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When plotting a career trajectory, educational choices can play a major role. The��type of degree,��the subjects studied, and the level of study will define that trajectory in a major way. For some, a high school degree is enough. For others, a bachelor’s degree is perfect for their career goals.��

Beyond a bachelor's degree: Is a master's degree worth it?

Yet for others,��asking “is a master’s degree worth it?” and pursuing a graduate degree is the right choice for their aspirations. In fact, a master’s degree may be a requirement for some specialized career fields or leadership roles. By pursuing a master’s degree program, students can hone skills beyond those of an undergraduate degree program.

That being said, a master’s degree isn’t for everyone. Understanding how a graduate degree can prepare students to pursue career outcomes can help decide whether it’s the right choice.

What are the benefits of a master's degree?

If someone is thinking of going back to school to take the next step in their educational journey, it’s normal to wonder if getting a master's degree is the right move. The answer, of course, depends on someone’s situation and goals. There are numerous reasons why pursuing a master’s program may be a wise move.

Not only does a graduate-level degree set job candidates apart from a growing workforce armed with bachelor's degrees, but it also suggests that those candidates have the sort of skills employers need to see for advanced positions.��

While hard skills are obviously required for job positions, obtaining a master's degree shows that someone understands time management, self-discipline, and intellectual curiosity.

While a master’s degree and a bachelor’s degree both take a lot of work to achieve, they differ in important ways. Achieving a bachelor’s degree can help potential master’s students know what they’re getting into when earning a graduate degree.

Coursework

Compared to an undergraduate degree, a master’s degree has a much sharper focus. Instead of broadly introducing students to an academic subject, a master’s degree program has students learn more-specific skills that have practical applications in specific industries.

Time and cost

�Ѳ����ٱ��’s degree programs tend to take less time to complete than a bachelor’s degree program — about two to three years versus the four years generally associated with a bachelor’s degree.

That shorter time, however, does not make a program easier. That condensed time frame typically is packed with a rigorous workload that takes dedication to complete.

When is a master's degree worth it?

There are several situations in which completing a master’s degree program can be helpful. The top three are changing industries in a career, pursuing new job opportunities, and for personal achievement.

Changing career industries

Whether because of personal taste or economic headwinds, taking a new career direction might be the right choice. A master’s degree can help with that.

For someone with an undergraduate degree in one field, a master’s degree in a different field can help expand their skill set. In turn, this combination of skills may help them expand their options if they choose to change fields or industries.

New job opportunities

While it’s certainly not true across the board, some jobs require a master’s degree as a prerequisite. This is especially true when it comes to leadership roles within organizations.

An advanced degree from an accredited college or university can make a resume stand out and improve the odds of landing a job interview, providing someone with the leverage needed to negotiate employment terms such as salary and benefits.

Attending and completing a graduate program instills a greater sense of confidence, mastery, and understanding in a chosen field. This experience lends itself to someone entering the job market.

This isn’t just about creating more hoops to jump through. When it comes to the day-to-day responsibilities of administering broad efforts, the skills learned in a bachelor’s degree program may not be enough.

Personal achievement

For some, pursuing a master’s degree isn’t entirely about a career change or a job opportunity. Many students have a passionate interest in a particular subject. To satisfy their curiosity, some students pursue studies beyond the bachelor’s degree level.

Completing a master’s degree is a substantial achievement in its own right. For these students, that’s as good a reason as any to earn one.

How does a master's degree impact career outcomes?

In a general sense, pursuing a higher level of education has its benefits. The U.S. Bureau of Labor Statistics (BLS) reports that possessing a graduate degree trends in favor of higher earning potential and employment outcomes as well as lower unemployment. Let’s dig deeper into how a master’s degree can impact career outcomes.

One of the main benefits of completing an advanced degree is the potential to earn a higher salary. Possessing a graduate degree can often lead to greater earnings throughout someone’s career.

According to a 2023 BLS report, degree holders with master's degrees or higher earn more after receiving the next highest degree level. Graduates with a master’s degree had median weekly earnings of for bachelor’s degree graduates.

BLS notes, however, that these numbers do not take into account apprenticeships, training programs or other training. Median weekly earnings by degree level:

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Salary ranges are not specific to students or graduates of ������Ƶ. Actual outcomes vary based on multiple factors, including prior work experience, geographic location and other factors specific to the individual. ������Ƶ does not guarantee employment, salary level or career advancement. BLS data is geographically based. Information for a specific state/city can be researched on the BLS website.

Lower employment rate

A 2023 BLS����showed that the unemployment rate decreased by each level of education a person earns.

Those with a master’s degree had an unemployment rate of 2% compared to 2.2% for a bachelor’s holder and 2.7% for those with an associate degree. Those without academic degrees experienced the highest unemployment in the nation.��Of course, these are broad trends, and a specific career path may or may not accord with them. Researching the prerequisites for a desired role is the best way to find out whether a master’s degree is right.

Easier switching careers

Improved job security

More educational options

Ability to��contribute research to a specific field

Is a master's degree always necessary?

Is a master’s degree worth it in all cases? As noted, researching a desired career path is the best way to know whether a master’s degree is the right choice. For some occupations, the answer may be no.

Those looking for entry-level work within a field may find options that don’t require a bachelor’s degree, let alone a master’s degree. It’s certainly not a thorough picture, but of the 13 occupations listed by BLS under “,” only four list a master’s degree as an entry-level requirement.

Some occupations require advanced education or specialties only found in a graduate degree, and other roles with a managerial or leadership focus may also require a master’s degree. For example, postsecondary teachers often need a master’s degree as do counselors and social workers. Nurse practitioners and physician assistants do as well. While an undergraduate degree can be an entry point for careers in business and technology, some employers may prefer managers and supervisors to have a master’s.

It’s important to note that a master’s degree alone is often not the only requirement for employment in leadership or management roles. Years of experience and a strong network can play an equally important role.

How long does it take to earn a master's degree?

Credits required for a master’s degree

Part-time vs. full-time enrollment

Accelerated programs

Admissions requirements for a master's degree

So, is a master's degree worth it?

Those who have a specific goal in mind for their career, and for whom research has revealed the importance of a master’s degree toward that goal, then it might be the right choice.

On the other hand, those who don’t know why they would want to earn a master’s degree, may decide it’s perhaps time to take a step back and do more research. Some questions to ask:

• Where do I see myself in 5, 10, 20 years?
• Do I want to lead others?
• What industry do I want to work in?
• Does my existing education suit me for the kind of work I want to do?

These questions can help you decide on your unique ideal path and where, or if, a master’s degree fits into it. Depending on your answers, you may even want to consider��a bachelor’s degree, an��associate degree��or a certificate��as the next step.