Master’s Degree

A master’s degree is a graduate degree ea

rned after completion of a bachelor’s degree. Master’s degree programs vary significantly by school and field of study. People pursue master’s degrees for one of two reasons: to change careers or to advance within their current careers.

The master of arts (MA) and the master of science (MS) are the most common master’s degrees. Within each there are specific fields, such as master’s of science in mathematics or master’s of arts in history. Some fields have their own master’s degrees, like the MPH for public health, the MSEd for education, and the MBA for business.

Schooling

Universities and many colleges offer master’s degrees in various fields. Internet resources allow searching for programs by location and area of study.

Most programs take two years of fulltime study to complete, although some take longer and some can be completed in twelve months. Part-time options allow working students to take courses in the evenings, on weekends, and online. Some programs require comprehensive exams and/or a thesis in addition to coursework.

Distance learning master’s programs include correspondence courses, live teleconferencing, broadcast video, and/or online courses. Many colleges and universities offer distance learning options in addition to classroom education, while other schools specialize in distance learning. Students should check the accreditation of distance learning programs in their fields of study before enrolling.

Jobs and Wages

A master’s degree does not guarantee a higher-level job. Holders of master’s degrees may find themselves working next to people with less education.

On the other hand, many jobs require at least a master’s degree. They include, among others:

• Postsecondary school teachers
• Physical therapists
• Health educators
• Audiologists
• Counselors and therapists
• Urban and regional planners
• Psychologists
• Speech pathologists

Salaries vary greatly by field and location. According to the 2000 census, households with at least one master’s degree earned about $10,000 more than households with only a bachelor’s degree. The census also found that a master’s degree is worth $1.4 million more in lifetime earnings than just a high school diploma. According to Business Week, salaries for people who work in business jumps 10-82% when the complete a master’s in business administration (MBA).

Expected Fastest-growing Occupations (2006-2016) with
Master’s Degree and Median Wages

*Median wages indicate that the wages of half the people in these occupations were higher than this and half were lower. Wages vary by location, amount of work experience, and overall condition of the economy.

A master’s degree indicates mastery of a vocation or field of study. It can open doors for career advancement or career change.