What You Can attain by Having a Master's Degree

During the time of our parents, a bachelor degree from any college was more than enough to guarantee success in the office and life in general. In today's highly competitive culture however, a college degree is just the basic necessity to be even considered for employment. That won't guarantee you a job either as companies will mostly consider those who graduated college with top notch grades and accolades.

Now, you only have two choices, either become an entrepreneur and create a business or get a master degree. People say that experience is the best teacher so your past mistakes will become handy in creating your own business but if you're afraid of the different risks involved in entrepreneurship, your best bet is to get a master's degree instead. Here are some great reasons to entice you to get in a master's program and get ahead!

Higher Job Potential

Like what I've said earlier, a bachelor's degree is so common these days that companies are looking for something that stands out in their pool of candidates. A postgraduate degree will provide you that extra advantage over your competition in the job market. According to Brian D. Kelley, chief information officer at Portage County Information Technology Services, "many entry level jobs today now require a master's and virtually all senior management and senior professional positions require a master's." Also, think about the networking opportunities, professional development, and additional experiences and achievements you can put on your CV.

Higher Earning Potential

Although a postgraduate degree doesn't guarantee a higher pay, but according to the US Bureau of Labor Statistics, it does. In fact, an average master's degree holder earned 22% more than the average bachelor's degree holder. This number is quite consistent as the Canadian Association for Graduate Studies also found that master's degree holder earned 25% more than their bachelor's degree coworkers. Kelley said that, “having a master's degree can increase your annual earning potential beyond your annual compensation without a master's.”

Although there are more benefits in acquiring a master degree such as professional credibility and higher promotability, success also depends on the degree you choose. Having a master's on business administration (MBA) might be the obvious choice if you want to rise in the corporate ladder but with many people also taking up an MBA, it might not seem so impressive by the time you're done. According to Forbes, other lucrative master's degrees are those that focus on computer sciences, civil engineering, math, economics, and political science.