Should You Give Up Your Salary and Go to Grad School?

Lindsay Ellis:

Big layoff announcements and growing fears about the economy usually mean more applications to M.B.A. and other graduate programs. But this time, career advisers and analysts are preaching caution.

Signs of a slowdown generally spark interest in graduate studies from both recent college graduates and those in the middle of their career. What better time to pause a career and acquire new skills for when the boom times return, the logic typically goes.

But this isn’t a widespread downturn, and the broader labor market remains strong. In addition, higher inflation and rising student-loan interest rates are complicating the calculus of whether it pays to leave the job market for a couple of years to notch a higher degree.