A master’s degree is an advanced academic degree that can be earned after a student has received an undergraduate (bachelor’s) degree from a college or university. It’s a focused academic program that provides a student with a deeper expertise of the degree’s subject matter. These degrees require 30 to 60 credits and usually take one to three years to complete. Today, a variety of master’s degrees are offered through both in-person and online instruction within a graduate school or professional school.
Why get a master’s degree?
For some professions — such as physician assistants, school counselors and nurse practitioners — a master’s degree is required to perform that job. For other professions, a master’s degree isn’t required but can offer significant benefits. Here are 10 benefits to earning a master’s degree:
Increase wages: According to the U.S. Bureau of Labor Statistics, median wages in 2023 were about 16% higher for master’s degree holders compared with bachelor’s-only holders, and nearly double the earnings of workers with only a high school diploma.
Enjoy better job security: Unemployment rates are lower for master’s degree holders compared with workers with only a bachelor’s degree and high school-only graduates, according to the Bureau of Labor Statistics.
Expand career opportunities: Advanced degrees can improve an employee’s potential for leadership and management roles.
Change careers: Several master’s programs build upon a bachelor’s education, but some programs can help students completely change career paths, like Marquette University’s Direct Entry Master’s in Nursing, which helps non-nursing bachelor’s degree recipients start a career in nursing.
Discover purpose: Many graduate programs focus on professions and skill sets that the world needs more of to help solve problems or fulfill unmet needs. These programs may speak to a worker’s drive for purposeful employment.
Enhance knowledge and skill sets: Workers can deepen expertise in a specific field and make themselves more professionally desirable.
Improve professional reputation: Additional education can increase an employee’s credibility within their field.
Become a researcher: Depending on the degree, some master’s programs provide opportunities to study alongside professors and other graduate students.
Start your own business: Build the confidence and entrepreneurial spirit to launch your own startup.
Get a life-changing education: Gain critical-thinking and problem-solving skills that can be used every day. Graduate education provides personal growth and intellectual development by challenging a student’s assumptions, expanding their horizons and fostering a lifelong love of learning.
How to choose a master’s program?
When considering graduate education, prospective students should think about their career goals, finances and time constraints. Some programs provide scholarships or grant funds, and some offer flexibility with online learning options.
For certain master’s programs, it’s important to explore the research and faculty expertise of the program. Most of this comparison can be done online, but consider campus visits and face-to-face faculty introductions when exploring best fits.
