Graduate Education : the bits and pieces

A recent analysis of current trend of graduate education among freshers shows a sharp increase in the number of students who have set graduate education as their top priority goal. For the sake of clarification, I should explain that freshers refer to bachelors degree holders less than about 5 years experience and graduate education refer to Masters or a PhD course. The analysis is referring to students in the engineering streams. Does this trend indicate youngsters being more interested in developing higher intellect or motivated towards research? Or is there something else that is trending?

In my opinion, there are a couple of reasons I can think of, that might explain this increased interest in higher degree courses:

1. Recession / Global Meltdown : It is a time when no one is certain, how long you are going to have your job. The probability that your boss might shut the doors upon you tomorrow morning is more than a mere threat. The only area which hasn't been much affected by the economic slowdown is the academia. And of course, it gives you a higher qualification, like an MS/M.Tech or PhD, which might be worthwhile to earn, when the tide is not in your favor in the industry.
2. Universities offering Graduate courses : Slowly but steadily, the number of quality universities offering higher degree programs has increased (and is still on the rise). Not only do they give you a world class higher degree, they also do offer scholarship schemes to take a share of the financial burden. A higher degree from a renowned university should possibly give you that extra bit of reassurance to command a better paying job or an employment in the ever growing field(s) of academia and research.
3. Alternate options : Some might feel this is a bit far fetched; but from my experience with people who are doing higher degree programs and in the industry, this is certainly one of the top option(s) among the list of possibilities being considered: a higher degree would generally be the backup plan, if you are unsuccessful in your attempt to move to your choice of employer and/or domain.
4. The genuine ones : And finally, we have people who have had the genuine interest in pursuing a higher - degree course. Generally, such students opt for the research courses like Masters by Research or a PhD degree. For such students, research has been in their bloods, as it is often coined. While for some others, it might be a new requirement that is put on them, to make them fit for their profession (as in the case of lecturers/professors)

There are a couple of guidelines which I've framed up, that might be useful for prospective students, who would like to apply for a higher degree courses. I've made this up by compiling a series of FAQ's that we've generally faced from prospective students (I would request readers to bring to my notice any points that I may have missed while compiling these).

1. Do I need a Masters or a PhD : This is one of the most often asked FAQ, if I may be allowed to use that phrase. The answer to this requires you to work out your priorities & what you want to do after completing this higher degree course. If you intend to do a higher degree to enhance your knowledge, career opportunities and so on, then you should go for the masters course. On the other hand, if you want to pursue a career in the academia or the research community, then you should favor a research based course. It need not be a PhD; there are universities that offer Masters degree by Research (MS by Research or M.Eng in some places). It is your call, one that has to be taken by carefully weighing your priorities. A PhD or research based courses are generally a long term commitment.
2. Are there any prerequisites  for choosing a research course : No, there are none. The only thing that matters is your attitude towards pursuing guided & (at most times) non-guided research. For example, research courses like PhD might require you to do extensive reading and thinking on area's that are reasonably unknown to your supervisor. Patience, ability to read extensively & comprehend and creative writing are the virtues that are generally considered as the base qualities that define a research student. 
3. Which university to choose for a course or even, which course to choose at a given university : There are a lot of guidelines & ranking schemes which can be used to decide where to apply. Two of the most prestigious ones are the QS World University Rankings and Times Higher Education (THI). These will give you idea of the rankings of universities in your field (say engineering) as well as individual rankings of the universities in each departments (say electrical engineering), which can be used a yard-stick to measure the quality. To choose among the various courses at any department (or school) in a given university, it is recommended to have a look at the course outline, objectives, prerequisites if any, and the general description of the various compulsory & elective modules that are to be completed to graduate in that course. Another criteria you may wish to consider are job prospects in that field of study.
4. General Admission Procedure : Most universities follow similar pattern for admitting graduate students. The admission revolves around the documents that you are required to send along with your application for admission. They key ones among these are the Statement Of Purpose (commonly referred to as SOP's) and Letter Of Recommendations (LOR's). SOP is your own account stating why you prefer to choose this particular course at this particular university, while the LOR is an academic reference stating your competencies and merits, as described by your supervisor. Two or more LOR's are generally required, mostly from some one in the rank of Asst. Professor or above for most universities. Regarding the SOP's, I would like to tell you a word of caution : most universities consider this piece of document seriously, do not plagiarize. Additional requirements may be imposed by certain universities like a good GRE score and a good TOEFL/IELTS score to support your candidature. Even if the university does not mandate the TOEFL/IELTS scores, it may be a good idea to send them if you have good & valid scores which may have a strong effect on your candidature.  

Some of the other criterion's worth considering are

• Fees & living expenses : This may be considered seriously as most of the higher education can offset your budget calculations by a large margin. With inflation & recession hitting the world at different rates in different parts, it will be a worthwhile exercise to get insights on the living expenses in particular. Medical expenses should also be considered seriously, since it is becoming a crucial component that can offset your calculations by a large margin, especially if your are in a foreign country to do your masters.
• Scholarships or Stipends : Some universities do offer scholarships / stipends / subsistence allowances (whatever it is called). Whenever this is the case, do pay careful attention to the conditions of the scholarship(s), period (or duration) and bond attachments, if any. It may be worthwhile to choose the best one that might fit your requirement than the one that is higher paying, to ensure that you get through with the application slightly more easily.
• Requirements of the course : Universities do offer a variety of flavors for the higher degree courses. You can generally choose between part-time & full-time. In addition, you may be eligible for a fee waiver (by accepting certain bond conditions). The duration may be 1 year, 1.5 years or 2 years for a Masters course (lower limits) with an upper limit of 3 or 4 years (depending on the university). The course may or may-not require a dissertation (project). Some courses may require you to do a research type thesis as one of the graduating requirement. Ensure that the course that you've chosen gives you the flexibility and meets your aims/objectives.

I hope that this gives you some insights into applying for a higher-degree course.

PS : The points that are considered are solely my view. It is not intended to hurt anyone.