Grad School and You: It's More Than the Money

How will you pay for it? Can you live on part-time employment? You know it's really expensive, don't you? If grad school is in your plans (or once was), these questions are all too familiar. Money is a very important consideration when considering whether or not to plunge into grad school, but it is often placed incorrectly in the hierarchy of important factors in the grad school equation. Money should be the last hurdle over which potential students jump. First, one should really understand what life will be like in school that is much more demanding than college.

It's extremely important to get the truth about the benefits of grad school in your career field. In business, obtaining an MBA almost always helps secure a higher position. Keep in mind, however, that many others are getting one, or already have it. Thus, owning a higher degree no longer gives the boost it once did. Figure out what kind of combination of education and experience your desired job requires. Some companies will explicitly place more emphasis on one than the other. Talk to those who already have your dream position. Many people are more than willing to share their experience, as well as insight as to where their field is going and for whom it might be looking.

After determining whether or not grad school will really help, it's time to find out what to expect. Set up tours and meetings at prospective schools. You'll be surprised at how much information schools are willing to provide for you. Remember, it's not like college. Schools and departments can be very picky about what kind of student they want. The students they graduate also reflect the strengths and weaknesses of their programs.