It is a commonly held belief that going to graduate school is an excellent idea, since it opens up numerous high-paying job opportunities in an individual’s field of interest. Graduate school is expensive, to be sure, but the financial cost and hard work is generally rewarded by receiving prestigious job offers with large starting salaries. Unfortunately, in today’s ultra-competitive job market, many candidates coming out of top graduate schools are having a difficult time finding work in their field. There is a problem of too much labor supply, but not enough labor demand. Thus, in these difficult economic times, several top graduate schools are announcing plans to cut their admissions for the 2012 school year, and also, many students are losing interest in going to graduate school at all.
Undergraduate students are increasingly focusing on “job market ready” concentrations and majors, in order to maximize their chances at employment after college. More students are majoring in math and science, while fewer are majoring in arts and the humanities. Universities are starting to respond to this by cutting down within their arts and humanities programs. This changing mindset reflects the anxiousness of students to secure employment after their undergraduate studies. Also, the May 2012 employment numbers are out, and while there has been overall stagnation in the economy, there are a few areas where the jobs are increasing. Read more about it at “How the Overcrowded Job Market Is Changing the Mindset of Universities and Students”