{"id":10769,"date":"2023-03-08T09:09:11","date_gmt":"2023-03-08T14:09:11","guid":{"rendered":"https:\/\/www.goodwin.edu\/enews\/?p=10769"},"modified":"2024-12-13T17:03:22","modified_gmt":"2024-12-13T22:03:22","slug":"benefits-of-masters-degree","status":"publish","type":"post","link":"https:\/\/www.goodwin.edu\/enews\/benefits-of-masters-degree\/","title":{"rendered":"Top 4 Benefits of a Master’s Degree"},"content":{"rendered":"

All career go-getters know that it takes hard work to reach the summit of their professional goals. Dedication, concentration, devotion, motivation, and passion are core qualities of people who feel accomplished in their careers. While the most popular jobs today probably won\u2019t take blood, some people may confess that sweat and tears could be involved. When considering what it might take to climb to your high career aspirations, it is best to think of your journey as a marathon, not a sprint, throughout which you gather skills, endurance, and connections. Nobody climbs Mount Everest without training and a support system of experts, not to mention rest stops along the way!<\/p>\n

In some industries, a master\u2019s degree is required to obtain a certain job title. For others, however, it\u2019s an award that helps individuals reach the top of the career ladder. It helps them take a stand as leaders, stand out amongst the competition, and even positions them for high pay along the way.<\/p>\n

Here, we will explain the top benefits of a master\u2019s degree and why you may want to factor it into your future endeavors.<\/p>\n

1. Grab a spot on the leaderboard!<\/h2>\n

Master\u2019s degrees are rising in popularity at an exponential rate. The most recent U.S. Census Bureau educational attainment study<\/a> found that, in the two decades since 2000, the number of people with master\u2019s and doctoral degrees has doubled! Over 13% of adult Americans now have an advanced degree. As a job seeker in today\u2019s workforce, it would be wise to join that category of elite, hirable individuals and stand out against other candidates with a master\u2019s degree.<\/p>\n

If you\u2019re hoping to shift industries or return to school after taking other life steps, you should know that you would be in good company in any master\u2019s degree program. People ages 40 and older make up the highest percentage of enrolled graduate students in the United States, according to the\u202fOrganization for Economic Co-operation and Development (OECD)<\/a>. Learning in middle age seems to be having a renaissance and is qualifying individuals for leadership success!<\/p>\n

2. Get ahead in your discipline or sector of choice.<\/h2>\n

There are some specialty areas of study in which a master\u2019s degree is the best \u2013 and sometimes, the only \u2013 way to propel professional growth.<\/p>\n

According to findings by the\u202fNational Association of Colleges and Employers<\/a>, the fields with the highest differential between the average salary of those who earned a bachelor\u2019s degree and those who earned a master\u2019s degree, are as follows, in order of highest differential:<\/p>\n

    \n
  1. Biology<\/strong><\/em><\/li>\n
  2. Communication disorders sciences<\/strong><\/em><\/li>\n
  3. Business administration and management<\/strong><\/em><\/li>\n
  4. Computer information technology administration and management<\/strong><\/em><\/li>\n
  5. Communication and media studies<\/strong><\/em><\/li>\n
  6. Systems engineering<\/strong><\/em><\/li>\n
  7. Registered Nursing<\/strong><\/em><\/li>\n
  8. Psychology<\/strong><\/em><\/li>\n
  9. English language and literature<\/strong><\/em><\/li>\n
  10. Social work<\/strong><\/em><\/li>\n<\/ol>\n

    In some cases, master\u2019s degree holders make over 30k more annually than their bachelor\u2019s degree counterparts in the same field!<\/p>\n

    Particularly in industries requiring state certification, such as healthcare and education, a master\u2019s degree may be required to qualify for an advanced examination. For example, a master\u2019s degree is required of educators<\/a> who wish to become guidance or career counselors. A master\u2019s degree is also required for registered nurses who want to enter advanced nursing practice.<\/a><\/p>\n

    Meanwhile, master\u2019s degrees are not always necessary for job applicants in creative, language, or media-related fields, or even in entry-to-mid-level business or computer systems fields, which are less likely to depend on strictly regulated accreditation of the professional by law. However, a master\u2019s degree can help bolster a student\u2019s success in these areas.<\/p>\n

    It is a particularly great time to gain more education and advancement opportunities because the\u202fBureau of Labor Statistics (BLS)<\/a> predicts increased demand among all of these occupations,\u202fdue to a retiring baby-boomer workforce and innovations fueling new positions.<\/p>\n

    3. Earn a higher salary.<\/h2>\n

    Regardless of your chosen industry, it is proven that master\u2019s degree holders make more money than bachelor\u2019s degree holders. The\u202fBLS found that education pays<\/a>. In 2021, bachelor\u2019s degree holders on average made $1,334 weekly, while master’s degree holders made, on average, $1,574 weekly.<\/p>\n

    The difference is $12,480 annually, on average, which is enough to make a substantial dent in a mortgage or car payment or can add up in a savings or retirement account. However, as seen above, the differential can be much greater between degree holders.<\/p>\n

    4. Avoid breaking the bank.<\/h2>\n

    Are you worried about earning a master\u2019s degree because you\u2019re one of the\u202f43.5 million borrowers<\/a>\u202fwho have federal student loan debt? You are not alone! On average, public university students borrow $31,410 for their bachelor\u2019s degree. If you are still paying down interest or have made it to the principal on undergraduate student loans, don\u2019t let your balance keep you from planning for your future. It is possible to find a graduate program that is affordable, flexible, and offers financial aid options.<\/a><\/p>\n

    Finding a program that is transparent about tuition<\/a> per credit hour, in addition to all the fees that you may acquire, makes it possible and reasonable to plan for your master\u2019s degree education. In addition, the flexibility of part-time, online,<\/strong> and hybrid<\/strong> schedules means that you could continue to work or balance other life responsibilities while earning your degree. Evening, afternoon, morning, weekend, or weekday: All times of the day are fair game when you make up your flexible schedule for just about\u202fany major master\u2019s degree at Goodwin University.<\/a><\/p>\n

    Complete Your Master\u2019s Degree at Goodwin<\/h2>\n

    For more information about the benefits of a master\u2019s degree from Goodwin University, please get in touch with an admissions representative at 800-889-3282, and find your starting spot in one of our three annual academic sessions! Studying year-round is another master\u2019s degree benefit that will get you closer to your professional goals, faster. At Goodwin, we offer a range of affordable and flexible master\u2019s degree programs, such as:<\/p>\n