Blog » Top 5 Pros and Cons of a Master’s Degree

Top 5 Pros and Cons of a Master’s Degree

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When you’ve just undertaken an undergraduate degree, you might be wondering – should I do a postgraduate degree? No matter what subject you’re interested in, whether it’s an online masters in health care administration, marketing or another type of master’s degree, it can be hard to decide if it’s the right path to take.

Which is why it’s so helpful to consider the possible pros and cons of a master’s degree. To get this process kick-started, here are 5 of the key advantages and disadvantages, that can help you decide whether a master’s degree is the way to go:

Pros:

Expanding Your Knowledge

By taking on a master’s degree, you’ll be able to expand your knowledge in your chosen subject. Helping to advance your skills in the field, it will look very attractive on your CV.

Employability

Following on from the above, it’s clear that a master’s degree will put you in a better position when it comes time to apply for a job – similarly to if you take on an internship. Of course, certain industries will require you to have a postgraduate degree in order to be considered for a job – such as a doctor or a vet.

But for the industries that don’t consider a postgraduate degree as an essential, it will give you an invaluable employability boost and help to advance your career.

Standing you out from the crowd of applicants, it showcases how you’ve taken the time to gain more knowledge and skills within the industry before applying for jobs.

Higher Paid Roles

After completing a master’s degree, you’ll be more likely to achieve a higher salary when it comes time to apply for roles. As you have that extra qualification that many don’t, employers tend to pay more.

Considered to be more suitable for more senior roles, you’ll have more opportunity to grow within the employment ladder.

Cons:

The Cost

Unfortunately, master’s degrees tend to be expensive. Varying by subject and length, they can set you back anywhere between £8,000 and £10,000. Even though there are loans that you can apply for, you’ll still need to consider the amount you’ll have to pay back (once you’ve reached the repayment threshold) and how much you’ll need in terms of living costs. This is one of the key reasons why so many students are put off by a postgraduate degree.

The Impact on Your Social Life

A postgraduate degree isn’t easy. A big step to take, you’ll have to spend a lot of your time on your studies. This impact on your social life can be quite negative, as you’ll have a lot less time to go out and socialise with friends. Although this depends on the subject and the amount of work you have, it’s something to consider when applying for a master’s degree.

However, as a master’s degree only tends to be 12 months or less, it’s not a lot of time that you’re missing out on – so this might not be an issue for everyone.

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