Entrepreneur Spencer Schar has a bachelor’s degree in finance and a master’s degree in business administration. This article will look at how getting a master’s degree can help to improve a graduate’s career prospects and help them to achieve their personal and professional goals.
For many students, continuing their education is a worthwhile endeavor. Nevertheless, graduate school is not necessarily the right step for everyone, particularly straight after earning an undergraduate degree.
Prior to embarking on the application process, students should consider why they are interested in attending graduate school to ensure they are doing it for the right reasons. The attached infographic provides some interesting statistics about higher education in the US.
Reasons to consider graduate school include:
- The student’s desire to pursue a specific career that demands further training to enter the profession
- Their passion for a particular subject and desire to gain additional expertise in the field
- The student benefiting from sufficient financial resources and time to devote to further education
On the other hand, reasons why graduate school may not be the right choice for the student at that particular time include:
- Rather than having self-defined career goals, the student may find themselves doing what others tell them they should do next
- They may lack self-defined career goals and believe a master’s degree will help them clarify their career options
- They do not yet feel ready to find a full-time job and wish to postpone “living in the real world” by remaining in education; however, a university education does present some significant benefits for jobseekers, as the attached PDF highlights
Studying for an undergraduate degree is an apt opportunity for self-exploration. Students can change their majors as they see fit, test their interests through internships, and try out various student organizations. Graduate school, on the other hand, best serves those who have a clear career goal and specific program in mind. The embedded video takes a closer look at graduate school and what it entails.
Even if the student does have a clear career goal, they may find it beneficial to postpone enrolling in graduate school for a few years after they have earned their undergraduate degree. Nevertheless, for those who have clear career goals and a desire for further study, particularly those pursuing careers in STEM fields or the legal profession, master’s degrees are highly regarded by employers. Although they are by no means guarantee success in applying for a role, the UK Government’s Graduate Labour Market Statistics 2020 report suggests that both graduates and postgraduates benefit from higher employment rates than nongraduates.