Professionals looking for better job opportunities will look to a master’s degree for better chances. But is it really worth getting a master’s degree instead of focusing on your current career ladder? Here is a breakdown of its advantages and disadvantages.
Master’s degrees allow you to change from your field into another field of expertise, especially if your earlier degree does not support your current employment. Developing a new expertise allows you better chances at employment in the industry.
Master’s degrees are now important because some prominent senior positions require that you have great knowledge about the industry and the application of your ideas in general. You are also better compensated having a masters or PhD in your degree. Combined with your experience in the industry, companies will rush to hire you.
Masters degrees take much time and money, and becoming increasingly affordable, masters graduates are increasing in number competing for the same position in different companies. It can take at least two years to finish your master’s degree in your desired field, and it may cost tens of thousands of pounds to finish an entire course.
You may also have to take your masters while being underemployed in a job, especially if you are financing your education by yourself.
Some companies also value experience rather than a degree, and some companies offer experience-based recommendation given you work for them for a minimal income but a senior position, which is technically paying them to employ you for recommendation.
Business and entrepreneurship also take the same amount of time and money, but it guarantees that you have a higher and sustainable income if you do will. It has its own risks, but it allows you to compete with the industry, and not in the industry.