Gritting your teeth, biting your tongue and other more fun activities... ***The Helping Hands Writeoff***
Nov 04 '00 (Updated Dec 07 '00)
This editorial is a contribution to the "Helping Hands" writeoff, organized by bgoodday. At his son's and Viper 1963's suggestion, he developed the idea for a writeoff for charity.
All of the participants have so generously decided to contribute all money earned from this write-off to help someone in need. They have written in a variety of areas but the common denominator is that we will make a difference in the lives of those less fortunate then ourselves.
If you would like to help someone in need this year but were not able to participate in this write-off, you can do so by reading as many of these reviews as possible. Please take a minute out of your day to help another. I WILL DONATE TEN TIMES THE EROYALTIES EARNED ON THIS EDITORIAL TO FEED THE HOMELESS. And now back to our regularly scheduled Epinion...
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Should I go to graduate school?
That question goes without saying. If you are on a career track for law, psychology or medicine, for example, you don't have a choice. If you are heading into a social science, you know as well as I that you need at least a master's to get a decent position. If you want to be a teacher, then you will need an advanced degree if you want to teach above a secondary-school level or at many private high schools. If you are asking the question, then the answer is probably "yes".
Almost anyone in any career will experience a pay increase as a result of an advanced degree. The trick is to do a cost-benefit analysis and determine whether the cost of school will be offset by your new income. As I said above, in certain professions you obviously don't have a choice. However, for people in the business world, determining whether to pursue a masters is a time-consuming process.
Why wouldn't I want to go?
There are several reasons why you might not want to attend grad school. First, it is ungodly expensive. Most law, medical and business schools charge a tuition of at least $30,000 a year. Multiply that by three for law, two for business and four+ for medicine, and you get a sense of what you are facing. To be honest, I don't know how much a graduate program in English costs, for example, but I can imagine that it is not cheap.
Second, you may be sick of school. I thought that I had had just about enough of exams, papers and classes when I graduated in 1998. I have since learned that the world of a student is much more preferable to that of an investment banker. However, I know many people who have sworn that they would never again set foot in a classroom.
Third, there is the potential for huge opportunity costs. If you are a law student, you will (most likely) be entering law school immediately after college. Although this is not always the case (no pun intended), most likely you are 21 or 22, single and child-free. Most have never held a professional job, and the transition from college to grad school can be seamless. However, for others (such as myself), graduate school is like trying to change horses mid-stream. When I enter business school, I will be giving up a lucrative job and financial security. For two years I will not be able to hold down a job more taxing than waitressing (to which I fully plan to return). I will have to rely on school loans to pay my rent, my insurance, my food costs and my car payments, while simultaneously trying to figure out how to make my credit card payments with no income. I am scared. Very scared. But I am hoping that it will be worth it in the end. I have been out of school for almost three years, and I have gotten used to a certain level of financial comfort. Would you be able to give it all up for school? The Business Week return on investment calculator may help you help you decide if your salary is worth giving up:
http://bwnt.businessweek.com/roi/enter.asp
Is now the right time to go?
Ah, this is the age-old question. Again, for most professional degrees, it makes sense to transverse directly from college into graduate school. However, for business, you need a minimum of two years work experience before you can apply (most schools state that as a requirement). The average age for business school first-years is 27, with approximately five years experience. I am bucking the trend with only two-and-a-half years experience, because I feel that the time is right. How did I decide? Well, I realized that I had started to stagnate at work and that I needed an MBA to advance in my career. Also weighing heavily on my mind was the fact that I am 25, single and childless, meaning that I will have a much easier time now than later in my life. Who knows what could happen in the next few years? I was afraid that if I didn't go now, I might never go once I started a family.
Be prepared to answer this question well in your own mind before attempting to apply. Almost all of the business school applications I have seen have asked a variation of "why do you want an MBA? Why is now the right time?" You had better have a good reason figured out (not just that you want to make more money), or else you won't get in.
Now what do I do?
Have you figured out if a graduate degree is right for you? Have you figured out that now is the right time? Have you realized that you can live with a $120,000 debt hanging over your head upon graduation?
Good. Now start preparing.
It takes approximately 18 months to do a graduate-school application process correctly. Trust me, it will invariably take longer than you think! Start looking around in both U.S. News' and Business Week's ranking, start poking around review.com's search site and start talking to people in your desired field. Try to narrow your list of desired schools down to about 15, and then go to their websites. If the programs appeal to you, order a catalog and application, even if you aren't going to apply for a year or two. The catalogs will tell you whether or not the program is up your alley, and the application questions change very little from year to year. Look at their admissions statistics -- could you get in? Read the student stories and try to talk to people who have gone there. Do you like the people that attend the school enough to work on small teams with them for the next few years? Lastly, start visiting schools and attending classes.
Now you are ready to apply.
In conclusion:
The decision to go to graduate school is an easy "yes" for some, and even easier "no" for others, but a resounding "I dunno" for most. Talk to successful people in your intended field and see if you need a graduate degree to get ahead. Also, don't forget to check out the websites of companies in your field, which may give background summaries on top executives. Do they have an advanced degree? If so, from where?
When all is said and done, take a deep breath. You are going to need all the strength you can muster for writing essays, taking standardized tests and filling out applications.
Happy applying!
- Jen
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Please try to read as many of the Helping Hands writeoff contributions as possible. It is a guilt-free, cost-free way to give to many worthy charities, and I highly encourage you to check out some of these submissions. Here are the other participants:
AlwaysStubborn, amykhar, argonut, bgoodday, bluehawg, bluesky2, bmcnichol, bops_mom, broadwaybaby, caleo, canne, ceeJay62, cntaur5, conradd, cutie_pi, cyndiA, dani257, dannyzmom, darkmistress, diverpam, dreamcatcher39, dunkjam, emeleel, francesca57, frani49, gracef, grumpifrog, gypsyrose75, jcellis, jenni1396, jimdaisy, jo.com, joubert, katetpz, kelly60, kimmiekg, kristennc, kyhiera, lildev, maddi, meanbeast, merlot, mimi369, mmounsey, monicaL2me, mskills, mspooh5, pantazis5, pianomam, prepoia, rmartin_cpa, roadiem, shanny21, soxfan, sugarbugg23, suzig, taurusmoon, thinkerlady, tipu, viper1963, wavesandshells, wickedgood, and wildbillm
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BunnyJav
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Location: Minneapolos, MN
Reviews written: 34
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"You're the true Lord of the Dance, no matter what those idiots at work say"
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