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CC posted it already. I'm not paying for my graduate degrees when I get them and since I want to do research I have to go the PhD route. Its stupid to include it in that list since virtually no one pays for a grad degree in atmospheric science.
http://www.foxbusiness.com/personal-...-dont-pay-off/
In today's tough job market, many recent college graduates are enrolling in graduate programs to enhance their credentials and gain an edge with hiring managers. In some cases, the tactic may lead to lucrative job opportunities. A recent report from Georgetown University's Center on Education and the Workforce found that a graduate degree can boost an individual's earning power by more than 40% in some fields -- but the true value can vary wildly from industry to industry.
In disciplines such as medicine, for instance, an advanced degree can provide a 190% salary increase over a pre-med-focused bachelor's degree, according to the Georgetown study. For other programs, the return on investment isn't as certain: In some cases, available job opportunities are scarce or low-paying, or employers may value relevant work experience more than another diploma.
Particularly if you're planning to take out loans to attend graduate school, it pays to know what your realistic job prospects are, says Liz Pulliam Weston, a personal finance author and columnist for MSN Money. "A lot of schools will take your money and get you trained for jobs that don't exist," she cautions. "Take a buyer-beware at ude."
Master of Fine Arts Degrees
Students can obtain Master of Fine Arts, or MFA, degrees in disciplines including studio arts, creative writing, the performing arts and art criticism. Tuition costs vary, but at New York University's Tisch School of the Arts, for instance, students can expect to pay more than $22,000 per term, plus the cost of housing, course books and other expenses.
That investment isn't likely to pay off: The Georgetown study saw just a 3% boost in income potential for studio arts MFA graduates.
Kristen Harris, owner of Portfolio Creative, a staffing agency in Columbus, Ohio, says her recruiting clients always favor candidates with relevant experience and work samples over those with graduate arts degrees. "It's hard to get that first work opportunity if you don't have that education and training, but after that, it's your portfolio and experience that speaks louder than your degree."
Computer Engineering
Computer engineering is a booming industry for job growth. The Bureau of Labor Statistics estimates that the market for software developers will grow by 30% between 2010 and 2020. Computer programmer jobs are growing at a 12% pace, which is about average. However, in most cases, there is little benefit for job seekers who go beyond a bachelor's degree in the field.
The Georgetown study saw just a 16% boost in pay for students with graduate degrees in computer engineering.
Paul Silvio, senior vice president at Modis, a large information technology recruiting firm, confirms that his client base doesn't place a high priority on graduate education. "The vast majority of jobs in IT are hands-on, where employees are utilizing a specific technology or skill set," he says. "Candidates grow their expertise by growing their skill sets and interpersonal skills," he says, rather than pursuing further academic qualifications.
PR, Advertising and Mass-Media Programs
The growth outlook for public relations positions is good, according to the Bureau of Labor Statistics. The field is expected to grow by 21% between 2010 and 2020. However, as with the computer engineering industry, hands-on experience is more important than graduate degrees for job seekers. "The graduate degree doesn't really get you anywhere," says Weston.
Harris says her clients who need creative and marketing talent aren't seeking candidates with graduate degrees. "Generally, we don't get clients looking for an advanced degree unless they're looking for a higher-level strategy focus," she says.
In that case, however, they're typically seeking applicants with a Master of Business Administration, rather than communications-focused degrees. According to the Georgetown study, employees with graduate degrees in advertising and public relations can only expect an earnings boost of 12% for their diploma; mass-media students might see an 11% increase.
A Law Degree From a Fourth-Tier School
The number of law school graduates rose by 11% between 1999 and 2009, according to The New York Times, yet the paper also reports that 15,000 attorney and legal staff positions were eliminated between 2008 and 2011. For law students -- especially those from bottom-ranking schools -- a high-paying job is no sure thing.
A 2011 National Association for Law Placement survey found that, while 88% of 2010 law school graduates were employed, not all grads had positions in their field. Nearly 9% worked in "other capacities," and 11% worked part time. And while 18% of 2010 graduates were able to obtain starting salaries of around $160,000, nearly half of reporting graduates were making annual salaries that fell between $40,000 and $65,000.
No matter the quality of the law school, the education is pricy, and most students must obtain loans to pay tuition. Near the upper end of the spectrum at San Diego's Thomas Jefferson School of Law -- where 94% of the student body took out loans -- students graduated with an average of more than $153,000 in student loan debt, according to U.S. News and World Report. That kind of loan will take a long time to pay off on a $50,000 salary.
Atmospheric Sciences and Meteorology(sorry Manny)
The atmospheric science field pays reasonably well. The Bureau of Labor Statistics found a median salary of $87,780 for all atmospheric scientists, including meteorologists. Median represents the midpoint pay, so half receive higher pay and half receive lower. Graduate education in the field is necessary for many research-focused positions at universities. However, government and private sector positions rarely require graduate education.
To that end, job seekers looking for a substantial income boost by obtaining a master's degree or Ph.D. in the field will be sorely disappointed. Georgetown found a minuscule 1% increase in salary for employees with graduate degrees in the field. In this case, students should only pursue a graduate degree if they are truly interested in furthering their own education, rather than getting a bigger paycheck.
CC posted it already. I'm not paying for my graduate degrees when I get them and since I want to do research I have to go the PhD route. Its stupid to include it in that list since virtually no one pays for a grad degree in atmospheric science.
Yes, stay away from Computer Engineering...
No one pays for them?
Of all the grad students I know who just got their degrees, the MFAs are the only group who all got hired immediately.
Anecdotal, of course, but still...
From a financial perspective, this may be dead on. However, it is important to remember that not all people are motivated by money.
Paul Silvio is full of . Gotten plenty of jobs over other ppl due to having graduate degree
truth is when there are few equivalent candidates considered I'd pick the one with graduate degree 10/10 times
The law degree one is dead on. Unless you go to at least a good law school and kick ass academically, there's no jobs for law school graduates right now. I'm not sure why so many people I know are going to law school. Even in a good economy, America has had a surplus of lawyers for awhile now.
Yeah, there are St. Mary's graduates coming to my wife's office and offering to work for practically minimum wage just to get a legal job on their resume.
of course. I thought that was common sense. You better have the experience to go along with your graduate degree, or else it's worthless.
When my son was in high school and wanted to be an attorney I warned him that if that's what he wanted to do he was going to have to make good undergraduate grades, kick ass on the LSAT and get into a top tier law school because I knew a bunch of brokeass attorneys that graduated from third and fourth tier schools.
it's saying that just a 4 year will suffice, getting the masters won't make your pay go up much.
btw, does south texas college of law fall into that category?
Different people experience fulfillment from different activities. Don't hate, son.
I'd pick the person with more skill and experience.
The irony... A new medical school graduate from a low tier US med school or international school (Mexico, carribeans) could get a great residency with great USMLE scores.
Great residency = great paying job
I'm just saying I want the market cornered, tbh...
real talk i noticed the other day that salaries in computer related fields have been dropping from what they used to be. i guess everyone flocked to it, same will happen with nursing. nursing will be like teaching in the future, RN salaries are already down to 64,000. sure you'll be able to get a job, but itll be dirty and hard work for the amount of pay.
And I married an RN... FML
Then they aren't truly equivalent -- to you.
rofl sounds about right
Even the big firms that are still hiring aren't paying near what they used to to new associates. Some have even cut the starting wage over 50% since 2008.
Well getting into a low tier US med school is a lot harder than a low tier US law school. Getting into law school is pretty easy if you're applying to the lesser ones. ASU's law school accepts pretty much anyone with tuition and an asshole.
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