More students pursue advanced degrees

The number of undergraduate students pursuing advanced degrees -- both at Penn and colleges nationwide -- has increased overwhelmingly in the last two decades. According to a study conducted by the American Council on Education, two-thirds of undergraduate freshmen surveyed in 1995 plan to apply for a degree beyond their bachelor's. By 2000, the ACE projects, 15.5 million students will be studying in graduate and professional schools in the United States -- almost 30 percent more than in 1980. Linda Knopp, a research analyst for ACE's Division of Policy Analysis and Research, attributes the increase to growing competition in the workforce. "Much of it has to do with [the fact that] a lot of people in the population already having bachelor's degrees," Knopp said. "So students think pursuing an advanced degree will distinguish themselves from the rest of the field." Knopp added, however, that some students do not find it necessary to continue studying after they receive a bachelor's degree. "A lot of it depends on the field in which the student is studying," she said. "In some fields, a bachelor's degree is sufficient to get a job." An overwhelming percentage of College of Arts and Sciences graduates at Penn try to make themselves stand out through further study. According to Peggy Curchack, assistant director for Career Planning and Placement for the College, 35 percent of 1995 College graduates immediately began pursuing advanced studies. In the past, that figure has jumped to nearly 100 percent within a few years after graduation, Curchack added. "Within five years of graduation, about 90 percent of College graduates are entering or have entered graduate or professional schools," she said. "What happens for many is that they work for a year or two first." Curchack noted that pursuing a degree beyond the bachelor's is "a matter of continuing to be positioned competitively." Students at Penn and throughout the country have found that an advanced degree has become more valuable in areas such as engineering, medicine, law and business -- all fields in which students receive a professional degree. At Penn, 45 percent of all graduate and professional students who graduated from the College between 1984 and 1987 were studying either law or medicine, according to Curchack. And approximately 80 percent of all College graduates who pursue an advanced degree do so at a professional school as opposed to a graduate school. "For the most part, Penn grads go more often to professional schools -- such as law, business, journalism, medical -- rather than pursuing Ph.D.'s," Curchack said. And pursuing an advanced degree can be well worth it, according to the U.S. Department of Education. Studies show the average annual income in 1992 was $74,500 for those who hold professional degrees, $41,000 for an individual with a master's degree and $32,000 for those with bachelor's degrees. "The higher the degree you have, the more amount of money you earn over a lifetime," Knopp said. She added that the desire to pursue an advanced degree will likely continue -- but possibly not at such a rapid rate. "It's hard to say for sure if the trend will continue, but it very well could," she said. Curchack noted that the percentage of College graduates pursuing advanced degrees has been relatively constant. "They're incredibly well-qualified and competitive -- in the best sense of the word," she said.