Placement vs Post Graduation
Updated: Jul 24, 2020
Majority of undergraduates are probably at crossroads after their bachelor’s degree wondering whether they should pursue postgraduate studies or enter the workforce. Getting another qualification may lead to a wage premium, while work experience early on may equip them with skills that are beyond the realm of theoretical knowledge. Of course, there are several considerable factors to determine which option will best fit their needs, or give the maximum benefit in the long run. It is wise to look at the pros and cons on both sides so that one can make the best decision.
A few considerations to bear in mind include the amount of post graduation costs, the subject or topic that one is willing to study, the skills that can be acquired, the return on investment, and commitment to staying the course. Almost 60% of graduates start looking for job opportunities during the course of their graduation or right after it. One advantage to joining the workforce immediately is that an individual gets equipped with the earning power. It may not be as much money as you dreamt of, but it may be sufficient to support yourself and become self-reliant. Taking campus placements gives a kick-start your corporate career.
One begins to acquire professional skills and experience that might be beneficial to his career later on, and gain this sooner than those people who spend two years or more getting a master’s degree. You may also be offered career advancement opportunities that can compensate for the wage pay-off that employees with postgraduate degrees may receive. Another benefit of starting work is that you have time to create an extensive professional network; you can meet the right people who can help you achieve your career goals. As a professional you can also assess whether your career goals actually require further study and judge whether investing in a master’s degree will turn fruitful or not.
However, you need to be very cautious about making such decisions. While taking a job might sound fancy and satisfying but if your job profile doesn’t fit you well then you might be at the risk of making a bad start for your career. That’s why before you go on grabbing a job after earning a degree, sit down and contemplate on the following: Why do I want to choose this job? Would this job suit my working style? Is this the kind of job I thought of taking when I decided to pursue my undergraduate degree? Now when you have the answers to such questions, it will be the right time for you to make up your mind about the job prospects after graduation.
Pursuing post-graduation after attaining an under-graduate degree is one of the safest and wisest paths to tread on once you are out of college. A key reason to consider taking up graduate studies is the wage pay-off you are going to get after you are employed with this additional academic merit. The wage premium for securities, commodities and financial services sales agents is the highest, with almost a 90 percent difference compared with the wage of their counterparts without a master’s degree.
Some postgraduate programs are geared towards the development of an in-depth knowledge of the subject. In this case, assess whether studying will ultimately benefit your career, especially if your goal is a higher pay. While gaining a postgraduate degree may give a bigger pay cheque, you also need to consider the additional costs of studying. Also, while considering post graduation, one must also consider the cutting edge competition one faces while getting into top universities for post graduation and their criteria. One gets an edge in their application if they have work experience, especially in case of top business school interviews.
You also need to consider how enthusiastic you feel about the specific course, since completing a master’s degree may be a challenge if the topic is not an area of special interest for you. With a master's degree, the big question to decide is “when”. So unless your career really demands advanced studies, one should consider other options as well. This article entailed a broader view of each path. Although there might be differential views on what to do after graduation, ultimately, it is up to the individual to choose the path which suits him the best but just in order to survive in today’s world, one needs to be informed and cognitive of the things around.