Online Graduate Degrees
SALARY
What exactly is a Master's Degree? To answer that question, one must ask: What does a Master's do for my career? They are the ladders, catalysts and bridges of the work world. Whether you're hoping for a higher-level promotion, for intellectual fuel to a craft gone stagnant, or more and better connections to professionals in your industry, a Master's is for you. Unlike the Bachelor's degree, which is designed to get your foot into an entry-level door, by design a Master's means "more."
More adults today need more education to get more out of a competitive job market. They face layoffs, economic turbulence and job insecurity, hence the expression "today's bachelor's degree is yesterday's master's degree." Indeed, in the United States more than twice as many Master's degrees are awarded today than in the 1970s. Even newer are online Master's degrees, which you can earn from the comfort of home or on the go. With so many new online programs sprouting all over the Web, you must be sure you're sifting the weeds from the gems. As in all important life decisions, it's a good idea to consult a good information source. Also, think long-term: Will you someday want to earn an accredited doctorate degree to follow up a Master's degree?
It's no secret that an advanced degree equals bigger bucks. A master's degree can net you $1.3 million more in lifetime earnings than a diploma, according to a recent U.S. Census Bureau report titled "The Big Payoff: Educational Attainment and Synthetic Estimates of Work-Life Earnings." Also, on average high school graduates earn $1.2 million; those with a bachelor's degree, $2.1 million; and people with a master's degree, $2.5 million. Persons with doctoral degrees earn an average of $3.4 million during their working life, while those with professional degrees do best at $4.4 million.
What are today's most Master-worthy careers? Number crunching is a great career investment, with accountants and auditors earning an average of $65,840. So is a Master's in Psychology, which surpasses the undergraduate degree both in job prospects and income (counselor jobs are expected to grow 21 percent throughout 2016, and school counselors earn an average of $53,540). Lastly, while you're pondering a return to school, a Master's in Education is a perfect transition to a job at the postsecondary level. With an average salary of $92,920 Education administrators almost crack the 6-digit ceiling.
