Deciding to go back into education is a big decision. There are many pros and cons, but a masters degree can genuinely advance your career and make you stand out in a very competitive job market.
In fact, the U.S. Bureau of Labor Statistics recently reported that jobs requiring a master’s degree would likely increase by 18% between 2021 and 2022. It feels like it has never been more critical to remain a valuable employee and thrive in your career.
If you’re on the fence about taking the plunge back into education, here are four solid ways a masters degree can boost your career.
1. Your earning potential increases
A masters degree increases your earning potential – those with a masters degree earn around 23% more than those with just a bachelor’s degree.
The extent of your earning increase depends on the industry you work in. For example, business, nursing, and education are sectors where a masters degree, such as academicpartnerships.uta.edu/programs/master-of-science-in-nursing-education.aspx, make a significant difference in your quality of living.
2. Enhances your knowledge
A masters degree is the next step up in terms of academic knowledge and skill. Therefore, you will become the master of your subject. If you do a masters in business, you will have a real competitive edge with your specialized industry knowledge.
You can build on your current skills, learn new ones, meet new people, and even become inspired to change things completely by opting for a new course or new career.
Essential skills you can enhance by completing a masters degree are critical thinking, communication, writing, problem-solving, and even technical skills. These skills, although relatively simple, are becoming increasingly important to employers in this competitive landscape.
3. Your professional network will grow
We live in a world where, often, it is all about who you know and being in the right place at the right time. Whether you complete your masters in person on campus or online, you will have the opportunity to meet like-minded people. They could become friends to help you on your learning journey or professional acquaintances that reap the benefits down the line through shared connections and projects.
Additionally, as a student, you will be connected to many professionals and academics who have experienced firsthand the career success that you seek. Studying with these professors will give you insight into the experiences of industry leaders and valuable professional networks.
4. You are more likely to get promoted
Having an academic qualification improves your chances of being hired and then promoted. In a survey, 36% of employers reported that they probably would not hire someone who did not have a college degree, and 27% said they would seek someone with a masters degree. If you are on the fence about it, have a think about where you would like your career to go over the next five to ten years. Heading back to college could be a make or break for that dream.