I just ran across yet another blog post on the internets wrongly decrying graduate school as a poor value proposition. I won’t link to it because it is mostly an uninformed polemic. Since one of the other things I do is teach statistics, I’m well aware of the concept of deviation from the central tendency of data, or in other words, that not all boats rise equally with the tide. There are no guarantees.
Nevertheless, if you earn an advanced degree, you are less likely to be unemployed and more likely to earn a higher income compared to if you hadn’t. Your prospects for both income and employment after graduate school are quite good. And in an age of flat earnings year-on-year, about the only proven way to jump up an earnings level is with a degree.
Then there is the whole thing about interesting, challenging work and the fulfillment that can bring….