Reviewed By OMC Staff
A fairly common question that many students and professionals ask is, “Is a master’s degree worth it?” apart from similar questions such as:
- Why do a master’s program?
- Is a master’s degree good?
- Should I get a master’s degree?
- Are master’s degrees worth it?
There are many reasons people decide to pursue a master’s degree. Some people do it to further their careers, while others do it to change careers. And then some do it to gain specialized knowledge in a particular field, while others do it for personal enrichment.
Learners frequently enquire about the advantages of earning a master’s degree. While a master’s degree is expensive in time and money, the benefits typically outweigh the expenditure. The following are some of the reasons why you should consider doing a master’s degree program:
Better Pay
The foremost reason to do a master’s degree is that it almost always leads to potentially higher pay. The U.S. Bureau of Labor Statistics (BLS) reports that the median weekly earnings for a master’s degree holder are $1,545, compared to $1,305 for a bachelor’s degree holder, an increase of $12,480 in income[1].
Chance to Gain Specialized Knowledge
A master’s degree provides ample opportunity to further one’s knowledge, skill, and expertise in their chosen field. It is a good option for anyone who wants to study more or learn something new that complements what they learned in their bachelor’s degree.
Better Job Prospects
A master’s degree is generally required for many occupations, including in high-paying sectors such as business and engineering. Candidates with a master’s degree also have the edge over bachelor’s degree holders when applying for jobs, allowing them to be preferred and increasing their chances of getting better jobs.
Possibility to Change Careers
It is common for individuals with a bachelor’s degree in one area to pursue a master’s degree in an entirely different one. In doing so, they gain new abilities and skills and broaden their scope of employment, enabling them to switch careers or take up niche jobs.
Ultimately, why you decide to pursue a master’s degree is up to you and depends on your interests and career objectives. You will need to weigh the costs and benefits of pursuing a master’s degree to decide if it is the right choice for you or not.
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Southern New Hampshire University
PROGRAM: Online Masters Degrees
Southern New Hampshire University is a private, nonprofit, accredited institution with more than 3,000 on-campus students and over 60,000 online students, making us one of the fastest-growing universities in the country. Founded in 1932, we’ve been relentlessly reinventing higher education ever since and have gained national recognition for our dedication to helping students transform their lives and the lives of those around them.
We’re proud to provide affordable, accessible education that students can pursue on our 300-acre campus in Manchester, NH, over our innovative online platform or at our regional centers in Manchester, Nashua, Portsmouth and Salem, NH, and Brunswick, ME.
SNHU has earned the GetEducated.com Best Buy and Best of Business – Best Online Degree awards and is consistently ranked as a top Military Friendly® School by G.I Jobs®.
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