29 Apr Why do You Need a Master’s Degree?
According to the US Bureau of Labor Statistics, jobs where a master’s degree is necessary will increase by 17% between 2016 and 2026. A Bachelor’s degree is slowly becoming outdated as more and more people are pursuing masters. Companies look for more specialised placements to fit their requirements and many jobs now have a master’s degree as a pre-requisite. Therefore, a master’s degree on your Resume gives you a much higher chance of being placed when compared to having just a bachelor’s degree.
Enhanced Knowledge of a Subject
A master’s degree is a specialisation in a particular subject. It increases your knowledge in the field and gives you an edge over others who have not got such in depth knowledge and expertise. It is a more focused course and enhances your current abilities and skills. For example, an MBA would be much more rigorous and in-depth than a bachelor’s in business. You can specialise in a particular area which would make you much better equipped in that field and prepare you to jump into the work-force right after graduation.
Enhanced Career Prospects
A master’s degree will boost your career prospects. Most companies require a master’s degree. In fact, 38% of employers have raised their education standards. If you do not have a masters, your resume may not be considered for that role. This would significantly reduce your chances of getting hired. A masters will also help you start out in a mid-level post, since you have more expertise and knowledge and will be ready to take on more responsibility and get promoted quicker.
Immersive learning Experience
A master’s degree is more practical and in detail. Theory gets converted into practical learning through a variety of case studies and industry projects. Your research, analysing and writing skills improve and this equips you with capabilities of understanding and breaking down complex real-life problems and solving them through different perspectives. These skills are vital when entering the job market.
While studying a masters, you will come across people from all walks of life. You are also connected to industry professionals. A lot of experts come and give talks at universities and many recruiters come to campus to conduct workshops. You get closer to the work force and understand the contemporary business issues, working style of a corporate world and what the industry expects from fresh graduates. This interaction mainly happens in master’s degrees. Many professors teaching these programs are industry leaders themselves and can provide valuable insight into the industry and provide real-world practical knowledge.
Technology keeps evolving at lightening pace and therefore many jobs are being rendered obsolete. People are forced to re-skill and up-skill. Doing a masters will help you gain more skills and in-depth knowledge of your subject. Many graduate programs are also inculcating soft skills in their students which will be required to stand out in an uncertain job market.
A master’s degree helps you get a pay increase. Since a master’s degree is more specialised, the pay will be higher than a bachelor’s degree. In India, doing a master’s degree would help you sit at the top of the heap. Starting salaries will be higher.
A master’s degree can take you far and is greatly appreciated throughout the work force. It is imperative to get one in order to have an edge over other candidates.