Many students in today’s education field graduate college in heavy debt. It’s the harsh reality of the education system, but one that’s necessary for a lot of people if they want to earn a college degree. Thankfully, things are turning around economically, and more recent grads are finding employment in their field of study. A lot of college grads opt to delay their entry into the workforce however, and instead enroll in graduate school. Grad school isn’t the right choice for everybody, but for many it’s a good option to consider when deciding whether to further your education or enter the workforce. Check out these things to consider when deciding if you should apply to graduate school, or enter the workforce after earning your undergraduate degree.
One of the biggest factors in your decision whether or not to attend grad school should be what it costs. If you thought that an undergraduate degree was expensive, wait until you see the costs for a graduate degree! Of course, there are alternative options for grad school like online graduate school, which tend to be more affordable. If you paid for your entire undergraduate degree with student loans, it might be unwise to attend grad school directly after earning your undergraduate degree. Many employers will subsidize the cost of graduate school if you’ve been working with them for a while, so waiting to go back to grad school might save you thousands of dollars on tuition. Plus, you might even have a better shot at getting in to the graduate program that you want to since you’ll have some real life work experience and recommendations.
Getting a fantastic education is important and great, but if it doesn’t translate in to a job then there is little point to spending thousands of dollars and dedicating years of your time to a graduate degree. But, if that education can translate in to real life success in the workforce, it may be something to consider. Thirty-six percent of MBA candidates hadn’t found work just a few months prior to graduation. That’s a high percentage, but compared to what that number was a few years ago, it’s stellar. On the other hand, the graduates who are able to find work end up making a lot more than their undergraduate counterparts; the median annual salary plus bonus for a person fresh out of grad school with an MBA is $105,000.
Graduate school takes a lot of time, time that many people might not have. While the alternatives like online grad school are a great choice for people without a ton of time, sitting in a classroom and dedicating all of your free time to studying is essentially a full time job and then some. Some people simply don’t have the time for grad school, whether that’s short term time or long term. If you’ve got the time and the patience for grad school, it’s definitely something to consider.
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