If you’re contemplating pursuing a postgraduate course, it’s crucial to weigh the advantages and disadvantages before making a decision. Here are some key points to consider:
Pros and Benefits
Enhanced Employability: One of the primary reasons individuals opt for postgraduate studies is the potential boost in employability. Obtaining an additional qualification can certainly improve your chances of securing a desirable job. Certain professions, such as doctors, veterinarians, and teachers, often require a relevant postgraduate degree. Even in fields where advanced degrees are not mandatory, having one can make your CV stand out among other candidates. Employment statistics indicate that graduates and postgraduates continue to have higher employment rates than non-graduates. However, employment rates for working-age graduates, postgraduates and non-graduates alike were slightly lower in 2020 compared to 2019. However, the percentage of postgraduates employed in highly skilled roles was higher than that of graduates. Therefore, if you aspire to reach higher positions, pursuing a postgraduate degree may be the right path for you.
Potential for Higher Earnings: Investing your time and finances in a postgraduate qualification can lead to increased earnings throughout your career. According to recent government data, the median salary for working-age graduates was £35,000 in 2020. This was £9,500 more than non-graduates (£25,500) but £7,000 less than postgraduates (£42,000). While obtaining a postgraduate degree doesn’t guarantee higher income, it does enhance the likelihood of accessing better-paying job opportunities.
Intellectual Interest: While money is important, there are other reasons to consider postgraduate studies. It provides an opportunity to delve deeper into subjects you love. If you enjoyed the academic experience during your undergraduate studies, pursuing a Master’s degree can be a logical next step. These courses focus on specialized areas, allowing you to explore topics in greater depth and length compared to your undergraduate degree. If you particularly enjoyed research, a Ph.D. program can offer the chance to immerse yourself in your field for three to four years.
Opportunity to Study at a Prestigious University: Many individuals continue their postgraduate studies at the same university where they completed their undergraduate degree. However, it’s not obligatory to do so. You may choose to study at a different university, preferably one that ranks higher in league tables or holds a more prestigious reputation. Researching universities becomes important once again, just like when you selected your undergraduate institution. Look for universities that excel in your chosen field, have strong industry connections, and possess adequate resources.
Cons and Drawbacks
Cost: Postgraduate study comes with a financial burden. The total expenses vary depending on the chosen course, but the average cost of a Master’s program ranges between £8,000 and £9,000. Certain courses, such as MBAs, can exceed £60,000 in fees. Additionally, you need to consider living expenses, which typically amount to around £10,000 for a 12-month full-time Master’s program. Since 2016, loans have been available for postgraduate study, allowing you to apply for a Postgraduate Master’s Loan of up to £10,906 to contribute towards your course and living costs. Keep in mind that these loans will add to the repayment obligations you already have from your undergraduate studies.
Course Intensity: Master’s courses cater to graduates from various universities, each with different levels of experience. As a result, these courses often pack a significant amount of material into a relatively short timeframe. Initial modules may cover introductory-level content, progressing rapidly to more advanced topics. This creates a dilemma for departments, as the modules can be either too advanced for students lacking a sufficient grasp of the subject or too basic for those who have already covered the material during their undergraduate studies. Thus, selecting a course that aligns with your level of expertise is crucial. Additionally, postgraduate workloads typically involve fewer essays and exams, but the assignments you do complete require greater depth and length.
Academic Rigor and Social Life: Postgraduate studies require substantial dedication and may limit your social life. The workload is typically characterized by fewer essays and exams but more in-depth and lengthy assignments. Self-motivation and the ability to work without constant supervision become vital at this level. Additionally, the nature of postgraduate study tends to be more independent, potentially reducing opportunities for socializing. Many postgraduate students prioritize their academic performance, dedicating time to their studies and maintaining a balance between work and social commitments.
Before committing to postgraduate studies, it’s essential to consider the potential benefits and drawbacks. While a postgrad qualification can enhance employability, offer intellectual fulfilment, and potentially lead to higher earnings, it also comes with financial costs and demands rigorous academic dedication. Assess your goals, research universities and courses, and evaluate the impact on your personal and professional life. By carefully weighing these factors, you can make an informed decision about the next academic step that aligns with your aspirations and circumstances.
Last modified: 2023-07-01
