You've already survived three, possibly four years of undergraduate study, you've most likely got a student debt against your name, and by now you're probably wishing for a regular pay cheque to be coming your way. So, why then would you be considering graduate study? 

Studying for your Masters is going to mean another two years at university, studying for your PhD could mean another five. It's going to cost you more money, and you'll be a few more years away from scoring that job. So it had all better be worth it! 

Well, according to many graduate students from all corners of the globe, it is. Graduate study is providing them with additional skills and knowledge they didn't get during their undergraduate years; they're gaining in confidence, developing an international network of contacts, and what's more, job prospects and salaries are looking promising.

Research by QS involving more than 450 international employers shows the difference in salary between an employee with a first degree and a graduate qualification can be as much as 71%. Nunzio Quacquarelli, Managing Director of QS, says: "During the last five years or so there has been a fundamental shift in attitude on the part of recruiters to encourage candidates with more qualifications to apply for positions in their companies. Global employers now use graduate degrees as key points of differentiation between candidates seeking employment." 

With almost every industry giving more prominence to niche, specialised knowledge, a Masters degree has become essential for one's professional capacity. "In fact, in some specialized areas where technical skills are particularly significant, the benefit of a Masters degree can also outweigh that of up to four years work experience," says Quacquarelli. 

So whether it is updating your skill set, or securing that job you've always wanted with lucrative benefits, more and more graduates worldwide are finding that a Masters degree is like the icing on the cake as far as your CV is concerned. It's a stamp of credibility, reliability, and efficiency, and can facilitate a rapid and significant upswing in one's professional career development. 

Staying on to further your education, especially in the current job market, might be a very smart move. Ann Graham talks to three Masters students about their experiences:

 
Carrie Bee Hao
Masters of Business Law
Hitotsubashi University, Tokyo, Japan 

"Studying is never a waste of time," says Carrie Bee Hao, a Filipino-Chinese student currently studying in Japan. "If you're at a point in your life when you are tired of working, and you think there is little or no room for advancement at your current job and you want to experience student life once again, I think taking up a Masters degree is a good solution." 

Carrie Bee has taken leave from her law firm in Manila for at least three years, while she studies for an LLM. "My main speciality in my law firm is intellectual property law and getting an LLM after a few years of practice is the usual career path for most lawyers in the Philippines - 90% go to the US for their LLM but I wanted to go somewhere rather unusual. I also wanted a program that is really specialized and has a more practical and business-wise approach. Japan is very advanced with respect to intellectual property law - likewise, it has a very complicated yet challenging corporate law structure in place, which is something I would like to study as well." 

Studying for her graduate degree in Japan has allowed Carrie Bee to become fluent in advanced Japanese - the level of Japanese required for law. She is confident this will make her more desirable for employment as she is now multilingual in English, Chinese, Japanese, Spanish and Tagalog.

"I believe that the point of graduate study is two things: a) to further deepen your knowledge and skills on a specific field of study in relation to your profession, which will more likely lead to better career opportunities, and b) to create or increase your network all around the world that might lead you to your dream job sooner.'' 

"Most importantly, you will gain a lot with the connections you will make during your program so your networking skills will also improve during that time. The experience alone of applying [for your graduate degree], waiting for the results and knowing that you have been accepted is an experience by itself!" she says. 


Stephanie Chow
Masters in Negotiation and Conflict Resolution
Columbia University, USA 

"Conflict resolution is fascinating to me. The same cooperation and conflict theories apply to interpersonal relationships as well as international conflicts," says Stephanie Chow, a Masters student at Columbia University in New York. "I like the versatility of the degree as conflict resolution professionals work in a myriad of fields - law, business, education, health care and government." 

Originally from Long Island and with an undergraduate degree from Boston, Stephanie chose Columbia University as it offered her the opportunity to live in the city, close to home. To fund her grad study she has a combination of scholarships, student loans and parental support. 

"A graduate degree is another credential so it opens up more opportunities - a greater network of professionals and job opportunities," says Stephanie. "It has also become a standard. Most people now possess a Bachelors degree, so a graduate degree is a leg up."

Stephanie has acquired a number of skills while studying for her Masters: strong analytical thinking, the ability to adapt in a variety of settings (be it international, cultural, office dynamics); and an ability to apply theory and other things learned in class to daily life. "I have also fine-tuned my time management skills and detail-oriented nature," she says. However, she does wish she'd known more about the program options, curriculum and classes for her concentration before she began her Masters program. 

"My advice to others considering graduate study would be to make sure you love the location, the school and the culture because you have to spend at least three years studying there. Not enjoying where you live and where you go to school will almost certainly affect your grades." 


Karol Kaczmarczyk
Masters in Economics and Management of Innovation and Technologies
Bocconi University, Milan, Italy 

Karol Kaczmarczyk had to decide early on where he wanted to study for his Masters degree - selection was taking place before he graduated with his Bachelors. "I decided to stay at Bocconi for my Masters because I knew the school and I liked the Masters program. The MSc in Economics and Management of Innovation and Technologies was an innovative program," he says. 

Originally from Poland, Karol says his Masters program has prepared him for positions such as a business analyst, researcher or consultant. "I've acquired international experience, learnt statistical multivariate analysis using SAS software, gained a profound understanding of innovation processes, and realised the importance of it for sustainable growth quest. I've also developed entrepreneurial skills and financial analysis.'' 

 "A Masters helps your preferences and interests mature so that you do not need to make things up during an interview when asked for motivation. It also gives you more specific and practical tools to do the job you're looking for." 

His advice for anyone considering a graduate degree is to know exactly what the courses are before choosing a program. "Many students make a choice based on assumptions and find out that it is far from what they expected when it is too late," Karol says. 

"Remember that a good graduate program at a top school justifies a premium on the job market and eases the entry-level competition. A sole reputation however, is insufficient. Although entry-level implies little or no experience, the competition has made some well-defined practical skills indispensable for a successful job interview."

Published with permission from The QS World Grad School Tour. Now in its ninth year, the Tour will be visiting 50 cities in 36 different countries in 2009. See www.topgradschool.com for the 2009/2010 tour schedule.


Your GoStudy Team
www.gostudy.ca