Is Graduate School Right for You? A Comprehensive Guide to Help You Decide

Going back to graduate school is a big step and exciting commitment when you - and your career - are ready. There are many benefits to getting a graduate degree, too.

After working at a university for several years and identifying leaders I aspired to be like one day, I realized that a doctorate would be a necessity to reach my career goals.

These are the steps I took before deciding to apply and ensure going back to graduate school was right for me:

1. Clarify Your Career Goals and Motivation

2. Evaluating the Costs of Graduate School

3. Finding the Perfect Graduate Programs for Your Goals

4. Consider Alternative Paths to Career Advancement

5. Make an Informed Decision

Clarify Your Career Goals and Motivation

Going back to school is a great option if you have a clear idea of what you want to achieve in the next 3-5 years and are confident that a graduate degree will help them achieve those goals.

Question to ask yourself: What are my career goals?

Do you want to progress into a leadership role? Go deeper into your area of expertise as an individual contributor? Make a pivot to a new industry?

Also look for "proof" that committing time, energy and money to another degree will help you achieve your career aspirations.

Action step: Do a LinkedIn search for people whose careers you admire, who work at companies or have job titles you admire. Do they have graduate degrees? At what point in their career did they go back to school? You might also talk to your manager or human resources department about your career goals and whether going back to school will help you achieve them.

Your motivations for applying to graduate school should also sustain you to complete the program and earn your degree.

If you go back to school on a whim thinking it will buy you time to decide on your career plan, you might lose interest and be less compelled to complete the degree.

Evaluating the Costs of Graduate School

Graduate school is not (usually) free. And it also costs more than money.

Keep in mind the time, energy, and opportunity costs if you go back full-time and pause your career and salary.

You might experience "sticker shock" when initially looking at tuition and fees. Know that the advertised cost does not necessarily mean that's what you will pay.

Here are a few ways to reduce the financial costs of graduate school:

1. Employer tuition assistance programs

2. Assistantships, associateships, and fellowships

3. Student loans

4. Grants and scholarships (be sure to fill out the FAFSA)

5. Work full- or part-time while in school

6. Programs like AmeriCorps have financial education awards and partner universities who provide varying financial support.

Note that the financial cost of a graduate degree varies widely based on the school and length of program. There are some master's degrees that cost $10,000, and others can cost over $150,000.

Scholarships are not limited to those given by the university. Research professional organizations related to your field to see if they offer scholarships or professional development funds for members to pursue a graduate degree.

Before the costs of being a student, also consider the financial costs of applying to graduate school.

Finding the Perfect Graduate Programs for Your Goals

Every individual has unique needs and priorities for their education. Where one person may simply need a master's degree to qualify for the next level at their current company, another might pursue a top-20, nationally rated program to access accomplished faculty, peers and career services resources to achieve their career goals.

Factors to consider and prioritize:

1. Cost of degree

2. Time to degree

3. Location of program (including in-person, hybrid or online)

4. Program content and university resources

Consider Alternative Paths to Career Advancement

Do you need a graduate degree to progress in your career? Some career goals can be met through short-term upskilling opportunities.

Here are a few other options if you are not ready to commit to going back to school:

1. Certifications

2. Bootcamps and professional development programs

3. Self-study (ex. online courses and books)

4. Consulting or freelancing

You might also consider taking one or two graduate level courses prior to applying and enrolling to see if graduate school is the best fit for you. Chances are, you can transfer those credits to a future degree program when you decide to enroll later if you are not confident that you need to go back to school now.

Make an Informed Decision

Take your time to review your options and organize your career and life priorities before applying.

Once you know your career goals, have considered the costs, researched best-fit programs, and considered alternatives, you're in the best spot to make an informed decision about whether graduate school is right for you.

Good luck, you've got this!

Follow Dr. Jena on LinkedIn for honest insight and helpful tips on your journey to graduate school as a working professional.

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