I can’t find a job! Should I go to grad school? | 05.21.10

Posted in Graduate Loans By Evan Jacobs

If you’re currently unemployed (or underemployed), you aren’t alone. Although the economy is beginning to recover from the recent global recession, many college graduates are still finding it very difficult to net a job. As it stands, the USA still hovers close to a 10% jobless rate. While this is improving slowly, it still does not change the level of competition in the marketplace.

If you are a recent graduate in this situation, odds are you have at least considered going to grad school to postpone your job search and deepen your skills. I graduated in 2009 and would like to share a few words of advice to help your decision-making process:

1) If you are a business major, an MBA program will be almost useless to you without full-time job experience.

Jarring I know, but it’s true. Fun fact: most admitted MBA students have an average of 3-4 years of work experience (MBAApplicant.com). If you want the best possible chance of getting into the school of your choice down the road while minimizing your debt, think twice about doing your MBA program right out of undergrad.

2) A part-time Masters degree can be a great compromise (and more affordable!)

Think about it. If you’re only taking one or two classes a semester, you can probably afford the classes more easily with less loan debt and even work full or part time alongside your classes. If you want some more information on full vs part-time programs, check out this blog.

3) If you’re concerned about paying back your loans, did you know that there are deferments available for being unemployed or making low income?

For more information, check out the Student Loan Network’s page on federal loan deferment.

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140 Responses to “I can’t find a job! Should I go to grad school?”

  1. christine says on June 16, 2010 at 9:01 pm:

    horrible economy, it will get better

    Reply To This Comment
  2. Jimmy says on June 15, 2010 at 11:11 pm:

    A lot of this seems to do with skill sets and available positions in your area…for instance, I do a bunch of stuff and have applied for jobs at many different places and no one has hired me – it's a crap shoot sometimes, whereas other times it's about viability – no one wants to hire someone who's underqualified, so grad school is really, really helpful.

    Reply To This Comment
  3. blanca says on June 15, 2010 at 10:23 pm:

    wow..great helpful information..the economy has ups and downs sadly..

    Reply To This Comment
  4. avers says on June 15, 2010 at 5:50 pm:

    interesting

    Reply To This Comment
  5. jenn says on June 14, 2010 at 9:50 pm:

    I'm new to this scholarship site and i've already learned more useful information in 10 minutes rather than writing essays about myself. I'm now enlightened that there is additional deferments for loans.

    Reply To This Comment
  6. Cara says on June 14, 2010 at 7:36 pm:

    The economy is tough, but as time passes it will get easier.

    Reply To This Comment
  7. sabrina says on June 14, 2010 at 12:43 am:

    i think number two is the best advice out of all

    Reply To This Comment
  8. lauren says on June 13, 2010 at 7:22 pm:

    completely agree!!

    Reply To This Comment
  9. kayla says on June 13, 2010 at 12:49 am:

    completly agree

    Reply To This Comment
  10. Razmik says on June 12, 2010 at 11:16 am:

    yes, you should. Thats what I am doing now

    Reply To This Comment
  11. SNemo says on June 12, 2010 at 2:17 am:

    GRAD SCHOOL IS SO IMPORTANT NOWADAYS!!! IT CAN FURTHER A PERSON'S CAREER SO MUCH!!!

    Reply To This Comment
  12. taisley b. says on June 11, 2010 at 10:27 pm:

    wow ok. i didnt know that. great to know. thanks

    Reply To This Comment
  13. Tiff says on June 11, 2010 at 5:36 pm:

    yes grad schoolers are having difficulty finding a job but when we are finally put back on the right track economically then because of the extra work you did for the degree.

    Reply To This Comment
  14. Taj H. says on June 11, 2010 at 4:35 pm:

    great info

    Reply To This Comment
  15. markee says on June 10, 2010 at 11:27 pm:

    agree

    Reply To This Comment
  16. Lerone says on June 10, 2010 at 2:20 pm:

    I'm on my way to grad school!

    Reply To This Comment
  17. Katrina says on June 10, 2010 at 12:30 pm:

    I agree 100% this is good info

    Reply To This Comment
  18. Audrey says on June 10, 2010 at 11:38 am:

    Very halpful information and great ideas to consider

    Reply To This Comment
  19. Lisbeth says on June 10, 2010 at 10:48 am:

    Thank you for the information! I am a business major that was considering continuing on after graduation while I looked for a job. Now getting strait to work will be the goal.

    Reply To This Comment
  20. Dinesh says on June 10, 2010 at 12:29 am:

    fantastic! thank you for the information!

    Reply To This Comment
  21. Ken says on June 9, 2010 at 9:26 pm:

    Thank, I definitely agree with you.

    Reply To This Comment
  22. Tess says on June 9, 2010 at 6:17 pm:

    The MBA program is very expensive, but the reward is great and opportunities increase.

    Reply To This Comment
  23. Julia says on June 9, 2010 at 6:07 pm:

    Very useful information!

    Reply To This Comment
  24. M. Mora says on June 9, 2010 at 3:56 pm:

    You should! I am!

    Reply To This Comment
  25. YaYa says on June 9, 2010 at 1:48 pm:

    Loans or not – it's still so overpriced. Starting to see a mentality (by those doing the pricing) that resembles medical health care costs: pricing most frequently based on an assumption of some kind of insurance…

    Reply To This Comment

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