Its what we, the current generation, plan to do once we finish our graduate degrees. There are two broad options as most people see it; go for higher studies or start working. Now here's the drawbacks in both situations.
Let me start with the latter.
Now everyone knows that the world is in a phase of economic recession, with stock markets crashing, companies shutting down, entrenchment, layoffs, cost-cutting measures and what not. In the words of our Home Minister and former Finance Minister P Chidambaram, India isn't facing recession but rather a slowdown.
Whatever be the case, it is very clear that getting a good satisfying job won't be easy, and the pay wouldn't be what it used to be either.
Apart from this, most elders would advise us to finish all our studies first, and then start working. There are two reasons for this from two different point of views.
From the elders' point of view, they seem to think that once we stop studying, we will lose our rhythm, and therefore not be able to pursue further studies with the same fervour, as we would do, if we continued studying. While there is a certain amount of merit to this point of view, how many of us actually study all throughout the year?? :P
Secondly, from my point of view. The things we study in college and the things we are made to do at work, are so completely different, that going back to studies after working would seem like taking a step backwards. The two project experiences I had in the past two summers have taught me, that not much we learn comes into use practically. Also the working environment is so much different than college and actually quite better in some respects. Like generally office hours are from 10:00 in the morning (so much more sleep if office is close by :) ), Saturdays are holidays, etc. (speaking of software companies in general). After being in a healthy work environment, the mind will never be willing to go back to the confines of a classroom to listen to lectures which will eventually not come into use.
So bottom line is that going to work is not a viable option, unless its a family business or you start your own firm or something like that. Your placement won't be justified because of the tough economic period.
Now we come to the option of pursuing higher studies. For us engineering students, we have MBA, MS and MTECH. For all 3, one common problem will be the substantial rise in number of candidates appearing for these exams.
Those interested in the technical aspect would like to go for an MS degree from a foreign university. Now as tempting and awesome as that seems, the whole affair is very expensive. Most students in the past, who went on scholarships, would work over there along with studying, so as to meet their needs for boarding and lodging. With the people of United States alone, having lost 2.53 million jobs in the past year, we cannot go there and hope to get lucky with finding a job near college.
I have never been a fan of MTECH for no real reason. It just never appealed to me. But i guess, its a good option for those who want to work in core companies of their field. Getting a specialization in their field, will help tremendously.
Lastly we come to MBA. Indian MBA degrees, especially from reputed institutions are priceless. This will be the examination, that in my opinion will see the largest increase in candidates. It is within the country, therefore lighter on the purse-strings, it is a very good CV-booster, and lastly, the course duration is long enough for the economic crisis to have passed(hopefully).
My uncle, a retired Navy officer, would always tell me, "why are you choosing between MBA and MS; do both..." and I would always laugh it off, since I was purely interested in MS. But I guess with the changing times, doing an MBA first and then going for MS doesn't really seem such a bad idea.
Comments anyone??
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