Job market conditions for recent college grads have been a hot topic as of late. The CNN website recently reported that the job market for college grads is the worst it has been in recent memory. The article refers to colleges as “safe ports” as more and more unemployed individuals go back to school to earn MBA’s, Bachelor’s Degrees/certificates, etc. in an effort to ride out the unemployment storm. They will then emerge from school when the economy improves. The Economist has a special report on newsstands discussing the top MBA programs and whether or not earning an MBA is right for you.
As a champion of education, I believe adding to your skill set is important and valuable. In my opinion, learning is continuous. Learning is a way of life. Learning is as essential as breathing and eating. With that said, I caution against going back to school for the wrong reasons.
Having been an educator at a career college and involved with colleges and universities, I know that going back to school will not necessarily get you a job in the end. Many programs lack sufficient employment opportunities once completed.
Here are a few things to consider when going back to school.
1) What are the job trends in your field of study? Do the trends point toward growth, decline or are they flat?
2) What are the anticipated salary trends for your field of study?
3) How many students are currently enrolled nationwide and what is the expected competition for your area of expertise?
4) Are you going to be satisfied with this career path long term?
5) What is the additional experience, internships, or qualifications necessary beyond the initial study?
6) What support is available from your institution to help you find a job upon graduation? Are there internships? Is there a career services department? Is the faculty well connected to the business community?
7) Is additional education necessary to your area of expertise?
Going back to school may or may not be a viable option for you. Before you incur the debt associated with returning to school, conduct the appropriate research to make sure the decision is based on logic and cost/benefit analysis, not simply emotion. Jobs are available, even in markets of high unemployment and decreased job security.
