TEM #035: The ROI of a graduate degree.
March 13, 2024
Happy weekend!
Welcome to all of the new subscribers 👋 It’s been a super fun week making connections through volunteering with my alma mater and City Year Columbus (AmeriCorps).
Plus, Thursday’s When to Go Back to Graduate School workshop was a hit!
The main topic on attendees’ minds?
“Is graduate school worth it?”
Today, we’ll dive into the slightly-more-complicated answer to that simple question.
The TL;DR = it depends. I’ll show you how to figure it out for yourself.
This week’s highlights:
Your education affirmation
The ROI of a graduate degree
The trickiest tongue twister in English 👅
Photo of the week
Education affirmation.
“We want the education by which character is formed, strength of mind is increased, the intellect is expanded, and by which one can stand on one’s own feet.” - Swami Vivekananda
The ROI of a graduate degree.
“How much does a graduate degree cost?”
“Is it worth it for me to go back to school?”
These two questions may be driving your consideration of graduate school, and rightfully so!
In addition to considering your career and life priorities, determining the ROI (return on investment) of the cost, energy, and time to go back to school is vital to making the experience worth it.
Action Item
Instead of a pro/con list, spend a quiet hour creating a gain/lose list.
Here are a few prompt questions to get you moving:
Gain
How will my career improve after graduation? (ex. better job opportunities)
What skills will I build that will make me more marketable for employers?
Who could I meet in school that will improve my career or life?
Lose
What will I lose financially if I go back to school? (ex. 1-2 years of full-time pay)
How will my relationships be affected when I have less availability as a student?
What do I need to drop from my current schedule to make time to be a student?
What did the gains/losses look like for me?
Higher education opened my world, but it also drastically changed.
Loss: During my master’s program, I made the choice to invest in fewer, higher quality friendships. This involved a rough transition of shedding relationships that took energy instead of giving it. It was emotionally draining while I was also learning how to be a successful graduate student, but ultimately made my life better.
Gain: After graduation, I had access to enter the field of my dreams: working with students at a university. Since I went on to work at Ohio State where I got my degree, I also had instant access to an incredible network of alumni who had a similar path. Having friends across a giant campus made my job much easier, I always had someone to call.
Will graduate school be worth it for you?
It truly depends on your own gain/loss list.
You’re likely considering graduate school to reach your career goals. This could mean:
Having access to your dream field (like me)
Progressing and becoming a leader in your industry
Gaining new skills to make you more marketable for a career pivot
Depending on your current career path and life situation, going back to graduate school could be the answer to all of your needs.
Spend some time this weekend with a notebook or Notes app to help with the decision.
And if you’d like to talk it through with someone who’s been through the process, can support your internal debate, and give you individualized action steps to move forward, I’m totally here for it.
Fun fact.
How long has it been since you’ve tried a tongue twister?
Instead of easing back in, here’s the hardest one in the English language:
“The sixth sick sheik's sixth sheep's sick” (now say it 5x fast)
No connections to graduate school this week, just a friendly reminder to laugh and remember that not everything in life is as weighty as deciding on your future.
Photo of the week.
^ Mock interviews at City Year.
The best part was seeing Corps members gain confidence with each passing round.
If you need help with graduate school admissions interview prep, I’ve got you covered!
Thank you for being here - enjoy your weekend!
Dr. Jena
P.S. If you’re ready to dive head-first into this 1990s nostalgia wave (or simply love shows from the pre-cell phone era), Peacock just added The Nanny to its line-up. There goes my weekend 💃
** Whenever you are ready, here are 3 ways I can help **
If you’re thinking about graduate school 🤔
If you’re ready to apply this year 😃
Related Posts
Hi! I’m Dr. Jena. I help working professionals confidently apply to graduate school and advanced degree programs so they can achieve their career goals.
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