📺 Stream EntrepreneurTV for Free 📺

The Case Against Grad School (Infographic) Thinking about going back to school? Read this first.

By Rose Leadem

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Hero Images | Getty Images

From massive student loan debt to a largely competitive landscape, there are a number of reasons why people don't pursue grad school today. However, before crossing it off your list completely, it's important to learn more about it.

Related: How Entrepreneurs Can Balance School and Business

In 2001, a reported 473,502 Master's degrees were awarded. That number increased a whopping 60 percent by 2015, with 758,708 people awarded Master's degrees. What are most of these people studying? The top graduate programs as of fall 2016 were social and behavioral sciences, engineering and biological and agricultural sciences. And today, more and more of these graduate students are women, with many of those individuals the firsts in their families to go. In fact, approximately 63 percent of first-time graduates are women.

Related: Top 25 Best Grad Programs for Entrepreneurs in 2018

Of course, there are many cases as to why someone would or wouldn't pursue grad school. The average debt for a person getting their MBA is $42,000. Sound like a lot? For aspiring doctors or medical experts, the average debt is $161,772.

Depending on what you want to do in the long run will help determine if a graduate's degree is necessary. On the bright side, people with graduate degrees typically have higher salaries, more access to job opportunities and professional connections.

Related: It's Never Too Late to Get Your Graduate Degree

So if you want to go back to school and get another degree, don't be discouraged by financial or social pressures. There are a number of fellowships, scholarships and other financial options to help you get there. And if you're feeling trapped on time, you can also explore online schooling options.

To learn more, check out Mastersprogramsguide.com's infographic below.

Rose Leadem is a freelance writer for Entrepreneur.com. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

Passengers Are Now Entitled to a Full Cash Refund for Canceled Flights, 'Significant' Delays

The U.S. Department of Transportation announced new rules for commercial passengers on Wednesday.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Franchise

Franchising Is Not For Everyone. Explore These Lucrative Alternatives to Expand Your Business.

Not every business can be franchised, nor should it. While franchising can be the right growth vehicle for someone with an established brand and proven concept that's ripe for growth, there are other options available for business owners.

Leadership

Why Companies Should Prioritize Emotional Intelligence Training Alongside AI Implementation

Emotional intelligence is just as important as artificial intelligence, and we need it now more than ever.

Business News

Elon Musk Tells Investors Cheaper Tesla Electric Cars Should Arrive Ahead of Schedule

On an earnings call, Musk told shareholders that Tesla could start producing new, affordable electric cars earlier than expected.