Be it a fresh graduate or a seasoned worker; it might be difficult to decide whether or not one should pursue a master’s degree. It is a time-consuming task that requires a great deal of self-discipline, not to mention the financial commitment. So, naturally, you want to make sure a master’s degree offers good perks. Guess what? It is worth all the hard work and resources. Here are eight practical benefits of getting a master’s degree:
- Higher Salary
If there is one thing that will almost certainly increase your earning potential, getting a master’s degree has to be. People with a master’s degree witness a considerable hike in their wages. For instance, someone with a bachelor’s degree in business will make around $60,695 in 2022. On the other hand, their master’s degree equivalent will earn $71,021 in the same year.
If financial incentives are your primary motive, you are better off opting for one of the following high-paying master’s degrees:
- Nurse midwifery: Nurse-midwives are registered nurses with additional education and training in pregnancy and childbirth. These professionals place a strong emphasis on gynecological and obstetric treatments. RNs can also practice as nurse-midwives, as long as they meet the requirements. This master’s degree has an average starting income of $81,800, making it one of the best-paying on the list.
- Education: Master’s in education paves the way for a fulfilling career. Like most people, if you are wondering what can you do with a masters in education, the answer is “a lot.” For example, among other options, you may become a principal and tap into a secure career path while also earning a hefty $98,940 per year.
- Chemical engineering: Chemical engineers are responsible for designing equipment, testing products, and supervising manufacturing. As a result, they work in a wide range of industries. A Master’s degree enables them to grow professionally and boosts their earning potential big time. With a master’s degree in chemical engineering, you can expect to make an average salary of $86,000 annually.
- Mathematics: A master’s degree in mathematics can help you land a career in academia or the government, where you will develop policy proposals based on research and statistics. A master’s degree in mathematics will ensure you get a median annual pay of $110900.
- Preparing For PhD
There is no denying that individuals with only a bachelor’s degree are eligible to apply for some doctorate programs. That being said, candidates with a master’s degree have a competitive edge. The majority of master’s degree programs involve extensive research.
Before completing a thesis or capstone, students execute their research skills in short projects throughout the academic years. As a doctorate student, having advanced research and analytical skills by your side will come in handy, especially while writing your dissertation.
- Networking Opportunities
A university is where intelligent, forward-thinking people from all walks of life come together to learn and grow. By pursuing a master’s degree, you open yourself to a broader range of cultural, social, and intellectual experiences. Among other things, you also gain access to the institution’s alumni database. For those looking to enter the professional world, this could prove to be an excellent resource for building a strong network of contacts. Over time, it may be extremely helpful in helping you obtain and keep a job.
Building your professional and personal network is a key component of learning and working. So taking advantage of opportunities to get to know new people and give old connections a jolt will prove to be fun and quite beneficial.
- Keeps You Updated
It is not uncommon for college graduates to enroll in professional development or continuing education courses to expand their knowledge base. However, students pursuing a master’s degree will be well-versed in the most up-to-date techniques in their respective fields. Additionally, a master’s degree assists working professionals in certain disciplines stay on top of the licensure renewal requirements.
- Bolstering Job Prospects
Many professionals believe that having a bachelor’s degree in the modern era is the same as having a high school diploma 20 years ago. That is why most employers opt for candidates who have a higher degree. By obtaining a master’s degree, you can quench your intellectual cravings and spice up your CV big time. You will grasp and polish a host of skills, such as project management, communication, critical thinking, research, data analysis, and problem-solving. In addition, they will enable you to cut through the noise in an extremely competitive market.
Candidates with a bachelor’s degree outnumber those with a master’s. So if you successfully make it to the list of master’s degree holders, an employer will see it as a touchstone of your commitment to personal and professional growth.
- Flexible Structure
The flexible structure of a master’s degree is arguably one of its best features. It implies that one can study part-time or through remote learning, making a master’s degree an ideal choice for individuals with other personal and professional obligations.
- Easier To Switch Career
According to labor experts, the average adult makes between three and seven career changes during their working life. Keeping this in mind, we can safely conclude that switching careers is more of a question of when than if for most people. When you decide to change your career, your master’s degree will prove that you are a serious applicant with a high level of professionalism. A master’s degree might even make up for the lack of experience in certain jobs.
Completing a bachelor’s degree program is a significant achievement that one should celebrate by all means. In the eyes of many, it marks the beginning of adulthood – the time when you are all set to take on the job market. However, you need to realize that completing a bachelor’s is like scratching the surface of your education. If you want stability, financial incentives, an abundance of career advancement opportunities, and other perks, you need to pursue a well-reputed master’s degree program.