Most bachelor’s students at the end of their degree find themselves wondering, “if a master’s degree is worth it? Well on the go we will tell you many advantages that come with a master’s degree. It can lead to better job opportunities, higher salaries, and higher-level subject knowledge.
Whether a master’s degree is worth it depends entirely on your personal, professional and educational goals and also on your resources. In this article, we will list down the reasons why a master’s degree should be part of your future and how to determine if it will be the right decision for you.
Should I get a Master’s Degree? Is the Cost of a Master’s Degree Worth It?
Several benefits usually come with a master’s degree, though it ultimately depends on your situation and the potential industry. The cost of a master’s degree can be around $30,000 to $120,000. But if you keep thinking about it as a cost you will never be able to go through with it. Think of that as an investment. below you will find out why I called it an investment.
Will A Master’s Help Me Get A Better Salary And Job Stability?
If we look at the situation locally, we can say that having a master’s degree will definitely give you better opportunities, a master’s degree is considered the benchmark qualification by many recruiters and businesses, particularly in the public sector.. When it comes to the average salary I would say it ranges from Rs20,000 to Rs 60,000 for bachelor’s degree holders and Rs40,000 to Rs120,000 for master’s degree holders.
Another thing that one should consider is the unemployment rate. There are a total of 8.78 million people in Pakistan who are 20 or above and hold at least a bachelor’s degree. Out of which 5.97 million people are economically active while 0.97m are unemployed. (Labor Force Survey 2017-18)
Most of these people are:
- Bachelor’s degree holder in Social Science: 0.57m
- Master’s degree holders: 0.29m
- MPhil/PhD degree: 15,860
And internationally, according to the Bureau of Labor Statistics, master’s degree holders earn around $240 more per week than bachelor’s degree holders. The average weekly salary of a Master’s degree holder is around $1545, which is higher than both bachelor’s degree holders ($1305) and associate degree holders ($938). And depending on your industry, you can earn significantly more with a master’s degree. For example, if you are a graduate of MBA (Master of Business Administration) you will earn an average salary of $115,000 which is approximately 77% more than those with a bachelor’s degree. According to the US Bureau of Labor Statistics (BLS), The jobs that pay over $94,000, half of them usually require a master’s or doctorate.
Although most bachelor’s degrees allow students to pursue their interests, a master’s degree takes it to the next level. While pursuing a master’s degree in Pakistan or elsewhere, you will be expected to gain a greater grasp of a field through research and extensive studies. So, if you are someone that loves the field you are studying in and want more exposure to that said field then you should really go for it.
Aside from studies, activities such as conferences, seminars, specialized speakers, and concentrated supervision guarantee that the subject you are studying is explored from a variety of perspectives. Recruiters recognize the graduate degree’s expertise and are more likely to work with specialists rather than generalists for longer periods.
Top Master’s Degree Students Can Study Abroad
- Masters in Management & Leadership
- Masters in Computer Sciences
- Masters in Business Administration
- Masters in Economics
- Masters in Engineering & Technology
Is a Master’s Degree Worth It in Term of Time?
A Master’s degree typically takes around two years, hence it can be time-consuming and emotionally draining. Therefore you need to weigh up your reasons for studying carefully. Masters programs have come a long way. In the past, there used to be more rigidity in terms of when and where you earned your credits, but nowadays there are a lot more options for fitting a master’s degree into your schedule.
A master’s program usually consists of 30 and 60 credits, so you can plan your schedule around how many credits you’ll need and how many you can earn in a semester easily. If I was in your place, I would suggest not letting your schedule be a prohibitive factor in getting your master’s degree. You have multiple options to make it work and it will be worth it! The time you will invest in this your master’s degree will pay off in your future for sure.
Ask Yourself These Questions to Determine if a Master’s Degree is Worth it.
A master’s degree is a credential that can make your resume brighter and more appealing. But if you are having a tough time making up your mind about getting a master’s degree or not then ask yourself these questions before making a decision:
- Am I willing to learn new things?
- Do I have one to two years to devote my time and energy to completing my master’s degree?(regardless of the challenge that I will face)
- Which master course best fits my interests and professional needs?
- Am I investing in my long-term career prospects and growth?
If you think it is worth committing yourself to it then prepare yourself as it’s a huge commitment and requires a substantial effort.
After making up your mind you must be wondering about the overall process and the universities that you choose from but are not able to decide on a university then contact Edvise Hub’s consultant and they will surely have all the answers to your problems. So, book a FREE session today!