Graduate Degrees What Earning

If you are one of those people considering earning a master’s degree, then you obviously belong to those camps that are convinced that a master’s degree will soon replace the bachelor’s as a staple degree.  And you may be right: According to the Council of Graduate Schools and the Educational Testing Service, the amount of jobs requiring a master's degree will increase by about 22 percent between 2010 and 2020. The obvious implication of this assertion is very evident: master's degree holders will be needed to fill the growing number of in-demand jobs in coming years(Moton, 2013). Having premised this, I will now present 4 careers where earning a master's degree may be worth the effort.

Career One: Financial Analyst

As a financial analysts you will be helping businesses and people make sound investment decisions as well as in assessing stock performance. In addition, you will also help inexperienced stock investors to  keep their eyes on economic trends, and so on. Hence, while it's true that a bachelor's could be sufficient for entry-level positions in this occupation, most employers often require  a master's degree in finance or master's in business administration (MBA).  Having a masters degree in these areas will be an opportunity to learn much more challenging aspects of finance, such as  figuring out budgets, making investment decisions under uncertainty, and so on. The bottom line: you will need a masters degree if you want to become a senior financial analyst for a big firm.

Median Annual Wage: $75,650 
Average Annual Wage for Workers in the 90th Percentile: $145,580
Average Annual Wage for Workers in the 10th Percentile: $46,300

Career Two: Medical and Health Services Manager

The main work of medical and health services managers is to ensure that the delivery of health care services runs efficiently. These professionals can be found at hospitals and other types of health care facilities. The truth is that you might want to consider earning your master's in health care administration if this career sounds like a good fit for you. Even though a bachelor's degree can get you in the door, earning a master's degree in health care administration, public health, or related majors might be required to advance into positions with more responsibility and higher salaries. The implication of this is that, without a masters degree, it may be tougher to run the show in this profession. That's mainly because earning a master's degree in health administration could help provide a better understanding of complex laws, regulations, and health care issues(Moton, 2013). As a healthcare manager, earning a master’s degree will also help you to understand things like the importance of confidentiality and how to deal with insurance companies.

Median Annual Wage: $86,400**
Average Annual Wage for Workers in the 90th Percentile: $147,890
Average Annual Wage for Workers in the 10th Percentile: $52,730

Career Three: Career Counselor

As a career counselor you will be responsible for  mentoring  others as they make important decisions about their professional lives. Broadly speaking, career counselors typically need masters degrees. A graduate degree is needed for this job because, especially for the starters, a master's degree in school counseling (or a related field) is generally required for you to work as a career counselor in most states. In addition, while getting the master’s degree program in these areas, you will learn how to counsel people and what approach to take. The master's also  gives you the extra skills and research you need on different approaches to counseling(Moton, 2013)

Median Annual Wage: $54,130
Average Annual Wage for Workers in the 90th Percentile: $87,020
Average Annual Wage for Workers in the 10th Percentile: $32,130

Career Four: Public Relations Manager

The essence of public relations is  image. Given that image is everything in this career, your job is making sure the public sees your client or your organization often - and always in a favorable light. If this sound like your dream  career then you may want to consider getting your master's. Here are other reasons why a master’s degree is important for this profession:  A 2011 study presented at the Annual Meeting of the Public Relations Society of America Foundation showed that a master's degree also opened doors to those seeking research-based positions at public relations firms. In addition, the U.S. Department of Labor reported  that work experience over several years, combined with a master's degree, could help improve chances of managers advancing into positions as directors in upper-level management(Moton, 2013).

Median Annual Wage: $93,310
Average Annual Wage for Workers in the 90th Percentile: $176,400
Average Annual Wage for Workers in the 10th Percentile: $50,360

References

Moton T.(2013): How a Master's Degree Can Help Your Career. Retrieved February 24, 2013 from http://education.yahoo.net/articles/how_a_masters_degree_can_help_your_career.htm?kid=1NYCW