Should You Go to Grad School?

Whether you're still in undergrad, just got your degree, or graduated years ago, it's a question that seems to keep coming up: should you go to grad school? After all, in today's changing marketplace, you may need to take action to give yourself more of a competitive edge. That's particularly true when you consider that a whole one-third of U.S. adults are college graduates, up substantially from the 4.6% in the 1940s. That's largely why so many people are considering graduate school. In fact, some 27% of employers now require master's degrees for positions that in the past only needed undergrad degrees.

So, again, should you go to grad school or not? Read on.

What is Graduate School?

Grad school refers to an advanced course of study in an academic discipline that can be completed once an undergraduate degree is attained.

Why Should I Attend Grad School?

The possible reasons to enroll in graduate school are endless - depending on your circumstances. Here are just a few:

• To make more money. People with a graduate degree generally earn more than those who don't. That's generally understood. In fact, attainment of a grad degree results in a 25% pay hike, on average. If you get a master's in business administration, why, your salary can rise by up to 60% to 150%.

• To switch gears. This stubborn pandemic has upended all business models. Organizations are becoming more agile, and you should too. Perhaps that means learning new skills or even reinventing yourself. Do your research and try to figure out what positions might be in demand in the future. Fields that are hot now may not be so when you have your degree.

• To do the thing you love. One thing is true about the current social and economic upheaval: employees are rethinking what they want to do in life. No longer is a great pay and benefits package enough to recruit, motivate, and retain employees. So, pursuing your passion is an acceptable reason, indeed, for deciding on grad school.

• Upgrade your education. If you have what's become outdated knowledge of your field, and you're having a hard time keeping apace of advancements, it's probably time to get an advanced degree. If you need help with graduate student loans, contact Juno.

• So that you can use advanced tools and equipment. A graduate program will likely provide access to the best gizmos around, including supercomputers or rare books.

• Employer incentives. Many of the bigger companies have monies earmarked for tuition, be it assistance or reimbursement. If not, you could try to get grants. Do you have to pay back grants, you ask? In general, no, but there are exceptions.

Why Shouldn't You Attend Graduate School?

• You're looking to get an advanced degree in a field - Museum Sciences, say -- that won't markedly improve your earnings. But then, we'd never argue against education for education's sake.

• Your heart's not in it, but it's "the thing to do." If you dread going into it and can't check off any of the reasons above, perhaps you should consider your options.

• If you don't have good tuition sources lined up. We get it - school is expensive. But then you have Juno, an innovative service that negotiates affordable student loans. You should give them a try should you decide in favor of graduate school.

So, should you go to grad school? As you can see, there are many reasons in the affirmative, but it depends on you and your situation. What is for sure is that in this business environment, it's good to be proactive.