Is Masters Degree Worth It?
A Master’s Degree is not a right but it’s more of a privilege reserved only for the intellectual high achievers. It is something beyond just a paper. It allows you to work, gain practical knowledge and gain exposure that you can never get in any other education program, including a Bachelor’s Degree. But, before you go and register for your MS (Master’s Degree) program before you spend thousands and even tens of thousands of dollars, think about these 7 sections as listed below.
Table of Content
Section 1: Is The Master’s Degree Worth It?
Section 2: Understand the difference between a Master’s and a Ph.D. program
Section 3: How long will it take to get your Master’s degree?
Section 4: How much does a Master’s degree cost?
Section 5: The short and long term benefits of earning your Master’s degree
Section 6: Do you need a master’s degree to move up the career ladder?
Section 7: Consider your career field
Conclusion
Are You Ready, Let’s Go
Section 1: Is The Master’s Degree Worth It?
If you’re considering a Master’s but wondering if it will pay off, the answer is yes.
Getting a graduate degree has become a necessity for many jobs and careers.
The Bureau of Labor Statistics (BLS) predicts that the employment of postsecondary teachers will grow by 21 percent between 2010 and 2020, which is much faster than average.
In addition, the BLS expects employment of postsecondary administrators to grow by 33 percent between 2010 and 2020, and even higher growth rate.
The U.S. Department of Education reports that most jobs require at least a master’s degree. Knowing this, it makes sense to pursue a graduate degree in your chosen field.
Though the BLS predicts that the employment of postsecondary teachers will increase by 21 percent between 2010 and 2020, the job market varies by region and state.
The most obvious benefit of a master’s degree is that it opens up opportunities for career advancement.
Some jobs will require a master’s degree for promotion.
Education in a master’s program also helps you develop better research and analytical skills as well as leadership and management abilities.
In addition, the master’s degree programs offer advanced coursework in specialized fields within your major such as financial accounting, business ethics, or healthcare policy.
Some people think that their job prospects won’t be improved by getting a master’s degree because they already have a bachelor’s degree.
However, studies show that there are many advantages to getting a graduate degree even if you already have your undergraduate diploma.
The most prominent advantage can be seen in the median income between those who only have an undergraduate degree and those who hold both an undergraduate and graduate.
Section 2: Understand The Difference Between A Master’s And A Ph.D. Program
Just because you have a Master’s degree doesn’t mean you’re guaranteed a job in your chosen field.
Does this mean that your investment in the degree was wasted? Not!
A Ph.D. program is designed to train students to conduct independent research, while a Master’s program is designed to provide a more practical education.
Most employers are looking for candidates who can make use of the knowledge they have acquired and apply it to solve problems on the job.
Below, you’ll appreciate the differences between the two levels of study and how you can use them to your advantage when you are searching for your first professional position.
Master’s Degree vs. Ph.D. Program: What Are The Differences?
Although both degrees require you to do original research and prepare dissertations, there are some major differences between the two programs that set them apart from each other.
The first major differences are
Coursework
In general, Master’s programs tend to include less coursework than Ph.D. programs.
Instead of taking courses that cover broad concepts, students will be allowed to focus on one subject area during their time in school.
They won’t be introduced to new subjects until they enter their dissertation phase at the end of the program.
Description
Both master’s and Ph.D. programs are designed for people who want to expand their knowledge beyond what they learned in their undergraduate degrees.
A master’s degree is generally 2 years in duration (36 credit hours) while a Ph.D. is generally 4 years in duration (72 credit hours).
Admission Requirements
Master’s Degree Programs
You will need to have an undergraduate degree from an accredited institution to be accepted into a master’s degree program.
In addition to your bachelor’s degree, you will need to take the Graduate Record Examination (GRE), submit letters of recommendation, and complete an application for admission.
Ph.D. Programs
You will need to have an undergraduate degree from an accredited institution to be accepted into a Ph.D. program.
In addition to your bachelor’s degree, you will need to take the Graduate Record Examination (GRE), submit letters of recommendation, and complete an application for admission.
Section 3: How Long Will It Take To Get Your Master’s Degree?
A master’s degree is a graduate-level academic program that is typically earned after a bachelor’s degree.
The master’s degree, which can be in a variety of fields, represents the first half of a doctorate program.
Many students obtain both degrees, but it is not required.
The length of time it takes to complete a master’s program varies, depending on the field of study and the institution.
The typical length is two years, but some programs take longer.
Students may earn the degree with or without completing a thesis or dissertation.
Some master’s programs are designed for people who want to enter a particular career; others are more academically focused, preparing students for further study in their field or future doctoral programs.
Section 4: How Much Does A Master’s Degree Cost?
A Master’s degree is the first level of graduate education.
It builds on undergraduate work and is the first step towards a Ph.D.
A Master’s degree costs about $20,000 for a full-time student to complete, with one year spent in school full time and at least another year spent part-time.
A Ph.D. is considered the highest academic level, and it can take as many as seven years to complete, depending on the program.
Typically, Ph.D. students are required to have both a Bachelor’s and Master’s degree before they can enter a Ph.D. program.
Master’s degrees vary greatly in their focus, but all have a thesis or dissertation requirement that demonstrates in-depth research on the part of the student.
While some programs allow students to choose their thesis topic and decide what they would like to study, others require them to work within a certain framework that may be dictated by an adviser or committee.
Students often work closely with their advisers during these programs and meet with them regularly for discussion and feedback.
Some programs also offer a comprehensive examination as an alternative to writing a thesis.
Section 5: The Short and Long Term Benefits of Earning Your Master’s Degree
A Master’s degree is a post-undergraduate academic program that can be completed in 2 years or 4 years for a Ph.D. degree.
This degree is an intermediate step for students who wish to eventually pursue a doctorate-level degree.
The Benefits of Earning Your Master’s Degree Are Many Comprising:
1. A Master’s degree in your chosen field of study can provide you with the knowledge, skills, and experience needed to obtain entry-level employment in your career field.
2. Earning a Master’s degree can make you more marketable than if you had only earned a bachelor’s degree.
Many companies are seeking individuals who have completed graduate studies because they are well prepared for the challenges of their respective fields.
3. Earning a Master’s degree can boost your income potential.
The median salary for individuals who hold a Master’s degree is $30,000 higher than those with only a Bachelor’s degree.
4. Earning your Master’s degree may help you remain competitive in your chosen field as it provides you with the most up-to-date information and knowledge on issues that relate to your field.
Section 6: Do You Need A Master’s Degree To Move Up The Career Ladder?
The idea that you need a master’s degree to get ahead has been drilled into our collective psyches.
You see it in movies, hear it at cocktail parties, parents and grandparents have been telling you for years that you have to have advanced degrees to be taken seriously in the workforce.
Without doubts, a master’s degree can be a great investment of time and money.
But it may not always be the best choice for everyone who wants to advance in their career.
Here Are 2 Solid Questions To Ask Yourself Before You Start Down The Path Of Higher Education
#1 How much do I want this?If you want to move up the career ladder, landing a job with a higher salary or more responsibility, then a graduate degree is likely worth your while.
However, if you’re looking for a bigger corner office with a snazzier title, then you might want to rethink things.
While there is no hard rule on whether or not having an advanced degree makes someone more likely to get promoted; only about 5% of people with master’s degrees are in management roles within five years of getting them, according to research by Georgetown University’s Center on Education and the Workforce.
#2 Do my options include other things I can do without an advanced degree?
Even if you know that you want a master’s degree, it doesn’t necessarily mean you need one. If your options include working your way up in your current company or finding employment at another company where you will need one, then going back to school is a worthy ideal.
Section 7: Consider your career field
There have been many changes in the job market over the last decade.
The job market is very different from what it was 10 years ago.
Many people are struggling to find a new job, while others are struggling to get back into the workforce because of the lack of jobs in their field.
Trying to figure out how to enter your chosen field can be a little confusing.
You probably want to know what skills you need and how to go about getting a good job in your chosen career field.
A common question that people who are looking for jobs ask is “What kind of degree do I need?”
First, consider the requirements of your chosen career.
There may be two or three degrees that would work well for you, but one of them might be better than the other two.
Doing some research online can give you a great idea about what sort of certifications and degrees you’ll need to work in certain fields.
You’ll also want to think about how many years it will take you to complete your degree, and whether or not it’s something that will align with your long-term goals.
Making sure that you have a degree that helps you reach your long-term career goals should be a top priority when choosing your degree program.
Last Remarks
A Master’s degree is a great way to start improving yourself and the decisions you make. However, if you want to find a job better than your current one and earn more money along with it, then a master’s degree would be probably worth the pursuit.
If you’re trying to decide whether or not to pursue a Master’s degree, ask yourself why you are studying. Education will only take you as far as your aspirations allow. Find a program that will help you achieve your goals and maximize your chances of success. Consider the program options that will be available to you after graduating, how much money it will cost, and whether it would be worth sacrificing the next several years of your life for an advanced degree. You’ll want to think carefully about all of your options before coming to the conclusion that you want or need a Master’s degree. As you attempt to sign out, if you found this post informative and quite helpful, please kindly drop a word of appreciation at the comment section below. If you take some seconds to kindly share this post with your contacts on social media, we would much appreciate it.
