Don't Go Back to School for the Wrong Reasons
Graduate Programs Are Great, but Enroll With the Right Expectations
Kelly Eidson |
I could talk about how much grad school helped me (it has) or how to get into a good program, but that would be pretty self-indulgent on my part. I think it would be more helpful if I talked about the rude awakenings, because a lot of people have unrealistic expectations going into grad school, and no one likes to learn lessons the hard way.
It's not going to get you a higher salary. I've never seen any data to suggest that having a master's degree or an MBA produces higher salaries in advertising that can't be explained away by organizational or individual differences, but I have seen plenty of data that show a negligible increase at best. (See page 22.)
There are exceptions to every rule, but it's safe to say that the only big money that's guaranteed with grad school is what comes out of your bank account, not into it. Trust me, I'm disappointed about it, too.
It's not a golden ticket to career success. Degrees and slick portfolios are not the equivalent of industry experience. Though these things may increase your chances of cracking into a field and help you land an entry-level job on a long road to your dream job, any recruiter worth his salt will tell you that there's at least one big difference between student work and professional work: clients. Without going through rounds of approval processes, student work is student work, even if it's good.
It's been said before, but it's worth repeating: Graduate degrees don't mean anything on paper; it's what you went through to earn them that makes you valuable and interesting.
It's not the best place to learn the latest set of hot skills. Academia is really good at teaching broad, backbone theories (like the Pareto Principle) that apply to a wide range of disciplines and have been tested and supported over years of research. It's not so good at teaching shiny objects.
Don't get me wrong, you can learn about emerging trends and pick up technical skills in grad school, but your professors won't spoon-feed it to you. If you really want to learn something specific, find courses at a community college or even a freelancer who has these hot skills and pay her to teach you. Better yet, calculate 1% of the cost of a semester's graduate tuition and spend that on books that can help you teach yourself the hot skills. You'll learn them better, and you'll save yourself a couple grand.
It's not a good way to avoid job-searching in a recession. When the economy gets ugly, people retreat to universities because it sounds a lot like a bomb shelter; they can crawl in and hide out while they wait for the war to blow over. After all, recessions are scary, and extra education can't hurt, right?
True, but all too often people forget about the opportunity cost associated with delaying work experience. Yes, in grad school you'll learn a lot and tack on a degree, but how certain are you that two more years will yield a higher rate of return than other options? Grad school is especially tempting if you've been laid off, but even in this economy, it probably won't take two years to find another job.
It's not College 2.0. Remember what a rock star you were in college? How you could read through course material, take an exam, get a good grade and feel validated in your intelligence? I was the same way. I loved college so much that I thought to myself, "Hey, if I'm good at this, think of how great I'll be in grad school!" My first semester in grad school knocked the snot out of me.
Higher education has a way of making people feel lonely and small -- you're surrounded by knowledgeable faculty and other students who are just as bright and competitive and hungry as you are, and you're constantly confronted with the reality that even though you work till your eyes bleed, what you learn is just a drop in the bucket compared to everything there is to know. If anyone tells you that it doesn't shrink them to three inches tall, they're not to be trusted.
The bottom line is that if you go to grad school for quick gain, you're going to be disappointed. Go to school because you want to take a step closer to a long-term goal. Personally, I went to school because I wanted more research experience, more opportunity to study social sciences and more practice in account planning. My goal was to learn as much as possible, so that I can be great at communications strategy, whether that's working in advertising or not. If I had known that I'd be graduating in the midst of the worst economic climate the country has seen in decades, I may have delayed my graduate studies, but I wouldn't have forgone them.
Go to grad school with a purpose. It doesn't matter what you're aiming for; you need to know what it is and why it's important to you. Otherwise, it's hard, and it's a huge investment that doesn't provide much instant gratification. Then again, few things that are worthy ever do.
If you'd like to hear more about grad school, you can find me on Twitter or read through the transcript from the last #advise chat where we covered this very topic. Of course, I can't talk about life in grad school without recommending PHD Comics.
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I'm glad you addressed the opportunity cost of graduate school, because truly, that's what this decision should all come down to.
My name is Jaime Sousse and I worked in sales for the last few years with an a filliate in the Hispanic. I would love the opportunity to jump to the agency side or a marketing company in the A
I and interested in jumping to the agency side, by doing the Account Planner Bootcamp, in the Miami ad school in January of 2010 in Miami. The investment is I feel is adequate. Please let me know what you will recomend. Thanks. Jaime Sousse Need guidance.
It makes sense in theory, but I believe that we'll all end up where we are destined to be. For me, it's a absolute gift just to be in school working toward a passion that I never knew I had.
So, no. I won't be going to post-undergrad institutions. I'll go back to bartending. Good luck to everyone!!
Great insight into the toiling decision making process. I completed my MBA two years ago and landed on the agency side thereafter. In my case, if I'd known I wanted to work in advertising I wouldn't have made the full-time investment at the time. While the experience was invaluable on a number of levels, there's certainly no instant gratification in this industry vs. some others. Agencies seek years of 'traditional' agency experience, so a graduate degree, or professional experience in another sector (unless specific to a client need), doesn't seem to land you anywhere but entry level.
You may also find me on twitter @erikrwagner
Completely agree. Especially Online, experience really matters. The advanced education will definitely get you noticed but your experience and interview skills will get you the job.
Personally, I would like to wait because I don't even know what it is I expect to gain. And, I can't even get over the cost. Plus, I've had enough family members that have gone back to get their MBA's, and they have all said that you have to know what it is you want to gain going into it -- and it's usually a career or industry change.
And you're right, it seems a lot smarter and economical to read up on industry publications as oppose to forking over thousands of dollars. If you're smart you can teach yourself.
The notion that MBA does not help at is wrong. It may not help if one enrolls in a second tier program. But generally, MBAs (from top 10 b schools) are equipped to perform most jobs across industries. Getting a starting salary of 140K may be difficult in recession (or call it a depression).
Grad school or portfolio school (or what have you) does offer significant advantages in getting hired into agencies. Your points are well taken that it is not a guarantee nor a ticket to wealth. But it's a needed leg in the door at the better shops and makes starting in this business a little easier.
This higher education thing offers significant networking opportunities that will become increasingly valuable as you continue your career. I've always been amazed at the level of contacts out-of-the-box that grad school has afforded my associates.
The higher education path does open the door to greater advancement down the road. There are not many top-level executives in marketing today who haven't done the grad school route.
However, having said all this, the true entrepreneurs I've met, the ones who are self-made and completely innovative, are more likely to have taken the career route. They start at a disadvantage, but they are quick to learn and soon become equal to and often exceed the acumen of the grad school set. Look at Gates. Look at jobs. In our own industry, look at Bogusky.
My reason for pointing this out is to highlight a single fact: The point of education is not to learn stuff, but to learn how to learn stuff.
This fact often becomes lost along the way. We too often rely on our knowledge to the detriment of our innovation. So I encourage you to use your degree to get your jobs and get your advancement. But along the way, act with the innocence and drive of someone who doesn't have these advantages. This combination will make you unstoppable.
Good luck and keep listening to the show. ;-)
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