A former graduate school admissions officer shares her view on the value of a graduate degree.

The Grad School Trap: When Not to Go For a Graduate Degree

The Grad School Trap: When Not to Go For a Graduate Degree

I was dining out with a friend when she looked up and said seven words that I dread to hear: “I’m going to apply for grad school.”

 

Don’t get me wrong – I’m not anti-grad school. I could never be against bettering oneself with education. However, after four-plus years working in the admissions office of a master’s program, I see things a bit differently.

 

True, I’ve seen students get in, study hard, get a great job, and make bank.

 

But I've also watched others struggle to find a job – any job – all while steeped in more debt than ever.Click To Tweet

 

So as I put my fork down and looked my friend in the eye, I asked the only question I could think of: “Why?”

 

Another Paper On The Wall

My friend struggled to explain her situation. She was frustrated – she wasn’t going anywhere at her job, and she wasn’t making the income she had imagined. Surely grad school would lead to bigger success.

 

Lin S., a former student in the program I worked for, once felt the same way. She entered grad school eager to learn and become the professional that she had always imagined herself as. That was, until one day when she emailed me dismayed. Lin had $80,000 in debt and a job as a waitress. She asked me if she was alone – if she was doing something wrong, since she couldn’t live up to that grad school promise. She wasn’t.

 

The idea that your bachelor’s degree isn’t enough has taken over an entire generation. Too many people have sunken themselves into more student loans, more frustration, and more dinners with friends where they decide to change their lives via master’s degree.

 

TAKE ACTION

Instead of putting yourself into more debt for something that may not guarantee you a better job, look for ways to gain extra income now and put towards your debt. Work a side hustle or negotiate for a higher salary.

You can also look for ways to make your debt repayments easier to handle, like opting for a different repayment plan or refinancing your loans.

 

A graduate degree is just another paper on the wall – another line on your resume. Sure, for some jobs, it’s essential to have a master’s at the ground level. But for most, it’s just a boost up.

 

A graduate degree won’t land you a job or get your big idea funded. It won’t convince your boss to finally give you that promotion. Graduate degrees will help you knock on some more doors with confidence, but it certainly won’t open them. That work is all yours.

 

Another Way Around

As I gently laid out my reasons and told her the cautionary tale of Lin S., my friend asked me what she should do instead. I encouraged her to consider a few alternatives:

 

1. Take a certificate program.

They’re low-cost, low-time-commitment, and a great way to place yourself in a specialized field. Ellen Myers, a former graduate advisor, suggests certificate options for those in specialized fields such as nursing, computer science and security, business management (non-MBA), or engineering where advancements in the field mean you may need to constantly up your education to stay ahead.

 

Myers estimates that the certificates may result in a $5 to $10 thousand return on salary, depending on the field.

 

2. Talk to your manager.

If she isn’t on board with you going back to school, that may be because it isn’t necessary for your job. Instead, ask if the company offers training programs that can help you advance faster.

 

3. Find a mentor in your new field.

If you’re going to grad school to switch your career, you need to be 100 percent sure about that switch. Browse Facebook for those working in your desired position, attend networking meetings or conferences, send cold emails, and so on. You may be surprised to find that the grass isn’t always greener on the other side.

 

Grad school can work – it should work. But going for that degree without giving consideration to the cost of the program versus the actual job opportunities – or to the alternative routes available – can result in many wasted years and a hefty financial burden. Before filling out that application, ask yourself if grad school is really the answer for you.

 

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