The benefits of a master’s degree are undeniable; higher salaries, competitive advantages and more opportunities for growth and networking. While not all career paths and degrees require a master’s, here are some degrees that are better off with one.
According to the U.S. Bureau of Labor Statistics, in 2013, master’s degrees in business were obtained more than any other subject of study. A master’s degree in accounting or marketing can increase a median salary from $90,000 to $170,000 or $80,000 to $110,000 per year, respectively.
While job opportunities are ample with a bachelor’s in business, a master’s degree will provide more opportunities for growth in the professional world. To reach senior levels at the top of the corporate ladder or for salary increases, a master’s degree in business is preferred.
With a master’s in education, teachers at all levels of education can earn up to 43% more. In order to teach at a post-secondary level, or become a college professor, at least a master’s degree is required. The median salary for a post-secondary teacher is $79,640 per year according to the Bureau of Labor Statistics.
The median salary for an education administrator can increase by 44%. Educational administrators, while not teachers, are in leadership positions vital to the operations of learning institutions. This role often requires graduate education. The median salary for this role is $98,490.
While nursing does not require a master’s degree, a graduate degree is required to be a nurse practitioner. The average salary for a registered nurse in Texas is $72,890, while a nurse practitioner can earn an estimated average of $117,670.
With a master’s degree, a nurse practitioner will be able to do more for higher pay, including diagnosing patients and prescribing medications.
A bachelor’s in psychology or sociology will be able to provide a wide range of job opportunities such as caseworker or advisor for various departments. However, in order to practice psychology in a more clinical setting, such as being a clinical psychologist, at least a master’s degree in psychology is required.
With a graduate degree in psychology, counselors can also earn up to 35% more. Counseling and social work roles that require a master’s degree include school counselor or family/marriage therapist. School counselors earn a median salary of $60,510 per year.
A bachelor’s degree in public health can provide jobs such as health education specialists, public health advocates, or public health planners. Salaries for these positions and other jobs for a bachelor’s in public health ranges from $53,000 to $66,000. However, with a master’s degree in public health, public health consultants can make an average of $81,942.
Physician assistants also require at least a master’s degree and make a median of $121,530 per year.
A college education can open the door to many opportunities. Taking the step to pursue a post-graduate or master’s degree will open even more doors.