For some people, entering a master’s program is a no-brainer. Physician assistants, physical therapists, librarians, and several other career paths require a master’s degree to get a job. However, for many who have completed their bachelor’s degree, getting a master’s degree is a harder decision. How do you know what’s best for you?
Whether you completed your bachelor’s degree 10 years ago or 10 months ago, there’s one question that never goes away: “Is a master’s degree really worth it?”
There’s no “one-size-fits-all” decision for getting a master’s degree – but we definitely think the pros outweigh the cons. Here are just three reasons why:
1. You increase your earning potential.
While getting your master’s degree is an investment of time and money, research shows that it pays off. For example, a 2020 study found that people with master’s degree earned an average of $240 more per week than those with bachelor’s degrees. Additionally, master’s degrees in business, science, and technology fields can result in 70% higher earnings over the course of a career.
Ultimately, pursuing more education can produce better financial outcomes in your future – so if you want to invest in your long-term success (and feel more secure about your retirement), a master’s degree is the perfect solution!
2. You broaden your job opportunities.
When you’re ready to take the next step in your career, you might find that you need a master’s degree to move forward. In recent years, almost 40% of employers have raised their educational requirements. Additionally, the Bureau of Labor Statistics reports that the number of occupations that require a master’s degree for entry will grow by almost 17% through 2026.
Earning a master’s degree can give you an advantage over your competition, and it can qualify you for higher-level positions in management and leadership. Employers want to see that you have both the credentials and the experience required for a position, so look for a master’s degree that combines course learning with practical experience.
3. You can get your degree affordably.
One of the biggest barriers to getting a master’s degree is the cost. After you complete a bachelor’s degree, you’re probably hesitant to spend more money on your education. However, it is possible to get your master’s degree affordably – and our programs at IWU prove it. We offer various types of grants and scholarships that minimize your expenses and enable you to get a high-quality degree for minimal cost.