{"id":54713,"date":"2022-04-30T05:59:15","date_gmt":"2022-04-30T12:59:15","guid":{"rendered":"https:\/\/gmatclub.com\/blog\/2022\/04\/should-i-go-to-grad-school\/"},"modified":"2022-04-30T05:59:15","modified_gmt":"2022-04-30T12:59:15","slug":"should-i-go-to-grad-school","status":"publish","type":"post","link":"https:\/\/gmatclub.com\/blog\/should-i-go-to-grad-school\/","title":{"rendered":"Should I Go to Grad School?"},"content":{"rendered":"

\"MBA<\/h2>\n

\u201cShould I go to grad school?\u201d<\/h2>\n

As seasoned admissions coaches, our answer invariably is: It depends.\u00a0A graduate degree is a coveted distinction, especially from a top program. And while the best graduate degrees promise to enhance your job and financial prospects, not all degrees are created equal. When asking, \u201cwhat should I go to grad school for?\u201d most applicants cite career advancement, higher earning power, and gaining unique expertise for specialized roles and\/or industries.<\/p>\n

For example, one of the most popular grad school degrees continues to be the MBA. In survey findings released earlier this month, the Graduate Management Admission Council (GMAC) cited that 4 in 5 candidates say that a graduate business degree allows them to stand out at work (more than 80% of its 6,500 survey respondents). Despite the global pandemic and its disruption across sectors, most students who were asking, \u201cshould I go to grad school?\u201d and \u201cis grad school worth it?\u201d continue to have a positive view of the potential benefit of a grad business degree for their career and personal growth.<\/p>\n

That said, your motivations and future ambitions are the first filters for discerning whether grad school in general, or the MBA in particular, is right for you. The first things an admission committee wants confidence that you can answer for yourself are,\u00a0\u201cWhy should I go to graduate school? And why this school?\u201d Your ability to respond with clarity and confidence starts with your honest introspection about your own values, needs, and priorities.<\/p>\n

What is Graduate School?<\/h2>\n

A graduate school offers students a deeper and more specialized education in their chosen field or academic discipline. A graduate degree is pursued after college completion (having obtained a bachelor\u2019s degree). While the focus in undergrad is typically knowledge acquisition, grad school tends to encompass a more rigorous course of study.<\/p>\n

That\u2019s why answering, \u2018what is grad school?\u2019 should extend beyond the potential academic outcomes to experiential outcomes. The Master of Business Administration (MBA), for example, \u00adisn’t merely about cultivating better corporate managers. As Fortuna Co-Founder Judith Silverman Hodara explains in her article on advice for non-traditional applicants<\/a><\/strong>, \u201cReally, business school should be called leadership school. The most important qualities for catalyzing meaningful change across the industries that shape our everyday lives have to do with inspiring innovation, galvanizing support, motivating others, and collaborating in service of a greater\u2014often audacious\u2014goal\u2026 Business school isn\u2019t just about creating decision-makers\u2014it\u2019s about creating leaders and global citizens.\u201d<\/p>\n

Should I Go to Grad School? <\/strong><\/h2>\n

So what kinds of factors are most important for your decision-making about going to grad school or not? As higher education professionals, we\u2019re admittedly biased about the benefits of a well-chosen master\u2019s degree to deepen your learning, expand your networks, and enhance your leadership capacity. But to set yourself up for success, you\u2019ll want to take ample time to self-reflect. Even if you\u2019re certain grad school is in your future, \u201cwhen should I go to graduate school?\u201d should be front of mind, too.<\/p>\n

Here are five elements to consider:<\/p>\n

1. Career goals<\/strong><\/h3>\n

As a starting point, it\u2019s valuable to consider both your long-term and short-term goals for pursuing a grad degree. Your long-term goal is generally where you plan to be at the peak of your career (answering the question \u201cwhat do you want to be when you grow up?\u201d), while your short-term goals are the stepping stones that pave the way to get there. Short-term goals involve your near-immediate plans \u2013 either for an internship (if relevant) and\/or two to three years post grad school. During this period, you should be acquiring specific expertise or skills that are essential for you to reach your long-term vision. (View this invaluable article by Fortuna\u2019s Heidi Hillis on how to create a career vision<\/a>.)<\/p>\n

Caution:<\/strong> <\/em>If you\u2019re unsure what you want to do and why, you risk wasting your money and effort in applying before you\u2019re ready to make the most of the opportunity. As mentioned, unlike college, grad school is for deepening your expertise in a particular study or discipline.<\/p>\n

2. <\/strong>Network<\/strong><\/h3>\n

The strength of a school\u2019s alumni network offers a resounding endorsement for a program\u2019s career opportunities. Some alumni networks are more geographically concentrated than others. Then there are mentors, faculty, and a school\u2019s career services team, which are often dedicated to supporting your future career placement and future advancement as part of the school\u2019s alumni community. In a Forbes interview<\/a>with Fortuna\u2019s Matt Symonds, entrepreneur Mariam Naficy cited network as the most valuable thing she took from grad school: \u201cThe network of friends, and really, future colleagues, was by far the most important thing.\u201d<\/p>\n

3. Brand recognition<\/strong><\/h3>\n

Prestige is inherently subjective, but in terms of opening doors, a school\u2019s brand recognition can be a major differentiator. And, it\u2019s not just about the various grad school rankings, which can be tempting to overly rely on (especially at the outset). How might a school\u2019s strengths and reputation, as well as the experiences and network it provides, support your career vision and post-grad job placement? While rankings can be useful, it\u2019s just as easy to be misled by subjective definitions of \u201cbest schools\u201d without a strong grasp of their algorithms and methodologies (which can vary wildly).<\/p>\n

4. Culture and personality<\/strong><\/h3>\n

Nothing will give you a better sense of a school\u2019s culture and personality than a campus visit. Remember \u2013 this is where you\u2019ll be spending the next few years of your life. Beyond your feelings about the location itself, what\u2019s the overall \u201cvibe\u201d of the school? Who does it attract, and what kind of environment does it nurture? When you speak with alumni and current students (and you should), do you sense a more competitive classroom or a collaborative environment? Remember: It\u2019s not just about whether you\u2019re a fit for the school, but also whether the school is a good fit for you.<\/p>\n

5. Affordability and ROI<\/strong><\/h3>\n

Return on investment (ROI) goes beyond post-grad starting salaries and is inherently individual. That said, you\u2019re foregoing your salary at the same time you\u2019re laying out tuition payments, so affordability and ROI should be part of your equation. For example, MBA rankings conducted by Forbes are based exclusively on ROI and drawn from pre-and post-MBA compensation, location, and career choice. (Attending a top MBA program can boost your salary by as much as 60-150%, for example, while other degrees will yield only single-digit increases.) If you\u2019re tempted to pursue a lower-ranked school because of tuition cost, consider that ROI may also be lower. Better programs have heftier price tags but usually pay greater long-term dividends.<\/p>\n

Is Grad School Worth It?<\/strong><\/h2>\n

You want confidence that your favored grad schools are poised to advance your career aspirations and goals. At the end of the day, it\u2019s not about prestige, post-grad salaries, or number of job offers. It\u2019s about envisioning the professional you want to become and defining the qualities you care about most in a grad school experience. Your discerning approach and careful research ensure you\u2019re spending your time and effort on schools that will be the best fit for you. Ultimately, the better you get to know the programs of your choice, the greater your chances of acceptance.<\/p>\n

Requirements for Going to Grad School<\/strong><\/h2>\n

While admissions requirements vary between programs and disciplines, the application for top grad schools may include:<\/p>\n