IOA
A graduate degree is normally a means to something else. My PhD enables me to be a professor at a university. Adjuncts teach in my field with only an MA but you cannot be fulltime. Outside of academia, professional degrees are signal of specialization and expertise. Some argue it's the new BA, but if you put that aside, it's really about expertise. So it's all about what you want to do. I would not pursue a degree in an area you don't like because you think it's what you should do or because you'll make a lot of money. I went to a wedding once where the bride and her friends all went to the same top ten law school and 7 years out only 2 were still actively working as lawyers.
In terms of universities, it's what the student makes out of it. In my experience, with prestigious and lesser ranked schools, the higher the incoming SATs the faster the students can work, the more they can read in a week and the more you can expect from their incoming preparation as a group. But it does not speak to dedication, willingess to learn interest or anything that is individually driven. Prestigious universities offer more extras, speakers and the like. But remember at all levels, professors vary, at all levels, you should be able to find full time faculty with phds doing research, they are experts in their fields and can share with any interested student more than they might with the group. Plus at some large research insittuions, access to the star profs can be limited.
In terms of admissions, it's been awhile, but if your program requires a test, that can often compensate for erratic undergrad. Alternatively, a good personal statement can work wonders at explaining as can good recommendations.
The most important thing I can say, particularly about a PhD, academic work is self driven, once you are doing your own research, you are the motivating daily factor. Not everyone has that skill some in my program did great until the time came to design their dissertation, and ultimately dropped out. Some work best with a boss to answer to or deadlines. I tend to create artificial deadlines for myself but not everyone can do this.
So the key question is what do you want the degree for, then where do you want to go get it, and if that program can't help you to your goal then achieving that degree isn't worth it.
HTH,
DeHe
