My dad got me a lifetime membership as a grad present long ago. Its nice to have. 10% off in the bookstore is primarily what I've used it for, but there are other perks. Its only $300 for a lifetime membership right now with promo code GIFT. Ask mom and dad! Hah...
The networking events and discounts on continuing education are good too.

https://alumni.ucdavis.edu/membership/alumni-and-friends

Also, congrats on your graduation!

I don't think I really get much in return financially, but that isn't why I joined. I think when I joined it was $700 for a lifetime membership, and there was a 50% off deal. Effectively, I bought a $350 licence plate cover, but enjoy the emails and staying connected with the school.

^^ What they said. I also got a lifetime membership, so the price/yr really isn't that much. Pretty much have used it for ticket and merch discounts.

Have I made my money back in discounts and perks? No, probably not. It was maybe more of a pride purchase for me when they offered half off a lifetime membership. I live on the east coast, but the events might be more relevant if you live in CA. Some of the local chapters have regional events.

One thing to be aware of, you are likely to start getting fundraising calls every couple of months. Personal as to if you are in a position to donate. If you are, consider if there is a particular cause you have passion about.