Lately, there has been a severe increase in the number of people I know, whom are pursuing Masters degrees, and a few have graduated. Many are making a big fuss about it, that they need to get the Masters to make more money or because they need it as an accomplishment in their lives. Fine.
They have my condolences.
Well, allow me to clarify...you see, I have nothing against higher learning. I believe that if someone is within the means of it and has the gumption for it, go forth and edjumacate yourself! However, some of these people took out a loan just for their Bachelor's, which added with the probable loan taken out to pay for their Masters...they're looking at decades of paying that shit off. Oh, sure: one could argue that people with Masters degrees earn more, as it's been plastered all over the media and universities, and in certain cases, this is actually true! However, what they fail to acknowledge is that not all degrees are quite worth the effort as all degrees are equal, but some are more equal than others (literary references are awesome).
Take, for example, two people: One is a mechanical engineer and the other is an Asian studies graduate. They both decide to go for their respective graduate advancement programs, they graduate and then begin their careers. It's a no-brainer who's gonna be making the serious bucks and who's gonna be paying back a loan for the next 34 years (assuming they get a decent enough job related to their field). Hell, if you take into account interest rates for loans, income and adjust for inflation/cost of living, there's a good chance that even the engineer won't see net profit unless he/she makes closer to 200-300k a year and pays more than the minimum for their loan.
It almost seems like some of these people fail to realize several factors working hard against their ideas, namely:
1) Employers look more for experience, rather than education. Someone with 2-years work experience has more chance than someone with just a Bachelors. The same could be said about 4-years work experience and a Masters.
2) Generally Masters are sought after once you've been in the workforce after some time. This whole 'get a Masters right after a Bachelors' is kind of a novelty, which stems from universities wanting more cash. If you rolled your eyes and scoffed at that last sentence, remember that universities are more like businesses: they care less about your education and more about making cash.
3) Living is fucking expensive. No, seriously; eating, going out, car maintenance, house/apartment maintenance, bills, repairs, miscellaneous expenses...there's a reason why debt runs rampant around the world.
4) Unless they're making over 60k a year, or have a veritable shitton of scholarships/grants/savings, they're simply not making enough cash.
5) "Learning" has become easier, in that classes are significantly easier to accomplish than they used to be. This sounds like a positive thing, except that because of that, a Masters will soon start losing its appeal and soon employers will want people with fucking PhDs. There's a reason why nowadays a "Bachelors is good to wipe your ass with, and you need a Masters" (at least, according to schools and/or the media).
In essence, they're screwing themselves up by bending over and letting banks and schools ram loans up their asses, and they don't see it coming. [I seriously didn't plan for that pun, honest.]
So, please, if you know someone that is wanting to pursue a graduate program and fit the aforementioned bill of not having enough money/taking out loans/is inexperienced: tell them to get their heads out their asses, 'cause the lack of oxygen is preventing them from using their fucking brains.
"El costo de la vida sube otra vez..."
- Cee
PS - If you've the means to do it, however, I thoroughly recommend attaining a better degree, preferably an MBA.
Further reading:
http://www.thewisdomjournal.com/Blog/is-a-masters-degree-really-worth-it/
http://roomfordebate.blogs.nytimes.com/2009/06/30/what-is-a-masters-degree-worth/
http://money.msn.com/college-savings/is-a-college-degree-worthless-smartmoney.aspx
Or type "Is a Masters degree worth it?" into Google. Derp.
They have my condolences.
Well, allow me to clarify...you see, I have nothing against higher learning. I believe that if someone is within the means of it and has the gumption for it, go forth and edjumacate yourself! However, some of these people took out a loan just for their Bachelor's, which added with the probable loan taken out to pay for their Masters...they're looking at decades of paying that shit off. Oh, sure: one could argue that people with Masters degrees earn more, as it's been plastered all over the media and universities, and in certain cases, this is actually true! However, what they fail to acknowledge is that not all degrees are quite worth the effort as all degrees are equal, but some are more equal than others (literary references are awesome).
Take, for example, two people: One is a mechanical engineer and the other is an Asian studies graduate. They both decide to go for their respective graduate advancement programs, they graduate and then begin their careers. It's a no-brainer who's gonna be making the serious bucks and who's gonna be paying back a loan for the next 34 years (assuming they get a decent enough job related to their field). Hell, if you take into account interest rates for loans, income and adjust for inflation/cost of living, there's a good chance that even the engineer won't see net profit unless he/she makes closer to 200-300k a year and pays more than the minimum for their loan.
It almost seems like some of these people fail to realize several factors working hard against their ideas, namely:
1) Employers look more for experience, rather than education. Someone with 2-years work experience has more chance than someone with just a Bachelors. The same could be said about 4-years work experience and a Masters.
2) Generally Masters are sought after once you've been in the workforce after some time. This whole 'get a Masters right after a Bachelors' is kind of a novelty, which stems from universities wanting more cash. If you rolled your eyes and scoffed at that last sentence, remember that universities are more like businesses: they care less about your education and more about making cash.
3) Living is fucking expensive. No, seriously; eating, going out, car maintenance, house/apartment maintenance, bills, repairs, miscellaneous expenses...there's a reason why debt runs rampant around the world.
4) Unless they're making over 60k a year, or have a veritable shitton of scholarships/grants/savings, they're simply not making enough cash.
5) "Learning" has become easier, in that classes are significantly easier to accomplish than they used to be. This sounds like a positive thing, except that because of that, a Masters will soon start losing its appeal and soon employers will want people with fucking PhDs. There's a reason why nowadays a "Bachelors is good to wipe your ass with, and you need a Masters" (at least, according to schools and/or the media).
In essence, they're screwing themselves up by bending over and letting banks and schools ram loans up their asses, and they don't see it coming. [I seriously didn't plan for that pun, honest.]
So, please, if you know someone that is wanting to pursue a graduate program and fit the aforementioned bill of not having enough money/taking out loans/is inexperienced: tell them to get their heads out their asses, 'cause the lack of oxygen is preventing them from using their fucking brains.
"El costo de la vida sube otra vez..."
- Cee
PS - If you've the means to do it, however, I thoroughly recommend attaining a better degree, preferably an MBA.
Further reading:
http://www.thewisdomjournal.com/Blog/is-a-masters-degree-really-worth-it/
http://roomfordebate.blogs.nytimes.com/2009/06/30/what-is-a-masters-degree-worth/
http://money.msn.com/college-savings/is-a-college-degree-worthless-smartmoney.aspx
Or type "Is a Masters degree worth it?" into Google. Derp.