Should you go to graduate school?

Every now and then I run into a young woman who expresses that they are thinking of going to graduate school and I always ask “why?”

I have had so many thoughts about whether or not graduate school is worth attending or a graduate degree is worth having that I felt it would be best to document my thoughts here, so that I can easily share it with other people.

Just a little bit about myself and I graduated with my masters degree in electrical engineering in 2016 and immediately went into the workforce. Fun fact: I do not currently use any of my degrees. It has its benefits, but I would like to discuss with you whether or not you should attend graduate school.

Do I absolutely need this graduate degree to advanced my career?

The first question yet to ask yourself is do I absolutely need this graduate degree to advanced my career? Now there are certain professions that require an advanced degree in order to work. Some that come to mind are a lawyer, a doctor, or a professor. But if you’re in particular field that does not require you to have a graduate level degree in order to succeed, I would highly suggest that you opt to enter the workforce instead.

Often times the skill that you need for a particular job, you’ll end up learning in your role or on the job. Graduate school requires dedication of your time and often resources so you had to see if the cost is worth the benefit.

Are you trying to delay or avoid real life?

The second question you have to ask yourself is are you trying to delay or avoid real life? If getting a graduate degree is your way of avoiding entering a corporate job, or dealing with the real world, I would suggest you man up and enter real life as soon as you can because the problems you’re looking to delay or avoid you will experience anyway, and it’s better to do that sooner rather than later.

My reason for going to graduate school was really achieving a personal goal of having an advanced level degree or a masters degree. I had this arbitrary goal to have a PhD but ended up, leaving with my masters.

Nobody required me to obtain it.

My family at the time felt like I had done enough education-wise but I wanted a different experience.

Some things to consider when you go to graduate school

Number one: the delayed contribution to your 401(k).

Unless you are extremely savvy, when it comes to your finances, more likely than not while you are in graduate school, you’re not contributing to a 401(k). This means that you will have to play “catch-up” whenever you do complete your degree and enter the workforce. This is not something to dismiss or miss.

Missed earnings from the years you’re in graduate school

The second thing to consider is all of the missed earnings from the years you are in graduate school. Most graduate students are offered a fellowship or scholarship. Some like myself got a teaching assistant job and many people pay out-of-pocket for their graduate degrees. While you are in graduate school, you are not making as much money most of the time as you would be working a traditional 9-to-5. So you miss out on all of the money and earnings that you would have during your time in graduate school. This is money you do not get back, but it is likely that if you are in the STEM field, your earning potential will greatly increase. Something to consider.

So are there any exceptions to my rules? The only exception that I can think of for going to graduate school besides the ones mentioned are those who were in graduate school during the 2008 financial crisis. Those individuals were able to avoid the competition in the job marketplace, the difficulties with finding a job in that market, losing their house, etc. These folks actually were able to avoid a horror story. Otherwise it may not make sense to have a graduate degree.

Now that being said, I actually don’t regret my graduate degree. I feel as though it has helped to distinguish me from other candidates. I was able to learn a level of technical complexity that I did not learn in undergrad. Also my graduate school alma mater has a higher ranking than my undergrad, so it opened me up to different or even better opportunities. However, I would’ve likely arrived at the places in my career that I arrived at without it. I know for us, women and especially as black women we love to be educated and it is a beautiful thing. But sometimes it is worth reconsidering if it’s worth the investment of our time and finances that we cannot back.

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