By Katie Azevedo, M.Ed.
Getting a graduate degree is a big decision, and it’s not one to take lightly. It can open doors, boost your career, or deepen your expertise, but it can also cost you years of time and tens of thousands of dollars.
In this blog post, I cover the two kinds of graduate degrees, how to decide if one is right for you, when to consider graduate degrees, and even some alternatives to grad school that might be a better option.
Should You Go to Graduate School?
As with any important decision, it’s important to consider a variety of factors before choosing to go to graduate school. We’re going to dive deep into each of these factors throughout this post.
What Is a Graduate Degree? (The Two Primary Types)
A graduate degree is a specialized degree you can pursue after earning an undergraduate degree. In other words, after you complete four years of college and get a Bachelor of Arts (B.A.) or Bachelor of Science (B.S.), you can continue your education at a higher level.
There are two primary types of graduate degrees: Master’s degree and Doctorate (Ph.D. and professional doctorate).
Master’s degree: A graduate degree that gives you specialized expertise in a particular field. You can get a Master’s degree in various fields, including business, special education, social work, and public policy — just to name a few.
Doctorate: A graduate degree that emphasizes research and original contributions to a field. Not only do you gain advanced expertise, but you’re also expected to contribute new knowledge—often culminating in a dissertation. Doctorates include traditional Ph.D. programs, and also professional doctorates such as law (JD), education (Ed.D.), or psychology (Psy.D.).
Should You Get a Graduate Degree? (The WNC Framework)
A graduate degree can open doors, raise your salary, or be one of the most personally fulfilling choices you’ll ever make. But it can also be an expensive distraction if you’re doing it for the wrong reasons.
In episode 81 of my Learn and Work Smarter podcast, I share a decision-making tool I call the WNC Framework: Want, Need, Can. It can help you decide if enrolling in a graduate program (at this time) is right for you.
The WNC Framework
Want to: You want to go to grad school because you’re deeply curious, you crave the challenge, or it’s been a personal goal of yours. This is about internal motivation, not anyone else’s expectations.
Need to: You need the degree for external reasons. Some roles literally require it — therapists, doctors, lawyers, educators in certain states, etc. Maybe you’ve hit a ceiling and can’t advance without one.
Can: You can go to grad school logistically. You have the money, time, energy, and systems in place to handle the workload alongside your other responsibilities.
How to use the framework: if two out of three boxes are checked, you probably have a strong case for going. If you only check one box, it’s likely not the right time.
- Want + Need (but not Can) → You may need to wait until logistics make more sense. (i.e., more time or money)
- Want + Can (but not Need) → It might be about personal fulfillment, and that’s a valid reason to go for it.
- Need + Can (but not Want) → It’s probably a career requirement, so shifting your perspective might help you get over the hurdle of enrolling.
Who Is Graduate School For?
Graduate degrees are not for everyone, but they can offer significant benefits to the right people.
Again, I cover this in detail in my podcast, but here’s an overview of scenarios where having a graduate degree makes sense:
- People hoping to pursue professions that require advanced licensure
- Students who thrive in academic environments and want to deepen their expertise in a particular field
- People seeking a career pivot, where advanced credentials help open new doors
Who Is Graduate School NOT For?
First, consider the WNC framework I explain earlier in this post. If you don’t satisfy two of the three conditions, graduate school may not be the best choice.
Additionally, graduate school may be a poor decision if you’re using it as a way to delay decisions.
For example, if you’re about to complete your undergraduate degree and don’t yet know what career to pursue, don’t enroll in a graduate program just to do something. Instead, take some meaningful time to think about your future and make a more informed decision about the best next step.
When to Start Thinking About Graduate School
Okay, so you now understand how to use my WNC framework …but when is the right time to use it? In other words, when should you start thinking about grad school?
There’s no one “right” time. It depends on your goals, situation, and what season of life you’re in.
Pursuing a Master’s degree or doctorate immediately after undergrad can make sense if you have academic momentum and you already know what you want to do. You’re still in “school mode,” so the adjustment can sometimes be smoother.
The downside of this approach is that you may not yet have enough real-world clarity to know if you even need the degree in the first place, or if it’s the right degree.
Joining the workforce immediately after undergrad has its benefits, too. You’ll have more insight into your career path and your interests, and sometimes your employer will even help pay for it. In these employer-sponsored programs, tuition may be fully or partially covered, but sometimes there are strings attached, like having to stay with the company for a certain number of years.
On the other hand, it can be harder to step away from the workforce (partially or completely) to pursue grad school once you’ve got a paycheck, bills, rent, or a family.
Ultimately, the timing comes down to practical factors: your finances, your career stage, and your personal commitments. There’s no universal “best time,” but the best time for you is when the benefits outweigh the costs and when the degree will move you closer to your goals.
Personally, I enrolled in graduate school 10 years after I graduated from college, and I wouldn’t have done it any other way.
Types of Graduate Programs
Not all graduate programs look the same, and the format you choose can impact your experience.
Traditional full-time grad programs: These are immersive. That means you’re taking classes full-time, often on campus, and school becomes your main focus, much like undergrad. This can be the fastest path to finishing, but it’s also the hardest to balance with a job, family or other responsibilities. (Here are my best grad school study tips, which can make the balancing act easier.)
Part-time or evening programs: These are usually most optimal for working professionals. You can keep working your regular job, attend classes at night or weekends, and pace yourself by taking fewer courses at one time. Part-time programs take longer to complete.
Online or hybrid programs: These programs have more flexibility, and for some students (and professionals), that’s the only way grad school practically fits into real life. The trade-off to online programs is that you have fewer hands-on experiences, less (or no) face-to-face interactions, and reduced connections with your professors and classmates.
What’s the ROI of Grad School?
Graduate school is an investment, and just like any investment, you have to weigh the return. In other words, will you get more from it than you put into it?
Costs:
- tuition
- fees
- debt
- lost income if you cut back on work
- time and energy to complete the program
Benefits:
- potential salary bump
- career advancement
- credibility
- confidence
- networking and connections
Note: Each industry comes with its own costs and benefits, so do your research on your specific industry to weigh the true pros and cons of an advanced degree.
Alternatives to Graduate School
Grad school is just one way to get advanced knowledge, skills and credibility. Depending on your goals and field, there may be quicker, cheaper, and more direct ways to advance your career.
Note: Curious about the most important skills you could have in your career? The 6 I teach you inside SchoolHabits University.
Professional certifications or licenses: These can carry more weight in certain industries than full graduate degrees, and the obvious benefit is that they cost less than a degree.
Industry-specific training programs: These can be weekend programs or sometimes just a few months long. These are much quicker than a graduate program, but sometimes just as effective at opening doors to new jobs or promotions.
One-off courses: Sometimes you don’t need a whole grad program or even a certificate. Sometimes all you need is a single course offered by a community college or online institution to develop a skill in one particular area. Examples include Photoshop, Excel, real estate staging, and food safety.
The bottom line is that before you commit to a graduate program, make sure you’ve at least considered the other routes. For some people, these alternatives can get you exactly what you want for less money and less time.
Final Thoughts: Is Grad School Right for You?
Graduate school can be a wise investment or it can be a really expensive distraction. The difference comes down to why you’re doing it, when you’re doing it, and whether you have the resources (time, money, energy) to make it work.
Use the WNC framework (Want, Need, Can) as your guide. If two out of three boxes apply to you, it may be a good choice. If only one is true, it’s likely not the right move or the right time.
And don’t forget, grad school isn’t the only way to grow your skills or advance your career. Certifications, shorter programs, or targeted work experience can sometimes get you further in less time.
Ultimately, the goal isn’t just to collect more degrees for the sake of putting letters after your name. The real goal is to figure out the life you want and then do what you have to do to make it happen.