28/02/2022 21:10 The Benefits of a Master’s Degree in Today’s Job Market

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The Benefits of a
Master’s Degree in
Today’s Job Market
By Tamar Shulsinger
 | 
July 19,  
2017

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28/02/2022 21:10 The Benefits of a Master’s Degree in Today’s Job Market

More than 16 million Americans

(https://www.jobscan.co/blog/8-of-americans-have-
masters-degrees-can-grad-school-help-you-find-a-
job/)—approximately eight percent of the population—
have a master’s degree, representing a 43 percent
increase since 2002. While earning a bachelor’s degree
used to be enough to establish your career, today this
is not the case.

According to the U.S. Bureau of Labor Statistics

(https://www.bls.gov/opub/mlr/2013/article/pdf/occupational-
employment-projections-to-2022.pdf), jobs requiring
a master’s degree are projected to increase by 18
percent from 2012 to 2022. In today’s increasingly
competitive job market, the benefits of a master’s The best of our graduate blog—right to your
degree can help you differentiate yourself and remain
inbox.
a valuable employee.

Want to set yourself apart from the rest of the

workforce? Below are several ways that earning a
Stay up to date on our latest posts and university events.
master’s degree can help you thrive in your career.
Plus receive relevant career tips and grad school advice.

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28/02/2022 21:10 The Benefits of a Master’s Degree in Today’s Job Market

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28/02/2022 21:10 The Benefits of a Master’s Degree in Today’s Job Market

Benefits of a Master’s
Degree in Today’s Job
Market
Specialized Knowledge
Earning a master’s degree helps you gain specialized
knowledge to advance in your field. As the workforce
evolves, a graduate degree shows you’re dedicated to
enhancing your industry expertise and credibility. You
can focus on a particular field of study, which helps you
become more competitive in your field.
The benefits of a master’s degree can also help you
build on your current abilities, gain new skills, or even
transition to an entirely new field. There are hundreds
of graduate degrees you can earn in various industries,
from business to design
(https://www.northeastern.edu/graduate/programs/#/master/-/-/-/-/-/-/-/-/-).
The best of our graduate blog—right to your
Career Advancement inbox.
A master’s degree can make it easier to transition into
more senior positions, such as management and
leadership. Many organizations not only recognize the Stay up to date on our latest posts and university events.
benefits of a master’s degree, but even prefer their Plus receive relevant career tips and grad school advice.
employees to have one. In fact, 74 percent of
employers have raised educational standards Email
(https://www.careerbuilder.com/advice/employers-
looking-for-more-educated-workers) over the last
several years, with many companies looking to hire
those with advanced degrees. In certain industries, Subscribe
such as education or health care, graduate degrees
offer mandatory training and the best path for certain
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Increased Earning Potential

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28/02/2022 21:10 The Benefits of a Master’s Degree in Today’s Job Market

By earning a master’s degree, you can significantly

increase your income. On average, employees with a
bachelor’s degree earn $65,400 per year, while those
with a master’s degree earn a median annual income of
$80,200—a 23 percent increase
(https://research.collegeboard.org/pdf/education-
pays-2019-full-report.pdf).

In certain fields, there is an even larger gap between

employees with a master’s degree and those with less
education. According to Georgetown’s Center on
Education and the Workforce
(https://cew.georgetown.edu/wp-
content/uploads/The-Economic-Value-of-College-
Majors-Full-Report-web-FINAL.pdf), biology and life
sciences majors with advanced degrees earn 63
percent more than those with bachelor’s degrees,
while graduate degree holders who majored in health
and medical preparatory programs earn 137 percent
more than those with bachelor’s degrees. The best of our graduate blog—right to your
Overall, employees with bachelor’s degrees earn $2.27 inbox.
million over their career, while those with advanced
degrees can earn up to $3.65 million
(https://cew.georgetown.edu/wp- Stay up to date on our latest posts and university events.
content/uploads/2014/11/collegepayoff- Plus receive relevant career tips and grad school advice.
complete.pdf). This is a remarkable difference
demonstrating that if you’re already college educated, Email
earning a master’s degree can add a significant boost
to your paycheck.

Lifelong Learning Subscribe

The benefits of a master’s degree also help you
improve your researching, writing, and analyzing skill
By providing us with your email, you agree to the terms of
set. As a result, you can become a better problem
our Privacy Policy and Terms of Service.

solver and more easily tackle complex projects. By

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28/02/2022 21:10 The Benefits of a Master’s Degree in Today’s Job Market

earning a graduate degree, you continue to expand

upon a wealth of knowledge, preparing you for a life of
constant learning.
In addition, 73 percent
(https://www.pewresearch.org/internet/2016/03/22/lifelong-
learning-and-technology/) of Americans consider
themselves lifelong learners, and 74 percent have
participated in an activity over the past year that
enhances their lifelong pursuit of knowledge.

Think you don’t have the time? Don’t worry, many

universities now offer the option to earn your master’s
degree online—allowing you to create a schedule that
works around your busy life.

Enhanced Professional Network

Whether you take courses online or in-person, your
fellow classmates come from a wide variety of
industries and backgrounds. As a graduate student,
you are connected to numerous professionals—many The best of our graduate blog—right to your
of whom are successful in their careers. You also study inbox.
with professors who are industry leaders, providing
real-world knowledge with valuable networks.

At Northeastern, we have more than 230,000 alumni Stay up to date on our latest posts and university events.
and 3,000-plus employer partners in 150 countries. Plus receive relevant career tips and grad school advice.
From the moment you start class, you have an ample
network to help you advance your career. Email

Interested in earning your master’s

degree? Subscribe
Explore Northeastern’s 200+ graduate programs to
find the one that can best help you achieve your goals. By providing us with your email, you agree to the terms of
our Privacy Policy and Terms of Service.

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28/02/2022 21:10 The Benefits of a Master’s Degree in Today’s Job Market

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About Tamar Shulsinger

Tamar Shulsinger is a content
contributor for the Enrollment
Management team at Northeastern
University.

(https://northeastern.edu)
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