While many individuals pursue a master’s degree as a step towards career advancement, it may not be the best option for everyone.
Unfortunately, not everyone can afford to pursue a master’s degree.
Some students may be able to afford it without taking out loans, while others may need to rely on grants, scholarships, or student finance.
Therefore, students who opt to earn a master’s degree may incur substantial debt that can affect their financial stability in the future.
Lack of career advancement opportunities
Some careers benefit more from a master’s degree than others, and some may even be unnecessary for those who don’t have one.
There are some fields where practical experience and training in the field are prioritised over academic credentials.
For instance, to work as a biomedical scientist, you may only need to complete a biomedical science portfolio, however, to become a public health specialist, making £88k+ you will certainly need a master’s in public health.
That’s why it’s a good idea to look into one’s chosen field and see if a master’s degree is truly necessary for success.
Limited job opportunities
As described above, a master’s degree may be necessary for some careers but not for others.
However, in some rare cases, a master’s degree may potentially impact job applications negatively.
This is because certain positions may be perceived by employers as requiring a lower level of qualification than you possess – as is the case when graduates apply to apprenticeships at a lower level.
In addition, a master’s degree without work experience may not be as attractive to some employers as a bachelor’s degree plus relevant work experience.
As a result, it is critical to investigate the labour market to learn if a master’s degree is required to compete for the position you desire.
Please leave a comment or post a student voice if you would like some further information or guidance on this!
A master’s degree programme is very time intensive. It takes at least two years to finish most programmes.
Students pursuing a master’s degree should be prepared to juggle a number of commitments, including work and family, with their studies.
Bear in mind it is incredibly tricky to maintain full-time work while in full-time study, so it is likely you will be very financially dependent on student loans or friends and family.
This means that some people just won’t be able to devote the time necessary to complete a master’s degree programme.
Especially when peers are in full-time education or preparing to buy their first home!
Last but not least, not everyone values academic advancement to the master’s level.
While some people might choose to dedicate their time and energy to work or family, others might rather spend their time on a passion project.
For some, it is downright the wrong decision, and a waste of time, but for others, it may be the necessary qualification needed to secure your ideal job.
A person’s decision to pursue a master’s degree should be based on their own values and aspirations.
In summary, a master’s degree isn’t necessarily the best choice for everyone, but it can be a worthwhile investment for some.
If a student is debating whether or not to pursue a master’s degree, they should first take into account their financial situation, career goals, job market, time commitments, and personal preferences before making such a big commitment.
As always, if you need any advice or career-specific guidance, leave a comment or post a student voice.
Explore for yourself the world of non-traditional yet lucrative career options that could secure your path to financial success!