Life after grad school

[bjlowe]

Here's the situation: I have applied to NYU SCPS for the Master of Science in Global Affairs program. The cost of this degree is astronomical. I did my bachelor's with relatively little debt, but I still owe some and have no source of financial support to attend graduate school (FAFSA is my only option). I am very passionate about the IR field and I feel that pursuing a degree is the best way for me to get a job I will really love.

Unfortunately, as with many careers / programs in the field, the jobs we will end up with are quite likely going to have a salary that is much lower than the cost of the degree. So what I'm trying to poll is: Is it worth it? Should I put off the degree and pursue a career in this field by other means? i.e. moving to NYC anyways- and try to volunteer or find a part time job and an internship? This would allow me to minimize my debt. Or should I go for it? Rack up the debt in hopes of finding a job in the end?

Is there anyone out there that graduated recently from the NYU MSGA program that can share their experience? / Give any advice? I would be greatly appreciative!

Or anyone who has pursued a degree in this field at a similar program that can give some insight?

DEBT makes me CRAZY!!!

Thank you!

[Ennue]

I'm not in your field, and I have no idea what your prospects are for a job in this field with or without a Master's, but I do know this: I know several people who are currently finishing a Master's degree, have a big amount of debt, and have no prospect of finding a job. As in, there are so many people in their field that it's pretty much hopeless, and they'll probably end up working at a coffee shop or so to pay the bills. I don't know what you mean by "astronomical", and I don't know how important it is to you to eventually work in this field (do you have any experience in it? Are you sure that this is really, really the only thing that could make you happy?). But. Having debt has a gigantic impact on your life, and the job climate is no longer "If you have a Master's, you will get a nice job".

Sorry for being depressing... Good luck!

[ccarmona]

Hi, I would rather be optimistic about finding a job once you complete your masters. Just because you have some fears about debt vs. career doesn't necessarily mean they will come true. The facts are still the same about educational attainment. Yes it is on the rise, but people still seem to forget that in the US we spend about $405.3 Billion in Research and Development. China is still behind at $153.7 Billion and we are still years ahead of the curve.

Moreover, account for your undergrad and you walk among 40% of people over the age of 25. Masters, its 7.95%, and Doctoral its only 3%. Do the math the probability of landing a solid job is likely. Not depressing at all. In terms of "astronomical" debt (I do have to agree with Ennue) we have no clue what that means. Your capped @ $138.5K here in the US. If you add the extra expenses and take the long term route you should be fine. Good luck.

Edited April 1, 2012 by ccarmona