When is a Master’s Degree worth it?

Although it may feel like obtaining your bachelor’s degree put you ahead of the game, there are many times when this isn’t the case. Whether you are interviewing for a new job or are looking for a promotion, in today’s competitive job market, there are situations in which an undergraduate degree isn’t quite enough. With the cost of education continuing to increase, however, it may not seem like a good idea for you to go back to school. Below are some reasons why you should consider pursuing a master’s degree.

Did you know?: The average high school grad 25 years and older can expect to earn just $29,766 a year?

Reason 1: Personal Growth

Education is a fascinating thing as you can never get enough of it. Learning is a lifelong adventure and you are never too old to know too much. By obtaining a master’s degree, you are investing in yourself and are continuing to grow as an individual. You are also challenging yourself and reaching personal goals you might have always had.

Reason 2: Career Opportunities

For many careers and disciplines, a master’s degree is replacing the bachelor’s degree for the minimum necessary to qualify. This is especially true in fields such as education, public affairs, and business. Whether you are applying for jobs or trying to move up to administrative and management roles in your current area, many people won’t even consider you unless you hold a master’s degree. While having this degree won’t guarantee you that new position, it will certainly open more doors for you and give you more career opportunities.

Reason 3: Financial Gains

Even though money isn’t everything, there is nothing wrong with admitting that getting paid more is a great perk! Based on data from the United States Census Bureau, workers in the U.S. with a bachelor’s degree earn on average $42,877 a year. Compare that with workers who have a master’s degree, and their average yearly salary is $55,242. This number can increase depending on your specific degree as well as if you serve in a leadership position, making an even greater return on your investment.

Did you know?: According to the U.S.Census Bureau of Labor Statistics,in 2016, individuals holding a master’s degree that were 25 years of age or above, with a full-time wage and/or a salaried worker, the unemployment rate was averaging around 2.4%. Comparatively, the unemployment rate for those who completed their high school diploma were averaging around 5.2%.

Reason 4: Recognition

Obtaining an advanced degree is no easy feat, and by getting your master’s degree, you are showing that you are a dedicated and hardworking individual. These qualities are desirable in an employee, and will help you stand out among the crowd. Challenging yourself and going to grad school says a lot about who you are as a person, and shows that you are willing to go the extra mile.

 

Choosing to continue school and pursue your master’s degree is not a decision that is to be taken lightly. Although it can seem like an unnecessary conquest, there are many reasons why obtaining your master’s degree will benefit you as a person as well as a worker. Taking the time to invest in yourself will not only benefit you in your career and in your finances, it will benefit you as a person, as well.

Master’s Degrees with highest paying potential:

  • Nurse Anesthesia
  • Computer Science
  • Engineering
  • Finance
Was this information helpful?