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Opportunity Cost

Graduate school can cost a tremendous amount and I am not just talking about money. But, as a student you must ask yourself does the sacrifice out ways the work that goes in to it?
In some cases people who are pursuing their graduate degree have full time jobs and take classes part-time at night. Therefore they do not lose their source of income. Also in many cases a company will flip the bill (or at least a portion of it) for a grad degree. Not to mention that if youre going to a top 10 grad school, I would expect that person to be paid significantly more upon graduating. All in all, I think there is a lot of truth in what you said about experience vs. education but experience + education is really the best combination.
As someone who works in higher ed with student finances you are right on the money. The cost and potential risk from loss of income and massive (in addition to possible undergrad debt) makes grad school in general a poor decision especially when you look at the fact that for all graduate degrees the annual wages are only about $7,000 higher a year.
However, there are many ways to cut down on the cost of grad school dramatically. For example, many companies will do tuition reimbursement for employees to get MBA, most college have tuition remission programs for employees, and they may offer assistantships or teaching/research fellowships as well. When you take into account little or no tuition costs (plus receiving a livable wage and not forgoing earnings) the benefits of graduate school are well worth it.
In addition, my personal experience is that employers are going to look most favorably on someone with recent work experience and a degree versus someone who just has degrees or someone who just has work experience. Why pick one or the other? Colleges require a wide variety of employee fields such as real estate, counseling, PR, graphic design, etc that may be in your career field. Next time you are looking at grad school or jobs, see if they offer any tuition reimbursement or if the grad school has any ways to waive or reduce tuition!
As someone who works in higher ed with student finances you are right on the money. The cost and potential risk from loss of income and massive (in addition to possible undergrad debt) makes grad school in general a poor decision especially when you look at the fact that for all graduate degrees the annual wages are only about $7,000 higher a year.
However, there are many ways to cut down on the cost of grad school dramatically. For example, many companies will do tuition reimbursement for employees to get MBA, most college have tuition remission programs for employees, and they may offer assistantships or teaching/research fellowships as well. When you take into account little or no tuition costs (plus receiving a livable wage and not forgoing earnings) the benefits of graduate school are well worth it.
In addition, my personal experience is that employers are going to look most favorably on someone with recent work experience and a degree versus someone who just has degrees or someone who just has work experience. Why pick one or the other? Colleges require a wide variety of employee fields such as real estate, counseling, PR, graphic design, etc that may be in your career field. Next time you are looking at grad school or jobs, see if they offer any tuition reimbursement or if the grad school has any ways to waive or reduce tuition!

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