Master’s Degree Or Masters Degree – Over the last 20 years, the number of students earning a master’s degree has more than doubled. More than 42 percent of bachelor’s graduates now earn their master’s degree. This increase in degrees raises serious questions: Is a master’s degree on its way to becoming the new bachelor’s degree?
For example, according to the Bureau of Labor Statistics, graduates with a bachelor’s degree are less than half a percent more likely to find employment than graduates with only a bachelor’s degree. And although a master’s degree comes with an average salary increase of nearly $12,000, the earning benefit varies greatly depending on the field. Data from Payscale.com suggests that master’s degree holders in some fields (such as literature and history) do not increase their income at all. For students in these fields, earning a master’s degree can result in significant debt. A master’s degree is experiencing the greatest boom for students in the natural sciences and engineering.
Master’s Degree Or Masters Degree
Although employment and earnings data do not suggest that a master’s degree prevents bachelor’s degree graduates from finding employment, a master’s degree can provide significant benefits beyond measurable employment data. The main benefit of a master’s degree can help graduates increase their job satisfaction, not their salary. For example, a master’s degree can get an employee a job related to history or literature, while a bachelor’s degree can earn the same salary with work unrelated to their field of study. The job of a worker with a bachelor’s degree will be less satisfying than the job he will do after obtaining a master’s degree. In other words, a master’s degree can provide the same advantage over other applicants and young professionals who already have a bachelor’s degree.
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The sharp rise in master’s degrees suggests that a bachelor’s degree – once a hallmark of intellectuality and achievement – is now losing its relative value. What was once exceptional has become a basic necessity. Despite the additional costs, the growing market for master’s degrees suggests that students value pursuing a master’s degree. The number of master’s degree holders has increased in both recessions and booms, suggesting that this is a generational phenomenon linked to changes in overall educational attainment. While the intellectual benefits of graduate education provide an undeniable appeal, the significant increase in master’s degrees achieved suggests that market-based motivations also play a role. In recent decades, the increasing difficulty of obtaining a high-paying career without a college degree has caused the value of high school degrees and trade schools to decline and created a new need for bachelor’s degrees.
To stand out in the job market, a master’s degree seems like the natural next step. In a job market with an increasing selection of college graduates, employers may prefer candidates with a master’s degree for similar jobs that may previously have required only a bachelor’s degree.
Bachelor’s degrees have long been praised for their ability to lead to significant salary increases compared to high school degrees, and while this is still the case, the relative advantage of bachelor’s degree holders is no longer growing as quickly as in the past. One possible reason for the stagnation is that bachelor’s degree holders are no longer unique: a bachelor’s degree no longer necessarily signals interest in learning or enthusiasm for a course of study.
However, given the benefits it offers workers when looking for work, the decision to pursue a master’s degree comes at a high cost: Of graduates with educational debt, those with a master’s degree had an average of $56,049 for their master’s in 2016 – and graduate degrees, more. rather than doubling the debt of those who only have a bachelor’s degree. And the debt burden is increasing—since 2012, the average debt of a master’s graduate has increased by nearly $5,000.
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While an increase in the number of highly educated Americans is undeniably beneficial, the resulting increase in debt is not, especially when more debt does not necessarily mean higher wages. Large student loans can reduce home ownership and personal savings and have lasting effects. For example, delaying or limiting retirement savings early in life causes college graduates to miss out on years of compounding benefits on retirement investments, which can lead to longer working life.
So what can you do but curse this slippery slope? Participation in quality graduate education programs for the right reasons certainly cannot be encouraged due to the community’s interest in promoting education. Part-time and online master’s programs can reduce opportunity costs for students and give them the opportunity to work at the same time. Greater pressure on universities to reduce costs could also be helpful.
Until these issues are resolved, a master’s degree may not be a practical option for those interested in studying in all fields.
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But systemic change, if any, is likely to come slowly. Until the system changes, prospective students can protect their own interests by carefully weighing the costs and benefits of their desired degree. Students can also find (or request from admissions officers) information about program graduate outcomes, such as the types of jobs graduates typically find. Finally, learning more about student loans and understanding how student loan interest rates arise should be part of a student’s consideration before deciding to take on debt, and students can also take steps to promote their long-term financial well-being, by prioritizing the lower priorities. -Cost programs or programs that provide scholarships and funding.
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Tuition fees remain high, although online master’s programs reached a market share of 30 percent by 2016. A recent City Institute study also found that tuition for master’s degrees is rising faster than for bachelor’s degrees: The cost of a master’s degree has increased by 79 percent over the last 20 years, compared to a 47 percent increase in the cost of a bachelor’s degree . Even the increased costs are not slowing things down. If public attention and frustration do not slow the rapid rise in tuition costs, we hope that universities will restructure their funding streams and ease the burden on graduate students in low-income programs.
Unfortunately, until these issues are resolved, a master’s degree may not be a practical option for prospective students in all fields. As long as tuition costs continue to rise and market benefits remain uncertain or modest, a master’s degree in a particular discipline may result in more financial trouble than it is worth.
Sarah-Jane Lorenzo is a freelance journalist with expertise in education policy. He is currently attending law school at the University of Virginia. Follow him on Twitter at @SJLorenzo.
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We can have a positive influence on university policy, but we need your support. Donate to the Martin Center today. Master’s degree or master’s degree? Even people with one of these degrees may have difficulty with accurate spelling. When you’re trying to write about your degree on a job application, it can be a little stressful if you’re not sure how to write it. Luckily, this guide will walk you through everything you need to know. When we ask the question, “Is it a master’s degree or a master’s degree?” we’re really talking about something called a possessive apostrophe. First, let’s delve a little deeper into this.
A possessive apostrophe is an apostrophe (‘) that we insert into a word to show that something belongs to someone else. Check out some of these examples to see how the possessive apostrophe should be used correctly:
In this case, you need to use a personal pronoun because you are asking whether or not the dog belongs to Natalie or indicating that the car belongs to Dave. Whenever we talk about something that belongs to someone, we are talking about possessions, so we must remember to use personal pronouns.
The question now is: Do we have a master’s degree – or just a master’s degree?
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When someone earns a “master’s” in a particular field of study, they are awarded a degree to show it
Sufficient knowledge to be considered a master. As you can see, we are talking about possession again, so we need to use the apostrophe of possession to clarify this. In short, the correct spelling is “master’s degree” because the person has this degree and the knowledge needed to be considered a master. This is what it should look like in the next sentence:
Since you state that Dave has a master’s degree, you need to include the possessive apostrophe. But remember: owning something doesn’t mean you can physically hold it. It is likely this misunderstanding that causes the confusion about whether a master’s degree or a master’s degree is even necessary.
You can have some things that are not physical. You can have knowledge, personality traits, and beauty – these are all intangible things but you can have or possess them. It works the same as a master’s degree. You have a university degree and have the necessary knowledge to be considered a master in your chosen field
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