree?
Career Goal
Clarify your career goals and choose a graduate program that aligns with those goals. If you are not clear on your professional aspirations, work on self-assessment and career planning first. Then choose a graduate program that will help you to achieve your goals.
Compensation
With the downturn in the economy, we cannot be sure salaries are higher today. In some instances, people actually made more 10 years ago!
People who achieve an advanced degree earn, on average, more than people with a bachelor's degree. According to the U.S. Census Bureau, in 2000, the average worker with a bachelor's degree earned $52,200, while a worker with a master's degree earned $62,300, and a worker with a doctorate earned $89,400. (Salaries may vary today; however, the key is the difference in salary by education level.)
Stay Marketable
While a graduate degree is not required for many "entry-level" jobs, employers are looking for employees who have taken the initiative to sharpen their skill set in a competitive environment. An advanced degree also makes you more marketable for career advancement.
Career Change
For a job-seeker looking to make a career change, a graduate degree can provide you with a competitive edge. In this case, you would consider a graduate degree in the field you plan to enter.
When is the best time to consider obtaining a graduate degree?
This question is often debated. The answer is "it depends." For some, it makes sense to attend graduate school right after completing an undergraduate program. Others prefer to gain work/life experience before entering graduate school. Whichever is best for you, going to graduate school should align with your personal and career goals. It should not be a "default" move or a strategy to avoid getting a job.
The reasons for working for a few years before going to graduate school:
- You can better know your career goals by working in the field for a few years
- Some graduate programs require work experience
- You bring a broader world view to your studies
- You have a more mature outlook on school and work
- Many employers will pay some or all of your graduate school expenses
- You can gain solid financial footing
- You can improve your chances for acceptance to graduate programs, especially if you were not the best student in your undergraduate program
