When Do You Know That You Should Get a Masters
Should I get a Master'south degree now - or start working?
Author: — Last update: 14 February 2022
When y'all are nearing the terminate of your Bachelor'southward degree program, you lot are faced with an important question: Should you lot get a Principal's degree? And if yep, should you start with a Master's programme directly, or should yous beginning become a few years of work experience?
This guide is written by Gerrit Bruno Blöss, Founder and CEO of Written report.eu. Between finishing his Available'southward degree and starting his Principal'due south programme in another land, he did an internship that also led him away.
Should you lot work, or should you written report?
Career decisions are rarely easy. A big i is whether you should go along studying right later your Bachelors, or whether y'all should showtime working and exercise a Masters later on.
Both options have a lot of good reasons going for them. Let'southward accept a look at them:
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Reasons to exercise a Masters instead of working:
- A Master's caste makes it much easier to qualify for the jobs y'all want and increases job security in the long run. That's especially truthful in an economic downturn; commencement, information technology's easier to compete against applicants without a Masters, and second, those with just Bachelors might exist amongst the showtime to be permit go when times are tough.
- Yous'll earn more money with a Primary's degree. With the additional qualification and the added responsibilities, you can expect a college salary than with only an undergraduate caste.
- Afterward a longer break from university, it will be more than difficult to get back into the "groove" of learning. Some more selective universities, particularly in continental Europe (as opposed to the Uk or Ireland), therefore prefer students with non also much piece of work experience. (Yes, this sounds counterintuitive - considering more is ever better, right? The reasoning is this: Academic learning is very different from nigh typical jobs, and if you've been abroad from campus for too long, you may find information technology difficult to get back into the "rhythm" of attending lectures, writing essays, and studying.)
- If you don't desire to have a 2-yr pause, consider 1-yr Masters! These are sometimes not enough to become into PhD programmes, but employers usually don't run across a large difference and value them just every bit highly.
- Some scholarships are only available to students who have no work experience, or are nether a certain age. Postponing your Masters in favour of work may disqualify you.
- Some careers will de facto require professionals to take a Master's degree to advance beyond a certain stage.
- If your goal is to do a PhD after on, a Masters is the right (and often necessary) adjacent pace after an undergraduate degree. Fifty-fifty if yous could do a PhD without a Masters, it will exist much more difficult.
Reasons to work and postpone your Master'southward caste:
- Work experience can help figure out what to study: If yous are unsure what subject to go a Masters in, get a relevant task, or try finding an internship. The feel you lot gain will assist y'all make the correct decision after on. This is specially true of versatile entry-level jobs like graduate/trainee programmes where you bike through multiple departments, or a task in consulting where you would work with multiple clients across different industries.
- You can relieve money, and rely on your savings when yous exercise a Masters later. Financing studies with your own money is much smarter than taking a student loan. That's usually smarter than taking a pupil loan.
- Initial work experience in a relevant field adds value to your learning experience during a Masters. This can be in a full entry-level position, but also ane or 2 internships can exist very insightful. (For example, when I started my ain Masters in Finance, I had already done internships where I learnt a lot about topics I would so explore further at university.) Even better: Try doing an internship abroad!
- If you didn't finish your undergraduate degree with a skilful form, or if y'all lack formal teaching in a sure subject, relevant work experience volition help yous become into a expert academy subsequently.
How long should you piece of work earlier you exercise a Masters?
If you plan to get work experience earlier you pursue a Master'south degree, at that place is the question of timing: When is the right fourth dimension to leave your job and go back to university? While this is highly individual, consider working between 18 months and 3 years before you go dorsum to academy. Here are a few points to take into account:
- If y'all work longer, you lot can salvage more money. That'due south a good argument to piece of work longer. The only risk is that, with a good income, over time you lot'll get used to comforts that yous might non be able to afford while you are back at university.
- After your Bachelors, if y'all start in an "open up-ended" entry-level job, then stay at that company for at least eighteen to 24 months.
- On the other hand, if you just take 12 months earlier your desired Chief starts, consider doing two internships (and possibly taking some fourth dimension off). Less than 18 months is but appropriate if information technology's a fixed-term scheme, like a graduate trainee programme that runs for a set amount of time. Hither's why: Employers prefer to be able to plan alee, because recruiting is an expensive and time-consuming process. If your CV contains too many signals that you change jobs often - and leaving your first job after 12 months can exist such a signal -, your chances at being hired will decrease.
- Don't wait besides long: If you plan to get back to university, practice not piece of work longer than 3 to four years. There are two main reasons for this: Outset, it will become more than hard to readjust to university life and studying for courses. 2d, considering of that, some universities actually prefer MA/MSc applicants with a maximum of iii to iv years piece of work experience. Also, you may find it a flake harder to brand friends on campus if yous are significantly older than your classmates.
If you have already worked longer than that and programme to go back to university, contact the admissions offices at the universities or business schools you are interested in. They will be able to respond how well their programmes accommodate you, and how successful other mature students have been before you.
Is a Master'southward degree worth the cost?
Getting a postgraduate caste can be expensive, especially when pursuing information technology total fourth dimension. You do non earn a salary for the one or two years you lot are at university; you may have to pay high tuition fees; and perhaps you lot study away in a country that'south more expensive than your home country. You may try to find a scholarship, but those are not bachelor to all students. Y'all could likewise get a student loan, but debt is never advisable if you lot can avoid it.
These factors add up, so you need to ask yourself if you tin can (or want to) afford information technology. The good news: By and large, getting a Masters is worth the money! While you may find information technology difficult to finance your studies, over time, the financial benefits will outweigh the initial costs. You will earn a college salary and exist much more flexible in your career.
The salary increase with a Principal's degree
With a Primary'southward caste, you lot volition earn more money. That's an undeniable fact. The question is: How much more money volition it be? And that's difficult to generalise. The added value of the degree depends a lot on your manufacture, your country and region, the shape of the economy, and your individual experience, skills and circumstances.
To get a rough idea of the potential salary increase, information technology pays off to look at labour marketplace statistics. The European Statistical Part (Eurostat) reports that - among the whole workforce, i.e. at every age and level of feel - those employees with a Masters (or higher) earn on average 24% more than those workers with just a Bachelors, with differences in some countries as high every bit +53%:
| Country | Salary difference with Masters (or college) |
|---|---|
| Austria | +41% |
| Belgium | +47% |
| Finland | +40% |
| French republic | +45% |
| Federal republic of germany | +38% |
| Ireland | +21% |
| Italy | +53% |
| Netherlands | +40% |
| Espana | +32% |
| Sweden | +34% |
| Switzerland | +22% |
| United Kingdom | +11% |
| Eu-28 average | +24% more |
Source: Eurostat [earn_ses14_30]
Now, keep in listen that these numbers refer to the whole workforce, across all industries. Having a Masters volition not automatically net you a 24% higher salary in your first job.
Only your starting salary will be higher, you will be more likely to become promoted, and eventually earn substantially more than, all the while enjoying higher job security. (And for yous Americans considering grad school: The U.S. Bureau of Labor Statistics reports similarly promising numbers, with wage premiums of 14 to 89% for those with a Masters.)
This mode, while getting a Masters may be an expensive investment, it generally pays off over fourth dimension.
Do you need a Master'south to do a PhD?
A PhD (Doctorate) is the highest academic qualification a student can achieve, and requires substantial research piece of work. To be accustomed into a PhD programme, universities commonly require students to take a Masters in a relevant field.
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However, and specially in the U.k., it is ofttimes theoretically possible to progress directly from a Bachelor'southward degree to a PhD programme ("fast track"). The explicit minimum requirement for admission is then usually an "upper second course" Bachelors (two:one), or the equivalent from your country. (What a United kingdom institution considers equivalent to a two:ane differs from university to university.)
In other European countries, the eligibility criterion for acceptance into a PhD programme is often a sure number of ECTS credits that y'all are unlikely to accept obtained after just a Available'south programme.
In whatever case, doing a PhD straight after a Bachelors is more mutual in the "hard" sciences (Stalk subjects) than it is with the humanities.
But earlier you apply to PhD programmes with only a Bachelor's degree, ask yourself why yous desire to skip the Masters. If you're already fed up with studying and doing academic work, then the enquiry-heavy path of a PhD - and the career in academia that may follow - is most certainly not the correct option for y'all, anyway.
Should you even get a Masters degree at all?
If you tin can, then get a Masters degree, and do it abroad. You will learn a lot, make friends from all over the earth, abound as a person, and open up many new opportunities for yourself. And you tin wait to earn more money, besides.
Don't experience bad if y'all decide confronting a Masters: At that place are many reasons that tin can brand it difficult, like family unit or finances. If the fourth dimension just is not right, it is e'er possible to go dorsum to uni or graduate school later in life.
If you lot dislike the thought of going back to college for two years, don't forget well-nigh shorter Main programmes: You will notice plenty of options that are 18 months, 1 yr or even nine months. 1-twelvemonth Masters are particularly common in the Britain and Ireland, and likewise bachelor in the Netherlands, Kingdom of belgium, Sweden, and elsewhere.
Find shorter Principal'due south caste programmes in Europe
Should you get a second Master's degree?
If you already have a Chief'southward degree, there are a few scenarios where a 2nd Principal'southward degree may be worthwhile, and a few where it'south not a good idea. Let's look at it in particular:
- Getting a second Masters in the same discipline is ofttimes non a smart decision - fifty-fifty if the subject is slightly dissimilar. That's considering course curricula volition overlap and you're investing fourth dimension and money into "learning" things you should already know. And the new things you could learn by other means much more efficiently. In such a case, consult the curriculum to be sure it contains enough new things for you to acquire.
- Some students with an MA or MSc in a Business subject programme to do an MBA later on, short for Master of Business organisation Administration. This but makes sense in very few cases. At the very to the lowest degree, y'all should have relevant work feel before enrolling in an MBA, and you should make sure that the curriculum contains new topics. (Observe MBA programmes in Europe)
- Regardless of the subjects, from an employer'due south perspective it will wait specially weird if you're doing the second Masters directly after the starting time one. It may look like you failed to notice a job or were afraid of even looking for i. All else existence equal, an applicant with two Master's degrees and cipher piece of work experience is ordinarily less attractive than an applicant with one Chief's degree and one or 2 years of work experience.
- If you desire to stay in academia, consider going for a PhD instead.
A second Master's degree can facilitate a career change. Just brand certain you accept explored other options, also: See if you can change positions at your current employer, or find a different job elsewhere. And keep in mind that - depending on how different your new desired career is - your previous piece of work feel may not exist relevant, and you lot may be forced to first in a inferior position again.
Some universities, especially in French republic and Belgium, offering Avant-garde Masters in add-on to their "normal" Masters. Such programmes are specifically targeted at applicants who already have an previous Primary'due south degree - it'south an admissions requirement. They usually last i year, with usually 60 ECTS credits.
Here is another very good reason to get a 2nd Masters, and maybe even in a similar discipline to what you studied before: If you will nourish academy in another state - in which you then plan to stay and work afterwards graduation. Such a motility volition substantially increase your chances with local employers. You are already on location (and perhaps savor the benefits of a mail service-study work visa), and it will be easier for companies to estimate the contents and quality of the caste you obtained in that state.
Too, don't forget that a university caste is not the but way to acquire and qualify yourself for new endeavours. Consider flexible alternatives like short courses, professional certificates or others.
What about doing a gap twelvemonth?
When you cannot determine betwixt a Master'south degree or working, doing a gap twelvemonth might exist another viable alternative.
There are no fixed rules for what a gap year is, or what you tin spend your time doing. It'south a adventure to travel, proceeds new experiences and make up your mind about what you lot want to practice later in life. It'due south likewise something you will likely non practise later in life - and so if information technology appeals to you lot and you have the chance, go for it!
Here are simply a few ideas of what y'all could be doing during a gap year:
- "Work and travel" programmes
- Volunteering away for a crusade yous believe in
- Summer schools abroad
- Short classes (and perchance function-fourth dimension online while you lot travel)
- Internships
- Just travel and enjoy some time off
Checklist: Is a Masters right for y'all?
A Principal's is not the right pick for everyone, and in that location is no shame in admitting it. If you are unsure, go through the lists beneath, and see which of the statements employ to yous and your situation. And if you're still unsure, don't experience rushed: You lot tin can postpone this decision for a while and cheque once more where yous stand in six or 12 months.
Pursue a Master's degree...
- ...if you are passionate about the field of study and excited at the perspective of attaining more expert cognition.
- ...if you lot are aware of the effort it takes to successfully end a Masters, and willing to take information technology on.
- ...if yous tin afford the tuition fees and cost of living while earning no salary, or earning less, depending on the study way you choose.
- ...if you are sure that the caste volition positively bear upon your career.
- ...if y'all can notice suitable study options that match what you're looking for.
Practise not pursue a Master's degree (yet)...
- ...if you are not sure what you lot want to do with your career.
- ...if you struggled too much with coursework during your Bachelors - because a Masters will be more than hard.
- ...if you cannot afford it fifty-fifty with scholarships, financial help from your family, wages from part-time work, or a small loan.
What are alternatives to getting a Master'due south degree?
A Masters may non be the best style forward for you. Depending on the goals y'all want to achieve, the following options are worth exploring:
- Postgraduate diplomas (PgDip) and postgraduate certificates (PgCert): Postgraduate diplomas and certificates are credentials you will find offered peculiarly at British universities. In many cases, their class syllabi are similar or equivalent to the respective Principal's programmes, but with a few courses removed, and normally they as well do non crave a thesis at the end. This makes these courses an attractive selection if you are looking for Masters-level educational activity but take less time and coin to invest.
- Massive Open Online Courses (MOOCs) and micro-credentials: The internet has made didactics much more than accessible, and online learning is easier than ever. There are a number of platforms where you tin can enrol in courses - some shorter, some longer - to learn about whatsoever topic y'all can imagine. Some offering exams or other ways leading to credentials.
- Effort a unlike job at your current employer: If you are already working and your goal is a career change, perhaps that is possible at the company y'all work for - without going back to university. You lot might transfer to another department, try a completely new office or movement to some other part location where you would have different or more responsibilities.
- Professional qualifications and industry certifications: In many professional person fields, you will find qualifications or certifications awarded to skilled professionals who undergo some examination. For case, in the financial industry, many professionals strive for the CFA qualification, which is considered somewhat comparable to an MSc in Finance. Such professional qualifications exist in well-nigh every field; note that they are usually not easy and crave solid subject cognition.
If none of these alternative options seem attractive to you, don't requite upward: There are many ways to obtain a Master'southward degree and you lot volition find one that suits you best!
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Source: https://www.study.eu/article/should-i-get-a-masters-degree-now-or-start-working
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