This is a topic that A LOT of musicians talk about. I have been involved in both crowds: Academically trained musicians AND musicians who have just put the time in and do it themselves. Both have their ups and downs, and I am here to settle the score for you.
Going to music school is tough. It's incredibly rewarding, but it is incredibly hard, time-consuming, stressful, and hella fun. Here is what you need to know:
This is something most people don't realize until they get into the program. Most music schools teach these incredibly generalized genres of music for two reasons:
IN A NUTSHELL, classical music teaches you about the history and traditions of music coming from western Europe, and jazz teaches you about the music culture to be created out of New Orleans, bringing together aspects of European harmony, African rhythm and groove, and eventually bringing in sophisticated improvisation techniques.
I find this to be the thing that I took away from my formal education. Being exposed to music from the past and having to look at it in depth really helped me to understand HOW music worked. Knowing this, helped me to always listen to music with an open mind.
Going to music school will help you find friends who are interested in the same things you are. I truly believe this is one of the best things about going to school for anything. It also allows you the option to get some incredible opportunities in your field of work, which is always a plus. (Remember, music is not only an art, but for some people, it is a career).
People might have the assumption that going to music school will make you the best musician of all time. THIS IS NOT TRUE. Here is a list of things that music school doesn't give you, but working in the real world does:
Some of my views might be exaggerated here, but in all honesty, this is what it is. To do this type of work you have to be out in the world doing it. Sitting at school doesn’t get you gigs. Period.
The list above could go on forever. What does all this mean? Well... it means that you have to figure out what you want out of your music. Do you REALLY want to know about the history of music? Or would you rather just play the music that speaks to you, and go from there? The choice is truly yours.
I want to point this out (again), to make it really clear. YOU WILL NEED REAL-LIFE EXPERIENCE REGARDLESS. I have talked to people who say that people who go to music school don’t get the "real experience of working in the industry" when this is simply not true. It doesn’t matter if you go to school or not, you will still need to get out there and DO IT.
Get out there, and do what you want to do. You can do it. It may take time, but if you want it, you can do it.