Key Takeaways:
- Grad school refers to any postgraduate degree program that you attend after earning a bachelor’s degree.
- Graduate degrees can be classified as a master’s, doctoral, professional, or certificate.
- Grad school deepens your knowledge and offers advanced training in a specific academic discipline.
As you near the end of college, you might wonder, “What is graduate school?”
Heck, that question can even be asked years into your career.
In both the office and the classroom, people throw around the terms related to it such as “MBA” and “dissertation” often enough to pique interest.
But what does going to graduate school actually entail? And does it help you reach professional and personal goals?
This blog offers the answers you need to decide whether to enroll in a program.
What Is Grad School?
Grad school refers to any postgraduate degree program.
You attend it after earning your bachelor’s and to obtain in-depth knowledge and advanced training in a specific academic discipline.
Students enroll immediately after graduating college or later in life, depending on their goals.
Types of Graduate Degrees
Graduate degrees typically fall into four categories:
- Master’s: Take around one to two years to complete and further your technical skills. Examples include Master of Arts (MA), Master of Business Administration (MBA), and Master of Science (MS).
- Doctoral: Build your expertise through original research in five to seven years of full-time study. Common types include Doctor of Philosophy (PhD) and Doctor of Education (EdD).
- Professional: Prepares you for a career that requires licensure and entails several years of hands-on training in addition to academic coursework. Examples include Doctor of Medicine (MD), Juris Doctor (JD), and Doctor of Dental Medicine (DMD).
- Certificates: Lasts about six months and provides you with focused training in a particular field. Common types include graduate certificates in data analytics and project management.
According to Education Data Initiative, 13.2 percent of adults 18 and older in the U.S. hold a graduate degree.
How Much Does Grad School Cost?
The cost of grad school depends on the program and the major.
For example, MBA students, on average, spend $60,410. If you want to obtain a doctoral degree, though, expect to pay around $98,015.
You can lower your tuition costs by submitting your Free Application for Federal Student Aid form and applying for scholarships.
Teaching assistantships make it more affordable too by allowing you to work in exchange for financial support.
Benefits of Grad School
Aside from developing expertise, other benefits of going to graduate school include:
- Higher earning potential and salary: People with a master’s, doctoral, or professional degree earned a median annual wage of $80,200 compared to $66,600 and $41,800 for those who held a bachelor’s degree and a high school diploma, respectively.
- Career advancement opportunities: Management and leadership roles often require candidates to possess a graduate education.
- Valuable connections: Grad school introduces you to accomplished professionals and ambitious peers who can open doors to jobs and partnerships crucial to your long-term success.
- Personal growth and development: You’ll be challenged intellectually, learning how to think critically and building professional confidence. Attending a graduate program showcases your credibility to clients and colleagues and signals your commitment to the profession.
Difference Between Undergraduate Degree and Graduate Degree
In theory, you earn a graduate degree just like your undergrad one – enrolling in courses and passing them.
However, they differ in several areas.
Undergraduate degrees:
- Mark the first level of college education after high school
- Focus on foundational knowledge across multiple subjects
- Take approximately four years to complete the required 120-130 credit hours
- Include courses often taught in large lecture halls to accommodate hundreds of students
By contrast, graduate degrees:
- Require completion of an undergraduate degree first
- Place a higher emphasis on original research, clinical work, and other specialized training and knowledge opportunities
- Involve smaller class sizes and personalized mentorship
Is a Graduate Degree the Same as a Professional Degree?
All professional degrees qualify as graduate degrees, but not all graduate degrees can be considered a professional degree.
As mentioned, professional degrees train you for a particular career, such as:
- Lawyer
- Physician
- Pharmacist
- Optometrist
- Clinical Psychologist
Master’s degrees and doctoral degrees equip you with the practical knowledge needed to succeed in a particular field. However, they also develop transferable skills that provide the flexibility to change career directions or to enter new industries.
For example, you could earn a Master of Arts in English and begin working as an editor. As you gain experience, you may find that your interests change and decide to switch into other roles that value strong writing and communication skills such as a high school teacher or a public relations associate.
Is Grad School Worth It?
Going to grad school will be worth it if:
- Your career requires it
- A graduate degree guarantees higher earnings, or
- Your job prospects increase
You shouldn’t attend if you just want to delay getting a job or don’t know what you want to do.
A study from Payscale found two-thirds of people with a graduate degree regretted their decision. Student loan debt ranked as the top reason, followed by dissatisfaction with their area of study – and without clear goals, you could subject yourself to those feelings as well.
Experience sometimes matters more too, and if that’s the case in your desired industry, building your portfolio may be a better use of your time than staying in the classroom.
Some questions to ask before applying include:
- How does a graduate degree fit into your long-term aspirations?
- How does the cost of a program compare with the potential salary increase?
- Can you handle the rigor of graduate school?
- Do people who go through the program land a job after finishing it?
How to Get into Graduate School (Step-by-Step Guide)
If you decide to further your education, you can obtain a graduate degree by following these five steps:
- Plan and research
Choose programs that align with your academic interests and other factors important to you such as cost and learning format.
You should start the process early, giving yourself plenty of time to collect everything needed for your application. - Take required tests and prerequisites
Entrance exams, such as the Graduate Management Admission Test (GMAT) or the Medical College Admission Test (MCAT), help grad schools assess your knowledge and determine whether to admit you.
You may also need to complete certain courses.
For example, Master of Science in Nursing (MSN) programs often require applicants to pass anatomy and physiology, microbiology, and chemistry.
You can take these courses online if you didn’t finish them during your undergraduate education.
Options such as Portage Learning allow you to complete them on a self-directed schedule, providing a more flexible and affordable path to your graduate degree. - Gain experience
Graduate school admission teams want to understand how you apply your skills outside of the classroom as well.
Relevant work, research, and volunteer opportunities demonstrate your commitment to the field, increasing your chance of getting in. - Apply
Submit applications to three to five programs that you’d like to attend. You’ll be asked to provide a copy of your college transcripts and the following materials:
- Reference letters
- Personal essay
- Resume
- Enroll and graduate
As the admission letters roll in, select the grad school that best fits your needs. From there, register for your first semester and create strong time management and study skills so you can earn your degree.
Should You Apply to Grad School?
Between your secondary and undergraduate educations, you spend 16 years in a classroom – and as that journey comes to an end, it may feel natural to stay or return a few years later.
But grad school requires more than a desire to keep learning.
You need clear goals that justify its investment and move you forward.
Still looking for answers?
Check out the FAQs about this article below.
