It’s a new year. Time for a new you? Maybe you’ve been thinking about getting a master’s degree since you graduated with your bachelor’s degree. Whether that was last month, last year or ten years ago, it might be time to revisit that nagging question. Why should I get a master’s degree? Do I want the potential to earn more money? A job promotion? Or learn an entirely different skill? To help you evaluate if a higher degree is right for you, below are ten reasons to consider when deciding whether to pursue your master’s degree.
#1-Potentially Earn More
Salary isn’t just about education. It’s determined by various factors, such as the field you work in, geographic location and past work experience. The U.S. Bureau of Labor Statistics1 show workers with master’s degrees, in some fields, can expect to earn more than those without a master’s degree.
#2-Find a Job
There’s a lot involved in the hiring decisions of potential candidates, but a master’s degree can be a differentiator. According to The U.S. Bureau of Labor Statistics2, the unemployment rate for those who hold a master’s degree is 2.4 percent, compared to a 3.8 percent unemployment rate for those only holding an associate’s degree.
#3-Find the Job You Want
Maybe you’re already employed, but would rather have a job in a different company or an entirely different field of expertise. Some engineering positions, financial advisors, public affairs, education and many healthcare-related occupations may require master’s degrees.
#4-Gain a Deeper Understanding
A master’s degree helps teach you to solve real-world problems and to think critically. You may have learned valuable skills on the job, and know your company, but a master’s degree provides an educational foundation in the principles of your field. Master’s degrees instill a deeper understanding of the subject matter, and employers may value the skills master’s degree holders have attained.
#5-Learn New Skills
Maybe you’re happy in your job, like your current compensation and don’t want to leave your current company. So why get a master’s degree? One word: Knowledge. It’s been shown that lifelong learning can help fend off aging diseases such as Alzheimer’s and Dementia. At NCU, there are a variety of different master degree programs* to choose from in business, education, psychology and marriage and family therapy.
For highly motivated students, there are accelerated programs options available for obtaining a master’s degree in one year. At NCU, students looking for intensive, 12-month programs can find them in the Master of Business Administration, Master of Science in Organizational Leadership and Master of Education programs. In addition, NCU’s FastForward options allow you to advance in one seamless path from your associate degree through your bachelor’s and master’s degrees – months faster and with lower tuition expense!
#7-Stand Out from the Rest
According to the U.S. Bureau and Labor Statistics3, nearly one quarter of Americans hold a bachelor’s degree. How does a potential job applicant stand out from the rest? A master’s degree certainly can’t hurt. Less than 10 percent of Americans have one.
#8- Get a Potential Raise
You have the job, and now you want a raise. Consider earning your master’s degree. According to “The Economic Value of College Majors,” a 2015 study by Georgetown University, college graduates with a bachelor’s degree earn an average annual salary of $61,000 over the course of their career, while those with a graduate degree earn an average annual salary of $78,000.
#9- You Want to Teach
Maybe you’re a teacher now, have always wanted to teach, or have thought about teaching as a second career. Teachers at the postsecondary level are usually required to have at least a master’s degree (a PhD may even be required in some instances).
It may seem trivial, but having a master’s degree may earn you greater respect from colleagues and associates. Earning a higher degree can demonstrate a commitment to higher learning and a desire to be your best.
*For more information about our graduation rates, the median debt of students who completed programs, and other important information, please visit www.ncu.edu/program-disclosures.