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pi-r8
#27
Apr2-12, 06:23 PM
P: 146
Quote Quote by Choppy View Post
There's a lot of talk about opportunity cost here. But somewhere there seems to be this assumption that the opportunity cost doesn't actually "buy" anything for the student. That's where the disagreement is stemming from.

If it takes you two years to get a master's degree where you are getting paid $20k per year, compared to starting an entry-level position that pays $45k per year, your opportunity cost is $25k per year (plus lost investments, less work experience, etc.)

But you GET a master's degree out of the deal. So after 2 years, you have (1) a higher earning potential, (2) opportunities to do work you may not have been previously qualified for, and (3) the education itself.

Is the opportunity cost made up for by the higher earning potential and everything else that comes with the advanced education? That's the question that a potential graduate student should be asking.
That's true, but don't forget the other benefits of the job. Two years of work experience is a huge boost to your resume for a young person, and of course it can also teach you a lot, both about the job itself and just about yourself in figuring out what you like/dislike.