Career Planning for College Seniors: An Argument Against Using Grad School to Hide From the Job Market

As you read this article, many college seniors are in the beginning stages of career planning. This time of transition can be difficult, and the economic climate isn't helping already-tough circumstances. Regardless, it's important to stay positive because a good attitude will be your #1 best friend as you muddle through confusion, or options that may be too many or too few. A few months from now, many of you will be happily (or not-so-happily) employed in your first real-world jobs.  Some of you will be in graduate school, and others will accept fellowships. Others will still be job hunting, while some may decide to take a break, volunteer, or travel. No matter where you end up, it's worth putting in a good try -- after all, your post-college future indoctrinates the rest of your life.

Some career advisers suggest avoiding the job market altogether. After all, jobs are few and far between, and those who are lucky enough to find jobs may be underpaid. If you're thinking of attending graduate school, now may be the best time, since this career path may present you with the best option.

At the same time, graduate school should not be a decision that a college senior should take lightly. No matter the economic climate, graduate school is anything but an escape and should ultimately be a means to help you further your career planning objectives. Don't automatically jump into a grad school program if you're unsure of what to do. Despite the economic climate, the better option may be to go and find work.

First of all, graduate school costs a lot of money. Depending on your institution of choice and field of study, a master's degree could end up costing you more than $100K. If you go straight to grad school after finishing college, the chances are that you haven't had a real income or an opportunity to save a substantial amount of money. Even though graduate school is a great experience, it is a lot of debt to take on if you're not prepared. Worst of all, you could end up graduating into a job market just like this one-- and in this job market, it's better to be without the debt.

Secondly, work experience gives you a clear perspective of how you can utilize a graduate school degree. Up until now, you've been in school, so you may not know what it's actually like to be a teacher or lawyer. Ultimately, graduate school costs money, and the degree that you pursue will probably have a specialization. It's good to know what you're getting into before you jump in-- whether the economy is good or bad.

Thirdly, graduate school requires a higher level of independence than college -- independence that you're not necessarily going to learn in college. It may be worthwhile to earn an income, manage your money, and learn how to file your taxes as an independent. These practical skills can help you understand the strategy of saving money in graduate school with respect to tax write-offs, grants, etc.

Make sure that you take the time to weigh your graduate school options against your career planning objectives. In no situation should graduate school be an escape from the bad economy.

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