Helpful for: Master’s, MBA Applicants
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- The US Bureau of Labour Statistics has estimated that a master’s degree will be required for 18% of the jobs by the year 2020.
- The Federal Reserve Bank of St Louis reported a 6.7% unemployment rate in February 2019 for those without a high school diploma in the United States. The unemployment rate was 2.4% for those with a bachelor’s degree and 1.8% for those with a master’s.
- According to Lucia Tyler, PhD CEP, having a master’s degree increases chances of employment for specific fields such as education or healthcare. She adds:
If you have an interest in business or a related career, it is also worthwhile to consider obtaining a master’s degree, according to admissions advisor Dr Deb A Felix, who told us: “There are many jobs in business, especially in the areas of consulting and investment banking, that for all intents and purposes require a master of business administration (MBA).
- A master’s degree communicates to your potential employer that you have specialized knowledge and skills. The degree also demonstrates that you value personal development and are open to learning new things.
- In 2017 The US Census Bureau reported that 9.3% of Americans had a master’s degree.
- A master’s degree will increase your salary. The State Higher Education Executive Officers reported that professionals with a master’s degree earn 35% higher wages than those with a bachelor’s.
- You should consider your goals and set clear career objectives before deciding on a master’s degree. Graduate school is a big commitment both in time and finances.
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Source: The Independent