“You’re hired” is a phrase that has become rare these days. Even with an undergraduate degree under your belt, job opportunities are simply not appearing like they used to. If you’ve ever thought of pursuing a master’s degree, now may be the best time to do so. But understand that having a master’s degree does not necessarily open doors to more job opportunities. You must be carrying the right title for the right industry, otherwise you risk burying yourself in thousands of dollars’ worth of tuition debt. To avoid this, consider one of these five master’s degrees that pay for themselves in the long run.
[Find college scholarships to help fund your master’s degree.]
1. Graphic Design
Many people think artistic ability is something you’re born with, and not something you can be taught at school. But when it comes to making a living from imagination and creativity as a graphic designer, extensive educational background won’t hurt your chances of getting into the space more quickly and with more lucrative offers. A 4-year degree holder in graphic design can expect to earn somewhere around $42,000. Meanwhile, a master’s degree holder can expect to earn 19 percent more than an undergraduate degree holder every year just by putting in the extra school years.
2. Business Management
If you’re currently a business manager and you’re interested in propelling your career into the higher ranks of management, a master’s degree may yield the job title of General Manager in less time. Managers carrying an undergraduate degree make an average of $80,000 a year. Those with a master’s degree can expect to take home 18 percent more than that per year.
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3. Software Engineering
You simply cannot ignore the tech space if you’re looking for today’s highest paid industries. Staff software engineers with a 4-year degree can pull in $80,000 per year while having the same title plus an extra two years in school can put you at the $100,000 bracket. Over time, the two-year course should pay for itself.
4. Electrical Engineering
Electrical equipment, from navigation systems to power generators, have become vital components of our lives. With the ever-increasing demand for engineers, having an online Master’s of Engineering Management degree will make you more qualified than other job applicants. The median salary for an electrical engineer is at $89,000. But someone with a master’s degree can earn more than $100,000.
5. Database Administration
As databases continue to grow quickly and massively, more and more companies are starting to need better trained and educated administrators to handle the overwhelming quantity of data and the ever-changing infrastructures they are housed in. With a master’s degree, you can earn up to $96,000 over an entry level position.
While they may cost extra money, time, and effort, undergrads who pursue their master’s degree will have the competitive edge to secure a job, regardless of the economic situation.