Testing the Water: Are You Ready for Graduate School?

We feel your pain. You've been out of college for a couple of years, dabbled in some entry-level jobs, and feel like you're going nowhere. Or: You're about to graduate from college, are uninspired by the job market, and dread the thought of leaving academia behind. Or: You've been working within the professional world for a decade--and have actually made some kind of mark--but are feeling unfulfilled and hungry for a new challenge. Sound familiar? If so, you may be flirting with the possibility of heading to graduate school for a fresh beginning.

Your investment in grad school should be the result of carefully considered goals and interests, not panicked career crisis. Don't get us wrong--we understand if you feel stuck, and grad school might just be the thing to un-stick you. But it's no guaranteed cure-all, and should not be decided upon hastily. Before committing yourself to years of further education and (most likely) financial debt, make sure that you're choosing a grad school program because it makes sense within a larger plan, and not because you're frustrated with your current job or feeling discouraged about the economy.

It's not a good sign if, when people ask you what you think you'll do next, you respond, "I want to go back to school" without knowing what you want to go back to school for. While no one expects you to know your dissertation topic upon entering a PhD program or your single area of expertise upon entering law school, you should have a clear sense of your field of interest--as well as the potential professional extensions of that field--upon submitting in your applications.

Though you may not want to start thinking already about what comes after grad school (getting there in the first place seems stressful enough), this question could prove the most crucial when deciding whether or not to return to school for an additional degree. Research your chosen field and contact professors or other knowledgeable advisors about what you'll actually be able to do with your degree after graduation.

If you've recently come into an inheritance or your trust fund is burning a hole in your pocket, you can skip this question. For the rest of us, the financial repercussions of attending graduate school will have an impact on the decision to return to school. While most PhD programs are fully funded-and might also grant you a stipend to cover living expenses--master's programs offer less financial assistance and often require taking out loans to cover your tuition and/or the cost of living. Of course, this is no reason to back away from the graduate school plan. A well-chosen program is an investment in your future, and, theoretically, you will be able to pay back your loans when you have become professionally established. In addition to this consideration, keep in mind that many schools do offer financial aid, merit scholarships, and student loans with manageable interest rates. If you are thinking of attending a master's program, you can also look into the possibility of going to school part-time while you hold down a job to cover the rent.

Your answer to this question will probably depend on whether you are looking at graduate school as a way to jumpstart your career or at academia as an end in and of itself. Master's programs commonly last one to two years, and should provide you with the foundation necessary to build a profession afterwards. PhD programs can last as long as eight years and often follow the assumption that you will remain connected to academia--as a professor or researcher--after earning your degree. Remember that within some programs, you can enroll for a master's degree and later choose to pursue a doctorate if you are so inclined; conversely, you can enroll in a doctorate program and leave after earning your masters if the academic lifestyle fails to entice you further.

The calendar for graduate admissions varies. Applications for most PhD programs are due in December or January; applications for master's programs tend to be due in January through March; and it's a good idea to get applications in to law schools some time in November (though official due dates commonly fall in December). No matter which program you choose, you'll most likely need to allow more than a couple of months to get your applications in order: taking the GRE, the LSAT, or any other standardized test; asking professors for recommendations; writing your personal statement; and researching schools and deciding where you will apply. You might be able to scrape together your applications if you decide to take the plunge in November, but you'll be happier with your application package if you start preparations in August or September.

If you are hungry for a new challenge and are prepared to sacrifice some of the free time that comes with a nine-to-five job, you should be A-okay. Different programs require different levels of commitment: a master's program might leave you with your weekends free, while the early years of a PhD program will likely require round-the-clock study. As long as you keep your eyes on the prize, your necessary lifestyle adjustments should feel well worth it.

No way. Many programs appreciate candidates who have taken some time to put their careers in perspective, and might even prefer them. If you're nervous about getting back into the academic swing of things, take a deep breath. Before you know it, you'll be highlighting and note-taking like a pro. If you are really nervous, you can ease your transition by taking a class or two as a non-matriculated student in your field of study before heading back to the classroom full-time as a degree-seeking student.