Close
Search
Menu Menu

Question – Is it worth studying for a Masters?

Credit: Thred
By
Oxford, UK
0 energy + Add Energy
What is energy?
Want to show your appreciation? Give an article “Energy” and it will help us know what you like.
0 comments
0 comments

Wondering whether you should look into getting a Masters degree? Our career coach offers up some advice to help you make the big decision.

Question: How do I decide whether it’s worth studying for a Masters or not? Will it improve my chances of getting a better paid job? (Carmen, London)

I think there are broadly three reasons why young people choose to study Masters degrees: employability, personal interest, and putting off a career decision.


Is it for your own, personal interests?

Let’s take the easiest one first. If you have the opportunity and can afford it, and you love the idea of further study and deepening your knowledge in your chosen subject area, then go for it. It’ll be an enriching experience.

There are some very big ‘ifs’ in that last sentence, though, so think it through carefully.


Are you putting off a life decision?

I’ll address the second easiest one next: putting off a career decision. I think in most cases, this is a bad idea, especially if we are talking about doing a Masters straight after your undergraduate degree.

Many employers value work experience and qualifications more than further study for people in the early years of their career. And if you go straight into Masters after your first degree, employers will suspect you didn’t know what you wanted to do, or couldn’t face giving up student life. In addition, by entering the workplace, you’ll learn more about yourself and be better placed to make more informed career decisions later on.


Is it to improve your employability?

That leaves us with the big one: employability. Will a Masters improve your chances of getting a better paid job? The raw data tell us – yes. The median salary for UK first degree graduates, 5 years after graduation, is just under £30,000. For Masters, it’s just under £40,0001.

However, this data needs to be considered carefully. Firstly, averages hide a wide range of outcomes, and you’ll find salaries vary wildly between different employment sectors and different subjects studied. There is of course a huge difference between vocational programs (such as an MBA or Masters in Management) and more academic ones (for example, in the Humanities).

In the UK, you can interrogate this data online to help you develop a more nuanced view, something that I highly recommend if you are thinking of doing a Masters.

Secondly, remember that Masters students are typically older than undergraduates, and would be earning more at this stage in their career anyway.

Finally, you need to understand your own individual situation.

Are you considering a Masters to accelerate in your current career path? What do the people around you think of the idea? Have you spoken with your manager, your HR function or other mentors?

What do they say, do they agree that it will accelerate your career, do they think it is the right time, or do they think alternatives, like professional qualifications (or just getting more experience) are a better option?

And if you are thinking of doing a Masters to change careers, have you spoken with people in the new career area to understand how it will help?

Is a Masters valued in that career path? What are the hiring practices, will a Masters open the door to a career change, or is it more about experience and networking?

https://www.youtube.com/watch?v=rt6ake45s1E

Geography might play a big part in your decision-making as well. Some labour markets, such as Finland or Germany, place a high value on Masters degrees, and they can be a prerequisite for certain jobs. In other countries, such as the UK, while a Masters is additive, there is no Masters-specific job market to speak of.

In my experience, most people who study Masters degrees find them rewarding and enriching. But don’t assume a Masters will automatically lead to a higher paying job.

It will only ever be part of a picture that also includes your work experience, ability to network, and your ability to convince people you are the right person for the job. As always, think through why you want to follow this path, explore alternative options, and talk to people to get their perspective so you can make a fully-informed decision.

Careers Coach Oxford, UK

I’m Dan (He/Him), a careers coach who is passionate about helping people make good career choices. I currently work for Saïd Business School at the University of Oxford. Follow me on LinkedIn, Twitter and drop me some ideas/feedback via email.

Popular

Keep up with thred by signing up to our planet-positive newsletter!

More from thred.

Work and school found to be central to Gen Z happiness
Credit: Thred
UpSkill

Work and school found to be central to Gen Z happiness

A new survey has found that professional and educational fulfilment are a driving force behind Gen Z’s happiness levels. But they’re still statistically the ‘least happy’ generation overall.  A new poll has revealed the primary source of happiness for Gen Z. The answer may surprise you. According to Gallup, at least 60% of Gen Zers are said to feel happy when they do something interesting every day and are ‘motivated...

By Brighton, UK
Question – What types of careers are available in advertising?
Credit: Thred
The Career Coach

Question – What types of careers are available in advertising?

Wondering how an advertising agency works? Our career coach gives a rundown on the ins and outs of agency life, with specifics on each type of role you can expect. Question: How many different career paths are around in advertising? I like the idea of working at an agency, but I don’t know what to aim for or what degree I should apply for? (Aimée, Cardiff) Navigating the advertising industry's...

By Oxford, UK
Spotify testing freemium e-learning video courses
Credit: Spotify Courses
UpSkill

Spotify testing freemium e-learning video courses

E-learning video courses are Spotify’s next offering as the service pushes for better subscriber retention and growth. Third parties like Skillshare and BBC Maestro are on board and a freemium model will generate new revenue – if people take to the idea. Remember when Spotify was purely a music streaming service? Those days are well and truly done. Diversifying business is the name of the game for Daniel Ek and co....

By London, UK
New study suggests Gen Z are welcoming ‘post-truth media age’
Credit: Thred
UpSkill

New study suggests Gen Z are welcoming ‘post-truth media age’

A large study into the UK’s media habits has found that Gen Z are less interested in traditional news outlets and more likely to opt for social media platforms, despite trusting their content less. Gen Zers are less likely to use traditional media outlets such as BBC News and The Guardian over TikTok, Instagram, and other social media platforms, a new study has found. In fact, young people are shunning...

By London, UK
Accessibility