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and the value of the degree dropped because the market was oversaturated. On top of that, people were six figures in debt and dealing with a highly competitive market with pay squeezes. If you’re thinking now is a great time to get that advanced degree, be very careful. There’s no guarantee 2-3 years from now will be any better.
Rising Star
Word of advice, if 2-3 years from now the situation isn’t better that today we might as well all go f ourselves.
Rising Star
So that’s what Trump was telling us with the cleaner injections. Subtext y’all.
I think if the plan was to get a degree, getting it while you would be otherwise unemployed is smart. If the plan was not to get another degree, maybe don’t burn 200k hoping it pays off
Pro
I can’t speak to MBAs but I came out of a top 14 law school in 2002 with good grades, passed the bar and couldn’t find a job for over a year. Not even as a receptionist for $9/hour. When I did get a job it paid $52k/year in San Francisco. Never a guarantee so the only reason to go to grad school is because you truly want it. 
As someone hiding in grad school rn my current econ prof said to hell with the advanced degree and we should get a potato farm in Idaho
Why’s that? My family owns a potato farm
I agree that jumping into grad school is not a solution for everyone right now, and it should always be considered with caution, but it isn't quite as bad as you make it sound.
The glut and value decrease is mostly true for lower end schools. If you had a degree from Harvard biz/law or other top 10, you would most likely be fine, but if you went to a school outside of the top 30-50, then you might be screwed. The value of a professional degree outside of high end schools can be questionable.
Also I don't think it is true that "not much had changed" between fall 2008 (Lehman gone, unemployment rising, market heading downhill) and fall 2010 (unemployment declining, market up 17% that year). I would much rather experience 2010 growth than 2008 decline.
If you’re going to a top 10 school, yes, you’re going to be fine. And maybe I was a bit too narrow in my post. But if you’re saying “outside of the top 30-50, then you might be screwed,” realize that’s more than 1/2 of all students.
Take law school at the upper end of your parameters: Last year had about ~ 40k enrollees. Figure 350 per class * 50 = 17.5k.
And the pay squeeze will still affect many of those who are able to get jobs.
H/W/S or you’re wasting your time imo. ROI is likely negative after opportunity cost.
This true if you’re a very self motivated/talented person, but most people in consulting are not. As you say, most are “wave riders” and benefit from a structured path.
Rising Star
Fair point, but that was impacted by the tepid recovery coming out of the GR - it's going to be difficult to predict the recovery curve here.
Chief
Uh, as someone who went to grad school in 2008 with zero job offers over $32k, and graduated in 2010 into a job starting at $70k.... things definitely changed in the job market.
Are we really pretending that there wasn’t an appreciable difference between those two points in time?
People in their 20s and 30s are living thru the third unprecedented financial crisis of their lives.
If we don't have hope that things will get better from here, then why bother with anything?
Yep. Makes me feel like I’m never going to achieve close to the financial stability my parents had or be able to provide for/take time off work to raise a family.