Graduate school quandry

Graduate School
1

<p>Hi all,</p>

<p>I used to be a fairly active member about 4 years ago when I was looking into where to do my undergrad (I ended up at McGill University in Montreal). Undergrad worked out great and I'll be graduating (yikes!) in May of 2008. It went by so fast!</p>

<p>Now I thought for the longest time that I wasn't going to pursue any more school after my undergraduate. However, I've been thinking and getting input from professors, etc, and now I'm totally undecided.</p>

<p>My bachelor's degree will be in business, concentration in Operations Management and a minor in Statistics. Actually, as it worked out I have more statistics courses than Operations Management or Operations Research courses, but such is the nature of the degree structure here at McGill. Now I know that there are jobs out there that I can probably get with this degree, so my searching about grad school is not necessarily employment motivated.</p>

<p>Basically, what happened is I realized a little late on how much I really do enjoy statistics. It's a subject I would love to get some advanced knowledge in and I would like to work as a statistician after college more than I would like to work as a manager in a plant, or other such OM jobs.</p>

<p>I'm a dual citizen with the United States and New Zealand, though I haven't lived in NZ since I was little. I've always wanted to go back. University of Auckland has quite a good statistics department (anyone ever heard of R? it originated there) and I love the school. I've been e-mailing back and forth with the department and they think, based on my qualifications, that I can get into their Post Graduate Diploma in Statistics (with the option to continue for another year afterwards and complete the Master's degree). </p>

<p>So I guess my question is, do you think that this option is worth considering? I get domestic tuition in NZ, but I hear people say that european style master's degrees are not as highly regarded in the US as US degrees. I just don't want to shell out $40,000 at least (counting cost of living in NZ, tuition, travel between the US and NZ...) over two years unless I'm getting a good marketable product. And heaven knows I don't want to make myself <em>LESS</em> marketable from going from a business undergrad to a science master's. </p>

<p>While I'm usually not a huge fan of getting advice from people I don't really know, I recall that people on this forum brought up wonderful points and were very helpful when I was searching for my undergrad, so I figured it would be worth another shot. </p>

<p>In summary: Should I just settle down and get a job since I have a good degree with a decent (but not spectacular) GPA? Or should I pursue the grad school option? Which of these do you think would help me the most in the long run?</p>

<p>Thanks all!
Noelle</p>

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<p>This would be a no brainer if it were not for the money part. Would you need to borrow the 40K? </p>

<p>Regarding having a NZ degree, I think employers in the US are becoming a bit more global in their view (reluctantly?), so a NZ degree will probably receive some value here. But what you don't get is the value of a network - quite a few jobs happen here because of connections between faculty and industry.</p>

<p>So, I doubt you would be less marketable (you need a PhD to do that!), but you may not get much of a bump up.</p>

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<p>Thanks so much, newmassdad. Your comments were very helpful. I don't think I'd be worse of, connection-wise as I'm finishing my degree here in Mtl but hope to get employment in Seattle (where most have never heard of McGill. Heck, most people have no idea where Montreal even is except somewhere in Canada). You are right though, I know in the jobs I've had networking/connections/that "foot in the door" has been invaluable.</p>

<p>I guess my real question is "Given where I'm at, is the expenditure on a Master's degree a good idea in the long run?". It's a tough one too because of all the "non-financial" costs/benefits to consider...the experience, the potential of working in a field I enjoy, the stress of doing a graduate degree, etc.</p>

<p>Has anyone here done a master's/known anyone who has done a master's in statistics? How useful did they find it? I know I'd probably do one with a Business/Operations Research bent to it, something applied to the real world.</p>

<p>Take care all!
noelle</p>

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<p>I know 2 master's in statistics. One works in the financial sector. The other works in the engineering sector. Both have no problems with money or supporting their families/etc.. They both did the same graduate program (top 10-20) west coast. But I'm not sure if that matters too much at the MS level. Good luck on your decision. I'm sure it will work out either way.</p>

5

<p>Noelle,</p>

<p>I know McGill! Maybe that's because I live in Montreal, but I still know it. Good school and beautiful campus.</p>

<p>I cant really offer any opinion on employability with a stats masters, but I imagine it will open some doors for you just because it is such a useful degree. As far as the reach of a degree from Aukland, I wouldnt worry much about it. Will it have international weight? Probably not, but then again no schools have that type of pull aside from a handful in the world. As the above poster also mentioned, I think that US employers are becoming more open to international degrees, especially ones from english speaking (dare I say commonwealth?) countries. Unlike Quebec, where any degree not obtained in Quebec or France is looked down upon, the US has always seemed a bit more open to degrees from overseas, provided they are from schools in industrialized nations.</p>

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<p>Hey! That's awesome that you know McGill. I've been really happy here in Montreal for the 4 yrs I've been here - sad to see it end (well maybe not the winters...)</p>

<p>I've heard that it's a useful degree because a lot of people hate stats so there's more data to be analyzed than people to do the analyzing. It's nice to hear about people who didn't have any trouble finding work. Very heartening! I guess people move all the time and somehow they manage to find jobs, so I shouldn't be too worried. Who knows, too, I could get a good job in Auckland and stay there to get some work experience before moving back to the states. THere's a lot of "ifs"</p>

<p>And as for the money, I have enough to pay for some of the degree. By the end of this year, I think I should have about $20,000 to $30,000 left (from my college fund from undergrad). Scholarships are hard to come by but I could probably get a part time job either on campus or as a TA/marker. That'd bring in about $1,000 a semester? Furthermore the year doesn't start until February so I'd be able to work from May through the Christmas holidays to save up money. My parents would be fine with my living at home to save money. So figure I could save a couple thousand American this way, I think financially it's viable. It just comes down to is this a smart thing to do with that money. I'd use up most of my savings. The business student in my is screaming "Look at the opportunity cost!" - would that big chunk of money be better spent on a car or a downpayment on somewhere to live? </p>

<p>Anyway I am leaning towards giving this a go. I know it's a long way down the road, but if I'm going to begin the jobhunt process I need to start now, so that's why I'm trying to figure things out :-)</p>

<p>Thanks for your advice. It's really helpful and I appreciate it.</p>