Explore why you should think twice before investing time and money in a second degree.

You’re about to graduate college, and you’re facing a big choice: attend graduate school or pursue a full-time job? For some, given their goals and passions, the answer may be clear. But for many others, this decision can be a real struggle.

Farnoosh Torabi, CNET editor-at-large and So Money podcast host, tackles this decision during a recent episode of her podcast. In her Ask Farnoosh segment (starting at 15:16), Torabi speaks with soon-to-be graduate about the choice between an $80,000 job offer or attending law school.

Below are three points you should consider if faced with a similar decision.

1. Have an honest conversation with yourself

Four years of college is a long time — and after years of rigorous study, you may feel burnt out and uncertain about jumping back into several more of graduate-level academics. To examine your motivations and mental state, ask yourself the following questions:

Is the topic you’ll be studying something you’re passionate about and can see a future in?

Why do you think grad school is the next best step?

How does the prospect of graduate school make you feel?

In the soon-to-be graduate’s case, he wasn’t sure if law school — or working as a lawyer — was his ambition. He felt law school was a path mostly supported by his family.

If this resonates with you, Torabi suggests gaining work experience first. You might find you still want to return to school down the road or you may find that your priorities have changed. A little real-life experience networking, building skills and earning can go a long way. Over time, if you realize a job isn’t right, you can always reassess.

2. Consider the flexibility of your options

If you’re not ready to turn down grad school right away, deferring your acceptance by a semester or a year, and accepting a job offer in the meantime may be possible. When deferring, schools may require a rationale, outlining your personal or professional reasons for requesting a gap year and a timeline for what you plan to do during this time.

This option can give you breathing room to make a more informed decision, while gaining on-the-job training and other professional skills.

Alternatively, If you’re still in the application phase, consider programs that incorporate both a job and graduate school. While this type of program is dominated by Masters of Business Administration programs, you may find programs that offer work-study or on-site training in addition to an academic curriculum.

3. Weigh the costs

Some graduate programs, specifically medical and law school, are a requirement for those seeking to become professionals in that field. But grad school isn’t always necessary for other fields. It can be helpful to review your current student loans, if any, while weighing the additional cost of grad school against your expected postgraduate salary.

Even though your loans may be deferred during grad school, if you already have large student loan debt, taking time to consider the cost versus benefit is important. With many grad programs totaling six figures or more for tuition, room and board, this is a serious financial commitment and you want to be certain the program is offering you a real return on investment.

If you’re on the fence about the additional degree you’ll be working towards, it’s almost always a better idea to hit pause on the notion of grad school. “It’s too expensive a place to go to try to figure things out,” Torabi said. “You should be really sure why you’re there and what you’re going to do with that degree.”

DISCOUNT ON DR. DON’S BOOK RIGHT HERE ON THE GSRM WEBSITE!!

Be sure to check out Dr. Don’s book, “Road Map for Graduate Study, A Guide for Prospective Graduate Students,” right here on the GSRM website. For a reduced price CLICK HERE, go to The Book page, scroll down, click on the Order Now box, and use discount code GSRM.