When approaching third and fourth year of our degree with good grades, graduate school crosses our mind. I was placed on the wait list for the M.A. in journalism at the University of Western Ontario, and they told me to be ready to move in 10 days if I received an offer. Unfortunately, I had to turn it down prior to receiving an offer since it was impossible for me. Now, four months later, I am still contemplating my master's.
Most students are aware that a master's or PhD ensures they'll earn more, and they'll have a higher education level than the majority of the population, but there are some disadvantages when you choose to go beyond an additional certificate. Students are so blinded by the second degree that they forget to consider these pitfalls. I’m waiting until I’m in a steady position to decide if a master's is worth pursuing and which one would be most beneficial to my career. Here are a few considerations you should ponder before applying to graduate school:
1. It might make you overqualified
An additional degree is something that you should be proud of accomplishing—but you might run the risk of cutting yourself off from more jobs. Some employers will not consider your application for a position because of the degree. For example, if you wanted to work at a national newspaper, you will be cut off if you have a law degree or a bachelor of education and master's of education. Some degrees place you into a box that is hard to break out from since you are considered a professor, a lawyer, a teacher or a doctor.
2. It's more expensive
Instead of costing the average employer $40,000-$50,000, your salary demands might start at $60,000. What’s an additional $10,000 for a candidate coming out of school, you ask? It's a lot. While employers won’t disclose that they rejected your application for this reason, it can definitely be a roadblock, since they know that, thanks to your additional years of education, you'll be asking for more income. Employers still have to train you, and it’s more costly for them. You’re also going to expect large wage increases which may be a burden on the company.
3. Higher expectations of the workplace
Due to your education, employers naturally think that you'll expect more from them. It can be as simple as pensions, sick days or benefits packages. If you are unhappy or you don’t get that promotion you applied for, you may leave for another high-paying position in a better company. This is a tremendous risk for them.
Graduate School is great, and the opportunity is well worth your late-night studying in undergrad, but you should be prepared—your job hunt won’t be easy. Graduate students start on the same bottom rung as the bachelor's degree holders, and their income only rises five to 10 years later. A graduate degree may hinder your job search, not help. While education is important since it gets your foot in the door, it’s your experience and work ethic that will get you ahead in the real world.