Grad School Brightens Dim Job Prospects

College of Communication senior Juno Kim never planned on going to graduate school when she first decided to pursue a major in advertising.

A gloomy job market, however, has caused her to seriously consider staying in school as an alternative to potential unemployment, a situation she said many of her friends are currently facing.

‘I’m definitely worried about the market,’ she said. ‘Some of my friends who graduated last year have either gotten laid off or still haven’t found a job.’

Though she said the price of staying in school is definitely a concern for her, she is worried her job opportunities in the field of advertising will be limited, especially because of the current economic crisis.

‘I don’t even know what I would go to grad school for yet, but I know the longer you stay in school the more money you can make when you get out,’ she said.

GROWTH IN GRE VOLUMES

The Graduate Record Examinations General Test is the graduate school counterpart to the SATs high school students take before entering college.’ Most graduate school applicants are required to take the GREs, which are administrated by the Educational Testing Service, according to ETS Manager of Media and External Relations Mark McNutt.

Although McNutt said the number of administrated GREs has decreased by two percent in 2008, this past September saw more GRE registrations than any other single month, which he said is not uncommon during a recession.

‘Even though we’ve seen a two percent drop in the year after, I think it is fair to say interest has leveled off,’ he said. ‘[Around September 2008] we had record GRE registrations for any other single month before. [This was] the time at which the economy became a real crisis in the psyche of the American people.’

The total number of registrations for the GRE in 2008 and 2007 were 621,000 and 633,000, respectively. This is a marked increase from past years, such as 2005 when total registrations added up to 539,000, according to McNutt.

The cause for increased registration cannot be known for certain, but McNutt said it is likely that the economy has played a significant role, in addition to a recent advertising campaign by the ETS.

‘We initiated a campaign to encourage college juniors and seniors to take the GRE; it was likely both,’ he said. ‘The truth is that we do not have any definitive answers on why we saw a significant increase in September, but I’m sure the economy played a role.’

As unemployment is expected to continue to rise in 2009, McNutt said he expects registration to take the GREs will rise as well.’

‘We expect strong interest in graduate school education [in 2009],’ he said. ‘We believe that because more and more MBA programs are accepting GRE that it will drive interest. We think the economy will continue to play an important role here as well, as students weigh their options and workers look to bolster their competitiveness in the workforce.’

APPLICATION NUMBERS ON THE RISE

Although many colleges and universities are still processing applications or have not reached their deadlines, there has already been an increase in this year’s graduate school applicants, according to graduate schools in the Boston area.

Although BU School of Law is still processing applications and has a deadline in March, it has already seen a rise in applicants, according to School of Law Director of Admissions and Financial Aid Alissa Leonard.

Leonard said it is hard to generalize what, specifically, has motivated more students to apply because of each student’s individual situation, but she is sure the economy has had an effect.

Similarly, Bentley College Assistant Dean and Director of Graduate Admissions Sharon Hill said the school has seen an increase in applications for some of its programs, but not all of them.

Hill said Bentley has also seen approximately a twenty percent increase in applications for their full-time MBA program and a forty percent increase in applications for their accounting and finance program two years in a row.

‘What we’re seeing is that more younger people are going to be applying to grad school because of those [economic] reasons,’ Hill said. ‘They haven’t incurred debt yet, hopefully, and they may not be able to get a job right away, so they figure while they have the time, they can go to graduate school.’

BU College of Arts and Sciences Assistant Dean for Premedical Studies Glen Zamansky said economic downturns often lead to an increase in applicants in the health field as well.

‘Despite changes in the healthcare system over the past ten to twenty years, many students continue to view a career in the health professions as an excellent means to assist others and to contribute to the overall well being of society, as well as a stable source of income,’ he said.

The Council of Graduate Schools Manager of Government Relations and External Affairs Stuart Heiser said the last economic downturn in 2001 did not have an effect graduate school applications until the following year.

‘The recession occurred entirely within 2001, but that year applications increased six percent,’ he said in an email. ‘The following year, 2002, application growth doubled, to 13 percent. However, we cannot yet say whether this will hold true for the current recession.’

GRAD SCHOOL VS. JOB MARKET

While graduate school has become a popular alternative to entering the unwelcoming job market, some career advisors said students should be aware of the pros and cons before deciding to stay in school longer.’

Lesley University’s Senior Associate Director of the Career Resource Center Alison Angell warned students to be clear of their career goals before the graduate school admissions process.

Whether a student chooses to go to graduate school or enter the job market, it is a very individual decision that is based on their personal interests, financial situation and long-term career goals, she said.

‘It is a big financial undertaking, so there should be some clarity,’ she said. ‘Students should make informed decisions and research what happens after they get that higher degree.’

However, as continued layoffs and downsizing have left many students wary of the job opportunities available to them after graduation, graduate school remains an appealing alternative to students.

CAS senior Shelly Cooper said she has been searching for a job since October. As a psychology major, she said she is specifically looking for a job in research and the process has been somewhat difficult.

‘It’s hard because of the economy, in the sense that grants aren’t being given out as much,’ she said.

Cooper said the economy has forced her to alter her job expectations slightly, but trying to find opportunities in the sciences has been easier than it would have been in other fields, like finance.

Sargent College of Health and Rehabilitation Sciences senior Samantha Peabody said she had considered entering the job market right away as a way to avoid spending more money and accumulating debt. Her major, however, leaves her very few job opportunities, she said.

‘Because the economy is so bad, it’s better for me to go to grad school,’ she said. ‘It’s definitely more comforting knowing that after grad school I will actually be able to get a good job with a good salary.’