Preparing for Grad School
Do I Need A Graduate Degree?
- Advanced degrees such as master’s degrees, PhDs, and professional degrees like MD’s and JD’s, offer various paths for career development, with the choice largely dependent on career aspirations.
- Before you commit, check to see which jobs are only accessible (or more easily accessible) to people who have the graduate degree. Do your career goals necessitate that extra education? If not, you may want to ask yourself whether it’s worth the time, effort, and money.
- Additionally, if you just completed your bachelor’s, you’ll want to find out if the jobs you’re interested in also require years of experience on top of the advanced degree (this is common for jobs that require an MBA, for example). If so, you may decide to wait to go to graduate school until you’ve had a few years of work experience.
Considering & Comparing Graduate Programs
- There are many factors to research and consider when selecting a program such as cost, location, test scores required for admission, job placement rate, graduate salary range, etc. Take note of these factors in our Graduate School Information Tracking Worksheet!
- Several websites also provide support for prospective students attempting to keep track of and compare various graduate programs. Here are a few:
Examples of Business-Relevant Programs
MBA degrees (including specialized programs like CSU’s Impact MBA or a Healthcare Administration MBA) are often pursued by individuals who would like to progress in their career and be considered for executive positions. They tend to be more beneficial for professionals who have had a few years of work experience in which to ground their learning.
MAcc degrees are useful for individuals who would like to become CPA’s but did not get 150 credits in their bachelor’s degree (most people graduate with 120). They also help students to prepare for the CPA exam.
MFin degrees can be beneficial for individuals who would like to work in investment banking or corporate finance – especially at more competitive companies/firms. They can also afford their bearers additional opportunities for moving into leadership roles.
Business students often apply for and attend law school, most intending to become attorneys. Law schools consider (almost exclusively) applicants’ GPA’s and LSAT scores. For students interested in this career path, LSAC and 7Sage’s Law School Predictor are fantastic resources. Barring enrolling in a prestigious program with strong name-recognition, it generally makes sense to attend a law school in the state you plan to practice.
Submitting a Strong Application
Personal Statement
Writing a personal statement can feel a bit daunting, which is why we’ve created a checklist of items to keep in mind. In general, you’ll want to share about how your academic career and experiences have prepared you for the program and for relevant careers.
Purdue OWL also provides fantastic resources for writing application materials.
Resume/CV
The resume or CV you submit for your grad school application is likely to be longer and more detailed than the ones you submit for a job application. This is in part because readers want to know more about your academic history and campus involvement. Check out our rules of thumb for grad school application resume-writing.
Letters of Recommendation
Most graduate programs require that applicants submit recommendations from faculty, which can take the form of a letter or an online form. What this means is that you may want to be intentional about getting to know your professors in your bachelor’s program – how will they write about you otherwise?
Entrance Exams
Depending on the program, applicants may need to submit test scores for exams such as the GRE, GMAT, or LSAT. Do your research; some of these exams require extensive preparation and even preparatory classes.
Paying for School
👩🏼💻 It can be helpful financially to seek programs in which many participants have graduate assistantships. Also, if those assistantships provide tuition reimbursement (along with wages), that can be a huge benefit.
🏡 Discover whether out-of-state tuition is applicable and determine if you would be able to establish residency before/during the program.
💻 Companies often provide tuition assistance for their employees. Check your benefits to see if this might be an option; you may even negotiate education benefits into your contract when accepting a job.
🪙 Though financial aid for grad school can often be more limited than for undergrad, there typically is the option to apply for grants/fellowships!