What Are the Advantages of Taking MOOCs Instead of Going to Graduate School?
Two months ago I left my job as a Financial Analyst on the Kindle Content team at Amazon to pursue a year of online education and self-study. I joined Amazon immediately after graduating with an economics degree from the University of Washington in Seattle. My plan was to work for a few years, and then either enroll in an MBA program or a more technical graduate degree that would accelerate my career.
I researched my options; I visited websites of top MBA programs like Harvard, Stanford, and the University of Chicago. I also considered M.S. in Data Science programs like those at Northwestern University and UC Berkeley. At one point, I even considered a post-baccalaureate degree in computer science. Ultimately, I decided that none of these paths were ideal, and opted for a year of self-study, with the ultimate goal of becoming a data scientist. I am working towards this goal by earning specializations and nanodegrees via the online learning platforms Coursera and Udacity.
These are the reasons I opted for this path instead of attending graduate school.
1. Program Cost
The difference in cost between the various options is staggering. A typical top-tier MBA program costs more than $120,000 in tuition alone. A one-year M.S. in Data Science is a little better - the tuition for the Data Science Master’s at Berkeley costs $60,000. Specializations on Coursera typically cost between $200 and $500, and Udacity nanodegrees cost $200 per month with a 50% tuition reimbursement upon program completion. I am taking 6 online certificate programs in data science, Java and Python programming, data structures and algorithms, and machine learning that I estimate will cost less than $4,000 combined for a full year of study.
2. Convenience
Other than cost, convenience is the most compelling reason for pursuing online education through online platforms. Online courses are more convenient than traditional on-campus programs in nearly all respects. I enrolled in online courses the same day I left Amazon instead of having to fill out numerous applications, study and take standardized admissions tests like the GRE or GMAT, attend admissions interviews, and wait months for classes to begin. In addition, I saved myself the trouble of relocating to a new city since I am able to watch lectures and take quizzes on my laptop from the comfort of my own apartment, or even at the neighborhood coffee shop. I can complete courses at my own pace, and if I want to work ahead, I can easily do so by submitting assignments weeks, or even months before the suggested deadlines.
3. Quality of Teaching
Online courses are taught by entrepreneurs and pioneers in their respective fields who are highly motivated to share their knowledge with the world. On Coursera, the class on Machine Learning is taught by Andrew Ng, one of Coursera’s founders and a foremost researcher in computer science and machine learning. The Machine Learning Engineer Nanodegree offered by Udacity is taught in part by Sebastien Thrun, Udacity’s CEO and an artificial intelligence pioneer who led the development of the Google Self-Driving car project before leaving to found Udacity. There is no doubt that the brightest, and most exceptional individuals teach these courses, excited to pass their knowledge to their students.
This stands in stark contrast to my experience with on-campus teaching. During my senior year, I enrolled in an advanced macroeconomics course. It was probably the least engaging class I ever took while I was attending college. The professor mumbled while writing on a chalkboard, and was clearly not interested in teaching; he never gave feedback on assignments, despite there being less than 15 students in the course. It was practically impossible to learn anything during class; I was proud that I managed to get an A- in the class by forming an independent study group and reading from the textbook, but it was clear I was not receiving the value for which I was paying thousands of dollars.
4. Excellent Feedback
The quality and speed of assistance and feedback in online programs is truly incredible. When struggling with a concept or assignment, I post a question on a discussion board, and typically receive helpful responses from the course staff, or even other students, within hours. While taking the Intro to Programming Nanodegree on Udacity, the amount, quality, and timeliness of feedback has far exceeded anything I ever received during my undergraduate education. I have received full code reviews just hours after submitting an assignment with feedback and helpful tips for improvement. In contrast, while taking a programming course at the University of Washington, I did not receive grades, let alone feedback, on assignments and tests for weeks after submitting them.
5. Curriculum Customization
Although traditional graduate education options have electives, you are still fairly limited in what courses you can choose to complete your degree. With Coursera and Udacity, I am free to create my own curriculum, and take whatever courses and programs I think will be most beneficial for my education, career development, and long-term goals. I am able to place special emphasis on areas where I need to improve and develop, and spend less time and energy on areas where I am already knowledgeable.
6. Skill Signaling
In the current job market, this is probably the single largest advantage of a traditional graduate degree program. A master’s degree from a top tier university is a strong signal to employers. An MBA from a top program is all but guaranteed a job at a top financial, consulting, or technology firm. Nearly everyone I worked with in the business or finance side at Amazon had an MBA or graduate degree from a top tier school – Princeton and Carnegie Mellon graduates were particularly common. However, there are many successful people in business that do not have graduate degrees. On my team at Amazon, neither the SVP nor CFO had graduate degrees. The CEO, Jeff Bezos, does not have a graduate degree either. It was evident that top performers were rewarded with interesting, challenging projects and promotions, regardless of whether or not they were a graduate degree holder.
In addition, experience at reputable companies can be just as important on a resume, if not more so, than a graduate education from a top school. Excellent job prospects abound for alumni of Google, Goldman Sachs, and McKinsey and Company, regardless of whether these individuals are graduate degree holders. Since I already had experience, and had received a promotion, during my time with Amazon, the importance of signaling seemed much less important to me than it otherwise might have been had a I decided to work at a relatively less well-known company after completing my undergraduate education.
