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5014 – Starting a Business or Going to Graduate School: Which Is Best for You?

7th April 2020

Many people discover, after a stint in the corporate world, that a 9-to-
5 job is not up their alley. If you’re the type of person who doesn’t thrive in a
typical job yet still wants a successful career, what alternatives do you
have? If your job no longer fulfils you, what can you do to spice things up in
your professional life?
So many of us struggle with these questions, but the answer is not
the same for all. This is why it’s a good idea to have a look at two of the
most popular alternatives, launching a business or going to graduate
school, and see which is right for you.
The Pros and Cons of Graduate School
If you already have a degree, going back to school can be either
enticing or demoralizing, depending on how your academic experience has
been. If you find an academic environment stimulating, a master’s degree
or a PhD in your resume guarantees quick career progression. You can
decide to stay in academia or return to the private sector for a better
position.
As expected, getting admitted to graduate school is challenging and
can consume a lot of time and energy. There’s no need to fret about it,
however. If you’re motivated enough, you can find plenty of resources to
guide you throughout all aspects of the process. Only a click away, you can

find information about application files, phd interview questions to ask or
funding opportunities.
Depending on your academic record, you might be able to attend
graduate school with zero tuition fees and even get a small stipend for
living costs. Yet not everyone is as lucky. If you have to pay for your
master’s or PhD, evaluate whether you’re likely to see a return on your time
investment. In many professional fields, a PhD degree will bring a jump in
salary, but there are exceptions.
The Pros and Cons of Entrepreneurship
Starting a small business is a great career alternative for people who
want to fully own their time and skills. There is, however, a steep learning
curve from launch to successful operation. The challenges of being a
business owner are extensive, so you need to be prepared to use your
creativity and face many situations out of your comfort zone.
To launch a business, you also need significant savings. If your
business project demands full attention and you cannot hold a job at the
same time, you must be able to cover your living expenses with your
savings until your business takes off. Some businesses require a large
upfront investment. If you have no savings and cannot secure loans or
funding, you will struggle to implement your business ideas.
Despite all the challenges, being a business owner comes with many
advantages. You are the sole person who decides how your business runs,
and you can put all your creativity and resources into creating something
unique and lucrative. In the long-term, a small business will give you
financial stability and the freedom to use your productive time as you see
fit.

Are you looking for a temporary or permanent escape from your 9-to-
5 job? With enough patience and perseverance, this might not be as
difficult as you think. Take a risk and the results might surprise you.

lovej

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*Any items sent for review are written about 100% honestly and in my own words. Sometimes collaborative content and partnerships with brands will appear on this blog. Affiliates links are used throughout this blog.

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