Undergrads using grad school to postpone job search?

I have actually overheard many people at my university talking about this. They don't think they can get a job when they graduate, so they are applying to graduate schools instead, hoping that when they get out of grad school the job market will be better and plus, they will have an advanced degree. Personally I don't think it's a good idea, because then you are stacking more student loans on yourself. It almost seems like gambling...

What do you all think, and have you heard of people doing this?

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Originally Posted by icygirl

I have actually overheard many people at my university talking about this. They don't think they can get a job when they graduate, so they are applying to graduate schools instead, hoping that when they get out of grad school the job market will be better and plus, they will have an advanced degree. Personally I don't think it's a good idea, because then you are stacking more student loans on yourself. It almost seems like gambling...

What do you all think, and have you heard of people doing this?

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I didnt realize that people with masters were jobless.

The jobs are out still there, there is still generations retiring, (now more than ever), and having an advanced degree is still going to be valuable, even more so during a recession.

Cant go wrong there.

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Originally Posted by icygirl

I have actually overheard many people at my university talking about this. They don't think they can get a job when they graduate, so they are applying to graduate schools instead, hoping that when they get out of grad school the job market will be better and plus, they will have an advanced degree. Personally I don't think it's a good idea, because then you are stacking more student loans on yourself. It almost seems like gambling...

What do you all think, and have you heard of people doing this?

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I don't think it a bad idea. If you can afford to do it, do it. I have been going to college for 7 years part time and will get my associates this year. If I could not worry about working and goto school I would, but I have a wife, 4 kids, a doberman, a little kitty, a gecko and 3 bps that don't stop eating!!

Mike

Depends on your field. In the hard sciences, a master's degree represents a huge gain over a bachelor's. Not to mention, in the hard sciences you typically don't incur much for student loans since your tuition is waved and you are paid a teaching assistant stipend.

Luckily most of my undergrad loans were subsidized, so the 5 years I've been in grad school they have incurred almost 0 interest. Compare that to inflation, and you could argue I'm making money by just letting those loans sit there.

JonV

I've definitely noticed this trend... Grad schools' applications are going through the roof from what I've heard. Everyone wants to stay in school, obtain a higher degree, then graduate in a year or two when the economy has turned...

I seriously considered it, but my undergrad loans are so large that I'll be paying them off for the next 10 years of my life! So no grad school for me yet... I'll wait until I get a job with an employer that will pay for it!

I've heard of plenty of people doing this. And not just b/c of the economy either... I know of people that just haven't wanted to start working yet, so they go for their masters. At the career fair I went to a few weeks ago, some of the companies that I was talking to were saying that many of the students they were talking to said that they would be heading to grad school if it didn't look like it would be possible to get a job (and unfortunately most of the companies there weren't even hiring interns =/ ). I can't see doing it, but that's just b/c I want to be out of school....I'll keep working at a pizza place until I can find a real job if need be :P

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Originally Posted by tweets_4611

I've heard of plenty of people doing this. And not just b/c of the economy either... I know of people that just haven't wanted to start working yet, so they go for their masters. At the career fair I went to a few weeks ago, some of the companies that I was talking to were saying that many of the students they were talking to said that they would be heading to grad school if it didn't look like it would be possible to get a job (and unfortunately most of the companies there weren't even hiring interns =/ ). I can't see doing it, but that's just b/c I want to be out of school....I'll keep working at a pizza place until I can find a real job if need be :P

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i work at pizza hut..and im offended

Hmmm.

Well....if you are going to go into debt I think the best thing to go into debt over is education; a lot of people go into debt buying stupid crap by maxing out credit cards, etc.

I don't think anyone can argue against taking out loans to get an advanced degree.

The only conceivable reason not to is that someone has kids and their minimum basic needs would be in jeopardy.

Barring that, I would have no problem going into debt while getting a Masters or a PhD. :)

Brandon

It all depends on what field you are in or aspire to be in.

On a side note the local news (Cleveland) just aired a piece about a junior high that had 700 applications for an entry level janitor position.
Jobs are out there......but not like it used to be.........

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Originally Posted by BrandonsBalls

Hmmm.

Well....if you are going to go into debt I think the best thing to go into debt over is education; a lot of people go into debt buying stupid crap by maxing out credit cards, etc.

I don't think anyone can argue against taking out loans to get an advanced degree.

The only conceivable reason not to is that someone has kids and their minimum basic needs would be in jeopardy.

Barring that, I would have no problem going into debt while getting a Masters or a PhD. :)

Brandon

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Good post, Brandon. Houses and education are your two best bets for going into debt....my friend that wants to buy a $3500 laptop...that might not be the best way to go into debt.

JonV

It partially depends on what field you want to go into and how expensive the grad school you want to go to is. For instance, I briefly looked into getting my masters, however the benefits of having a masters degree in web and graphic design were extremely not worth the extra 2 years tuition at the school I would be getting it from. Had it been some other field where a masters degree would have been more beneficial I would have gone for it, but in my field it really didn't make a lot of sense.

That said, I am now one of the many unemployed, having been laid off just before Christmas, and there are no available jobs in my field where I live. Yes, there ARE jobs out there and I could probably get one of them, but it's kind of not worth it when the unemployment check I get is more than the pay would be from one of those jobs. Better to let people who can't get unemployment take those jobs while I look for something that is actually in my field (and hope to actually find something before my unemployment runs out :rolleyes: ).

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Originally Posted by azpythons

i work at pizza hut..and im offended

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I work at a local pizza place here in town.... wasn't meant to be offensive. But I would rather take a minimum wage job, and work there until I can find something in my field...I'm not one of those people that's cut out for *more* school after I get done with my undergrad.

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Originally Posted by icygirl

I have actually overheard many people at my university talking about this. They don't think they can get a job when they graduate, so they are applying to graduate schools instead, hoping that when they get out of grad school the job market will be better and plus, they will have an advanced degree. Personally I don't think it's a good idea, because then you are stacking more student loans on yourself. It almost seems like gambling...

What do you all think, and have you heard of people doing this?

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My brother is doing this, but he'd be doing this regardless of the economy. He just likes going to school and working on interesting projects, doesn't want to be trapped in a cubicle on a tech support line or something else trivial.

I'm crossing my fingers he gets accepted into one of the Ph.D progs he applied to.

I personally got out of undergrad and decided "no more of this for me, I don't feel productive".

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Originally Posted by littleindiangirl

I didnt realize that people with masters were jobless.

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My brother (masters in computer science) has been applying to jobs while also applying to Ph.D programs. He worked a $12 dollar an hour job for 6 months until getting laid off in december. He was so good at his work that he did everything they needed, got their databases up and running, and they told him "ok the databases work now, thanks for your time here bye". Basically he was so good he worked himself out of a job.

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Originally Posted by mainbutter

Basically he was so good he worked himself out of a job.

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Been there, done that. And also been turned down for jobs because I was over qualified (who cares, I need the job!). :rolleyes:

I don't think furthering your education no matter the circumstance is a bad idea.

I did this 10 years ago. I graduated college with B.S. in Computer Science and didn't feel I could get a job with just that. I had spent my senoir year working for a Professor there and he offered me a Grad Assistant position that would basically pay me to go to school. I couldn't turn that down. Two years later I got my Masters. And it got me in the door and above other applicants.

It's a smart move, especially if you can land yourself a stipend and get your education without adding to the loans much.

I've actually looked into going back for my PhD or another master's even though I got my last master's over 12 years ago. The job market sucks right now, and pay is dropping fast in those jobs that are available. I might be just too old to get a stipend from any school though....bleh.

Honestly I really enjoyed graduate school and thought it really helped me understand my field a lot better....so if you can do it I recommend it - regardless of the economy.

I actually sort of did this. I graduated in 2005 with a BS in biochemistry. I had trouble finding a job in my field where I live (at the time I didn't want to move away). So after a year working odd jobs I went to grad school. I was going to go to grad school anyways, I just wanted to work a while and not be in school for a while.

Now I'm almost done with my master's in biochemistry. I was planning on working for a couple of years in industry and then go get my PhD, but with the things currently the way they are, I'm contemplating just going right back into school for my PhD.

I don't think its a bad idea. As you say , you'll graduate with a higher degree and have more earning power. And plus, pretty much any decent grad school has good student support. i.e. you can be a TA or RA and get a stipend, many also pay for graduate tuition through endowments. So for many fields, its easier to get through grad school w/o going into as much debt as undergraduate.