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When A Master's Degree Is Worth It | Dr. Timothy Lawler

When A Master’s Degree Is Worth It

When A Master's Degree Is Worth It

So you just graduated college, and the spark of finally starting your career is ignited.  You start the job searching process, and you quickly realize that this current job market is a tough one.  You search and search only to get a million excuses of why you aren’t getting hired.  At this time, you have a few choices, one of which is to go back to school…..but is it worth it?

The above situation is one of many instances in which today’s college grads are deciding to go back to the books.  Even after just getting a taste of freedom, many recent graduates are finding out the hard way that life and attaining careers aren’t always as easy as they once thought.   However, the following scenarios are ones in which I believe it is a very good idea to go back and get your master’s degree in today’s job market…..

1.  Tough Economic Times

As I write this post, unemployment is hovering just under 10%, and if you don’t know it, that statistic is really high!  I can promise you that there a thousands of people with real life experience that will fight against you and probably win, especially if you only have a bachelor’s degree.  Therefore, rather than struggle to live in a 2×2 box because it’s all you can afford, or move back in with mom and dad, go back to school.  You should qualify for financial aid, if needed, to help cover the cost of living expenses.  Plus, you will gain the much needed experience, have an extra degree that gives you ultimate points when going against the competition, and be able to network with others that may help you land the job you are looking for.

2.  This Degree Actually Matters

Some people were very fortunate enough to graduate from Yale or Harvard, but whether or not they are leaving with thousands of dollars of student debt is a whole other story.  I personally tell people to go for the much cheaper state school for their bachelor’s degree, limiting their debt load significantly.  Then, if they decide to go for their MBA or Master’s in Finance, they can shoot for the stars by applying for the Dartmouth’s and Cornell’s of the world.  My point here is… where you obtain your master’s degree from looks much better to a future employer than any undergrad you attend.  So if you think you missed the mark the first time around, don’t be discouraged to really go for it with your master’s degree.

3.  Can Actually Get Paid

Depending on the field you are looking to eventually dive into, you may actually get paid to acquire your master’s.  For instance, if you are trying to get your Master’s in Chemistry or a subspecialty of chemistry, many state programs will cover your full tuition PLUS give you a stipend to live off of every month.  They understand there is a need in this world for that area of science.   Then, you graduate and are looking like prime real estate to that particular field.  Many other careers offer the same great opportunity.  You just need to research your particular interest to see if it exists.

Ok my friends, there you have it.  These are my top 3 reasons of when I think that you should go for that master’s degree, especially if you are on the fence.  I would love to hear about any others that you might have so go ahead and leave a comment below.   Until next time…..

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