In a competitive job market, companies may be more likely to select a candidate with an advanced degree over someone with similar experience and a lower-level degree. Master's degrees help you gain specialized knowledge that can help you excel in your career. Earning a master's degree can also show employers you have the dedication and work ethic to be successful in a role.
What is a master's degree?
A master's degree is a postgraduate degree that shows a person's advanced knowledge of a specific subject. The degree program typically requires 30-60 credits in courses related to a major. To enroll in a master's program, a candidate must have an undergraduate degree preferably in a subject related to the postgraduate program. Graduates can enter the workforce with enhanced knowledge and skills or pursue a higher degree, such as a doctorate, to further specialize in their field.
Students can earn master's degrees in different fields, such as business, language, history, science and health. Universities may offer various graduate programs, and their coursework can vary. It helps to research master's programs to determine which one is right for you before applying.
A master's program typically takes one to three years to complete, depending on the focus and university. Undergraduate degree programs usually take at least four years complete. Completing a doctoral program can take up to eight years.
Admission requirements
Candidates typically need a bachelor's degree before applying to a master's program. Some colleges require applicants to provide official transcripts, write an essay, attend an interview with the admissions board and complete the GRE or GMAT exam. Most universities also request letters of recommendation from past professors or employers to determine a candidate's character and dedication.
Graduate courses are usually more extensive than undergraduate studies. Since class sizes are typically smaller, students may interact more with professors. Instead of lengthy lectures, courses may involve discussions in which all students participate.
Graduation requirements
Depending on the program, students may submit a thesis or pass a cumulative exam to earn a master's degree. A thesis is an academic paper or essay describing a student's findings after extensive research or analyzing a specific topic or theme. Exams typically include answering multiple-choice and open-ended questions.
10 benefits of earning a master's degree
There are many long-lasting benefits to earning a master's degree, including:
1. Higher salary
Earning a master's degree may increase your earning potential. Depending on the industry, those earning master's degrees could receive higher salaries than someone with a bachelor's or associate's degree in a similar subject. You can ask your current employer or perform research as to whether this applies to your field.
2. Advancement opportunities
Earning a master's degree can better qualify you for management and leadership positions. Many employers seeking to fill senior positions prefer to hire those with advanced degrees. For example, social workers, occupational therapists and nurse practitioners require master's degrees to gain employment.
3. Competitive advantage
Getting a master's degree can help distinguish you from other candidates during the hiring process. If you have a master's degree, you may be more likely to receive a job offer than other candidates with bachelor's or associate's degrees. A master's degree can help show employers you have the dedication, interest and work ethic to excel in the role.
4. Networking opportunities
Studying in a master's program means more opportunities to network with other professionals in your industry. What's more, internships can align you with professionals who are already experts in your field of study and may result in a job offer after graduation. At the very least, you will grow your professional network as you build your career and expertise in your field.
5. Higher education preparation
If you plan to earn a higher-level degree, such as a Ph.D., M.D. or J.D., graduating from a master's program in a related field can help you prepare. While most professional programs don't require a master's degree, earning one can show your dedication to the field. It also allows you to construct a more thorough application that can impress admission committees.
6. Flexibility
Another benefit of master's degree programs is that they often offer great flexibility. For example, some master's programs are entirely online, allowing students to participate in the program and keep up with their current responsibilities. This can make earning a master's degree while continuing to work easier and more accessible to individuals.
7. Improved personal development
Master's degree programs can also help individuals work on their personal development in addition to their knowledge and skill set. Many postgraduate programs require students to complete their work autonomously and without the supervision of professors, requiring them to prioritize their work and submit it according to deadlines. This can help you develop your self- motivation, independence and prioritization skills.
8. The ability to change careers
If you're interested in making a career change, a master's degree can assist in this step. Many master's programs accept students with backgrounds that may differ from the degree major, which allows individuals to choose a new field to gain knowledge and skills. For example, suppose you hold a bachelor's degree in science but want to pursue a career as a business professional, you could enroll in a Master of Business Administration (MBA) to prepare for that field.
9. Enhanced credibility in a field
Earning a master's degree can help enhance your credibility in a particular field, which can benefit you when searching for jobs and working in your profession. Those with a master's degree often possess specialized knowledge that those without a degree may not know. As a result, a master's degree program can help make you an industry expert, resulting in increased credibility and respect in your area.
10. Access to university and industry resources
Many universities and institutions that offer graduate programs also give students access to various professional and scholarly resources. For example, the university may hold regular professional development workshops or networking events. Participating in and using these resources can help expand your career and give you access to opportunities you may not have access to otherwise.