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Adding a master’s degree to your resume is an excellent way to stand out in a highly competitive job market. However, an advanced degree is a significant investment of time, money, and energy. Is it worth spending one or two more years in school for an advanced degree? Shouldn’t you spend this time gaining experience in the workplace? Although you can build a thriving career with only a bachelor’s degree, the right master’s degree can definitely accelerate your career and open more doors for you.
Should you get a master’s degree? Here are three things to consider.
Your Career Goals
Before deciding if getting a master’s degree is right for you, think about your medium- and long-term career goals. Where do you see yourself in five or ten years? Would you prefer a linear career path in a specific field? Do you hope to challenge yourself by trying different things as you progress professionally? Defining your career goals is not easy, but having at least a vague idea of what you want to achieve will help you make the best choices now.
If you are an ambitious person and hope to get leadership roles someday, you may need to look into MBAs. An MBA, or Master of Business administration, prepares students to make an impact in the business world, either in a company or through individual pursuits.
Read more about executive MBA vs MBA to find the best option for you, considering your expectations and career goals.
Your Financial Situation
A master’s degree from a top school can be expensive. Students must cover tuition fees, the cost of books, textbooks, and other learning materials, as well as their living expenses. Academic institutions know that many graduate students need to work to support themselves, so they typically offer the option to choose between a full-time and a part-time program. Studying part-time allows students who keep a job for the duration of their studies.
Sorting out your finances before deciding to continue your education is critical. Can you afford not to work for the duration of your studies? Can you access funding? Are loans a possibility? Some companies offer sponsorship contracts to employees looking to obtain an additional degree.
Your Time Availability
Getting a master’s degree is not easy. You are paying for the opportunity to study, but you must still earn the diploma through hard work. The curriculum is highly advanced because students must go much further with their knowledge and practical skills than they ever did.
A master’s degree will provide value to your career if you focus on extracting as much value from the courses as possible. Being a responsible, dedicated student is critical for having a rewarding experience. How much time per week can you afford to spend studying?
Final Words
Making decisions about your academic and professional future can be daunting because there are so many subjective and objective variables to consider. Follow our tips to clarify your expectations and make the best choices for your future self.
