No matter who you are and what industry you belong to, you are always looking to upgrade your career and move up the corporate ladder. Nobody wants to be stuck in the same position for all of eternity. Whether you want to move up from an entry-level job to a managerial position or you want to move to the executive position, there are some prerequisites to it that you have to fulfill. Without these prerequisites, you will not be eligible for a better position. One of those requirements is that of a master’s degree. It doesn’t matter which field or industry you belong to, you need a master’s degree under your belt for you to prove that you are capable of taking on more responsibilities and handling them efficiently. If you are into marketing and sales, you can do your MBA from a recognized university online or if you are a healthcare administrator, you can go for an online master's health administration degree that can help you on your way to the executive positions.
According to statistics, there are currently more than 16 million Americans who have done their masters in some discipline or field and the number is constantly increasing. A bachelor’s degree can only get you so far and after that, you need a push that only a master’s degree can provide you. There was a time when a bachelor’s degree was all you needed to have a safe and established career, but things have changed now. Here are some of the benefits you will avail after you have done your master’s degree.
1. Specialized Knowledge
Every field is expanding and there is new and more information being found about virtually every industry, niche or field in the market right now. If you opt for a master’s degree, you can ensure that you are at the top of the game and that you have the specialized knowledge that is required to up your game in the industry. As the market evolves, it needs people who can evolve right alongside it. If you can prove that you are ready and dedicated to boosting your knowledge and enhancing your skills, then you can be an integral part of the industry with sound credentials and knowledge to back your position up. In a world full of competition, you can easily stand apart from the crowd and let your employers know that they have taken the right decision in choosing you as an employee.
You also get to enhance your current skills and upgrade them so that you can stay on top of the trends in the market. Not only upgrading your current skills, but you also get to learn new skills that are the current need of the market and hence you can not only advance in your own field, but you can also even transition from one field to another based on the new and improved skills that you have now acquired.
2. Career Advancement
This one is pretty obvious and most of the people who undertake this task have this reason as their main motivation. With a master’s degree under your belt, you can easily attain higher positions and go into management and administration. You can go for the leadership positions and lead the company into the new era firmly and confidently. As more and more time passes, more and more companies are now opting to hire employees that already have a master’s degree or if they don’t then companies prefer employees who are not averse to learning and increasing their level of skills and knowledge. Over the last several years, more than 70 percent of employers have increased the educational standards that they want in their employees. Add to that the U.S. Bureau of Labor Statistics that we shared in the above point and you can see just how much you need a master’s degree. As the competition increases, some companies are even hiring master’s degree holders for entry-level jobs since they have the luxury of doing so. In most industries nowadays, the experience can only get you so far. If you want to attain a leadership position then you cannot do that without a master’s degree.
3. Increased Earning Potential
There are a lot of benefits that a master’s degree can give you apart from the learning and the job upgrades. One of those benefits is the earning potential. The more you evolve, the more you have the potential of increasing your income. If we take the average income of a person with a bachelor’s degree and compare it with a master’s degree holder, you will see that there is an almost 25 percent increase. The more specific your industry or niche, the more this percentage grows.
According to a study, employees who have a bachelor’s degree can earn up to $2.2 million over the span of their careers while those with a master’s degree can earn up to $3.6 million. This is a remarkable gap that you must take advantage of while you can.
4. Lifelong Learning
Up till now, we have discussed the monetary benefits of a master’s degree as well as the evolution in career and position. Now let’s talk about the improvement in your learning skills and others like research, writing, and analysis. When you go for a master’s degree, you get to work on various problems in the industry as well as coming up with state of the art solutions for it. That is one of the best ways to become a problem solver and tackle complex and seemingly hard to accomplish tasks and projects. A master’s degree allows you to build on your wealth of knowledge that you have acquired with your bachelor’s degree as well as your experience. It ensures that you are continuously learning and growing.
Enhanced Professional Network
When you opt for a master’s degree, whether you study online or in-person, you get to meet experts from various fields and disciplines. This creates a rock-solid network of connections that you can approach for help and other purposes.
Whether you are a fresh graduate or you have put some miles under your hood, right now is the perfect time for you to apply for a master’s degree. If you want to work and study at the same time, you can easily opt for an online master’s degree that will let you study in your own time and gain more experience at the same time.