Entering grad school is intimidating. You may have been evaluating if grad school is for you. Should you consider pursuing a graduate program? Will it be worth the investment? Is it aligned with your long term personal and professional goals?
Here, we weigh the pros and cons of entering grad school and attaining a graduate degree. Let’s get right to it:
Pros
1.) A graduate degree is more marketable than an undergrad
It’s general knowledge post-graduate degree holders get paid more than their bachelor’s degree counterparts, regardless of the shape of the economy. And as of last year, companies have opted to hire those with master’s degrees. About 75% of businesses have considered hiring those with MBAs and over a third were more than willing to employ those with master’s in accounting and finance, according to the 2014 Corporate Recruiters Survey.
2.) Provides real-world learning that beefs up your credentials
Graduate programs are pragmatic in nature. Instead of merely memorizing concepts, those in grad school would actually be learning more about a field they are already interested and invested in (it just wouldn’t make any sense to take up a post-grad course on comparative literature when you’re already engaged in manufacturing, unless you’re contemplating a major career shift). Grad school help you further learn and upgrade skills you need to augment to improve your chances of progressing further in your field.
3.) The return on investment is high
U.S. workers with graduate degrees earn about $55,242 annually. That’s a lot compared to the $42,877 earned by those with bachelor’s degrees. You could earn that much once you finally get to wear your academic regalia for your master’s or doctorate degree.
Cons
1.) Grad school costs a lot of money
Two years worth of money spent on grad school is equivalent to two years earned working full-time. You may find this impractical, considering you could have spent that time earning instead of spending.
2.) You might be overqualified and under-experienced
Having a graduate degree boosts your qualification, but it doesn’t necessarily mean that you’ve garnered enough experience for a specific job. Companies are very particular when it comes to experience, regardless of what degree you have.
3.) It is time consuming
You’d have to sacrifice your social life. On average, the ages of those in grad school range from about 26-32 years old. Being in your twenties, you’d have a lot of catching up to do. It is advantageous for those who enter grad school in their forties as they no longer live the lifestyle of a typical twenty-something.
Have you decided to pursue your graduate studies? If so, then go forth and grab the opportunity.