Pros and cons of graduate school?

[sans-hubris]

I have a few years to think about this, but I'm trying to figure if I want to go to graduate school for Computer Science. I'm the type of person that likes to create new technology, not just watch it happen. I find the fun in creating something that may change the world in some small way. From what I know, graduate schools are the best places for this.

However, I have been told that this carries with it a stigma in the business world. Not that that matters too much since I could always become a professor since CS professors are in very high demand right now and probably will be for quite some time. What I've read is that businesses think that graduate students work on obscure projects that have little or no applications in the business world. Of course I know this is not entirely true since otherwise colleges and universities would not be trying to copyright and patent their student's work for their own profit. And many businesses are too short-sighted or do not have enough technically literate people to see the applications (think artificial intelligence.) Of course, the idea of this stigma may not be true either. I'm not really sure.

OTOH, I could just wait until I really have to make the decision.

[CountZero]

First - to clarify - Here in Europe (Belgium) we have 2 different kinds of education

- graduaat informatica (hogeschool(litteral translation is 'high school', but it isn't high school)), its college, 3 years (compares to bachelors degree I think). It mainly focuses on technical and practical skills.
-licenciaat Informatica (univerity, 4 years, compares to masters degree I think, focuses mainly on computer theory and related stuff , very hard math courses, courses like Quantum fysics and artificial intelligence, for example )

Now, I guess we'd be talking about licenciaat-graduate school.

I'd be in it weren't it for those blasted math courses. And when I mean difficult I mean coming home , studying , sleeping and back to school again. Basically giving up your social life.

Now, to answer your question of available work: it seems to me, having worked @ several It companies/departments, in various sizes, that it takes 2 factors to hire 'theory-minded It people', to work as R&D, etc.

1)Employer : Really, really big company or specialized companies . Really big companies usually have the funds and the need for their own R&D department. Specialized companied can range in all sizes , colors and flavors. There aren't that many R&D companies out there, so these jobs are bound to be limited. ALL major big companies need computer R&D , however. They need more practically-minded people however, so don't try your 'funny A.I. stuff' or they'll probably fire your ass. If youmanage to get a good job @ a development company (ranging from Nasa to your average upcoming techgorilla-company), kick back, relax, and enjoy life. It's great. (For you at least)

2)You have to be really good at it. As you said before, teaching is fun , it pays well and you basicaly can do anyfucking thing you want ('cept sleep with students, but hey, even those lines are fading). BUT, (in Belgium at least) , universities get first pick of students to graduate, so you'd better have some damn good grades, cause only people with the best grades will get professor jobs.

Friend of mine teaches @ the Univerity of hasselt, and it's your dream come true: he teaches some sort of computer-implementing in our daily lives (multimedia) , and his last project involved getting all students to play Everquest to study the social and economic effect it had on people who got addicted. (One student reached Level 50 on a Pvp-server, in under 1 year. Thats bad.)

All I'm saying is: if you plan to go R&D, remember that for every R&D guy there are about 50 'normal' IT people.I. If he's payed his normal pay, however, Mr. R&D will earn as least as much as 3 other ITers put together.
If you're good, you're bound to find a good job, if not, you will get some second-rate helpdesk or webdesign-job.

Hope I didn't bore you.