Essential benefits of Master’s degree are abundant, and they shall form the major focus here in this write-up. Undeniably true is the fact that the advanced world has never grown out of lack of knowledge or lack of thirst for possession of the abundance of intellectual findings to be kept within grasp. Unlike in some of the third world countries in the globe where education is considered secondary after the unending and insatiable search for both basic needs and life’s unnecessaries.
In Education, there are several academic levels and certificates to attain before one can be certified fully educated and knowledgeable. On the list of certification, there are those who attain National Certificate in Education, Diploma (both National and Higher National Diplomas); then, there are the university degrees which are first Degree, Master’s Degree, and the Doctor of Philosophy (PhD). Through these levels, there are long years of intellectual research required before transition into the next level will be effected. But our focus today will majorly centered on Master’s Degree.
Master’s Degree, as an academic level or class, is sourced from the Latin word ‘magister‘ which, if awarded someone, means that someone who had been admitted to the rank (degree) of master (i.e. teacher) in one university should be admitted to the same rank in other universities. It can therefore be defined as an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice.
Types of Masters Degree
- Postgraduate/graduate master’s degrees
MA/M.A./A.M., MPhil/M.Phil., MSc/M.S./SM, MBA/M.B.A., LLM/LL.M., MAsc, etc. are the traditional formal form of master’s degree, where the student already holds an undergraduate (bachelor’s) degree on entry. Courses normally last one year in the UK and two years in the US.
- Integrated master’s degrees
MChem, MEng, MMath, MPharm, MPhys, MPsych, MSci, etc. are UK degrees that combine an undergraduate bachelor’s degree course with an extra year at master’s level (i.e. a total of four years in England, Wales and Northern Ireland, and five years in Scotland).
A 2011 survey of UK Higher Education Institutes found that 64% offered integrated master’s course, mostly in STEM disciplines, with the most common degrees being MEng, MSci and MChem. 82% of respondents conferred only a master’s degree for the course, while 9% conferred a bachelor’s degree at the end of the bachelor’s-level stage and a master’s degree at the end of the course and a further 9% conferred both bachelor’s and master’s degrees at the end of the course.
- Non-master’s level master’s degrees
The ancient universities of the UK and Ireland have traditionally awarded MAs in a different manner to that usual today. The Scottish MA is a bachelor’s-level qualification offered by the ancient universities of Scotland. The Oxbridge MA is not an academic qualification; it is granted without further examination to those who have gained a BA from Oxford or Cambridge Universities in England, and the MA of Trinity College Dublin in Ireland is granted to its graduates in a similar manner.
Essential Benefits of Master’s Degree.
A master’s degree normally requires previous study at the bachelor’s level, either as a separate degree or as part of an integrated course before you can truly stand deserving or qualified to run it. Thus, there are many essential benefits of master’s degree which you need to pay attention to in case you have been considering staying put at your first degree certificate only. It is quite unwise to do so especially with considerations to the labor competition and economic fluctuations of the present world:
1. It Helps One Advance in Research for Specialized Knowledge
One of the essential benefits of master’s degree is that earning it can help you gain specialized knowledge to advance in your field. As the workforce evolves, a graduate degree shows you’re dedicated to enhancing your industry expertise and credibility. You can focus on a particular field of study, which helps you become more competitive in your field.
The benefits of a master’s degree can also help you build on your current abilities, gain new skills, or even transition to an entirely new field. There are hundreds of graduate degrees you can earn in various industries, from business to design.
2. It Opens Up More Career Doors
A master’s degree can make it easier to transition into more senior positions, such as management and leadership. Many organizations not only recognize the benefits of a master’s degree, but even prefer their employees to have one. In fact, 74 percent of employers have raised educational standards over the last several years, with many companies looking to hire those with advanced degrees. In certain industries, such as education or health care, graduate degrees offer mandatory training and the best path for certain jobs or promotions.
3. A Master’s Degree Can Increase Your Earnings
In an economically competitive society, having a master’s degree is like having the key to an open financial door. There are essential benefits of master’s degree. By earning a master’s degree, you can significantly increase your income. On average, employees with a bachelor’s degree earn $65,400 per year, while those with a master’s degree earn a median annual income of $80,200—a 23 percent increase.
In certain fields, there is an even larger gap between employees with a master’s degree and those with less education. According to Georgetown’s Center on Education and the Workforce, biology and life sciences majors with advanced degrees earn 63 percent more than those with bachelor’s degrees, while graduate degree holders who majored in health and medical preparatory programs earn 137 percent more than those with bachelor’s degrees.
Overall, employees with bachelor’s degrees earn $2.27 million over their career, while those with advanced degrees can earn up to $3.65 million. This is a remarkable difference demonstrating that if you’re already college educated, earning a master’s degree can add a significant boost to your paycheck.
4. It Promotes a Lifelong Learning Process
Another one of the essential benefits of a master’s degree is that it also helps you improve your skills of making research, writing, and analysis. As a result, you can become a better problem solver and more easily tackle complex projects. By earning a graduate degree, you continue to expand upon a wealth of knowledge, preparing you for a life of constant learning. In addition, 73 percent of Americans consider themselves lifelong learners, and 74 percent have participated in an activity over the past year that enhances their lifelong pursuit of knowledge.
Think you don’t have the time? Don’t worry, many universities now offer the option to earn your master’s degree online—allowing you to create a schedule that works around your busy life.
5. Master’s Degree Facilitates Professional Network
Whether you take courses online or in-person, your fellow classmates come from a wide variety of industries and backgrounds. As a graduate student, you are connected to numerous professionals—many of whom are successful in their careers. You also study with professors who are industry leaders, providing real-world knowledge with valuable networks.
At Northeastern, we have more than 230,000 alumni and 3,000-plus employer partners in 150 countries. From the moment you start class, you have an ample network to help you advance your career.
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