If you’ve met anyone who has a graduate-level degree, they might have talked your ear off about how beneficial it is to have one. For the rest of us normal folk, it can seem like an awful lot of work and an awful lot of money. However, no one can deny that getting a Ph.D. isn’t without merit. But which way does the cost versus benefit scale tip?
Make no mistake that once you make the decision to go for the graduate level, it means serious business. Aside from the tuition costs, it takes a lot of physical and mental strength to get through it. It requires a massive amount of time and commitment, and not to mention the willpower to satisfy graduate-level professors who demand nothing but the highest level of performance.
On the other hand, having an MS or Ph.D. at the end of your name is a gamechanger. You will be privy to career opportunities that aren’t available to others, and you can earn a very decent living. Let’s not forget the respect and prestige that comes with it as well.
If you’re willing to put in the work, there are numerous benefits to going for graduate-level education. Here are 5 pays that graduate school can pay off:
You’re the Cream of the Crop
Let’s face it: gone are the days when a high school diploma is seen as something worth anything. Nowadays, it is a basic requirement, like knowing to speak your native language fluently. A bachelor’s degree, while way more valuable, is also a basic requirement when it comes to most skilled jobs.
To identify the best candidates, the “cream of the crop”, if you will, employers are turning their attention to candidates with graduate degrees. They know that if one has a Ph.D. or MS, they have put in a lot of dedication, effort, and money to get the title and therefore will put the same amount of effort into their jobs.
With today’s intensely competitive job market, anything that can give you an edge over others is valuable. And that’s what a graduate degree does for you. It opens up opportunities that aren’t available to those with just a BA, and speaking of which…
You Get Paid More
There is a significant economic advantage to having a graduate-level degree because there are certain high-paying jobs that are reserved for only the best of the best – which is an exclusive club that a Ph.D. gets you into. In some cases, employers are even ready to offer you a larger remuneration package to do the same job as someone with lesser qualifications!
This is due to a simple equation of logic: more qualifications = more money.
Employers know that those with graduate-level qualifications have worked hard to get them, and therefore are individuals who are experts in their fields and have all the qualities of a good worker. They are more inclined to keep you happy so you will stay put. You will enjoy benefits such as high pay, better benefits, and job security.
You will also get the benefit of being picky about what you choose to do. You are more eligible for grants that can help pay for research or projects that you really want to do.
We keep referring to getting a graduate-level education as if it is part of an exclusive club, but that’s only because it sort of is. When you have such a qualification, the people you surround yourself with, at work, or even in social situations are mostly of the same caliber.
These people are well educated and successful in their fields of work, which is a pretty powerful network to have for oneself. They will help you get better job or research opportunities – ones that aren’t going to be as accessible at a bachelor’s level. You can almost guarantee things like high-quality work, job satisfaction, high pay, and job security.
You get your pick of the job market when you have a graduate-level degree in your arsenal. All the diverse fields you would have been exposed to during the course of your degree will come in handy when it comes to job opportunities.
You could do everything from teaching to working high-paying contract work, doing highly skilled industry research, or writing specific grants. Some of these are not open to those at the Bachelor’s level, so there is very little competition for such roles.
Respect & Prestige
There’s a certain level of prestige and respect that comes with the title of Ph.D. Apart from getting high-paying jobs and serious positions, you will be looked upon as an expert who has immense knowledge and experience in your field.
Your world will be one with much better opportunities, from being treated with dignity wherever you go to having opportunities like publishing in the best peer-reviewed journals, teaching at the finest universities, or working in the best companies.
And let’s not forget the rush of being called a “doctor” of your field!