Whether it crosses your mind while you are still an undergrad or after you are years out of college, almost every college graduate contemplates going to graduate school. Whether it’s law school to get a jd or a phd program in sociology, the idea of having an advanced degree is something that many seriously consider.
How can you avoid going to graduate school “just to go?” What are good reasons to go to grad school?
Here are some of the better reasons to go to grad school:
1. You need an advanced degree for your field of work
There are a number of careers, such as a lawyer, doctor, or psychiatrist that you simply are not qualified for unless you get an advanced degree. Imagine if someone was performing a surgery on you and all they had was an undergrad degree. Would you go under the knife knowing that?
Usually the decision to go to grad school isn’t this straightforward, but if you know you want to be a lawyer then you essentially have to go to grad school.
This leads me to my next good reason to go to grad school…
2. You want to work in academia
If you want to get into academia, you will have to go to graduate school. If you really have a passion for a subject, becoming a professor could easily be the most fulfilling job for you. If conducting research, teaching students, and really diving into your subject matter sounds appealing to you, a masters (and possibly a phd) is a no-brainer.
The one thing to keep in mind about academia is that it is highly competitive. For example, psychology phd programs take a very tiny percentage of applicants. For their psychology phd program, the University of Hawaii (not even a top-tier university) took only x out of xxx applicants last year. Once you are done with the phd program, you have to compete for a limited number of jobs against other phds.
3. You hit a ceiling in your career
I have only been out of college for a little over a year and a half and I have already seen how some people hit ceilings fairly early in their careers. The higher up the totem pole you get, the lower the number of positions that you qualify for. It gets competitive fairly quickly.
A graduate degree can set your resume apart in this competitive environment. The ideal combination is experience, background knowledge, and an advanced degree. To a certain extent, certifications can replace graduate degrees. If you are a CPA sometimes that puts you on the same level as someone with an MBA on their resume. But if you have certifications AND an advanced degree, it can really set you apart.
4. You want to switch careers
Let’s say you are an accountant but want to get into marketing. What is an easy way to switch to that field? One way would be to get an MBA with a focus on marketing and then move into that career field. Same goes for operations, finance, or any other field you are not currently working in but would like to get into.
While it may not be easy to get into ANY graduate program (imagine trying to get into a political science phd program without a political science undergrad degree) there are a number of options available if you are looking for a career change. Some may include graduate school, some may not. Don’t count out grad school, though, until you have looked into the options available to you, and definitely do not stay in a career path you are not happy with.
What do you think is the best reason to go to grad school? Are there any reasons that I missed?
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Photo by Will Hart
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Well, the best reason is not because you generally think it will help you get a job. I’m one of those people who probably won’t use his degree directly. Make sure you know what you will be using the degree for before going to grad school.
@The Retired Landlord I would agree with that. I do think a good reason is that you can make more money (i.e. “break” the ceiling your career hit).
I found another excellent reason to get my Master’s Degree; my employer paid for it!! My employer has a 100% tuition reimbursement program. The only requirement was to maintain a “B” or better average. You’re a fool if your employer offers such a program and you’re not taking advantage of it. Free higher education??? Absolutely!
@DebtKiller Lucky you.
@DebtKiller That’s incredible! My employer pays some money, but not much. If they were going to pay 100% for it I would be pretty much sold on getting my MBA.
I had to continue past undergrad for my career, and my husband is on his second master’s now. It is really the only way to advance in education. They have both been very rewarding for us. Be careful on the costs. Some online degrees are way expensive. It might be better to do them through an actual university if you can.
@Eyesonthedollar I’m wary(that’s the word, right?) of online degrees. I don’t think I would do it. Regardless of what people say, it’s still viewed as less prestigious and “easier” than a physical university.
DebtKiller beat me to it! I think people need to do a serious cost/benefit analysis before grad school. I’ve had a few clients go who got no real return for their money.
That said, you’re right on. My wife has an advanced degree and could have never gone into her profession without it. It’s also paid dividends.
@AverageJoeMoney My wife is going to need at least a masters for her field, so she is definitely going to grad school.
My friend and I are debating about whether an MBA is worth it. We are both pretty ambitious so in corporate America we will likely hit a ceiling somewhere down the road (I definitely will since I can’t sit for the CPA). For now I’m leaning towards no…tough choice tho.
If it will further your career enough to justify the cost I say go for it. I don’t see it changing my career in anyway as I already have a CPA license and that seems to be the Gold Standard in accounting.
@Money Life and More I’m also an accountant and the only thing that worries me is how easy it is to outsource (and it will only get easier…I can’t imagine 20 years from now). People in India who have a masters in accounting get paid $24k a year. I’ve been training people from India all week, and I don’t see how it won’t become a bigger trend, especially hard to imagine what it will be like when I’m in my 40s.
This is a great piece. Grad school should be a no-brainer but there are numerous reasons one can find to go. We talk about it a bit more over at http://www.thinkgradschool.com