Pursuing an advanced degree isn’t a straightforward path for all students. Some begin a graduate program immediately after completing their bachelor’s degree, while others wait years before deciding to go back to school.
No matter the timing, data suggests that an advanced degree is a worthwhile investment for many professions. According to a Career Builder survey, hiring standards have increased throughout the past five years, while 33% of surveyed employers stated they have raised the education requirements while searching for new hires. Having a graduate degree could be the difference in being selected for a new job.
It can be difficult to pinpoint which is the best choice for your career, but there are several enticing benefits that can make getting another degree worth it.
Earning Potential
The earning potential of an individual holding a master’s degree is consistently higher than the earning potential of an individual without a master’s degree..
The U.S. Bureau of Labor Statistics reported that the median weekly earnings for workers with a master’s degree were $1,661, more than the median for those with a bachelor’s degree, and $808 more than those with no college degree.
According to the National Association of College Education (NACE), starting salaries for individuals with master’s degrees had projected increases across the board in 2023. While degrees like computer science and accounting had the highest demand, the survey demonstrated the economic value in any master’s degree.
Career Advancement
Beyond earning potential, higher education also opens the door to a wide array of opportunities in the job market. Even those who already have a position in their chosen career field may not have the qualifications for a promotion without an advanced degree.
For example, those who work in business may not be required to hold an MBA, but those who do can land management positions and other opportunities.
Specialization
Bachelor’s degrees prepare students for entry-level positions in their field with comprehensive coursework that focuses on a wide variety of topics. Conversely, advanced degrees allow students to focus on one area of study and master it.
Developing expertise puts advanced degree graduates ahead of the competition. In fact, some professions, such as healthcare, require advanced education. Georgia State offers online and on-campus degree programs for health professions, qualifying students for roles they would not be considered for without a specialized degree.
Career Changes
While a master’s degree can complement an undergraduate degree, it can also allow for an individual to transition to a new field. Not all master's degrees require prior experience, giving students the opportunity to completely change career paths.
A Washington Post-Schar School Poll in 2021 reported that a third of US workers under 40 considered a career change during the COVID-19 pandemic. If you are no longer satisfied with your career and are looking for a way to transition, a graduate program could be the answer.
Degree options
While getting a master’s degree is a commitment, Georgia State Online offers many flexible degree options to cater to students who want to earn their degree while working full-time.
If you are considering pursuing a master’s degree, request more information today.