If you're a college student, you may be considering getting a masters or Ph.D. from a grad school. However, the decision should not be made lightly. Below I will list the pros and cons of attending graduate schools.
Pros:
1. You will automatically become more marketable.
Attaining a master's or Ph.D. will undoubtedly make you more marketable when it comes to attaining a job. While a bachelor's is sometimes sufficient, a master's gives a person even higher credibility and valuable skill sets.
2. You are furthering your education.
More education is never truly a bad thing. Especially if you really love your area of study, furthering your knowledge of what you are passionate about is a great thing.
3. You will receive a higher income.
While this doesn't always apply, attaining a master's degree can sometimes lead to higher income.
4. It will advance your career.
If you're studying something like psychology, chances are you need to get a masters in order to advance your career. Students seeking to become a psychologist or psychiatrist are required to gain at least a master's, as are other fields of academia.
5. You get to delay joining the workforce.
While grad school is undoubtedly stressful, it's still not the real world. Graduate school may be ideal for students who aren't quite yet ready to join the workforce or who aren't quite sure what they want to do with their lives yet. It can provide a much-needed buffer between real work experience and undergrad.
Cons:
1. It's expensive.Not surprisingly, grad school is hella expensive. Most grad programs cost anywhere from $30-60 thousand per year, depending on where you are. Especially for out of state students, tuition can be exorbitant. Prospective grad students will have to weigh the cost/benefit of attempting to get a master's.
2. It's competitive.
Grad school applications are more competitive than undergrad applications. This is because you are competing with the cream of the crop, the best of the best. Especially if you're attempting to do something in a competitive field, applying can be a very difficult and stressful. Almost all grad programs require a GPA of at least 3.0 to even be considered.
3. It takes longer to complete.
A master's will take two extra years to complete, while a Ph.D will take four. Doing the math, grad students will be 24 when they get their master's, and 26 by the time they complete their Ph.D. For some, the time it takes to complete these will be worth it, but for others, they may see it as a waste of time when they could've been making money.
4. It's easier to fall into debt.
While college debt and loans is nothing new or surprising, graduate school just adds another layer of stress on those trying to pay for their higher education. Coming out of grad school thousands of dollars in debt is not uncommon. It'll ultimately be up to the individual if they decide their higher degree is worth the financial risk.
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Hopefully, I laid out clearly the pros and cons of graduate school. While potentially good, ti comes with repercussions and consequences that students will have to face.
