Deciding whether to go back to grad school is one of those big life choices that can leave your head spinning. Between the tuition costs, time commitment, and sheer effort involved, it’s completely normal to pause and ask: Is another degree actually worth it?
The truth is, a second degree isn’t a guarantee of career success. But under the right circumstances, it can open doors that may be difficult to access with your current qualifications. Whether you’re feeling stuck in your current role, trying to move into a more advanced position, or looking to transition into a new field, knowing when another degree makes sense is important.
Let’s look at the signs that graduate school could be the right move for your career and how to determine whether the investment makes sense for your goals.
Start With the Career Goal, Not the Degree
Before browsing graduate programs, start by identifying the role, responsibility, or career change you want. Then ask whether that path actually requires an advanced degree. Reading several job postings can help you spot qualifications that employers repeatedly ask for.
It is also useful to distinguish between needing a credential and simply wanting to strengthen your résumé. If a degree is a requirement, you may not be considered without it. But if you want an additional qualification to stand out, experience, certification, or targeted training may offer another route.
Career coach Carli Fink notes that degrees still matter for some corporate roles because employers may view them as evidence of persistence, intellectual rigor, and the ability to work through challenges. However, she advises combining education with the skills employers need.
Rather than choosing between a degree and practical skills, consider how a graduate program can help you build and demonstrate both.
Look at What Your Current Degree Is Missing
A graduate degree can make sense when your current education no longer matches where you want your career to go. The gap might involve specialized knowledge, leadership skills, research experience, or technical abilities that your existing qualifications don’t provide. The key is to identify that gap clearly rather than simply deciding that you need “more education.”
That matters as the skills employers want continue to change. Fortune recently reported that U.S. job postings requiring AI skills have doubled since 2023, while women accounted for just 26% of hires into these roles in 2025. This is a reminder that having a degree does not necessarily mean having the skills employers currently seek.
Before committing to another degree, check whether the gap can be filled through a certificate, targeted training, or hands-on experience. If a smaller step gets you where you need to go, a full graduate degree may not be necessary.
Consider Whether the Degree Opens New Roles and Paths
This is the heart of the decision. Look beyond the degree title and examine the roles graduates typically pursue. Does the program prepare you for responsibilities you can’t easily access now? Check actual job requirements rather than assuming another credential automatically leads to better opportunities.
Some paths require specialized advanced education, such as leadership, education, research, or advanced practice. You may stay in the same industry but get a different role after upskilling.
Doctor of social work programs are one example. As Tulane University notes, the DSW program provides high-level training for professionals in the field of social work, teaching key principles in areas such as project management, applied research, and grant funding.
A DSW may suit practitioners with years of field experience. Because these candidates are often still employed, many consider online Doctorate of Social Work programs, which can let them keep working while studying. Before enrolling, define the outcome you want and compare curriculum, format, cost, and career relevance.
Calculate the Real Cost of Going Back to School
Going back to school can be a significant financial commitment, with tuition making up only part of the total cost. According to the Education Data Initiative, 21st-century college costs have outpaced inflation by 41.7%. On top of that, average tuition and fees have surged 93.2% since the 2005–06 academic year.
Before enrolling, add up the full cost of the program, including fees, course materials, and any expenses related to internships, fieldwork, or research. If you plan to reduce your working hours, factor in the income you could lose while studying. You should also consider the time commitment and how it could affect your existing responsibilities.
Finally, think about the potential payback. Compare the total cost of the degree with realistic changes in income or career opportunities. A simple spreadsheet can help you see whether the investment makes financial sense before you commit.
Consider Whether You Can Earn While You Study
Many graduate programs are designed with working professionals in mind. Online and part-time formats, evening or weekend classes, and flexible schedules can make it possible to keep your job while earning a degree. Some employers also offer tuition assistance, which can reduce the amount you need to pay yourself.
If you need additional income, flexible work can be another option. The World Economic Forum notes that gig-economy companies can offer flexible working patterns for students who want to earn while studying. This could include freelance work, contract projects, or other short-term opportunities that fit around your classes.
However, staying employed does not eliminate the time cost of graduate school. Working while studying can leave less room for rest, family, and other responsibilities. Before enrolling, consider your current workload and be realistic about how much time and energy you can commit to both work and school.
Don’t Ignore the Opportunity Cost
Going back to school involves more than tuition and fees. You also need to consider what you could be giving up while studying. Two or three years in a degree program could otherwise be spent gaining hands-on experience through a promotion, taking on a stretch project, or making a strategic job change.
However, broader economic data underscores the enduring financial returns of structured credentials. According to a study by economists at the Federal Reserve Bank of New York, the typical college graduate had a 12.5% rate of return on their education. This study analyzed education costs against post-graduation earnings and found the return to be well above the threshold for a sound investment.
The analysis weighed direct costs, including tuition, fees, books, and supplies, against opportunity costs, defined as forgone wages students could have earned by working instead.
Note that this figure applies to college education rather than specifically to another graduate degree. Before enrolling, compare both paths and consider which one better supports your long-term career goals.
Frequently Asked Questions
How do you know if another graduate degree is worth it?
Another graduate degree may be worth considering if it is required for your target role, fills a specific skills gap, or opens career paths that are difficult to access with your current qualifications. Compare the program’s cost, time commitment, and potential career benefits with alternatives such as certifications, work experience, or a job change.
Who might consider a doctoral program like a DSW?
A doctoral program like a DSW may suit experienced social work professionals who want to move into advanced leadership, education, research, or organizational roles. It can also be relevant for practitioners seeking deeper expertise in their field or preparing for positions that require doctoral-level training and specialized knowledge.
Is it possible to work while earning a graduate degree?
Yes. Many graduate programs offer online, part-time, evening, or weekend formats designed for working professionals. You may also be able to maintain your income through your existing job, employer tuition assistance, or flexible freelance and gig work. However, working while studying still requires careful consideration of your available time and energy.
Statistics at a Glance
| 41.7% faster than inflation | College costs have outpaced general price increases since 2000. |
| 93.2% increase | Average tuition and fees are substantially higher than they were in 2005–06. |
| 12.5% rate of return | College education can generate significant long-term financial returns through higher earnings. |
| 26% of hires | Women hired for U.S. jobs requiring AI skills in 2025. |
| 2× since 2023 | U.S. job postings requiring AI skills. |
Going back to school is a significant commitment, so the decision should be based on more than the appeal of earning another credential. Start with the career outcome you want, then determine whether a graduate degree is necessary to get there.
Look at the skills you need, the roles the degree could open, the total financial cost, and what you may give up while studying. Compare it with alternatives such as gaining experience, earning a certification, or changing roles. If the degree still makes sense after weighing these factors, you can move forward with a clearer understanding of what you are investing in.
