Estimating the Benefits of Enrolling in a Graduate School

According to studies of graduates of bachelor-degree programs in psychology, entry-level positions tend to pay relatively little and may be relatively unsatisfying. Although the positions, pay, and reported job satisfaction of psychology majors tend to significantly improve many years after graduation, those who enter the workforce immediately upon graduation risk at least a few years of less-than-satisfactory employment (Landrum & Elison-Bowers, 2010; Rajecki & Borden, 2009).

Although graduate school can be a route to a better paying, more satisfying job, and career, it is quite expensive. According to the American Psychological Association (APA), a doctoral degree results in most students entering into debt for as much as $50,000 to $75,000 or even more (APA, 2003). The median debt incurred for a master’s degree is approximately $25,000 (Kantrowitz, 2011).

Using your textbook, the Internet, and the Argosy University online library resources, research choices such as entering the workforce immediately on graduation or enrolling in a graduate school. Based on your research, respond to the following:

Select one of the options: entering the workforce upon graduation or attending graduate school. For your selected option, identify at least five benefits and at least five risks associated with that choice. For example, if you choose to enter the workforce immediately upon graduation, identify the benefits and risks of doing so.

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