There are as many answers to this question as there are Masters Degree programs available. Opinions are rampant, but there is no hard evidence that provides a solid equation answering the question. But from any perspective, it’s hard to argue that less education is more productive.
Generally the equivocating answer is, “It depends on the degree.” An MBA or an engineering degree is going to make you more money on an annual basis than a Bachelors Degree in the same discipline. The increase in salary will pay for the increased cost of education, whether it’s $30,000 for a Masters in Civil Engineering at a state school or $100,000 for an MBA program at an elite institution. But it’s a matter of how long it will take you to pay back that money, how much of a psychological burden those loans are, and whether or not you could eventually achieve the same career status by working up through the ranks.
Many educational “experts” suggest that a Masters Degree in a liberal arts discipline simply isn’t going to provide the additional income that will balance the educational investment. A New York Times series published in June of 2009 raised this issue in several erudite columns – all but one of which was written by a tenured university professor. It’s easy to take an unblemished look at the Masters Degree market from within the ivy covered halls, but the view from the classroom – and from business human resources offices – isn’t quite so cut and dried.
The MBA and the CPA have, until recently, been considered Teflon degrees that guaranteed quality employment upon graduation. Because most states require additional classroom credits for CPA status, it is essentially a Masters program today. However the jobs that have gone to entry level CPA and MBA candidates in the past are increasingly migrating offshore. MBA graduates in 2009 found that recruiting was down 10% from the previous year. Professor Robert Salomon at the NYU School of Business feels that 2010 will be worse. Certainly a good part of the reason is the feeble economy, but the fact that MBA students are graduating in hoards also has impacted the market.
Liberal Arts is a large catch-all that includes some fairly lucrative options. Some pundits seem to feel that a Masters Degree in the social sciences won’t pay its way. Does that include psychology, or marriage and family counseling? Jobs in these fields can pay handsomely, as can counseling in an educational environment. Public school teachers generally need a Masters Degree; in many cases new teaching graduates are pursuing a career based on personal interest rather than income alone.
Many employers looking for entry level sales and marketing people are just as interested in an anthropology graduate as a business major. Successful businesses run on efficient, quality human interaction and often employers find those qualities more readily apparent in liberal arts majors with a broad perspective on the world. The Federal Bureau of Labor Statistics shows in a detailed, though dated, analysis that while Liberal Arts majors are hired at a lower pay scale than their counterparts in engineering and business, they are still hired and often over the course of a career catch up on the salary scale as well.
Related Questions & Answers
I have also included a link to a place where you can begin your search for a masters in IT management.
Make sure to avoid any unaccredited schools. Accreditation is extremely important when getting any kind of degree online.
Lastly, there are a lot of people who frown upon online institutions. If you do get your degree online you should know how to defend it. It takes a tremendous amount of discipline and a thorough understanding of time management to be successful in completing a degree online and there is no reason for your degree to be looked down upon just because you completed it online.
Good luck!
Other Related Questions & Answers
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is it wise to get a masters degree in electrical engineering if you have a B.S in EE?
It all depends on what you want to do and on the specific branch of EE your are working in..
If you want your career to focus on technical work as an individual contributor, earning a masters degree may well be worth the effort. That is especially true in electronics, computers, microwave and communications, etc. Less true in power and design.
If you want to set the stage to expand your career beyond individual technical contributions (eg, into supervision or management), then earning an MSEE is less important, but earning an MBA could be helpful.
If you want to do pure research or teach, then you are almost certainly going to have to earn at least an MSEE, if not a PhD. -
Masters in Engineering Degree and a MBA?
ABSOLUTELY! Unless you or your husband are content with being a lower level engineer for a company the rest of your life, earning your MBA will enable him to accelerate through the ranks faster, and ultimately be in a managerial position. Since few MS grads move on to earn their MBA, it makes him even more worthy to potential employers, and is a strong bargaining chip for salary negotiation.
He doesn't necessarily have to go anywhere to earn his MBA either-- earning it through an accredited online program is just as effective as going elsewhere. -
A masters degree in adult education, a good idea?
I don't have an answer, only that I used to wonder the same thing. I was told you can get a job teaching something you were specialized in.
In my case, I want to eventually teach community college part time. I am going to grad school for I-O Psychology, and could possibly teach Intro to Psych or Human Resource/Organizational courses. I asked a professor if I should finish this degree, and then take the adult education program. He told me that there was not really a need to, because in my state (and many others) I could teach if I had a master's degree with at least 18 graduate credit hours in my field of specialization (in my case psych).
However, the adult education program would still be useful in gaining knowledge on instruction design and experience teaching for beginners, so I am still considering it.
I know there are many more opportunities available after getting this degree, but I just don't know what they are. - Should I get a masters degree in aerospace engineering? Go for your passion. Of course you should discuss it with your wife, but ultimately, you are the one who is going to have to go to work everyday. I am fortunate to have a job that I love and one that challenges me, but to get there, I had to quit a job that I had for a long time that I was really afraid to leave. You only live once. Making more money is not always the simple solution to happiness. Would you be happy as an aerospace engineer or do you want to do something else? Only you can make the choice for yourself. I will say this: take some time to really think about it and if the good outweighs the bad, then you know what to do. Good luck!
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