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EDUCATION
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Pursuit of Higher Education
Degree Requires Financial, Time Commitment
Over Career, Master's and Doctorates Worth About $250,000
& $725,000 More than a Bachelor's
While the advantages of having an advanced degree far
outweigh the positives of an undergraduate degree, many students find the
commitment of time, money and effort to be a formidable challenge. At the
same time, recruiters and consultants warn that the value of the degree
will vary from field to field.
By
Michelle Savage
In 1990 Waleed Hazdun
graduated from Princeton University with a bachelor's degree in Politics
and Near Eastern Studies. Today, Hazbun is back in school, this time
pursuing a Ph.D. in Political Science at MIT. As with a growing number of
Arab-Americans, Hazdun realized the importance of pursuing a graduate
degree in today's increasingly competitive economy.
Traditionally,
Arab-Americans have always been pursued to seek a higher education, and
Hazdun found no opposition from his family. Well, almost
none.
"The only obstacle was breaking the news to my
father, who had taught me about Arab politics and history from a young age
but who wanted me to finish my engineering BSE (Bachelor of Science in
Engineering) and then go on to get an MBA," recalls the xx-year-old
Hazbun, an Arab-American of EGYPTION/PALESTINIAN/IRAQI
descent.
"I first told him I was switching to study
politics, then that I was going to get a Ph.D. and be an academic instead
of going into the private sector. At first he thought I should use the
degree to go into business consulting or the like, but I slowly made it
clear I wanted to be an academic writing and teaching about politics and
economic change in the Middle East. He came around by saying something
like, "Well, that's okay... because you can go and become like professor
Edward Said."
(Said, one of the most published
Arab-Americans in the educational field, is a well-known literary and
social critic who is a professor at Columbia University.)
Hazbun compare his father's words to those of Joseph Kennedy Sr., the
father of John F. Kennedy, who once told his son that if he was going to
enter the clergy, to make sure he becomes the pope.
"My
father has supported me ever since, including with generous financial
support without which I would have never finished, at least not on terms
of my choosing," Hazbun says.
Arab-Americans
and Higher Education
U.S. Census data reveals
that Arab-Americans, both native-born and immigrants, have a higher
educational achievement level than any other ethnic group in the United
States. In fact, 36 percent of Arab-Americans have a bachelor's degree or
higher, while 15 percent have graduate degrees. Not surprisingly, this
higher educations achievement has translated into the employment sector,
with more than 66 percent of Arab-Americans reporting being employed with
a median income of $40,000. Only 11 percent lived below the poverty
level.
Hazbun says that for an academic career, a higher
education is essential but that full-time academic careers are hard to
find and highly competitive. He is starting his search early in the
game.
"My dissertation, which I hope to finish very soon,
is on the political economy of tourism development in the Arab world. I
also work as a teaching assistant at nearby Tufts University," Hazbun
says. "I am currently on the academic job marketing, doing interviews for
tenure-track university teaching positions. In addition, I have made
contacts with consulting firms who work on the tourism sector, and would
take such work part-time if the right project came
around."
At least for now, Hazbun says salary
considerations are not a major concern, as he could have earned a higher
salary in a non-academic career. "I will instead value the prestige and
sense of accomplishment," he says. "I see the degree as making possible
the sort of career and lifestyle I have always wanted."
| Graduate Study in
the U.S This year over a million people entered graduate school programs in the United States. These new students are eager to gain the knowledge, opportunities, personal fulfillment, better jobs, and of course, higher salaries that graduate degrees seem to guarantee in many fields these days. | |
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| Many new students are
motivated to pursue a higher education by a thirst for knowledge, a
desire to increase their marketability and a simple love of the
field. Still, regardless of why a new student is returning to the
academic world, there are still many factors involved in deciding
where, when and how to pursue a graduate degree. Jean AbiNader is co-founder and managing director of the Arab American Institute, which was organized in 1985 to represent Arab-American interests in government and politics. AbiNader is a Ph.D. candidate at the University of Pittsburgh, and holds a B.A. in political Science and M.P.I.A. in International Affairs. AbiNader says that she pursued a graduate school education to reach the level of expertise required for her field. She attributes the high percentage of Arab-Americans who pursue advanced degrees to the fact that many have great pride and are often supported by their families, often financially. AbiNader says that they tend to choose advanced degrees because of the challenge and marketability associated with the degrees, especially in the finance, business and higher education fields. | |
A Professor's
Opinion
Sreenath Sreenivasan, a professor of
journalism at Columbia University and co-founder of the South Asian
Journalists Association, says that an advanced degree is a hot commodity
in today's market.
"You get to specialize in a topic
and become more employable," he comments. "All things being equal, for a
professional job, an employer is likely to be more interested in an
applicant with an advanced degree than one without."
Sreenivasan is quick to add that there are many things that must be
considered before taking the plunge to pursue a higher
degree.
"Having an advanced degree always helps you stand
out from the crowd. But there are considerable costs in terms of money and
time that goes into it," he says. "It really depends on your goals and the
opportunity cost of going back to school. I recommend that students work
for at least a couple of years before going back to school. They will know
what they really want to do then."
The Basic
Choices
When pursuing an education beyond a
bachelor's degree, there are two basic choices: graduate or professional
school.
On the whole, those who are interested in law, medicine,
pharmacy, optometry or dentistry will have to attend a professional school
that is specifically geared to that field. Doctors, lawyers and
veterinarians must complete professional school.
Graduate
school is the preferred choice for those entering a general field or those
who are uncertain about choosing a specific career. There are many options
for graduate school students in both academic and professional
industries.
"Professional school degrees usually prepare
one for a specific field, such as business or law, whereas a graduate
degree may offer more flexibility or a deeper focus," says Carol
Schroeder, Associate Director, University Career Center at North Carolina
State University.
Sreenivasan agrees, saying that a
professional school requires less academic work, and places an emphasis on
practical classes and lab work.
Schroeder says that it is imperative
that graduate school students have a clear idea of what an advanced degree
means to them. She recommends getting out into the working world for a few
years to discover all available options.
Schroeder -- who
serves as a career counselor for students in the high-tech areas of
computer science, computer engineering and electrical engineering -- finds
that an advanced degree can have a variety of benefits.
"An advanced degree means additional knowledge and skills that make the
degree holder more valuable to the employer, she says. "Usually the
dollars follow."
The Masters
Degree
Students who love their field of
interest often choose to attend graduate school, often disregarding the
high costs and limited job prospects a master's or doctorate degree in
many subjects, such as arts, the humanities and social sciences, may
offer.
Still, in many academic and professional
industries, graduate school training is becoming an entry-level
requirement. With majors in virtually every academic subject from marine
biology to nuclear engineering, graduate schools offer specific training
that is simply impossible to learn in undergraduate
schools.
The majority of graduate students earn a master's
degree, with the most popular academic degrees being the Master of Arts
(M.A.) and Master of Science (M.S.). Many other master's degrees are
offered in professional programs, such as the Master of Business
Administration (M.B.A) and Master of Architecture.
Master's programs generally take about two to four years to complete, in
both academic and professional studies, consisting of advanced-level
coursework, comprehensive exams and, in many cases, a thesis. The areas of
study tend to be very specialized, unlike majors in undergraduate
school.
The Doctoral
Degree
Doctoral degrees are the highest and
most expensive degrees. A doctor of philosophy (Ph.D) provides training in
research, and is a minimum requirement for university professors. Other
doctoral degrees are offered at professional schools, and train for
specific professions. These degrees include Doctor of Education (D.Ed),
Doctor of Musical Arts (D.M.A), Juris Doctor (J.D.) and Medical Doctor
(M.D.).
Doctoral programs take two to four years to
complete, and consist of coursework, comprehensive examinations and a
dissertation. The comprehensive exams involve oral presentations on a
specific area of research. The dissertation is an original research
document written with the guidance of the school's
faculty.
While these degrees are a necessity in many
academic areas, such as education and research, they do not hold much
clout in the business world.
"Realistically there will be no difference
in compensation for someone with a Ph.D vs. a Master's degree once you hit
the vice president level," says Todd Moore, co-founder of ExecuMED, a
recruitment firm specializing in the medical device industry. "At that
stage a company is more concerned about what skills and experience you can
add to the bottom line as opposed to what you studied in college. Below
the VP level, a candidate might expect a 10 percent increase in pay for a
post graduate degree vs. a bachelor's."
The
MBA-The Hottest Ticket Around
More and more
recent college graduates and experienced professionals are turning away
from academic degrees and going for the MBA. The value of an MBA holds a
strong appeal as a stepping-stone to a more rewarding career
path.
The MBA offers specialized technical and
non-technical training in several areas of business administration and
management.
Even in today's fluctuating economy,
many recruiters are still stressing the hiring appeal of an MBA. With many
companies laying off thousands of employees, earning an MBA may be the
best job protection around right now.
Companies like IBM,
Hewlett Packard, Bank of America and Charles Schwab are still competing
for business school graduates, and graduates of top business schools can
expect to earn starting salaries of about $75,000. Perhaps that explains
why statistics show that nearly 90,000 people will earn a graduate
business degree this year.
However, the typical
graduate-level business school student is not fresh out of college. The
average age for new business school graduate is now 28, and an astonishing
40 percent of these graduates are women.
Robert DePeralta, Partner/IT
Director of Resource Management Group, an El Segundo-based IT executive
recruiting firm, recommends pursuing an MBA to anyone who is interested in
business management.
"In the management field we first
look for those with advanced degrees, then we consider those with
extensive management backgrounds," says DePeralta, whose clients include
DirecTV, Citicorp, Disney, AOL Time Warner and Universal Studios. "I would
definitely recommend all managers to pursue advanced
degrees."
The most valuable skills sought by his clients
are specialized talent, degrees from distinguished institutions, reputable
references and polished intangible skills.
Technology Knows No Degree
It
seems that the only market out there right now that delivers high salaries
with low education requirements is the technology industry. MIS/IT
management positions are offered at $80,000 to $150,000 with virtually no
degree required, provided that the job candidate has 10-plus years of
technical management expertise.
Mike Daley, owner of Daley
Consulting firm, has been recruiting technical professionals for more than
16 years, and says that 90-95% of his clients aren't interested in an
advanced degree. Daley's clientele includes Wells Fargo, Bank of America,
Byer California and Macy's.
"Some of the more
sophisticated companies, such as Charles Schwab, prefer higher degrees,"
he says. "But if a person is an expert in a specific field that they have
a high demand for, they will waive the degree requirement in favor of the
technical expertise."
Daley adds that an MBA might be
useful in technology in a director's position, as it will be useful in
understanding both the business and technical side of the company. Still,
he says he has never had a client demand an MBA or Ph.D as an absolute
requirement.
"In the technology industry, my clients look
for a certain level of expertise and knowledge of technology, the ability
to communicate succinctly and articulately, and the ability to work well
with others," he says. "Salaries in technology are typically high and with
the right skills, the market is what dictates what level you'll come in
at."
Making a Move Toward Higher
Education
It is important to study the job
market before deciding to pursue a higher education. Many people go to
graduate school for the sole purpose of increasing their income. Some are
disappointed when they find that an advanced degree doesn't make much
difference in their profession.
Still, many job markets
have a high demand for master's and doctoral degrees. For example, it is
difficult to land a college-level teaching job without a Ph.D. And an
M.B.A. will certainly come in handy when competing for a high-level
business development position.
After learning more about a
your chosen job market, focus on the investment of time, commitment and
money associated with an advanced degree. How many credits will you need
to earn to complete your degree? Will the degree have a significant effect
on your career? Will the increase in pay and prestige outweigh the cost
and time commitment you've invested into your degree? If your degree costs
$100,000 and your salary increases by $20,000 upon graduation, it is
probably worth the five years it takes you to repay the cost of your
education.
Develop a realistic timeline and financial plan
for your education. Most students must maintain a full-time job while in
graduate school, so it is crucial to set a study schedule and budget that
will not leave you exhausted and broke.
One benefit
of working through school is that many companies offer 100% tuition
reimbursement for job-related coursework. However, a recent survey by
Hewitt Associates shows that only seven percent of employees take
advantage of company plans that pay for job-related courses. Take the time
to visit your human resources representative when contemplating the
financial burden of graduate school.
Lastly, keep in mind
that graduate school is very different from undergraduate school. It is a
more demanding and intense environment. When returning to school, you must
be prepared to cope with the pressures of student life, and those who have
not been in school for many years may have a hard time adjusting. It is
important to allow some time for your body and mind to adjust to a new
academic lifestyle.
The many benefits associated with
advanced study make it an attractive goal for many. Making the most of
your education and life should be a top priority.
Omid
Safi, a professor of Islamic Studies at Colgate University, earned a B.A,
M.A., and Ph.D. at Duke University, which he says was a necessary career
move as a professor. Safi says that graduate students must really take the
time to learn about the options for graduate school, and more importantly,
the people in the schools.
"Be sure that you are keenly
interested in the field itself. It is a long and arduous road. Make sure
after the program is through, there are real job prospects for you," he
says. "Go to school for the advisor, not for the name of the school. A
real advisor who will mentor you is worth much more than the good name of
a school where you will be ignored."
