Difference between having a Masters and a Bachelors Degree, from a hiring perspective?
Favorite Answer
It used to be that only “professional” degrees were available at the masters level or above, such as law, medicine, engineering, psychology and architecture. These fields still demand a minimum of a master’s level or better to get past entry level types of positions.
There is research that those with Masters tend to earn on average 24% better than Bachelors over the course of a career.
Many academic positions even in administration will require a Masters. Most CEO’s have some post bachelor degree education if not a Masters.
If you want to advance in your career, and/or start at a higher level, then a Masters will aid that greatly. However, don’t expect it to be a gateway to a top position in a company.
You will start likely in a position, that you may feel is slightly beneath you. Companies want their employees to learn the culture of the firm, which, and through it how to fulfill it’s goals and perpetuate success through proven methods. Companies also want new ideas. It’s a tricky balance.
This doesn’t mean that a MA should accept a secretary position for 22,000 annually. This may mean being the Assistant of the director specializing in one of several of the many minutia of the department. Companies want potential leaders than understand teamwork. They want to know that you understand the responsibilities of leadership with the flexiblity to take direction from your superiors. You’ll make a lot more money with a Masters.
Don’t forget to look into a certification of your chosen field. Certificatations are acquired usually through professional socieities, and are administered either through correspondence or through a University. A certification with a Bachelors is better than just a bachelors. This combo is somewhat rare. Most certifications usually are acquired after someone attains a Masters.
A masters definitely translates to more money. Ambition is up to you.
The problem with Master is that you would be overqualified for work due to your education, and underqualified for work at the same time due to your lack of experience. At least this is so in the business world. Since you’re asking about Money, I assume this is the route you’re going. (If you’re going into academia, Master could very well have immediate payoff. Also, if you’re going into research, Master could have immediate payoff as a demostration of intellect.)
Anyway, Masters can make a huge difference in pay, but only if it fits with your story. Most hiring manager is not impress with someone, when they ask “I see you went ahead and got your Master, why?” and you answer “no reasons. thought I could get more money.” While that’s the honest answer, it seems just a bit shallow.
The beauty of working first is that you can be certain what field you really want to build a career in. At that time, you can use your Masters to switch field, if need to. Or just to get more specialized.
But at the end of the day, if you have the right mix of experience, a Master can easily double your salary.