If you are in the final year of your undergraduate degree, you might find yourself swamped with options and career paths that you wish to choose for yourself. It also might get overwhelming, which is understandable. Deciding to enroll in a Master’s Program, or whether you should enroll at all, is a big decision. It is not as if higher education is cheap in any country.
To help you decide, you must consider some things before selecting your path. If you enrolled in a specific Bachelor’s program, see if you want to pursue a career in the same field. Do your research and find out the scope and branches in your current field of study. Then, decide which specific career path you want to follow and what you will need to thrive in it.
Even if you are unsure but passionate about something and want to excel, going for an MBA is a safe option. You can select your specialized program in the field of your interest. Research to find out the core courses and specialized courses offered by the program. Sometimes, the method of instruction in different institutions vary. Therefore, finding out the delivery method can also be very effective and extremely productive in developing your specialized skills.
Apart from this, you can also help yourself develop personal and professional workplace skills and make industry connections.
The biggest advantage of enrolling in a postgraduate program is increased job prospects. Secondly, it will set you apart from the crowd, since you are more qualified than the other candidates applying for the same job. Your career prospects will boost at a much higher rate, as the label of a master’s degree itself will open doors for you.
Alternatively, suppose you are already doing a job in a company and want to get a promotion, a salary raise, or want to take on a leadership role. In that case, you can enroll in an online MBA program while keeping your current job.
The graduate market is saturated and fiercely competitive, especially for fresh graduates. Unfortunately, when the economy hits a dip, it affects the fresh graduates starting their careers. Since hiring is an investment for an organization, it would cut its losses during an economic downturn. During this stage, it is likely to hire a postgraduate who already has the necessary skills to help uplift the company during a bad economic condition. Leadership organizations always seek new talent with energy and full of new ideas to bring on board to help them execute novel strategies.
Pursuing your postgraduate degree while working in your current role will give you an added benefit and an edge. The courses taught in your online MBA program will equip you with the management and leadership skills you need to prove yourself. Flaunting your newly learned skills and knowledge will set you apart from others.
According to Higher Education Statistics Agency, only 59% of undergraduates got jobs fresh out of college, compared to 66% of postgraduates hired in various companies.
Be prepared to get returns for all your hard work, credit hours, presentations, and hours of studying and conducting research projects. Graduating with a postgraduate degree has many advantages; a higher pay would certainly be the first thing to expect. According to Sutton Trust, a postgraduate can expect to earn £5,500 (US$7,845) more than a Bachelor’s degree holder. Even if this increase is constant, the total earnings amount to £220,000 (US$313,770) over 40 years of working.
Additionally, the annual premium amounts to $16,500 (£10,300) or around $700,000 (£400,000) over a full working life. Due to intense competition and an increase in demand of postgraduates, combined with a large inflow of women postgraduates and equal rights, organizations raised their bar and hence, salaries of their postgraduate employees holding senior managerial positions in the company.
Undergraduates with a debt of £40,000 enrolled in postgraduate programs receive a further £20,000 in addition to their current pay to cover the debts and living costs yearly. As the demands and expectations of organizations and the global economy grow, the government also funds and supports educational institutions and students in debt by offering loans and government-sponsored programs to help uplift the country’s educational standard in the US and UK.
Earning a postgraduate degree does require a clear sense of career path, hard work, and a financial dip. However, it is equally rewarding. Looking back, you would have no regrets about passing an opportunity. Even though it is never too late to learn and upgrade skills for career development, earning a higher education degree early on gives an edge in the market head-on, making it easier to run towards success rather than walk towards it. Additionally, if you want to pursue a doctorate, aka Ph.D., you must first have a master’s degree. You cannot get into a Ph.D. without a valid master’s degree from a good institution.
Either way, having a higher degree under your belt would earn you respect in your professional and social circle and boost confidence to encourage you further to thrive in your career. Some people also go for a master’s or postgraduate degree to love their field and passion for studies. This enrollment is a good thing since they would better grasp their subject and concepts clearer.
Later on, when they start working in that field, their work will reflect that love and passion. Some people who love reading books about a certain topic include university coursebooks. If their interest is piqued enough, they end up enrolling in a higher-level course. This course gives them an edge due to their acquired taste. Therefore, an online MBA or any other postgraduate executive degree is a win-win for you in all the possible scenarios.