Should I go to graduate school?

Like most questions in the world, the answer to should you go to graduate school is, “It depends.” It depends on what your career goals are…your ability…your commitment …and your finances. Let’s look at each of these items separately.

Career Goals

While a bachelor’s degree is sufficient for most professional positions, there are many careers that require a minimum of a master’s degree and many of the companies who hire for these positions prefer a PhD. The following fields normally require an advanced degree:
• Any Type of scientific or technical research
• Physical, Occupational Therapist
• Teaching (school’s that do not offer a degree higher than a bachelor’s degree)
• Hydrologist
• Audiologist
• Curriculum Specialists
• Psychologist and Mental Health Counselors
• Educational, Vocational, and School Counselors
• Political Scientists
• Urban and Regional Planners
• Sociologists
• Music Directors
• Doctor (must be licensed)
• Lawyer (must pass the state bar exam)
• College Professor (minimum of PhD required)

So if you are interested in any of these careers then you need to go to graduate school.

Ability

Most graduate schools require a minimum of a 3.0 average to graduate. Many also require at least a 3.33 average to qualify for any type of financial assistance like being employed as a teaching assistant. If you did not meet these grade requirements as an undergraduate, your chances of being able to do it as a graduate student are poor because tutoring and other academic assistance are not usually available in graduate school.

Commitment

Graduate school requires a lot of commitment. While you will attend classes, most of your work is solitary and you will need to be able to carry out a project from beginning to end without assistance. Graduate school builds on what you learned as an undergraduate to help you develop expertise in a specific area.

Finances

Graduate school is expensive. An MBA at a top school can cost $90,000. Requirements include anywhere from 24 to 40 credit hours with a cost ranging from $1,000 to $5,000 per credit hour for tuition plus books and lab fees. While you can borrow most of the tuition and repay it after graduation, you must be able to support yourself while you are in school.

Attending Graduate School

If you do decide to go to graduate school, the next question is, “Should you go directly or get a job and go later?” There are pros and cons to both choices. Let’s examine them.

Go Directly to Graduate School

There are several advantages:
• You may already have a deferred student loan so it will be easier to extend that loan or get a new one
• You are “school mode” and will not have to readjust you life to accommodate going to school
• You probably have fewer obligations…financial…family, etc than you will in five or 10 years.

The primary disadvantage is how long it will take you to repay all of your loans after graduation. It can take decades. For example if you borrowed $20,000 as an undergraduate and $40,000 as a graduate student, you will have to pay back $60,000 plus interest. That’s like having a second mortgage.

Work a While and then Go to Graduate School

There are several advantages such as:
• Working for a while can help you decide what area you want to specialize in
• Your job experience will make you class work easier and offer you opportunities to apply what you are learning at work
• Your job experience can help you decide on a thesis topic or a research project because you will know what problems are facing your industry
• If your company has tuition reimbursement, you can either save money or even get your education free

The primary disadvantage is the fact that everyone in your life will have to make sacrifices so that you can attend school. A full time job and graduate school part time leave almost no time for family and friends. If you are married or have children, your family needs to understand that you won’t be available for them for the two years it will take you to graduate.