Mark Hammer

Don’t be so quick to like this.

There will not be the sort of employment for all of these folks that they feel is commensurate with their training and degree of commitment to their discipline (well, unless 3 in 4 go for an MBA). Having a more educated populace is great. Having a more educated populace milling around underemployed? Not so much.

Grad school takes time, and eats away at one’s income earning years. It also defers family life and all major life-stage expenses related to that, reducing the number of “no obstacle” income earning and saving years between when those expenses end and when retirement is anticipated (my youngest won’t be finished undergrad until I am 67). That places pressure on pension plans and investments to deliver up more with less, which is not good for anyone.

As the proud holder of 3 degrees, I’m not going to speak ill of grad school. But I also recognize that there is a need for a careful balance in terms of the proportion of society that takes that path. I also recognize that, for some, grad school is essentially circling the airport while the job market catches its breath.

So I’m going to be a little more guarded about this than you are. But, like anything, you gotta have cheerleaders on both sides of the field, right? 🙂