What Percent Have Graduate Degrees?

What Percent Have Graduate Degrees Have you ever wondered how many Americans have an advantage in becoming employed by having a graduate degree? Or whether or not those degrees are actually worth the amount they put the student debt? Believe it or not, the value of the Master’s degree is often debated. You’d think that a higher degree would be an automatic pay off. Not so. Turns out that this economic climate doesn’t necessarily favor people with Master’s degrees. I’ve witnessed this personally with many of my friends who have ended up getting mediocre positions that they’re overqualified for. More often than not their bosses don’t even have a Master’s degree. What Percent Have Graduate Degrees This isn’t always the case, of course. There are certain Master’s degrees that are extremely valuable to those who hold them. Let’s break it all down. Roughly 9.5% of Americans over the age of 25 have Master’s Degrees. So, 1 out of 10 people. Mas o menos. Typically, a Master’s degree will help earn an individual $8,000 a year more than their Bachelor’s Degree counterpart. It seems as though a Master’s is valuable then, no? You have an edge over 90% of the rest of the country and about a 15% pay bump. Not exactly. A Master’s degree is only valuable if: – It specifies the individual’s work/interest/experience. This is particularly true when the BA was a broad degree. – It doesn’t put the individual in a great deal of debt. A Master’s degree is less likely to pay itself off if you’re 50k + in the hole. – It was acquired at a reputed school. – It isn’t in the liberal arts field. Turns out that the only Master’s degrees that are super valuable are really in medicine or law. Well, Master’s in  business, science and engineering also are worthwhile. Otherwise, the Master’s degree doesn’t seem to be as valuable you’d think. There are a lot of factors in play when it comes to figuring out whether or not a Master’s degree would improve your financial situation. Especially now that the economy doesn’t seem like it’ll be rising from the gutter any time soon, you might be wondering if you should just spend your time unemployed getting a Master’s degree. I found this enlightening article written by Mark C. Taylor from Columbia University. He writes: “As a lifelong educator, I believe more education is always a good thing, but buyers must beware. The debt crisis isn’t limited to governments and universities but extends to students and their families. Far too many students come out of college with substantial debts that plague them for years.” So, you must ask yourself whether or not the degree will pay off the debt in time to earn substantially more than you would with just a BA to really be worth its weight. He continues to say: “I have had far too many students over the years who have gotten masters and even doctorates who find themselves in debt big time, unemployed and forced to start all over again in their mid-30′s.” Taylor also says that there are many universities that treat their graduate programs like “cash cows”. Easy money for them and the professor’s often do little work. So, if you’d like to join the 9.5% who have Master’s degrees, make sure you do your research wisely before taking the plunge. Related: What Percent Pay Income Taxes What Percent Have Graduate Degrees What Percent Have Graduate Degrees Related Posts B Highest Paying College Degrees 2011 Graduate College With Zero Debt How Much is a College Degree Worth?

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What Percent Have Graduate Degrees?