Should You Go to Grad School?

What do you do if you're about to graduate from college in this economy? For many college seniors the answer has been "apply to graduate school." According to the Graduate Management Admissions Council, a nonprofit education organization of leading graduate business schools, most graduate business schools received more applications in 2008 than they did in 2007 (Applications Levels Rise Sharply at Business Schools Worldwide, The Graduate Admissions Council, August 29, 2008). Not only are college seniors applying for spots in MBA programs, those already out in the field are hoping to get in as well. While some might be hiding behind the ivy-covered walls until the economy turns around, many feel that an advanced degree will make them more marketable. As a friend once said to me, "it's never a bad thing to get more education." Whether it will actually help you achieve your goals is another thing.

A master's degree is required if you want to be a clinical psychologist, occupational therapist or librarian, for example. For other fields, an advanced degree isn't absolutely necessary but having one can help you advance. In some fields, having an advanced degree won't make much difference at all. Before you commit to graduate school, find out if this option is really for you. Read Graduate School or Not?: Do You Need to Go to Graduate School?.