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Apr2-12, 06:42 PM
P: 686
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.
Absolutely. The opportunity cost of not pursuing graduate school is not getting a phd.

Of course, lots of phd holders end up in jobs you don't need a phd for, and not everyone who starts graduate school finishes, so how to calculate the cost of not attending graduate school is tricky.