Is A Grad School Worth The $$?

Hello Friends!

Let's chat about the golden ticket of education – the graduate degree. I've seen trends come and go, but is that extra piece of paper still worth its weight in gold?

Here's the scoop: The income game is changing and playing hard to get. According to the National Association of Colleges and Employers, the pay gap between undergrad and grad degree holders has tightened from 31.8% in 2017 to 22.5% in 2021. It's like the salary Olympics, and the competition is fierce.

But hold onto your hats because here's the twist – the cost of getting that prestigious piece of paper is sprinting ahead. Tuition and fees for advanced degrees are growing faster than the income boost you get for having them. It's like buying a fancy car and realizing it doesn't come with keys.

You might be thinking, Is the paper worth the $$? Well, let's talk numbers. The average grad student is shackled with a $57,000 debt ball and chain, while our undergrad pals are cruising with a $27,000 backpack of debt. And if you're on the med or law school train, that debt jumps to $176,000. That's a mortgage on education right there.

But here's the silver lining – employers are changing their dating game. They're less impressed with the pedigree and more interested in the tricks you've got up your sleeve. It's not just about the degree; it's about the skills you bring to the table. They've realized you don't need a culinary degree to cook a mean spaghetti bolognese.

So, is the grad degree still worth it?

It's like asking if the latest iPhone is worth the upgrade – it depends on what you need and are willing to pay. But remember, the world is changing, and sometimes, it's the skills you bring to the potluck that make you the life of the party. Keep hustling, keep learning, and remember, my friends; education is a journey, not just a destination.

Bob Stone