The following is a guest post from Margaret Mannix the Executive Editor of U.S. News & World Report’s best-selling higher education reference books, including Best Graduate Schools 2013 and Best Colleges 2012.
Given today’s economic turmoil, corporate belt-tightening, and abysmal unemployment rate, a second degree could mean a higher salary, a big career boost if you’re already out there in the working world, or an exciting new direction if you’re still floundering around with that part-time job at the mall. It’s a pricey proposition—you’re talking tuition and fees of $9,000 at public universities and more than $20,000 at private schools—but the payoff could be tremendous: People with master’s degrees earn more over their lifetimes than those with baccalaureate degrees.
For many of you 20-somethings, the decision might be a no-brainer. Coming out of grad school in your 20s or early 30s means you’ll have decades of high-earning power. And just think what that fatter paycheck will help with—rent, clothes, a car, and those student loan payments that seem to have no end. But—and this is a huge caveat—pulling in the big bucks in this day and age depends on your chosen field. The median salary for someone with a master’s in engineering is $107,600, according to a recent report by the Georgetown University Center on Education and the Workforce. That’s more than twice what someone with a master’s in English will earn.
Here are some things to think about if grad school is on your horizon (and you’ll find much more advice in our just-published Best Graduate Schools 2013 book!):
*Do your homework—and not just in choosing a program. Grill the career service people at all the schools you’re researching: Ask how many grads got jobs, what kind, and how long it took to get them. Ask about the long-term career path. Ask about the starting salaries for the jobs—and when you can expect a bump up in pay. Ask where all the good jobs are.
*For aspiring B-school grads, while the boom times aren’t back yet, there are definitely some bright spots. The tech sector is hiring more M.B.A.s, and international firms are seeking talented grads to help them take advantage of emerging markets like China.
*Prospects for newly minted engineers are excellent, with robust demand across the board—especially in electrical, biomedical, aerospace, computer, mechanical, and petroleum engineering, to name a few.
*Med school applicants will find that primary care practitioners are enjoying a seller’s market. Openings for nurse practitioners and physician assistants abound, too, and get this: One expert told U.S. News that more than 90 percent of people with a master’s in nursing nab a job within six months of graduating.
*Would-be J.D.’s might want to consider healthcare and intellectual property law, which are showing signs of rejuvenation thanks to recent legislation on healthcare, patents, and financial services.
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The following is a guest post from Noël Rozny of myFootPath.com
Right about now, you’re probably crawling out from underneath a pile of library books, term papers, and exam notes, feeling like you can finally see the light at the end of the tunnel. And you’re right, the school year is almost over, which means that if you’re a senior, you’ll be graduating soon. Congratulations!
While you should reward yourself for completing your degree program, don’t take a break for too long. There are many other details that need your attention now that school is winding down. To make it easier for you, we’ve put together a College Graduate checklist that will help make the transition in the “real world” a little bit easier.
5 Things Every College Grad Needs After Graduation
Job Search Tools
You might have already started your job search, but if not, now’s the time. For a successful job search, you’ll need a polished resume, 3-4 professional references, and a strong professional network. If you’ve never compiled a resume, you should be able to get some free guidance at your school’s career center. Professors, former employers, and student organization supervisors all make great references, so check in with those individuals now to see if they’ll speak on your behalf. As for networking, start with references, colleagues, coaches, and anyone else you’ve collaborated with in the past four years. Contact them about your job search, connect with them on LinkedIn, and pick their brain for any tips or job opportunities they know of.
An Apartment
If you’ve been living in the dorms the past four years, one of the first things you need to do before graduation is line up a place to live. Finding an apartment that fits your needs and price range can take a few weeks, so get started now. Make a list of what you want, what you don’t want, and start contacting apartment companies. Don’t forget that you’ll need money for a security deposit (anywhere from a month to two month’s rent), basic furniture (this is where futons come in handy) and to get the utilities (electricity, water, gas and cable) turned on in your name.
Health Insurance
While you were in college, chances are that you were on your parent’s health insurance. The good news is that you can stay on you’re their plan for a few more years, until you’re 26, so if the internship or job you’re starting after graduation doesn’t offer a plan, you’re covered. If you do decide to switch insurance plans to what you’re employer is offering, make sure there are no gaps in your coverage, as that can currently affect your ability to receive treatment for pre-existing conditions.
A Work Wardrobe
Even if you luck out and land a job at a company with a relaxed dress code, you’ll still need a good suit or two for client meetings, corporate events, and business trips. Business clothes are expensive, so maximize your dollars by buying one or two suits in neutral colors, like black or gray, and variety of dress shirts in a different colors.
Retirement Plans
I know retirement probably seems very far away. But now is actually a crucial time in your retirement planning. Putting away a set amount each month, no matter how small, can have a huge impact on how much you’ll have when that golden day arrives. If you’re employer offers a 401(k) or similar plan, getting started should be pretty easy. If not, you can meet with a financial advisor and get started on your own.
I know the items on this checklist might seem overwhelming, but with the help of those who have gone before you (parents, an older sibling, an aunt or uncle) it’s all very doable, and the sooner you start, the easier your transition will be. Good luck!
Noël Rozny is Web Editor & Content Manager at myFootpath, a career and education resource for students of all ages. Visit myFootpath.com to find the bachelor’s degree, master’s degree or PhD program that’s right for you.
In college, sometimes things get tough. I’m going to shed some light on how you can help yourself get through these “tough” times and not get too stressed out.
Scenario number one: I need a job! Money is tight for most all college students. If you have time to work but are worried you won’t be able to find a job in your new town, don’t be! I moved from Iowa to Omaha and I wanted a job more than anything. You have to be proactive. I went around to various stores and introduced myself to many managers. I filled out numerous applications and sure enough, quickly got multiple interviews. The key is to look for a job right at the beginning of the school year. Most part time jobs have seasonal workers who maybe live in your college town but go to school elsewhere. When these employees to away to school, they need people to fill their shoes fast during the school year, it’s perfect! Be confident and go get em!
Scenario number two: Homework overload! College is interesting because although you will suddenly have an abundance of free time, you will also find yourself with insane amounts of homework. If you put two and two together, do your homework in your free time! I know it doesn’t sound like the most fun to use your free time for your studies, but it will benefit you. If you use time between classes or at lunch to study, you can use your evenings to relax. I’ve found myself mastering the art of getting everything done early in the day or afternoon; it’s so nice to be able to relax when dinner time rolls around.
Scenario number three: I got dumped! I know the initial thing to do after being dumped is going to one extreme or the other. Either you don’t eat or you eat the whole pantry. Either you don’t sleep or you sleep your life away. Either you don’t work out or you never stop. Point is, neither extreme is healthy. College brings change that sometimes high school relationships or summer flings can’t handle. If you find yourself suddenly riding solo, embrace it! Think of all the new fish in the college sea. I know at first it will seem as though no one can compare to the one you were with, truth is; only time will tell. If you are supposed to be with that person, eventually it will happen if not, it might as well end sooner than later. Have fun, remain confident, and don’t always think you NEED to be in a relationship to be happy.
Scenario number four: I’ve gained weight! Everyone has heard of the so called, “freshman 15.” It’s true that college can initially lead to weight gain. This is due to eating at later times in the night, eating more fast food, and not working out as much. Alcohol is also one of the main causes of weight gain in college students. To fix your sudden weight gain, start with eating right. Pick meals that include each food group, and attempt to snack less. Along with eating the right foods, try and eat all your food before 9 at night. The later you eat, the more food sticks on your body once you sleep. Eating breakfast is one of the main contributors to a healthy diet. Breakfast gets your metabolism going sooner, and leads to less hunger overall throughout the day. If you must go to a fast food restaurant to eat, try and pick a subway or order off the lower calorie menu. The best advice is to just avoid fast food. Other things to avoid include pop and alcohol. These beverages are loaded with a ridiculous amount of calories. If you feel a good workout is in order, just do it! Now that the weather is getting nice, try going for a run or a bike ride. Getting active is a step in the right direction.
I hope if any of my scenarios related to you, my advice will also. Have an awesome last few weeks of school!
-Speedy G.
Depending on where you go to school, living can be a sticky situation. If you go to a big school your options might consist of freshmen dorms, off campus apartments or houses, and potentially Greek Sorority or Fraternity houses. You may get to choose where you live—and make the tough call of staying put, or venturing off on your own. However if you go to a smaller school, your options start to change.
Smaller schools can accommodate more students because of smaller numbers—instead of 33,000 beds, you may only need a few thousand—if that. Small scale universities have large commuter, day time, and evening populations. Dormitories can be built to hold fewer students than state schools would need to, and often guarantee housing for all four years instead of offering a less than desirable lottery system.
But how do you choose where to live? If it’s mandatory to live on campus, is that a bad thing? If you can choose whether or not to live on campus, should you? Or if you have the option to move off campus, what factors should you consider? Where does benefit vs. cost analysis kick in?
Before you toss and turn trying to figure out all of you housing worries, consider the facts. Make a pros and cons list and really weigh your options. Most campuses are different, so what may make more sense for friends studying at other schools, may not necessarily make the most sense for you!
So why live on campus? Here are my reasons: I go to a small, private institution in Philadelphia. It’s centered in an urban area, 15 minutes from center city. Housing options are limited off campus—you have to rent, buy or sublet. However, students are fortunate enough to be guaranteed housing on campus for all four years. And that’s not all! Your start in the dorms, but as you move through semesters and classes (and start to accumulate credits!) you can move up on the housing ladder. Dorms turn into apartments, and eventually your apartment turns into a townhouse with three floors. Now this isn’t the case everywhere, but you get the point. There are options for students who want to stay close, and stay put right on campus! The upkeep is taking care of, you don’t pay water and electric, you have options and space to room. Really, campus is your new backyard. The only downside? Your room and board receipt. Maybe it’s covered in your financial aid, scholarships or loan, or maybe not. Just consider the numbers and decide if adding this portion to your bill makes sense.
If on campus isn’t for you, what else can you try? Here is my perspective– On the flip side of our cozy campus community, is the off-campus living. Students who are local, or who want slightly more freedom than dorms allow, make the move off campus. There are houses and apartments close by with owners looking to rent, or sublet to desirable students. There are factors that go into this move that students don’t often consider—safety, upkeep, costs, etc. However, when all is said and done, those who decided to become “college home owners” do okay. You can make your own rules, decorate however you want, and eat on your own plan. However, don’t forget to consider the time commitment you are signing up for! You are signing a lease or contract and become responsible for property. You are paying bills (that may or may not be cheaper than on campus alternatives), and managing the upkeep of your place. You have to cook, clean, and monitor aspects of your living life that you may not have even noticed when you were in the dorms.
Unfortunately there is no right or wrong answer when it comes to where you should live on campus. It’s mixing bowl of factors, time, and costs. You need to decide what makes the most sense for you individually and how you want to spend your time when you don’t have your head buried in a book. Do you want to share a room, are you comfortable with roommates? Can you remember to take on the trash? Will you remember to turn off lights and lock your door? Will you remember to grab your keys?
Take your time and do your research. Check out every available outlet of information on housing in your college area and decide what makes the most sense—also check requirements. Some scholarships stipulate that you live on campus, so does some financial aid! Or your campus may have a “first year” rule making it mandatory to live on campus. After that, it’s up to you! You can also choose how you decorate your room and what furniture to have—now you just have to decide where that room will be!
-Ring Queen
Now that winter’s over, what are you going to wear? Do you need to update your wardrobe pronto before you sweat your way to class but don’t have a lot of money to spend? Don’t worry, you’re definitely not the only one. There are lots of stores and online shopping where you can find mix and match spring and summer pieces without spending like a celebrity.
One online store brimming with deals for college students is aSociete. Once you create a free account (you don’t even have to be on the listserv to get daily emails if you don’t want to), go to town on clothes, accessories and shoes that are always on sale—and even name brand! Though some designer duds from Betsey Johnson tend to remain in the mostly more expensive domain (generally around $45 or more), there are lots of other trendy, adorable clothes for under $20! It’s definitely worth scouring through the pages upon pages of clothes for these special deals designed specifically for college kids like us.
Modocat is another online bargain outlet. Shoes, bags, clothes, accessories are all at the click of a button—so be careful! To make your outfit planning that much easier, the site also features a daily lookbook to help you find the perfect outfit for you. Even better, there are always items for sale to keep an eye on. Though like aSociete, some items get quite pricey, this site is full of the cute, quirky, fun and flirty for any price range if you just take the time to look around.
The average mall stores, like H&M and Forever 21, are also great to hit when shopping on the cheap—whether you cruise through their websites or spend time in the actual stores. Online and in physical locations, both offer new arrivals and sale items quite frequently. Some more elaborate pieces, like decked out lace dresses, will run higher, but basic tank tops, shorts, knit tops and other mix and match essentials can always be found on the cheap! And if you find something you like that’s a little too pricey for you now, stay on top of that piece online and in the store—both have sales often, and you never know when it might dip down to your price point.
Don’t forget about the bulls eye either! Target, though sometimes picked on for being like Wal-Mart (but it’s so much classier and nicer) is full of great bargains. Not only do they have a new celebrity designer, like Jason Wu, design special lower price collections for them every few months, but they get great new styles in regularly. At the very least, hit up the bathing suit racks packed full of adorable suits at a reasonable price. And while you clothes shop, you can also get some snacks, DVDs and other home goods for your dorm or apartment—all of which can be found at decent price points.
Wet Seal, online and in some malls, offers affordability and variety. You can find a ruffly, feminine top or the punk rock skull t-shirt you always wanted. Make sure to check out the sale section, full of great steals for around $20 or less. For that price, you can fill your closet with new spring and summer shirts and have money to spare.
If you need some snazzy footwear instead of the mundane cheap flip flops meant for the beach, check out DSW (where you often pay less than Payless). They’ve got everything from fancy to casual, comfortable to beauty-is-pain. You can shop luxury designs, like Prada or Gucci, or just keep it simple with Clarks. Whether you need sandals or professional and comfortable shoes for an internship consisting of running around all day, you’ll have no problem finding multiple pairs in one quick visit.
Lastly, it’s always a good idea to look at fashion and women’s magazines for ways to build a well planned out outfit inspired by a stylish celebrity for less. Sometimes they’ll even offer you special discounts just because you bought that issue. Inspirations, discounts, pretty pictures of your favorite celebs, and other beauty ideas all in one? It can’t get any easier than this.
So get out there and put some spring into your step while you shop. Good style doesn’t have to cost a fortune, if you know where to look. You don’t even have to become an extreme couponer. Happy savings!
-ToonyToon
I’m reading Physics: Principles with Applications
