A master’s degree is an academic degree awarded by a college or university upon completion of a specific course of study. Students obtain a Master’s Degree to further their studies in a specialized field and to gain highly developed skills in analysis and critical thinking. Also known as a second-cycle academic degree, a Master’s Degree usually precedes a Doctorate or Ph.D.
On average, full-time workers with a Master’s Degree can potentially earn $25,000 more per year compared to all workers, according to the Bureau of Labor Statistics.
Professional development, cultivating more expertise in your field of study, and potentially earning a salary increase, are a among the reasons many students consider earning a masters degree. In some occupations you are likely to need a Master’s Degree in your field to qualify for entry-level jobs. According to the Bureau of Labor Statistics, a master’s degree may not be required but having one might lead to advancement or higher pay. Another reason to earn a Master’s degree is that it usually required for those continuing education at the Doctoral level.
Most master degree programs require 1-2 years of study, depending on the program type and enrollment. This may entail completing around 36 to 54 semester credits or 60 to 90 quarter semester credits; equivalent to about 12 to 18 graduate-level courses. Of course, program lengths and course requirements vary by school and type of Master’s Degree Program. A bachelor’s degree is typically required to apply into a Master Degree program, although some programs offer a combined bachelor’s to master’s program.
How Much Does A Master’s Degree Cost?
According to Sallie Mae, the average cost of a master’s degree was $24,812 for 2016-2017 full-time students. However, earning a Master’s degree can vary in cost based on several factors such as in state residency, out of state residency, online, blended or accelerated programs. Learn more about how much a Master’s degree might cost here
. Many graduate schools charge a cost per credit hour instead of charging a flat fee for tuition. This unit price reflects the number of classroom hours per week throughout a term. Usually it’s 3 credits per course, and around 30 to 36 credits to earn a master’s degree. Learn more about average cost per credit hour for a master’s degree
What is the Best Master’s Degree To Get?
The best master’s degree to get depends completely on your goals. For many it may be to increase your salary or to gain more skills in a specific area. Below are the most popular in terms of degrees awarded by subject.
Top 7 Master Degree Majors (according to the NCES by graduate degrees granted in 2015-2016)
Popular Master’s Degree Programs in Philadelphia
Masters of Science Degree
The Master of Science, or MS degree, is a type of masters degree that is typically awarded in the sciences, technology, engineering, medicine and mathematical subjects such as computer science and analytics. Generally, an M.S. degree takes 2 years of full time study and requires a thesis or research project. Admission to M.S. programs is usually contingent on the applicant having previously obtained their Bachelor’s degree which is often a Bachelor of Science.
Master of Arts Degree
The Master of Arts, or MA degree, is a type of graduate degree which includes all arts and humanities disciplines as well as some social sciences. The M.A. degree is typically awarded in English, history, communication studies, international relations, international business administration, humanities, philosophy, and social sciences. Generally, an MA degree takes 2 years of full-time study for a non-thesis program, and longer for a thesis option; the Master of Arts (M.A.) may either be entirely course-based, entirely research-based or a combination. Admission to M.A. programs is usually contingent on the applicant having previously obtained their Bachelor’s degree which is often a Bachelor of Arts.
Master of Fine Arts Degree
The Master of Fine Arts, or MFA degree, is a graduate degree that usually requires 2 to 3 years of postgraduate study after a Bachelor’s degree (Bachelor of Fine Arts). Unlike the Master of Arts, the M.F.A. centers around practice in a particular discipline and is recognized as a terminal degree in visual arts, design, dance, photography, theater, and creative writing.
Master of Business Administration Degrees
The Master of Business Administration, or MBA degree, is a master’s degree in business administration (management) that actually originated in the U.S. as a scientific approach to management; it is both a terminal degree and a professional degree. Core topics in MBA programs
commonly cover accounting, finance, marketing, human resources, operations.
The Professional Science Master, or PSM degree, is a graduate degree intended to allow students to pursue advance training in science or mathematics at the same time as developing workplace skills. PSM programs tend to be interdisciplinary, can take about 2 years of full time study, and usually involve an internship. Often, you can find the PSM degree in forensic science, computational chemistry, applied mathematics and bioinformatics programs (STEM fields).
BY THE NUMBERS In 2015–16, over half of the 786,000 master’s degrees conferred were concentrated in three fields of study: business (187,000 degrees), education (146,000 degrees), and health professions and related programs (110,000 degrees).ii
Try a MicroMasters Program
MicroMasters programs are a set of masters-level online courses that help you earn professional credentials and valuable university credits. Now you can test drive a MicroMasters Program for Free! Browse MicroMasters Programs
now. Some popular types of master degree programs are Master of Science (MS Degree), Master of Arts (MA Degree), Master of Fine Arts (MFA Degree), and Master of Business Administration (MBA Degree). The type of master degree awarded may depend on the school, program focus and area of study.
What Master’s Degree Degree Should You Get?
Use our subject selection filter at the top of this page or start with the list below to find some of the most awarded degrees (by subject). You will find accredited M.A., M.S., M.F.A., M.B.A., P.S.M. and other specific master degree programs with the help of our subject selection and sponsored program listings. The broad list of masters degree programs include the following subjects:
DID YOU KNOW? Securities, commodities and financial service agents workers who had a masters degree earned nearly 90% higher wages than workers with a Bachelor’s degree.i
Potential Features of Masters Degree Programs
The basic premise behind earning a Master’s degree is that the student has achieved a “high-order overview” of their academic discipline. This could involve the following.
- Advanced knowledge of a specialized body of theoretical and practical topics
- Highly developed skills in analysis and critical thinking
- Understanding of professional application of their subject matter
- Ability to solve complex problems
- Independent thinking
While Masters programs vary in scope, these capabilities might be achieved through rigorous coursework, a thesis paper or final project, an internship or supervised practicum, exams and case studies.
DID YOU KNOW? If you are a professional and can’t take time off to earn a traditional master’s degree, a MicroMasters program may be an accessible and affordable option.
How to Choose a Masters Program
- Consider that your Master’s degree should reflect your professional career needs as well as targeting your academic goals.
- Remember your M’s: MS, MA, MEd, MBA, MFA, PSM, and whether you are excited to study on campus or need the convenience of online.
- Read these helpful articles to help you navigate subjects like accreditation and applications.
- Finally, always reach out to the graduate school for full program details, especially because there are deadlines and you want to stay ahead of the class as you master your field of study!
Can I Get My Master’s Degree Online?
Yes! There are many online master degree programs
available! You can often choose between a campus and online masters program format as well as low residency formats which are mostly online but require some in-person attendance. In some cases, especially for human centered and medical fields, your options for online degrees may be limited, however a hybrid or low residency choice may be offered.
Top States for Employment for Managers, All Other
|State||Employment||Annual Mean Wage|
|District of Columbia||20,010||$135,970|
Bureau of Labor Statistics
Top Salary Metro Areas in the United States: Managers, All Other
|Metro Area||Annual Mean Salary||Employment|
|San Jose-Sunnyvale-Santa Clara, CA||$148,700||4,200|
|San Francisco-Oakland-Hayward, CA||$147,270||11,980|
|California-Lexington Park, MD||$145,620||490|
Bureau of Labor Statistics
Top 296 Graduate Schools with Masters – 8 Programs in Philadelphia