Dispelling the Myths About Advanced Degrees

Too often, I hear people say they can’t afford to pursue an advanced degree, especially a Ph.D., and it breaks my heart. They think it’s financially out of reach, that it’s a luxury reserved for those with deep pockets or that they’ll be buried in student debt forever. As many of you already know, those myths are just that: myths. Graduate school, and particularly Ph.D. degrees, are more accessible than many people realize. As a community, we have a responsibility to help dispel these myths and open more doors for more people to unlock the incredible opportunities that come with further education – whether it’s a Ph.D., master’s or even nondegree path such as a certification.

The INFORMS community understands how powerful diversity is, not just in terms of demographics, but in the variety of educational and career paths our members take. Whether you’re just starting your career, have a high school diploma or hold a bachelor’s degree or Ph.D., your voice and expertise matter. Every perspective is crucial to solving the world’s biggest challenges.

Why I Love Encouraging Advanced Degrees

As someone who has walked the path of graduate school, I can’t help but be passionate about encouraging students to pursue an advanced degree. It’s not just about the degree itself but about what it represents: a gateway to incredible career opportunities and a chance for intellectual growth and to make a tangible difference in the world. (Of course, I didn’t ignore the research that shows that those with more education also earn more money in their lifetime.)

There’s something truly special about watching someone dive deep into a topic they’re passionate about, knowing that their research or expertise could one day change the world. Whether it’s solving global supply chain issues, advancing healthcare, tackling climate change or the countless other issues of our time, advanced degrees provide tools to lead and innovate. And these opportunities extend far beyond academia. Master’s and Ph.D. degrees, and other postcollege credentials, can lead to new opportunities in industry, government, nonprofits or wherever someone feels called to make a difference.

In addition to career growth, there’s also the personal satisfaction of contributing to something meaningful. Advanced degrees open doors to high-impact roles, and of course, many times, they lead to better pay, too. But more than that, they give people a platform to influence decisions, shape policy and push boundaries.

That said, I also want to make something crystal clear: a Ph.D. or other advanced degree isn’t the only way to contribute. Not everyone needs an advanced degree to change the world and be part of the INFORMS community. The strength of our community lies in the diversity of our paths – every experience, every background and every contribution matters. We all know individuals with the brightest minds who did not attend graduate school and have made extraordinary contributions to their fields with invaluable expertise and passion.

firmly believe that even though advanced degrees are valuable, your education level does not change the fact that you belong in the INFORMS community, driving innovation and smarter decision-making.

Encouraging advanced degrees is about offering one powerful path among many and reminding people that it’s an option to explore if they’re passionate about research and discovery. It is one way to empower those who are inclined to dive deep into a subject and bring fresh, data-driven solutions to complex problems.

The Myth of Affordability

Now, let’s get to the heart of the myth I want to dispel: the idea that graduate school is unaffordable. I’ve heard many talented, passionate people say, “I’d love to get my Ph.D., but I can’t afford it.” There are many graduate programs that offer much more financial support than people realize. Financial aid, tuition waivers, research assistantships and teaching assistantships are often available, covering tuition and even living expenses.

These assistantships and funding options are game-changers. Instead of facing a mountain of debt, students in these programs can focus on their research and professional development. Some assistantships even come with stipends, which can make living and studying full time financially feasible. Unfortunately, many students don’t know that such financial support is often standard and not beyond their reach. By making this information more visible, we can open possibilities to those who might not have considered graduate school because they assumed it was beyond their means financially.

Broadening the Pipeline

One interesting observation I’ve noticed is that non-U.S.-born students have a better understanding of these financial offerings than U.S.-born students. This may be part of the challenge we face in the U.S. graduate education system, especially in fields like operations management and industrial and systems engineering, regarding the underrepresentation of domestic students. International students have long played a critical role in the field, with 71% of full-time graduate students in industrial and manufacturing engineering coming from international backgrounds in 2019 [1]. In fact, the National Science Foundation reports that 43% of STEM Ph.D. degrees in the U.S. in 2020 were awarded to international students. This is great for global collaboration while also highlighting a need to encourage more domestic students to pursue graduate education, a point that is attracting increased attention and concern in the U.S. Congress and elsewhere.

We need to build a sustainable talent pipeline by making sure that all students – domestic and international alike – feel supported, prepared and encouraged to pursue these paths. By expanding the pipeline, we will ensure a brighter and more impactful future for our fields.

How Can We Make a Difference?

So, what can we do? First, we can all do a better job spreading the word. As mentors and professionals, we can do better at demystifying the process of pursuing graduate education. Let’s help students understand the financial support options available and make it clear that graduate school is not just about attaining a degree for its own sake, but rather, it goes hand in hand with the passion, curiosity and determination to make a difference.

We can also share success stories to bring to life the experiences of those who have pursued graduate school or taken different paths to inspire the next generation to follow their passion, no matter which educational path they chose or where it has led their career.

A Call to Action for Everyone

I encourage you to share your educational and career journey to inspire others – no matter what it looks like. Let’s show the world that regardless of the path you take, you can make a profound impact, and INFORMS is your lifelong professional home to help continue fostering your passion and excellence.

Graduate education isn’t the only way to change the world, but it’s one powerful tool within people’s reach. Let’s break down the barriers to education – whether through advanced degrees, on-the-job learning or another route – and celebrate every contribution, building a stronger professional community for INFORMS and all those we aspire to serve.

Reference

1. https://nfap.com/wp-content/uploads/2021/08/International-Students-in-Science-and-Engineering.NFAP-Policy-Brief.August-2021.pdf