Should You Go To Grad School?

Going to grad school is a huge decision. Depending on what you want to do, it may require you to move across the state or country (or to a different country entirely!). While some programs allow you to go part-time - allowing you to keep your day job - others don't. And while they may pay for your program, and give you a part-time job during your studies, your salary will be significantly reduced.

I say this not to deter you, but to make sure you go into the process with as much information and knowledge as possible. However, if you are seriously considering if grad school is the right move for you, then I have five things you need to know to help you make an informed decision.

#1: Does Grad School Help You Increase Your Earnings?

Increasing your earning potential is a solid reason to go to grad school. People who have graduate degrees earn, on average, 25% more. Of course some earn more and some less. Take a look at the jobs that would be available to you after finishing a program and look up the average salary. See if you think the trade-off is worth it.

#2: Do You Need A Career Change?

Sometimes the only way you can get what you want for your career is by going to grad school. You may need additional certifications beyond what a bachelor's program provides in your field, and a masters degree (or doctorate) is the only way to make that happen. You may wish to change your field entirely or simply get the education you need to advance into more elite positions.

#3: What Does It Cost to Attend?

If you are paying out of pocket, what are the costs? How do you feel about the return on your investment? Are you comfortable with student loans?

If you are going into a fulltime program, you may be offered an assistantship. These are usually 20 hours a week and allow you to gain experience with teaching and research. And while they pay, you will find that it probably is not what you are used to.

Consider - in either scenario - what it will take for you to get through the program, the sacrifices you will have to make, and if you are willing to make them. It is possible to get through grad school with little to no debt, but it involves living extremely frugally for a number of years (unless someone can subsidize you).

#4: Do You Have a (Relatively) Clear Vision?

Some people go to grad school because they are unhappy in their current job. However, they are also not sure what they want to do and think grad school will help them sort through the confusion. Given the amount of time and money you must sacrifice, I don't recommend grad school if this is where you fall.

Instead, you may be well suited for grad school if you have at least a general sense of what you want to do. This will ensure that you select the right program and that the sacrifices you are making will be worth it. I don't think you have to be 100% clear. Some of grad school is about refining your vision for your career based on the experiences you have during it. However, you need to be in the ballpark in terms of why you're there.

#5: Are You Prepared to Read All the Time?

You will read a lot in grad school. I cannot stress this enough. During my first semester I thought I read the syllabus wrong. I didn't believe how much reading was required! I ended up coming to class that night having read only a portion of what I was assigned and feeling very embarrassed.

The amount of reading that will be required of you is enormous and, in some cases, not even physically possible. But don't worry - no one expects you to read every word. In fact, reading in grad school is very different. You can check out my tips for how to approach it in this video:

And there you have it! Five very practical things for you to think about as you begin to make your decision about grad school.

What questions do you have about grad school? Connect with me on twitter and let me know!