More students plan to earn a graduate degree

More students are heading back to school to earn an advanced degree.
More students are heading back to school to earn an advanced degree.

For many reasons, an increasing number of students are applying to graduate schools across the country. Some students want to increase their salaries, while others want to wait out the troubled economy.

Texas Christian University recently reported that last year, about 30 percent of students planned to go straight to graduate school after they completed their bachelor's degree. Many of these individuals felt that a troubled economy would make it difficult for them to find jobs. In order to avoid wasting time on the job hunt, they decided higher education was a better option, according to university officials.

Similarly, officials from New Jersey's Princeton University recently stated that over 11,000 people applied to their graduate school for the 2011-2012 academic year. This marked a 5 percent increase from last year in the number of students hoping to enroll in master's or doctoral programs.

Many of these students hope that by earning advanced degrees they will be able to increase their salaries. According to the Bureau of Labor Statistics, this is the norm, as a bachelor's degree holder typically makes $53,300 per year, while someone with a master's earn about $65,364 annually.