Does Fine-tuning a Classifier Help in Low-budget Scenarios? Not Much

In recent years, the two-step approach for text classification based on pre-training plus finetuning has led to significant improvements in classification performance. In this paper, we study the low-budget scenario, and we ask whether it is justified to allocate the additional resources needed for fine-tuning complex models. To do so, we isolate the gains obtained from pre-training from those obtained from fine-tuning. We find out that, when the gains from pre-training are factored out, the performance attained by using complex transformer models leads to marginal improvements over simpler models. Therefore, in this scenario, utilizing simpler classifiers on top of pre-trained representations proves to be a viable alternative.