Author Topic: Quick Poll - Was your Masters Degree worth it?  (Read 11843 times)

deek

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Quick Poll - Was your Masters Degree worth it?
« on: January 24, 2018, 05:12:56 PM »
I'm 26 and really struggling with whether or not to pursue more school (only if paid for by a company or through an assistantship).

It would very likely be an MBA on a Marketing track, or a Masters in Urban and Regional Planning.

Would you do it again? Or if you didn't get one, are you happy with that decision?
« Last Edit: January 24, 2018, 05:19:58 PM by dj »

BeautifulDay

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #1 on: January 24, 2018, 05:49:35 PM »
Mine opened doors at work.  Helped me get my foot in the door and within a couple years my salary doubled.  Salary increase paid for my schooling in 1-2 years. So, I'd say mine was worth it.  But if I had to do over, I'd choose a more specific course.  Mine is a masters of public administration. MBA, but for non-profit/government sector.  The MPA I think is too general.  Doing a marketing track would help make it more valuable.

mm1970

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #2 on: January 24, 2018, 05:55:20 PM »
Mine opened doors at work.  Helped me get my foot in the door and within a couple years my salary doubled.  Salary increase paid for my schooling in 1-2 years. So, I'd say mine was worth it.  But if I had to do over, I'd choose a more specific course.  Mine is a masters of public administration. MBA, but for non-profit/government sector.  The MPA I think is too general.  Doing a marketing track would help make it more valuable.

Pretty much this.  I did it because I didn't know what I'd be doing when I got out of the Navy.

It got me a job when one of my companies went out of business.  Hiring manager was impressed that I went nights while working full time during the day.

Blackeagle

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #3 on: January 24, 2018, 05:56:03 PM »
What sort of field are you in now?  Because given the two very different master's degrees you listed this sounds less like a "should I get a master's degree?" question and more like "should I change careers?"

deek

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #4 on: January 24, 2018, 06:40:35 PM »
What sort of field are you in now?  Because given the two very different master's degrees you listed this sounds less like a "should I get a master's degree?" question and more like "should I change careers?"

Long story short, I majored in PR and Comms and the most enjoyable business class for me was marketing because I could use my own creativity. I gained a strong interest for conservation and sustainability after college. I worked a shitty corporate job from Oct 2014 to March 2016. That’s when I moved to Oregon to work temporarily to experience something different and get out of Iowa. It didn’t pay great, but I had awesome experiences.

Fast forward to now, I’ve been at a retail flooring company for 6 months and this job was a result of being desperate for a job after getting home from Oregon. It’s mind numbing and i’m not going to be a flooring salesman. It’s easy, but the company is terrible with communication and organization. I’m ready to do something that engages me and lets me be a little creative (writing/photography.. etc). It’s tough to find something like that paying more than $16 an hour.

aceyou

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #5 on: January 24, 2018, 06:47:45 PM »
yes

Blackeagle

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #6 on: January 24, 2018, 07:02:28 PM »
What sort of field are you in now?  Because given the two very different master's degrees you listed this sounds less like a "should I get a master's degree?" question and more like "should I change careers?"

Long story short, I majored in PR and Comms and the most enjoyable business class for me was marketing because I could use my own creativity. I gained a strong interest for conservation and sustainability after college. I worked a shitty corporate job from Oct 2014 to March 2016. That’s when I moved to Oregon to work temporarily to experience something different and get out of Iowa. It didn’t pay great, but I had awesome experiences.

Fast forward to now, I’ve been at a retail flooring company for 6 months and this job was a result of being desperate for a job after getting home from Oregon. It’s mind numbing and i’m not going to be a flooring salesman. It’s easy, but the company is terrible with communication and organization. I’m ready to do something that engages me and lets me be a little creative (writing/photography.. etc). It’s tough to find something like that paying more than $16 an hour.

In that case you're in a pretty different situation from a lot of folks who are considering getting a master's degree to get ahead in their current line of work.  That means this is not entirely a financial decision; you have to consider the value that you would get out of getting out of your current job and getting into one that you like better.

A couple of things to consider:

How much would a master's degree cost?  Take a look at programs in the areas you're interested in at colleges you might want to attend.  See what financial aid might be available, what the prospects are of getting an assistantship are, etc.

How much do the do the fields you're considering pay?  This is one where I can offer some concrete info rather than just posing questions.  I'm a transportation planner working for a Metropolitan Planning Organization and at least on the transportation side of things, planners fresh out of master's programs tend to earn in the $40-50k range. 

Finally, are there any jobs you can get with your current degree that you would enjoy much more than what you're doing now?  In other words, is the master's degree the only path to a career that you would enjoy more, or are there other options?  If you were set on a particular field this would be less of an issue, but since you seem to be considering a variety of options it's worth considering if there are any that don't involve getting another degree.

Sarah Saverdink

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #7 on: January 24, 2018, 07:14:46 PM »
I earned my Masters Degree while working full-time because my employer paid for the entire thing. It was a lot of work attending school part-time, while still working 40+ hours/week, but I think it helped advance my career more quickly. I was young and had more energy for late nights of studying back then :) Longer-term, I know a Masters Degree is an unwritten requirement for many higher level positions within my company.

deek

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #8 on: January 24, 2018, 07:17:07 PM »
What sort of field are you in now?  Because given the two very different master's degrees you listed this sounds less like a "should I get a master's degree?" question and more like "should I change careers?"

Long story short, I majored in PR and Comms and the most enjoyable business class for me was marketing because I could use my own creativity. I gained a strong interest for conservation and sustainability after college. I worked a shitty corporate job from Oct 2014 to March 2016. That’s when I moved to Oregon to work temporarily to experience something different and get out of Iowa. It didn’t pay great, but I had awesome experiences.

Fast forward to now, I’ve been at a retail flooring company for 6 months and this job was a result of being desperate for a job after getting home from Oregon. It’s mind numbing and i’m not going to be a flooring salesman. It’s easy, but the company is terrible with communication and organization. I’m ready to do something that engages me and lets me be a little creative (writing/photography.. etc). It’s tough to find something like that paying more than $16 an hour.

In that case you're in a pretty different situation from a lot of folks who are considering getting a master's degree to get ahead in their current line of work.  That means this is not entirely a financial decision; you have to consider the value that you would get out of getting out of your current job and getting into one that you like better.

A couple of things to consider:

How much would a master's degree cost?  Take a look at programs in the areas you're interested in at colleges you might want to attend.  See what financial aid might be available, what the prospects are of getting an assistantship are, etc.

How much do the do the fields you're considering pay?  This is one where I can offer some concrete info rather than just posing questions.  I'm a transportation planner working for a Metropolitan Planning Organization and at least on the transportation side of things, planners fresh out of master's programs tend to earn in the $40-50k range. 

Finally, are there any jobs you can get with your current degree that you would enjoy much more than what you're doing now?  In other words, is the master's degree the only path to a career that you would enjoy more, or are there other options?  If you were set on a particular field this would be less of an issue, but since you seem to be considering a variety of options it's worth considering if there are any that don't involve getting another degree.

There are definitely other jobs I would enjoy more. It might be smartest to find something I'm more interested in before pursuing more education. I just feel like I'm between a rock and a hard place sometimes as far as being interested in work goes. The most enjoyment I've had out of work so far is working outdoors. I like coming up with new ideas though. I'm just frustrated feeling like I'm not making any progress at 26.

Tobias

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #9 on: January 25, 2018, 08:59:12 AM »
Yes, I am glad I got an MA, and wish I would have stopped before getting a PhD. 

I have an MA in English, and I taught freshman English in my grad program so I got practical work experience and got my degree paid for.  I wanted to be a community college professor, and should have probably just gone straight into that instead of going on to get a PhD, or gotten a community college job and worked on my PhD at the same time.  Luckily, I got my PhD in 5 years and didn't have to pay for it, but I could have started my career many years sooner. 

BTDretire

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #10 on: January 25, 2018, 09:17:31 AM »
 I hope it adds value, I just paid the last $6,267, for my daughters online Masters degree. (I hope)
Admittedly this was a fill in before the time for Dental school applications to be accepted or rejected.
 Just something more to make her stand out.
 So far. one rejection, one you're on the standby list, and one no answer.

Warlord1986

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #11 on: January 25, 2018, 09:31:04 AM »
Mine opened doors at work.  Helped me get my foot in the door and within a couple years my salary doubled.  Salary increase paid for my schooling in 1-2 years. So, I'd say mine was worth it.  But if I had to do over, I'd choose a more specific course.  Mine is a masters of public administration. MBA, but for non-profit/government sector.  The MPA I think is too general.  Doing a marketing track would help make it more valuable.

Same. My MPA opened a few doors, but it really is general.

For the record, I worked for three years as a City/County Planner and I hated the work (and the work environment).

NorthernBlitz

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #12 on: January 25, 2018, 09:49:54 AM »
For me it was worth it. My MS, led to my PhD, which led to a Professorship...I'll tell you if that was worth it after my tenure decision next year. (EDIT: My degrees are in Mechanical Engineering, so hopefully I'm employable even if academia doesn't work out)

My wife is an Engineer with an MBA. It's a powerful combination. But, she was the only MBA in the entering class of management training program she entered at Pepsi (i.e. someone tagged as highly promotable). That arguably means that the degree wasn't necessary for the position she got. I've often heard her say that she thinks it wasn't especially useful for her career. That being said, she got her MBA in Canada in a program that let her do it in 1 year after a double major in Engineering / Commerce. That means that the cost was 1 year of Canadian MBA tuition + 1 year of time. That's significantly less than some others pay for an MBA.
« Last Edit: January 26, 2018, 07:26:41 AM by NorthernBlitz »

rab-bit

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #13 on: January 25, 2018, 09:58:19 AM »
Yes, I am glad I got an MA, and wish I would have stopped before getting a PhD. 

Mechanical engineer here, and I agree with this - M.S. was definitely worth it, Ph.D. probably not so much, but I have worked in industry for my entire career. For those in academia, it's obviously a different story.
« Last Edit: January 25, 2018, 10:00:54 AM by rab »

Acastus

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #14 on: January 25, 2018, 10:03:30 AM »
Absolutely, yes. I have a BS in Chemical Engineering and a MS in Plastics Engineering. The MS is fairly unique in the polymer world. Only Lowell and maybe Penn State have this degree. I started work at the research park of a barely Fortune 500 company, and I really liked doing the development part of R&D. There was a solid glass ceiling there. You were either a PhD or not. High school diploma or masters was simply other. You were a lab monkey. That is not the case at every other company I worked for, but an MS give you a pass to better jobs than a BS. Also, I enjoy working with polymers more than basic chemicals, so having a plastics degree is pretty useful.

nereo

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #15 on: January 25, 2018, 10:04:58 AM »
Yes, my MSc was "worth it", as it led to a job in my field (which I would not have gotten without it) and also led to my PhD.

My advice would be to take a close look at the jobs that you want and determine whether a master's degree will be necessary in the near future.  Some fields you need an MSc just to be granted an interview, and PhD is preferred.  Others... not so much; experience counts far more than degrees.

ysette9

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #16 on: January 25, 2018, 10:07:54 AM »
I did one in engineering and my company paid for it. Absolutely it was worth it, though I can’t point to any specific pay bump that is solely attributed to the degree. I recognized early on though that the vast majority of people being promoted to director, VP, program manager, etc. had master’s degrees. It made sense to have that if I could get it on someone else’s dime and at a time early in my career when I didn’t have other life obligations. If you are going to do it I highly recommmend you get it out of the way now. School is tough and life just keeps getting more complex and demanding as you age.

TornWonder

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #17 on: January 25, 2018, 10:09:43 AM »
I went straight from undergrad to grad school.  Finance undergrad, Masters in Financial Engineering (1.5 years).  Got offered $50k-$60k with bachelor's, $80k-105k with master's.  So yes, absolutely worth it.

Noodle

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #18 on: January 25, 2018, 11:26:08 AM »
Yes, totally...although I did make a deal with myself that given the low salaries in the field I wanted to get into, I couldn't take out loans for graduate school. (Ended up with one assistantship and one fellowship...I have TWO master's!)

I wouldn't have the job I have now without it.

I'm a red panda

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #19 on: January 25, 2018, 11:41:49 AM »
Yes.

I paid for my M.Ed out of pocket.  The year after I finished I switched jobs to a different company (but essentially same position).  My salary increase was just about equal to the cost of the degree. They would not have hired me without a master's degree.

RedmondStash

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #20 on: January 25, 2018, 11:53:10 AM »
Mine was, but I got it 25+ years ago, and I had a research assistanceship and tuition waiver. Education has gotten a lot more expensive since then.

I don't think it has concrete measurable value in job interviews or salary, but it does win me more respect than I'd otherwise get, which can make my life a little easier.

Sisyphus

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #21 on: January 25, 2018, 11:55:29 AM »
It wasn't worth it for me but the blame is all mine.  Even with company reimbursement, I spent over 35K for a MS in Internet technology. I should have switched jobs to leverage the degree but I was too complacent. 

Xlar

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #22 on: January 25, 2018, 12:44:35 PM »
Definitely.

I got mine right after my B.S., both my B.S. and M.S. are in Engineering. My first job paid 30% more than the highest pay of any of my friends that stopped with just a B.S.

I should also note that I had a paid research assistant/teachers assistant job during my M.S. that both paid my tuition and covered all my expenses. A good rule of thumb I have come across is: If your M.S. is worth getting someone else will be will be willing to pay you to get it. If it isn't worth getting they will not!
« Last Edit: January 25, 2018, 12:46:27 PM by Xlar »

deek

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #23 on: January 25, 2018, 12:52:31 PM »
Definitely.

I got mine right after my B.S., both my B.S. and M.S. are in Engineering. My first job paid 30% more than the highest pay of any of my friends that stopped with just a B.S.

I should also note that I had a paid research assistant/teachers assistant job during my M.S. that both paid my tuition and covered all my expenses. A good rule of thumb I have come across is: If your M.S. is worth getting someone else will be will be willing to pay you to get it. If it isn't worth getting they will not!

Noted. Honestly I think the MBA is my best bet to get bumped and more respected professionally. But both the Marketing and Business Analytics tracks I'm looking at are part time for working people. Assistantships are not provided in that case.

Roboturner

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #24 on: January 25, 2018, 01:05:18 PM »
MBAs are a dime a dozen. They don't mean a whole lot unless you can leverage it in conjunction with your current occupation. Consider an MBA after you are established in a career and want to pursue a management track. Otherwise I don't suggest wasting your time.

I got a MS in engineering after a BullS BS :P. It was the best decision I could possibly think of - Engineering/hard science grad students are often funded as well - which is not the case for MBAs. If you are going to spend more money and time in school - make sure there is a market for what you want to do. My brother also got a 'BullS' degree, but rather than take the Masters track in a worth-while field as I did, he took a short course (6mos 9-5) school in coding, took it seriously, and now has a high paying job in less than 1/4 of the time.

Whatever you do, make sure you take it seriously, otherwise youll find yourself a couple years older, a few more k in debt and in the same position.

toganet

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #25 on: January 25, 2018, 01:53:39 PM »
Mine made a big impact, in the same way others have mentioned -- it opened the door to better job opportunities, and enabled me to move up much faster due to the knowledge I had gained, and probably due to being taken a little more seriously.

My one regret is the specific degree I got (MA in Informatics).  While I was able to complete the degree quickly, and acquired the skills I needed, it's not recognizable enough in the long run vs. other options.  So, I'm actually considering another master's, possibly an MBA -- but I like school :)

Laserjet3051

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #26 on: January 25, 2018, 01:56:38 PM »
Cant answer your specific question but will add that I dont think my (STEM) PhD was worth it; knowing what I now know, a MS would have been a far superior path for me. YMMV

Blissful Biker

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #27 on: January 25, 2018, 02:06:01 PM »
When I was a young whipper snapper I was a "high pot" at a large firm and in a formal mentoring program.  I asked my mentor if there would be value in getting an MBA and his advice was that there would be no harm in it, but a strong resume of delivering successful projects would be far more valuable.  So I worked hard at work, enjoyed riding bikes on evenings and weekends and steadily rose up in the company.

I now make double the average MBA salary (upon graduation) and have a few MBA's working for me.  Good folks with good skills but there doesn't seem to be anything magical about having a masters.  A masters might help open doors to the C-suite, but I am not going to be working long enough to get there in either case!

No regrets for me.  Good luck.  If you decide to do it, enjoy it for the love of learning as well as any career benefits.

Indyfella317

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #28 on: January 25, 2018, 02:13:38 PM »
Yes. Company paid for half and I was told early on if you want to advance an MBA is the course.

I tell everyone to find a company that has tuition reimbursement, best route.

Duke_of_Kent

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #29 on: January 25, 2018, 02:56:59 PM »
The answer is very specific to not only your particular industry but also the company/organization that you work for and your role there.

I joke that, with "only" a B.S., I am the slacker of my family in which my parents, all aunts and uncles, and all cousins have gone on to at least a masters degree.  But we are all in different industries with different roles.  Some fields absolutely require the advanced degree.  Others have separate payscales dependent upon education level.  In those cases, it's absolutely worthwhile -- especially if your employer pays for your tuition.

I am an engineer.  My university offered a 5-year B.S. Eng / MBA program, and I inquired about it to my academic advisor.  Interestingly, he actively discouraged me from enrolling in the program, saying that if an MBA would be beneficial once I'm in the industry, then my employer will pay for it -- no need for the extra year.  Sure enough, my employer (like most in the engineering industry) has a very generous education program that would pay for advanced degrees related to my job.  I considered pursuing an MBA or an engineering masters program shortly after I took the job, mostly due to family pressure.  I couldn't find any concrete examples of the benefits of a masters degree for my career path.  To this day, I have not pursued any additional degrees, and my career has not suffered as a result -- in fact, I'm doing quite well and am happy with the opportunities I've had.

Ultimately, it's a question of cost/benefit analysis.  If your employer pays for your tuition, then that's a big advantage in the "plus" column.  As for the benefit side of the equation, you'll want to find specific examples -- not just nebulous "opening doors" but rather specific career paths that require the degree as a prerequisite or different degree-dependent payscales.

PhrugalPhan

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #30 on: January 25, 2018, 03:28:37 PM »
F-Yes.  I didn't have anyone funding me, and was going to take out as few loans as possible, so I took the "vow of poverty" and worked part time and got it done in 2 years.   Even with a BA I was stuck in $35k jobs in the 90s.  After the MS in '95 my first job was $36k, but within 3 years I was up over $60k, and salary has been rising ever since (I'm in 6 figures now).

Calvawt

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #31 on: January 25, 2018, 03:30:39 PM »
My MBA in finance/management was definitely worth it.  It was a big part of getting a CFO position.  Without it, I couldn't be an executive (a CPA could substitute, though).

spokey doke

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #32 on: January 26, 2018, 09:24:47 AM »
M.S. in Environmental Studies and a M.A. in Philosophy qualified me to be a waiter, barista, and prep cook...TOTALLY WORTH IT!!!

...oh...AND a number of volunteer positions at non-profits...
« Last Edit: January 26, 2018, 09:26:34 AM by spokey doke »

simonsez

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #33 on: January 26, 2018, 01:05:36 PM »
Mine was.  I wouldn't have gotten my current job without it.

Now, if I was a few years older or younger I would've been able to have my job with a Bachelor's.  In that case it definitely would not have been worth it since I would've been equal to where I would've come in with a Master's after one year (and that's one year of earning rather than paying to get a Master's).

goalphish2002

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #34 on: January 26, 2018, 01:19:59 PM »
I have a master's, and it did help me.  However, I already had work experience and did this part-time while working full time.  Be careful about getting another degree (even if it is higher education) with no experience in the field.  You will still have to break through and get an entry-level job without experience.   

I would probably lean toward finding an internship or entry-level job in a field of your interest first. 

- You may find that you enjoy it
- Your employer might pay for your graduate degree
- You might find that certifications are more important than a graduate degree, in the field
- You might find out that experience is the MOST important factor in that field
- You might find out you don't like the field and be glad you didn't invest time, energy, and possibly money for the degree

goalphish2002

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #35 on: January 26, 2018, 02:29:48 PM »
I have a B.S. in Consumer Affairs and an M.S. in Accounting.  However, I am a Project Controls Analyst or Cost Engineer.  If I could go back, a Master's in Construction Management or Project Management would have benefited me more; maybe an MBA with a concentration in Project Management.  With that being said, my knowledge of accounting does help me; there is a crossover. 

But, in my field, the PMP certification will carry as much weight, if not more, than any graduate degree. 

I mention this because you never know where you will end up or what you enjoy doing from classes alone.  You are only 26 years old.  I spent years trying to find my "passion."  It caused a lot of needless anxiety and wasted time.  The facts are most people don't have a passion that will translate into work.  And, people's passions change with time.  I have found that the better I become in my field, the more I am paid, which makes me more invested, which in turn makes me more passionate about my work.  Don't miss out on opportunities looking for something that might not manifest. 

***Yes.  There are a few people that "follow their passion," and it turns into fruitful work.  Those people are few and far between. 

Wrecks

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #36 on: January 26, 2018, 03:31:20 PM »
I'm 26 and really struggling with whether or not to pursue more school (only if paid for by a company or through an assistantship).

It would very likely be an MBA on a Marketing track, or a Masters in Urban and Regional Planning.

Would you do it again? Or if you didn't get one, are you happy with that decision?

In a technical field, a master's degree is often, but not always, worth it.

For marketing--it depends on where you're going to get that degree. If you can get into a "name" school like one of the Ivies than it is definitely worth it. Please note that your education will not be much, if at all, better than you'd get elsewhere. However, a degree from a fancy school will open all sorts of doors and you'll be making valuable contacts. Best scenario of all is an Ivy (or Ivy-level) school in a major urban area, so something like Columbia or University of Chicago.

Lance Hiruma

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #37 on: January 26, 2018, 04:00:27 PM »
It is definitely worth it for me. It opened doors as well as advanced my career.

AmyS

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #38 on: January 26, 2018, 04:16:12 PM »
Yep. I have two degrees that I suspect 98 1/2% of folks on here would consider a complete waste of time and money: Bachelor of Music in Voice Performance, and Master of Music with a Vocal Performance Concentration.

Due to that second degree, I completely lucked into a steady job at a university (a ridiculous level of luck, university teaching is so stupidly uncertain that people who teach at universities are mostly referred to as "The Precariat").

If I hadn't had a Master's Degree in my field, I would have had zero chance to go through that particular open door.  The difference to my earnings over the years has been huge.

asauer

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #39 on: January 26, 2018, 07:38:08 PM »
I've been in Talent Development for 15 years.  highly recommend looking at postings for the type of job you want a Masters to help you with.  Do they require a Masters or say Masters preferred?  In that case, it will probably be worth it in terms of compensation trajectory.  If not, then probably not.  Mine was worth it.  I earned my master's in Training and Development which opened up a new level of work and comp for me.

NorCal

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #40 on: January 28, 2018, 08:17:04 AM »
My MBA in finance was worth it, but just barely.  I know several people it was not worth it for.  A couple considerations for why it was worth it for me:

1. I was able to take advantage of the GI Bill, which covered a lot of expenses.
2. I worked while getting an MBA, letting me graduate with much less debt (I still had some, but not much compared to classmates).
3. I was one of the lucky ones that got a job after graduation.  Many of my classmates did not get jobs after graduation.  A decade later, their degree is worthless, they are still paying for it, and they are stuck in dead end jobs.

If I had to do it again, I would honestly look for a route that offers better value for money.  Something along the lines of certification to be a database administrator, or other technical certification.  The long term earning potential is similar, but the up-front investment is MUCH less.

Morning Glory

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #41 on: January 28, 2018, 08:30:42 AM »
Sort of: I have an MSN with education focus. The tuition was covered by employer reimbursement and it allows me to do a fun side-gig teaching clinical for the university. On the other hand it didn't lead to a promotion at my. hospital because nurses with Master's are a dime a dozen here.  I did get a small pay raise for finishing. I did it before having kids so I was able to work full time and do it in my free time. I enjoyed some of my classes but not all of them. I definitely would not have paid money for this degree.

horsepoor

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #42 on: January 28, 2018, 09:13:03 AM »
I'm going to push back/dig in a bit more here:

What exactly were you doing in Oregon?   If you enjoyed working outdoors so much, why did you go back to Iowa?  Why are you thinking that following the MBA or urban planning route will make you happier than selling flooring - maybe it will, but maybe there is a more direct way to change into a more outdoor-focused career track.   

I would encourage you to think a bit more broadly about the possibilities for non-desk jobs, if that is what you really enjoy.  We've been meeting with a lot of contractors lately.  Tree guys charge thousands of dollars a day to climb around/prune cool old trees.   Landscapers can also make a decent living.

These are great questions and points.  And what kind of "Being outdoors" do you like?  Just generally being outside anywhere, or camping in back country or??  If you're just happier being out of an office, maybe you could transition to marketing something else that gets you outside - I'm thinking of the people I worked with when the roof on our rental got wind damage.  It seemed the main guy's job was to drive around and meet clients, show samples of roofing, meet insurance adjusters.  If you like being out in back country, you might look into wildland fire fighting.  With your degree, you might be able to parlay the field experience into a higher-paying position running the fire camps or communications after paying dues out cutting line.  Just some ideas.

Back to your original question, my M.S. was absolutely worth it.  But I landed an assistantship that came with in-state tuition.  My B.S. and M.S. were in the same field, and I was able to pull a much better GPA in grad school than I had on my undergrad, which made my resume more attractive.  I was able to immediately land a permanent Federal position in my field at a higher pay grade than with a B.S., and moved into a senior technical position quite quickly, whereas it's common for people in my field to work seasonal jobs for several years before finding a permanent position.  Very few people at my level have only a B.S., and I make more than I ever expected to when I went into the ecology field, so my earnings since finishing grad school have more than paid for the time spent earning the degree.  The M.S. will also be helpful if I decide to do any consulting after my Federal career is over.  I fully admit that I had a lot of luck on my career path as well, but definitely would not be where I am without the M.S.

WhiteTrashCash

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #43 on: January 28, 2018, 10:11:42 AM »
My Master's Degree was worth it. It cost me a lot of money, but it has made me much more money than the initial cost. I make about three times as much money as I did before I got it.

LWYRUP

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #44 on: January 28, 2018, 10:18:44 AM »

My wife got a master's degree that was probably 95% paid for by her employer.  A year or two later she quit to be a SAHM (probably temporary).  She did hers slowly over four years so that she was never overwhelmed and so we could (almost) maximize the annual stipend.  If she did it over five years it could have been totally free but she wanted to finish it up quicker so we chipped in some out of pocket. 

Net cost -$1,250 or so financially.

Still worth it.  She learned, she gained confidence, she has it on her resume which at the very least won't hurt. 

For someone who is young and energetic and interested in learning, a paid-for masters degree at night can rarely be a bad thing. 

It's a different question if you would need to cut back hours at work, pay for it yourself, sacrifice time with kids, etc.  Then you need to analyze the tradeoffs much more carefully. 

deek

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #45 on: January 28, 2018, 11:05:47 AM »
I'm going to push back/dig in a bit more here:

What exactly were you doing in Oregon?   If you enjoyed working outdoors so much, why did you go back to Iowa?  Why are you thinking that following the MBA or urban planning route will make you happier than selling flooring - maybe it will, but maybe there is a more direct way to change into a more outdoor-focused career track.   

I would encourage you to think a bit more broadly about the possibilities for non-desk jobs, if that is what you really enjoy.  We've been meeting with a lot of contractors lately.  Tree guys charge thousands of dollars a day to climb around/prune cool old trees.   Landscapers can also make a decent living.

In Oregon, I worked for the state golf association running tournaments all over the state. It was a well known internship program in the sports world, but made me realize what I loved about it was not being behind a desk. Sports is not the field I want to go into anymore. The hours to pay ratio is garbage because there's so much supply for people who want to work in sports.

I came back home because it was not paid all that well and I was running out of money (cost of living in and around Portland sucks). I just wanted the experience, and I love golf.

The only thing about working outdoors is that I have an inflammatory disorder that affects my lower back and right SI joint pretty bad at times. The wear and tear factor scares me. But it's also not good for me to sit down all time. It's tough to find that middle ground.

But yes, I will continue to think about it more broadly. I'm going to volunteer with my county's conservation department and maybe that will bring more ideas.

I've actually also thought about being a PV installer for a local solar energy company that has recently expanded into Austin, TX and Chicago markets.
« Last Edit: January 28, 2018, 11:18:40 AM by dj »

cpa cat

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #46 on: January 28, 2018, 01:21:19 PM »
Mine was worthwhile. To become a CPA in my state you need 150 credit hours with specific business and accounting requirements. This is usually done with a 4 year BA in Accounting and a 1 year MAcc. I had an undergrad in Economics instead, so I was missing some of the required classes. I was able to pick them up by stretching my MAcc to 1.5 years. Scholarships and a GTA position paid for about half of it. The degree effectuated a career change for me.

Key to my program being successful was that it had a serious career services department and a 99% hire rate prior to graduation. There's another local university that does more of a non-traditional adult-learning accounting Master's and it's career services is garbage. People in that program have a much more flexible schedule, but a much bumpier ride with finding a job straight out of school. So choice of degree is important, but so is choice of program. Not all MBA programs are created equal.

You should find out these things before applying. A Master's of Urban Planning sounds fun and interesting - but does that program link you with employers who want to hire you? What kinds of jobs will be available? Are they cubicle jobs where you're using a computer to plan?

I think for now, you should try to zero in on "what do I want to be when I grow up" - a Master's program isn't a good move until you're sure where it's going to take you is where you want to be.

Look for jobs in your city's planning department, parks and recreation department, the state extension office, gold-course superintendent's association, etc. Those entry-level positions probably won't pay much, but they will introduce you to what is required to advance in those departments and what kinds of jobs are available.

M2 pilot

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #47 on: January 28, 2018, 07:34:30 PM »
I was a Pharmacist for a national chain when I got a Masters in Health Policy & Administration from one of the very top rated Schools of Public Health in the nation.  After I completed it, my boss hinted that I could get a promotion if I moved 150 miles away to take it.  At that time, my wife's career was taking off so we decided to forgo the move.  Never got another promotion offer. I stayed with that company for a few more years & went to work for another national drug chain.  No one with the new job seemed to even be aware of the degree.
I could've applied for local health department director position a couple of times & if I'd have looked harder I might have found more opportunities, but nothing I found would pay me nearly as much as I was making as a retail Pharmacist.
However, my answer to OP is yes.  I was in my 40s when I completed the degree & had been away from academia for over 20 years.  I really enjoyed earning the degree and was exposed to highly intelligent, motivated classmates.

nessness

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #48 on: January 28, 2018, 08:05:04 PM »
Mine was free, as it was the result of dropping out of a PhD program early. I think it was the right choice - both the choice to get a master's and the choice not to get a PhD.

MrMoneyMullet

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Re: Quick Poll - Was your Masters Degree worth it?
« Reply #49 on: February 01, 2018, 01:51:21 PM »
YES.

Did a full time MBA at a top school, still had to pay almost half of sticker price after GI Bill and scholarships kicked in but it was worth it. I love the educational environment: meeting interesting people, always learning new things. It was like a 2-year sabbatical that more than doubled my annual salary.

It also gave me a breadth of contacts and experiences that should help me with my upcoming escape from the corporate world.