Although the rich world is enjoying a long spell of unprecedented job growth and low unemployment, competition for the most competitive roles remains fierce. Tech companies like Google and Microsoft reportedly receive two million applications per year, and banks like Goldman Sachs attract in the thousands.
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Summary.
The number of people enrolling in university continues to rise — effectively devaluating the undergraduate degree — and a growing number of employers are beginning to require master’s degrees for competitive roles. What, then, are the motives you should be considering if you are deciding whether or not to enroll in a graduate program? Firstly, people who have graduate school degrees are generally paid more money than those who don’t. But while some programs have a clear ROI, there’s a great deal of variability. Consider if the field you’re interested in really requires a master’s to boost your earning potential. The second reason you might consider grad school is to make a career transition. If you find yourself wanting to shift paths (either to keep up with the changing job landscape, or to follow your passion) grad school may not be a bad idea. But if you are simply looking to learn a couple of new skills, you might consider using cheaper online resources like Udemy and Coursera — or even YouTube to learn for free.