When selecting a graduate school, imagine you’re buying a large appliance or a car instead of an education. Or selecting a spouse. It might help make the decision easier.
"You need to be a smart consumer and do your research," said David Petersam, president of AdmissionsConsultants, a Virginia-based admissions counseling firm. "If you're spending a lot of money on a car or television, you take the time researching what model is best for you, what features you absolutely must have, what ones are good to have, its purpose, price.
“Same with grad school. You’re spending a lot of money and a couple of years of your life. Figure out your needs.”
Steven Roy Goodman, an educational consultant and admissions strategist with Top Colleges, a Washington, D.C., admissions consulting firm, likens it to finding a spouse.
“It’s like marrying vs. dating,” Goodman said. “When you start to date, you find out about the other person and also yourself. What do you really want out of this relationship? You have to know who you are and what you want. It’s not romantic, but it helps the chances of success.”
Clearly understand your goals
Knowing what you want is the best compass for selecting the best graduate school for you. Are you getting the degree so you can progress in your company or is it an opportunity to change career directions? Are you enhancing your earning potential or marketability? Is it a personal vs. a career goal? Do you want your professors to actively be working outside of academia? Or is it because, honestly, you have nothing better to do?
Match your goals to the school’s programs. Degrees are not all equal or interchangeable. There are three distinctly different schools with MBA programs within 20 miles of each other in North Carolina’s Research Triangle.
“Our school is more technically oriented,” said Duane Larick, senior vice provost for strategic initiatives and dean of the graduate school at North Carolina State University. “Many of our MBA students are engineers or work in high-tech industries. If you want a career in banking, you may be better off looking at Duke or [the University of North Carolina].”
Do the necessary legwork
Given the investment of both time and money, choosing the right graduate school involves research, said Scott Shrum, director of MBA admissions research at Malibu, Calif.-based Veritas Prep, a firm that helps students get into graduate schools.
“It’s crazy hoping to get into private equity and attending someplace that doesn’t have a strong program in private equity,” Shrum said. “You’re in your second year kicking yourself because no one in that field is beating a path to your door.”
Most colleges list companies that recruit on campus. Find out what percentage of recent graduates were hired by them.
“If you want a career in marketing and Coca-Cola doesn’t come to the school, maybe you’re not in the best place,” Shrum said.
Select how you want to study
Consider all the options: online, on campus, at night, part time, full time or a combination. There are benefits — and realities — to each.
If you plan to work while earning your degree, the more-flexible online or part-time programs may better for you. Make a time frame. Do you want to earn the degree in two years or are you willing to take longer?
"Everyone not only learns differently but also has different personal and professional situations," said Michael Gerber, president of the Atlanta Regional Council for Higher Education, which brings together 20 Georgia colleges and universities to share resources. "Having said that, there are some advantages to actually going to class for at least part of your education. It helps you network. It teaches you to work within a teamwork situation."
Other considerations
If you need a degree to maintain your professional license, make sure the school’s curriculum is accredited in that field. Do you have access to enough library resources? Check to see what percentage of the required courses you actually want to study. Will you have an advisor? And, it goes without saying, select a school within your budget — or at least your ability to maintain the debt.
A college’s reputation also is a factor. Many say that graduating from a top school, especially all things being equal, helps. In some fields, that may be especially true, but not always.
Twenty years ago, a name carried more weight, said Price Harding, managing partner of the executive search firm CarterBaldwin. In fact, reverse snobbism is a recent trend.
“Some companies shy away from a hiring someone with degree from a prestigious school because they may believe the person won’t be sufficiently hands-on,” Harding said. “The perception is that the person’s been coddled in their upbringing and they may be less effective in certain corporate environments.”
“Graduating from a top school is not a guarantee of success,” Goodman said. “It may be helpful, especially in terms of networking and maybe getting you in the door. But some of the best graduate programs are in schools that few have heard of, but those in the field know quite well.”
The successful selection process is one of carefully whittling down schools until you only have ones that meet your personal and professional needs.
“The best advice is to apply to more than one program,” Larick said. “Don’t put your eggs in one basket.”
