Have you been considering the idea of graduate school?
For the past six months or so, I’ve been discussing the idea of graduate school with my cousin Damian. He wasn’t sure of what to do at first. As time went on, he got more interested in graduate school. He eventually ended up applying for graduate school and getting accepted.
I’ve covered the idea of what to do after college extensively on here. There are many choices that you have to make when you get out of college. You have to decide what you plan on doing for work. You have to decide where you plan on living. You also have to decide if you’re going to go for more education.
Today I’m going to present you with the argument for attending graduate school that I picked up from Damian.
What are the main benefits of attending graduate school? Is it worth applying to graduate school?
A requirement in your field.
In some fields you need to pursue further education just to get your foot in the door. This is common in the Accounting field and many other areas. If your field of study requires education post-undergraduate and you want to work in the field, then you really need to get yourself into gear. You also already know that graduate school is needed, so I don’t need to stress the benefits to you.
Move up the ranks in your company.
In some companies you simply need to increase the credentials on your resume to move up the ranks. I was chatting with a buddy who told me that for him to move into management, he needs to go back to school for his MBA. You won’t need more education in every company, but in most places of employment you can really benefit from acquiring more education.
This ties into the next point…
Increase your income.
Would you want to increase your income by thousands of dollars per year? Would you be willing to study more to do this? When you move up the ranks in your company, your income is going to move up with you. Do you want to be at the same level forever? I doubt it. You more than likely want to move up, increase your income, and increase your worth to the company.
I could present you with stats and charts, but the truth is that graduate school won’t always increase your income. The good news is that you’ll know if graduate school is worth it in your company or in another firm, based on looking at the requirements for that more lucrative position that you want to hold in a few years.
“I looked for jobs a few weeks ago just for fun and I almost cried,” Damian told me about the current job market for those with an undergraduate degree in his field. If you want to make more money in your field, you might have to go back to school.
Expand your knowledge.
Graduate school is great for research opportunities. You’ll do an insane amount of research and learn more information. You’ll expand your knowledge and be more educated on your topic of choice. This will also look good on your resume in the future.
Take time to figure out what’s next.
According to an interesting article I read on education over at the NY Times Blog, I learned that many young people chose to stay in school to wait out the storm that came with the economic crash in late-2008. Graduate school was an opportunity for them to stay in school while they figured out what was going to happen next.
If your college offers graduate school at a decent cost or if it’s free (technically) then you can take this time to figure out what you want to do next. My cousin Matt is currently doing this. He’s working towards his graduate degree in Engineering. It’s also not costing him a penny because he’s getting paid to do research. He’s using the time to decide what he wants to do next and to work on other projects that he’s interested in.
If you don’t want to stress about finding work after college in a slow economy, you could choose to travel the world, try to start your own business, or stay in school for a bit longer. The good news is that these days you can study online. You can earn an Online MBA in Michigan or whatever other school you choose to apply to.
Those are the main reasons behind applying to graduate school. What you decide is ultimately up to you and what you want to get out of life. Graduate school isn’t for everyone. If you decide to pursue a higher education then I wan to wish you all the best!