We all know that taking a master’s degree can require a huge investment of time, effort, and dedication. You’ll ask yourself can I afford this. Will I benefit financially in the long run? Well with an online MBA degree it does make life a little easier when you can work from home, however there’s still the question of life after your degree? That seems a scary prospect, do not fret, for we have a rundown of the financial benefits of doing a master’s degree.
Greater Career Advancement
MBA’s can open up new pathways in life. Many students who study for a masters in business administration degree are seeking to change careers, but not all are. Some are looking to narrow down and gain more knowledge on a specific path. Either way these degrees provide you with new skills within the work place, enabling you to show people higher up that you are an asset to the team. Earning this degree also shows evidence of determination, persistence and intellect. You can even earn your master’s degree alongside work commitments, so check out D’Amore-McKim School of Business to further your career!
Financial Reward
So will you benefit financially in the long run? Obviously, you have to consider how much the degree will cost you at the time, but if you consider the return on investment it doesn’t seem as bad. U.S. workers between the ages of 21 and 64, with a master’s degree or higher, can earn an average annual salary of $55,242, whereas workers with just a bachelor’s degree can earn $42,877, according to the United States Census Bureau. So completing a master’s degree can have a positive influence financially.
Better Business Network
Not only will you be learning from professionals who have worked in the field, but external visitors will be invited to share their knowledge and experience. You can use this opportunity to your advantage by asking for work experience or shadowing them, as this will show your interest. You will also gain a contact and a step up for the future.
High Job Security and Lower Unemployment
In 2015, 2.4% of master’s degree workers were unemployed compared to 2.8% who only have a bachelor’s degree. Having a master’s degree also shows hard work and commitment, so an employer is more likely to choose someone with a MBA degree rather than someone without one.
It can Make You More Employable
It depends, obviously, on how specialist your course is, but if you’ve narrowed down to a pin point then great, it’s more likely to have increased your chances. Statistically, the employment rate for postgraduates is higher than non-graduates. In the United Kingdom, for example, the employment rate for graduates was 88.3% rather than 69.1% for non-graduates. You have also shown that you can adhere to deadlines, self-motivate and manage your studies whilst at university. Therefore, you are showing potential employers you can excel and thrive in the job you have applied for.
When pursuing a master’s degree make sure you apply for a subject that truly fascinates you, and ensure you narrow it down to gain the most out of your degree.
Shift Frequency © 2016 – The Benefits of a Master’s Degree
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