Should I Get an Advanced Degree? Four Questions to Ask Yourself

Pursuing an advanced degree can be a life-changing decision that opens up new career opportunities and personal growth. But what is an advanced degree, and how do you know if it's the right choice for you? An advanced degree, such as a master's or doctorate, is a higher level of education that goes beyond a bachelor's degree and provides specialized knowledge and skills in a particular field. Before embarking on the journey to earn an advanced degree, it's important to carefully consider your motivations, goals, and resources.

An advanced degree is a postgraduate academic degree that provides specialized knowledge and skills in a particular field, going beyond the level of a bachelor's degree. Students can pursue advanced degrees after completing their undergraduate studies, which typically take one to two years for a master's degree and several years for a doctoral degree. There are several common types of advanced degrees.

A master’s degree is a postgraduate degree that provides advanced education in a specific field, preparing students for specialized careers or further study. Here is a breakdown of common master’s degrees, highlighting the differences between each and who they are best suited for:

A doctoral degree is the highest level of academic degree, requiring several years of study beyond a bachelor's degree. It provides advanced education and training in a particular field, preparing students for careers in academia, research, or other specialized fields. Each of these doctoral degrees offers specialized education and training, tailored to different career paths and professional aspirations:

A professional degree is a graduate degree that prepares students for careers in specific professions, such as law, medicine, or veterinary medicine. These degrees require several years of study beyond a bachelor's degree and include extensive practical training in addition to academic coursework. Common professional degrees include Juris Doctor (JD), Doctor of Medicine (MD), and Doctor of Veterinary Medicine (DVM).

The Benefits of Choosing an Advanced Degree

Pursuing an advanced degree offers numerous benefits that can significantly impact your career and personal growth. One of the primary advantages is the opportunity to gain specialized knowledge and skills in your chosen field. This in-depth expertise can open doors to new career opportunities and increase your chances of securing higher-level positions.

Moreover, earning an advanced degree can lead to a substantial boost in your earning potential. Studies show that individuals with master's degrees typically earn 21% more than those with only bachelor's degrees. This increased income can greatly improve your quality of life and provide financial stability.

In addition to financial benefits, an advanced degree can enhance your reputation and credibility within your industry. Employers often view candidates with advanced degrees as low-risk, high-yield employees who possess the necessary skills and expertise to drive positive results.

Some feel they need to pursue an advanced degree right after completing their previous degree.  Others prefer to gain some work experience before deciding on additional higher education. When determining if graduate or doctorate school is right for you, ask yourself these four questions as part of your decision-making process:

1. Why Do I Want an Advanced Degree?

First, take time to understand your motivations for pursuing an advanced degree. Is it required for the career you are pursuing? Are there financial-related reasons? Motivations are different for everyone, but having a clear understanding of yours will help determine if it is the right path for you.

If you’re thinking about additional education because you don’t know what you want to do with your future or because you’re avoiding the job market, take some time for internal reflection first. Gaining additional education may be just the thing to help discover your career and life passions, but doing a little bit of career exploration can help to confirm your decision to pursue your career path and provide any needed motivation. Here are some ideas to help you feel more confident about your continuing education choices:

2. Will an Advanced Degree Help Get Me Where I Want to Go?

Having a clear vision of how your advanced degree links to your goals is important. It will not only make the work worthwhile but will also temper the challenging moments that you are bound to encounter along the way.

Think about this as far out into the future as you can — are there increased professional prospects and options that you may be given down the road? Maybe the idea of teaching part-time at the local junior college when you retire sounds good to you. Consider how an advanced degree would not only play into your current goals but may also fit into some longer life goals as well.

3. Is It Financially Worth It to Me?

Earning an advanced degree can be expensive and having one is not a guarantee for a higher salary. Keep in mind that education alone doesn’t guarantee that you’ll find a job or make a set amount of money. Earnings and employment vary by occupation, industry, geographic location, and experience, among other factors.

Do you plan to work while going to school? If not, consider the length of time you will be in school and the level of salary you will not earn during that time. What salary increase do you expect once you are complete? Consider the cost of the degree and how long it will take to recoup those costs. In your calculations, remember to compound the difference throughout a lifetime, taking into account the potential for steeper pay increases and other financial rewards that come with advanced degrees.

Perhaps your employer is paying your tuition or you have a grant that will cover the cost. Regardless of your financial situation, do your research and understand the financial benefits and implications specific to you. A great place to start your research is the Occupational Outlook Handbook.

4. What Are My Alternatives?

Once you have a good grasp on your goals and motivation, consider if there are alternatives to an advanced degree. Depending on your chosen field, determine whether a certificate or credential might be a better option. Some careers require work experience in addition to education so you may want to consider gaining some experience before pursuing an advanced degree.

Considering a career boost but don't have time for a full-fledged master's degree? A graduate certificate might be the perfect fit! These focused programs offer specialized training in a particular area, ideal for professionals looking to enhance their skill set or switch gears within their field. They're a fantastic option for busy individuals as they can be completed in a shorter timeframe and often require fewer credits than a master's degree.

The concentrated coursework involved with graduate certificates allows for deep dives into specific topics, making them perfect for acquiring in-demand abilities. And the good news? Many graduate certificate programs allow you to transfer those credits towards a related master's degree down the line, should you decide to pursue further education. A graduate certificate can be a stepping stone to a higher qualification or simply a smart way to gain that extra edge in today's competitive job market.

Pursue an Advanced Degree at UMass Global

UMass Global offers a wide range of advanced degree programs. With 17 master's degree programs and 31 concentrations, you can specialize your education in fields such as business, counseling, psychology, social work, leadership, education, teaching, and more. Find a program that's right for you and advance your career with a tailored graduate education.

UMass Global’s School of Extended Education also provides a wealth of professional development courses, certifications, certificates, and seminars that will keep you current and relevant in your field. There are programs in the fields of business, health & wellness, leadership, education, sciences, and technology.