What Are the Benefits of a Master's Degree?

by Jon Faranda

Overview

Earning a master's or professional degree can significantly increase you career prospects and earning potential, but post-graduate degrees may not be worth the cost and time commitment for everyone.
What Are the Benefits of a Master's Degree?

Features

Obtaining a master's degree allows students to receive a specialized education in their field, without the general education requirements of a typical bachelor's degree.
Teaching

Pursuing a master's degree in your field may allow you to teach the subject in community colleges or four-year universities, depending on your field of study.
Effects

People with master's or professional degrees can earn up to $30,000 more per year than those with a bachelor's degree, according to data from the U.S. Census Bureau.
Types

There are typically three types of master's degrees: the Master of Arts, Master of Fine Arts and the Master of Science degrees.
Considerations

While a master's degree is usually very beneficial for careers in law or medicine, a person pursuing a degree in a field that values experience, such as journalism or fine arts, may not see significant benefits.