Should you go to grad school? 3 considerations to help you decide

Should you go to grad school? 3 considerations to help you decide

(Jaren Wilkey/BYU)


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There are many considerations to take into account if you are debating whether or not to pursue a graduate degree. Graduate school, in many ways, is an investment in oneself. In an effort to help those interested in a master's or a doctoral degree, here are three things to consider before you go down that road.

Cost vs. Benefits

In 2012, Pew Research Center explored the value of a post-bachelor degree and found that on average, "median monthly earnings for young adults with master's degrees were 24 percent higher than for those with bachelor's degrees."

There are, undoubtedly, variables in this equation though. The degree one chooses to pursue has a tremendous effect on their ROI for a graduate degree. For example, the United States Census found that among those who pursued a graduate degree in liberal arts, the mean monthly salary was $5,741 dollars while the mean monthly salary for those who obtained a master's in business was $8,849 dollars. With more than a three thousand dollar gap between the two majors, the degree you choose definitely carries weight in this decision.

You may find a significant cost difference between universities of interest. While it is vital to consider where you can obtain the best education, it is also important to explore the schools where you can get the best "bang for your buck."

The average cost of a year of graduate school is nearly $30,000 while the cost at a private school is nearly $40,000. However, scholarships or tuition targeted toward a specific demographic can make this much more affordable.

For example, [tuition](<http://www.ksl.com/ad_logger/ad_logger.php?location=https://graduatestudies.byu.edu/content/costs-financial-aid& sponsor=gradstudies>) is approximately $6,310 each year at Brigham Young University for graduate students who are members of The Church of Jesus Christ of Latter-day Saints. Some companies also offer to pay a portion of their employee's tuition.

Photo credit: Steve Walters/BYU
Photo credit: Steve Walters/BYU

Mentorship

While finances are no doubt important, it is also important to consider other opportunities that are found in the pursuit of a graduate degree. Master's and PhD programs are focused on preparing you to contribute knowledge to your chosen field. These grad programs seek to provide you with opportunities to network and learn from those who have achieved success within the field of study.

You will become comfortable working with these mentors and they will provide guidance and advice as you transition from the classroom to the professional world.

Photo credit: Mark A. Philbrick/BYU Photo
Photo credit: Mark A. Philbrick/BYU Photo

Develop critical thinking skills

An article from the University of Texas's Dr. Richard Harris explains a problem currently plaguing traditional education: an inability to think critically.

"The first goal of education, 'what to think,' is so traditionally obvious that instructors and students may focus all their energies and efforts on that task and find that this goal alone is so overwhelming that they have time for little else.," Dr. Harris said. "On the other hand, the second goal of education, 'how to think' or critical thinking, is often so subtle that instructors fail to include it and students fail to realize its absence."

For whatever reason, graduate school has remained seemingly unscathed from this issue, continually focusing on providing real-world solutions to real-world problems.

In your undergraduate classes, you likely studied from a textbook. Graduate school will teach you to lift your eyes to see the world around you.

These three reasons should assist you as you evaluate whether or not graduate school is for you. When all is said and done, the important thing is that you consider what will make you happy.

If your highest priority is to provide a comfortable living for your family, your personal situation could be improved by obtaining a graduate degree.

If meeting your goals and reaching your dreams requires an advanced degree, you may face a decision of whether to follow your passion or fall back on other life plans. There is no doubt that this decision is yours for the making but it is also definitely one worth considering.

For more information on affordable and compelling master's and PhD programs, visit Brigham Young University – Graduate Studies at graduatestudies.byu.edu.

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