Background
After graduation, most individuals do not continue their education to earn more degrees, like master’s and Ph.D. degrees. Most final-year students aim to graduate and earn a living. Most graduates appreciate the need to develop new skills when they enter the labor market or progress in their respective careers. A master’s degree readily comes to mind when that time comes.
The decision drivers
A key concern is deciding on the type of master’s degree to pursue. This concern exists because many graduates work in divergent fields from their undergraduate disciplines. People ask questions like, “Should I pursue a master’s degree in a course related to my undergraduate degree or in a field relevant to my profession?” Making this decision could be a bit of a challenge. Most people proceed to do a master’s degree that is inclined to their current practice. The benefits of this include professional competence and career advancement. Also, there is an opportunity to move to a more prominent firm that offers higher compensation.
There are vital factors to consider when deciding between an MBA and a master’s degree. One is for your long-term career goals. Before selecting a course, evaluate your long-term career goals to ensure the master’s will support these aspirations. An MBA will be relevant for C-suite aspirants and entrepreneurs. On the flip side, individuals who will not be entrepreneurs or take on managerial roles might not consider an MBA vital.
An engineer in a construction company might prefer a master’s degree to an MBA. This choice is based on their desire to acquire the required skills and knowledge to become proficient. Job market conditions also influence the demand for postgraduate degrees. A saturated job market with fewer jobs will foster higher competition for vacancies. This will encourage candidates to secure advanced degrees. The reverse is true for a thriving job market.
Benefits of each degree
A master’s degree helps graduates sharpen their understanding of specialized subject matter. It also helps them hone their skills and be more competent in their chosen field. MBA degrees equip students with managerial skills. While most MBAs do not require students to produce a thesis, master’s degrees usually require a thesis. However, this is not the case in all instances. Some schools have the option of a thesis master’s degree while others do not.
A common thing between a master’s degree and an MBA is that they are both career and professional advancement opportunities. They will help to accelerate your professional ambitions and bring you closer to your career goals.
Conclusion
If you plan to pursue a master’s degree or an MBA, you can review your immediate and long-term career goals and choose the most beneficial one. An MBA could be more expensive and flexible. Master’s degrees are more rigorous, especially those requiring research or a thesis. Whatever your choice, your career is expected to progress to a higher level with a post-graduate degree. While nothing is guaranteed, except death and taxes, advanced degrees add value, as described above. #EMBA27
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