Asked • 05/03/19

Do masters degrees pay off?

Mark C.

As is the case for most answers in the admissions world, the answer would be, "it all depends." Masters degrees do pay off, but it is contingent on education and career goals. Undergraduate students majoring in history, for example often go on to law, business, etc master level degrees. Most students today think career (or their parents do) often just entering the undergraduate years. A Masters in Business Administration (MBA) for example, research shows enable graduates to earn higher salaries. You would be more competitive to get into a top masters program if you have a year or two of work experience so the program(s) know that you know that you are serious about the degree. Masters degrees do pay off as career research indicates this is most often the case. For some careers, it is imperative that you have one to be competitive in the marketplace.
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05/28/19

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Alexandra T. answered • 06/20/19

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Unfortunately, this varies widely depending on the field you are looking to enter. It is highly advised that you research employment outlooks for your intended field, which are published yearly by the federal government. In most cases, masters degrees do translate to higher salaries and more potential for promotions. But, this will vary depending on the field.


Additionally, something you will want to take into consideration when determining if a masters is worth it for you is how much you will have to borrow to complete the masters. Since most masters programs are only eligible for loans rather than grants, you will likely graduate with debt. So you will want to calculate how much debt is reasonable based on your increased earning potential from the masters degree.

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