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Sunday, August 01, 2010
School Daze
Graduate school or job-hunting? Hint: the answer should not come too easily.
For many recently minted college graduates, going back to school for another degree seems like a great way to sidestep the weak job market. But without a clear purpose and plan, pursuing an advanced degree can leave students in a worse position when they do enter the workforce.
"I certainly understand why people would automatically think that way that going to school is good way to spend time but I don't know it's always in the best interest of the student," says Barbara Cooke, author of "Parent's Guide to College and Careers: How to Help, Not Hover," (Jist Works, 2010). "To have it be an automatic waiting place until the economy gets better may not really help you get ahead."
According to the Graduate Management Admissions Counsel's Application Trends survey, graduate applications have risen in recent years, with more than half of programs experiencing upward trends in 2009. Applications for one-year full MBA programs rose almost 70 percent, while Master of Accounting programs stood out for their 80 percent rise. And with the job market still weak, Cooke says graduate school is becoming more of a default in the minds of parents and students.
At best, another degree may be the bridge needed to obtain gainful, satisfying employment through targeted advanced training and knowledge. At the worst, it may just put a student deeper in debt while still facing unemployment later. "A Masters degree is going to be $25,000 to $35,000 or more," Cooke says. "Parents and students need to put as much thought, research and homework into that as they would for any other investment."
According to Carol Robinson, a career advisor at Virginia Tech's Career Services, each student needs to conduct an individual assessment before beginning the application process. Make a list of interests, skills and goals; then think specifically how another degree might help. "If you end up in a field and aren't sure what that graduate degree will do for you, it may not be the best use of your resources," Robinson says.
Research the industry and prospective employers. While some professions require advanced training, others favor actual workplace experience. Cooke says the best way to determine the next step is to ask professionals about their own career paths and ask employers what they prefer.
"Students need to know if their assumption that grad school will make them more attractive to employers is based in reality," she says. "Do I have a career focus? Do I know from people in the field that a Masters is the right move for me at this time?"
If graduate school is the right option, Robinson warns, know that applying to graduate school is not the easy way out; it takes time, money and effort as admissions become increasingly competitive. If it isn't the option for you, do the legwork to get known and connected in the work arena.
The bottom line? Every transition is difficult and sometimes uncomfortable, but doing the right research to take strategic steps will pay off in the long run.
"People are fearful because getting a job is the hardest job there is," Cooke says. "Ask anyone who has been laid off and had to go out there. It requires discipline and selling yourself in a way that's unfamiliar and out of the comfort zone to many young people. So they really have to make sure that the decision to go to graduate school is to advance a career goal and not just to delay the inevitable."
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