Considering Grad School? 5 Questions to Ask First

So you’ve earned a diploma and landed a job — but you still want more. For many students, a graduate degree offers invaluable opportunities for personal and professional improvement.

Before you decide if grad school is right for you, these questions can help you pinpoint your goals and find the best program to help you achieve them. When you are ready to take the plunge, review our wide range of online graduate degree programs.

Why do you want to go back?

A graduate-level education requires a significant time commitment and financial investment, so it’s important to have a clear grasp on your reasons for returning to school. For many students, professional advancement is the biggest incentive; a graduate degree can increase promotability and bring financial rewards. A U.S. Census Bureau study shows that graduate school grads earn an average of $59,804 annually, compared to $45,221 for employees with a bachelor’s degree.

Beyond the professional advantages, a graduate degree can broaden your knowledge in a particular field. “Advancing my career was important, but it wasn’t the main reason I went to grad school,” says Aaron Shafer, a student pursuing an M.S. in software engineering at Penn State University. “I’m just trying to become an expert in what I do, and a master’s degree validates that.”

Personal growth is always an upshot of graduate education, says Dianne Pusch, the executive vice president of the University of Phoenix. “It opens doors they couldn’t have had access to before,” she says. “And it all starts with how that person changes by going through the learning process. Somebody goes in for a graduate degree and comes out a whole different person.”

Where should you enroll?

Once you’ve solidified your reasons for pursuing an advanced degree, the next step is deciding which school will offer the best education to suit your goals. If you’re unsure of the best route to take, Pusch suggests asking a mentor in your current or desired field to identify the most highly valued degree and the most renowned institution for that degree. Then examine the degree program at that institution, and search online for other programs that meet the same criteria. For example, if enrolling in Wharton for your MBA isn’t financially feasible, you may be able to find a more accessible business school with a similarly structured curriculum.

Prospective students should also consider the mode of delivery. For some students, online learning provides convenience and exposure to a diverse student body. “It’s a very rich learning environment,” Pusch says, “but it takes some self-discipline; it’s the offset for that richness. You need to be able to hold yourself accountable.” If you’re easily distracted or need the consistency of a set course schedule, a traditional school may be a more suitable choice.

When will you have time?

Balancing graduate school with a career is a difficult feat, albeit a common one. According to the National Center of Education Statistics (NCES), 75 percent of MBA students and 91 percent of M.Ed. students worked while pursuing their advanced degree.

But while someone pursuing an advanced degree in their field will often solicit support from their employer and colleagues, it can be trickier for those who are looking to switch fields. “That takes more balance,” Pusch says, “because they’re separating their lives into ‘who I am’ and ‘who I want to be.’” If you’d prefer to keep your grad-school plans under wraps — because, say, you’re pursuing a master’s in education so you can quit your job as a chemist — you’ll want to make sure you can fulfill the degree requirements without revealing your plans for a career change.

Who is paying for this?

The costs of a graduate education can be daunting, but with a little pre-planning, you can earn your advanced degree without racking up unmanageable debt. First, look into financial aid options, even if you didn’t qualify for assistance as an undergraduate. “Somebody who’s going to school for the first time gets a little bit of money,” Pusch says. “Somebody who’s at a grad level gets a lot of money, because they’ve already shown they have a successful track in education.” More than half of all students enrolled in a graduate or professional degree program will receive some form of financial aid, according to the NCES.

If your degree will make you more valuable to your current employer, ask about tuition reimbursement options. Pusch stresses that many companies are willing to invest in their employees’ education, because they’ll reap the benefits. “It expands your horizons,” she says. “It makes that employee more valuable to the organization.”

Tuition reimbursement also improves employee retention, which ultimately reduces recruiting costs. “They’re saying to their employees, ‘We value you and we want you to stay with us. There is a future here,’” Pusch adds.

What degree will benefit your career?

When deciding what type of graduate degree to pursue, the options are endless. Are you vying for a promotion at your company? Do you want a global perspective on your career? Does your dream job require professional certification? Whether you’re looking to refocus your education or to broaden your existing skill set, understanding your end goals can help you choose the right degree program.

“I wanted to get out of my comfort zone and expand my knowledge,” says Michael DaSilva, a mechanical engineer currently pursuing an MBA at Rutgers University. “Engineering master’s degrees really make you a specialized problem solver. I wanted more career options, not less—and the M.B.A. gives you the tools to help your company prosper.”

Pusch believes that a departure from your field can actually make you more valuable to your current industry, so don’t be afraid to branch out if another profession piques your interest. “Everybody’s tendency is to follow what they love,” she says. “The challenge is to flip it around and do something that is not in your innate skill set, and challenge yourself to learn that. Because when you come out, your skill set will be so much more developed.”

Understanding your own career goals, educational needs, and potential obstacles is key as you consider your plans for grad school. Although the process can be fraught with difficult decisions, the outcome of a graduate education remains consistent.

“People return to school at the graduate level because they’re thinking about opportunities that are greater than those they’ve been exposed to before,” Pusch says. “They want to make a bigger change in their life.”