A master’s degree is an advanced program after your undergraduate or bachelor’s program. There are many master’s degree programs available, and if you are one of those who would like to go for a continuation of a master’s after your bachelor’s degree or an employee who is looking for an advanced degree, then picking a master’s program from the list of choices is a tough call. The job outlook for many professions is growing exponentially, and having a master’s degree increases your credibility and job prospects.

1. 5 Factors to Consider When Choosing a Master’s Program

Once you have obtained your bachelor’s, you are eligible to take up the master’s program. However, this need not be an immediate step to your academics unless the bachelor program you have chosen needs a mandatory completion of a master’s degree to search or apply for a job. Many individuals take a break after their bachelor’s degree, get some on-field experience, and then enroll in a master’s program. However, if you are still considering taking up a master’s degree, the following pointers might help in your decision-making:

  1. Better pay scale: According to many surveys and analyses conducted for varied job outlooks, one common factor highlighted is that the master’s degree holder earned better than an undergraduate degree holder[1]. 
  2. Better career opportunities: Going after a master’s degree after your bachelor’s or high school diploma is a good idea, as the master’s degree opens many job opportunities. A master’s degree is a stepping stone for your career enhancement.
  3. Future job prospects: The selection of employees is based on their skills and degrees. If you are a master’s degree holder, your future job prospects are brighter, and you have high chances compared to other candidates who do not have a master’s degree. 
  4. Return on investment: From the point of investment in your education, having a master’s degree provides good returns as it has better job prospects and salary opportunities. When you are planning to go on with a master’s program, opting for an online master’s degree program will be a better option than a traditional degree program because the cost of an online program is comparatively lesser. The return on investment, education, and the degree’s value are similar to a traditional on-campus college or university degree.
  5. Time and flexibility: Many online master’s degrees allow students to study at their own pace and manage their time and other obligations better. As for flexibility, you can often tailor your program to target your professional objectives and cater to your personal interests.

While there are so many master’s degree programs available, here are some of the most common master’s degrees:

  1. Master of Arts (MA): A Master of Arts degree encompasses multi-disciplines and subjects in liberal arts and humanities, such as English and journalism. You, as a MA graduate, would have many career opportunities depending on your field of study, such as becoming dance instructors, graphic designers, and writers.
  2. Master of Business Administration (MBA): The Master of Business Administration explores the complexities of finance, human resource, marketing, and business operation and management. These programs provide you with top-management skills to help you achieve leadership roles.
  3. Master of Science (MS): With advancements in science and technology, students with a science background can reap better career benefits with a Master of Science. Field of studies such as cyber security, machine learning, and artificial intelligence are MS degree programs. The technology field is open with varied job options along with lucrative salaries. 
  4. Master of Fine Arts (MFA): If you want to go after your creative passion in subjects like performing arts or creative writing, then pursuing a MFA may be a good idea. A master’s degree allows you to expand on your creative knowledge and find successful careers, such as working in marketing and PR and becoming an animator or a film director.
  5. Master of Education (M.Ed): Education and teaching master’s programs are the most accessible master’s degrees, meaning you can complete these fairly quickly. A few education programs are early childhood education, elementary education, and educational leadership. You could work in roles such as child development instructors, counselors, educational specialists, special education teachers, and museum educators. 

3. Ways to Fund Your Education Once You Have Chosen a Program

Having clarity on the ways to fund your education is always a good idea. Here are some financial aid options, such as federal financial aid, scholarships, grants, to help you fund your master’s degree:

Financial Aid

The Free Application for Federal Student Aid (FAFSA) is one of the critical financial aid sources for students. This aid comes from the federal and state governments and a few universities and colleges. The FAFSA is an application form to determine whether you are eligible for federal financial aid.


Scholarships are an excellent relief for students as they pay tuition fees without any repayment requirement. Scholarships are frequently awarded on merit to students who have excellent academic records or outstanding achievements in sports, music, art, etc.

Grants and Fellowships

Grants and Fellowships are usually need-based instead of merit-based like scholarships. They can be given out to students from economically-weak backgrounds or those actively involved in specific causes and interests determined by the donor.

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Related Content

Here are a few related articles you can read to provide you with deeper insights into a master’s degree:

Bachelor’s vs. Master’s – Learn about the similarities and differences between a bachelor’s degree and a master’s degree.

Master of Arts vs. Master of Science – Are you confused about which type of degree is better – the MA or the MS? Explore the differences and similarities of MA vs. MS and find the right one for you.

How to Double Major – If you are interested in broadening your educational pursuits, learn how to do so and make double majoring relatively easy.

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