The Arrival Guide

Lately, I’ve been dealing with the dilemma that I am about to share with you. After you get your undergraduate degree, is it better to attend a graduate school or just go ahead and get out in the “real world” and start making money now? As always, there are pros and cons to each decision. Continuing school is a big decision in your life due to the amount of added time it takes to get a graduate degree, as well as a very large financial commitment. There are a series of key points to consider before making the decision.

Theoretically, a degree from a law school (which I’m personally considering), medical school or a Masters degree in any subject should increase your starting salary and give you a better chance of getting a good job sooner. For example, with an undergraduate degree in Public Relations, your average starting salary is $35,500, according to payscale.com. If you took your PR degree and went to law school, after law school graduation, the federal minimum starting salary for a law clerk is over $58,000 a year, with a $13,000 raise every year for about the next 5 years. Traditionally, the pay for people with higher education is more than that for people with an undergraduate degree.

Of course, going to school for an extra few years comes with its downfalls. The financial responsibility of attending graduate school is a large one. If your parents aren’t in a financial position to help out, then extra school could mean more student loans, potentially putting you in substantial debt once you graduate. Graduating with a significant amount of debt, while not the end of the world, is not the ideal place to be, financially. The obvious advantage of not going to a graduate school is that you are able to get a job immediately. You are not spending money on school, and you are working, therefore making real money. And, money does sound pretty good right now.

Sometimes, though, the two do come together. If your undergraduate grades were not necessarily the best, having real world work experience may increase the chances of you getting into a graduate program, allowing you to further your education and get an even better job when you graduate.

Like I said earlier, I am thinking about attending a law school in the near future. What I am considering, other than what we already established above, are things like which schools I should look at and how far away from my hometown I want to be. I also am talking to people who have attended law school and getting their opinion on the current job market and what it takes to get into the school. They are often the best source for honest information.

Getting another degree, or not getting one, could be one of the biggest decisions of your life. It’s best to talk it over with family, friends and professionals to figure out what is the best decision for you. Education, like I said in a previous installment of this blog, is an investment in yourself. You have to decide if spending more money now to potentially make greater money later is worth starting your professional career a few years later. Consider all the points I made here, and make the decision that is best for you.

Oh, and if I forgot a point, remember that there is a comments box. I’d love to hear from you.

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