Thinking About Grad School? Think Again

By Marty Nemko

A Rand Corporation report concluded that universities granted 25% more doctoral degrees in science and engineering than could be absorbed by the workforce..."Rand charged that universities are oblivious to the job market...Thousands from other professions face the same situation.... An amazing 16% of newly minted MBA graduates of Stanford University were unable to find jobs. Less prestigious business schools fared even worse... Experts project that of the millions of university graduates, only a mere 20% will find the well-paying, challenging jobs for which they were trained." (Phi Delta Kappan, October, 1997.) Now, graduate schools admit even more students.