The Benefits of a Master's Degree in Today's Job Market (2024)

Higher education has become a necessity for many people who want to pursue a career in today’s job market. In an increasingly competitive landscape for top jobs, getting a bachelor’s degree might not be enough. A master’s degree in your field of study can help expand your knowledge and experience, and improve your chances of getting promoted or hired when you make your next career move.

During your undergraduate degree, you were exposed to a broader range of courses and subjects through general education before going on to the higher-level courses with a specific focus. A master’s degree is an advanced program of study that delves deeper into that specialty area and also prepares you for leadership in your career.

Everyone has a different reason for considering a master’s degree, but the benefits include:

• Better hiring prospects: An advanced degree can automatically help your resume stand out among other applicants with only a bachelor’s degree. It can also give you more breadth of experience to discuss during your interview process.

• The ability to change careers: Switching careers after several years is a challenging prospect. With just a bachelor’s degree, you might only be able to land an entry-level job or low-level supervisor position. A master’s degree can provide more knowledge and hands-on experience to help you land a higher-level management position in the career shift.

• Advancement with promotions: A master’s degree can help you rise to the top of the internal candidate list for a promotion. People with master’s degrees make an average of $240 more per week than those with bachelor’s degrees, according to the U.S. Bureau of Labor Statistics.¹ That’s a raise of almost $12,500 a year. Make sure you are ready by planning ahead to get your degree before a position opens up.

• Job security: In addition to increasing your marketability for promotions, an advanced degree can also make you more valuable to your company. That can help you withstand labor market shifts and layoffs if they come in the future.

• More training and advanced knowledge: For some, the pursuit of higher education is simply a way to stay up to date on the latest changes in your field. The business world is rapidly changing, and an MBA can help you keep up.

• Research opportunities: Some MBA programs will prepare you to conduct or participate in academic research that benefits your field. Today’s business world is ripe with opportunities for research breakthroughs.

• Building your network: MBA programs are a great place to meet other business professionals inside and outside of your field. Working and learning alongside one another is a great opportunity to get to know each other and expand your professional network.

A master’s degree can benefit you personally in your career, but it can also be a great investment for your company. For that reason, many employers are very supportive of employees who want to go back to school to pursue an advanced degree.

Master’s degrees that focus on a specific field, such as a business degree, provide advanced education and dive deeper into the professional and technical skills you will use in your profession. Other potential benefits to your employer include:

• Leadership courses that help you develop skills to successfully lead a team in a high-level management or executive position

• Independent study that shows you are self-directed and driven, and won’t constantly need someone to provide direction

• Communication skills for everything from presentations to clearly communicating ideas and reports to your peers

Some master’s programs also include hands-on training performing research or statistical data analysis. These skills are extremely valuable to your current or future employer.

A master’s degree in business administration (MBA) is one of the most sought-after graduate degrees for good reason. It provides a high-level overview of advanced business disciplines that can be applied in any industry and any company. Quality MBA curricula also help develop your:

• Communication skills

• Leadership skills

• Curiosity and desire to learn

• Strategic thinking capabilities

• Time management

Beyond these benefits for personal growth, MBA degrees are becoming more and more prevalent in top candidates. Increasingly, companies don’t just “prefer” an MBA candidate, they are actively recruiting people with advanced degrees over those with a bachelor’s degree only.

Most people who go back to get their MBA are already working, and balancing a career and a graduate degree is not easy. Flexible programs like the online MBA from the University of Kansas can help you balance work and personal responsibilities with your degree program.

The flexibility of an online program makes it easier to fit into your schedule — no commutes to and from campus or daytime classes with rigid schedules. You can complete the work on your own time with flexibility around your personal, family, or work schedule.

You can complete most online MBAs in about two years while you work full time. You won’t have gaps in your resume or spend years working toward a degree. All you need is a high-speed internet connection and a computer or tablet to complete your degree online.

Expand your creativity and impact in the University of Kansas School of Education and Human Sciences. Learn to engage students of all ages in our Department of Curriculum and Teaching, share your gifts with students with disabilities in our Department of Special Education, or keep motivation strong in instructional teams in our Department of Educational Leadership and Policy Studies. We offer online master’s degrees, graduate certificates, and licensure endorsem*nt programs, and our admissions advisors are here to answer your questions. Get in touch with us today.