Anina
Will pursing a Masters, Professional, or Doctorates degree guarantee job security? Does it matter what you get the graduate degree in?
Hi! My name is Anina and I'm a high school senior interning at CareerVillage. I've started talking to my friends and classmates about graduate school, and the costs/benefits of getting a higher degree. In your opinion, do the benefits outweigh the costs? Does having a higher degree give you some form of job stability, as I've heard? And if so, does it matter what you get the degree in? #college #graduate-school #higher-education
6 answers
NATASHA WATERS, M.Ed.
NATASHA’s Answer
Hello Anina,
It is good to hear that you are looking ahead. A career journey can be quite tricky and for some careers there is not a straight path that leads to success. I'm a lover of learning but learning does cost money. If there is a way that you can go to graduate school for free or at a reduced cost, then it will be a matter of finding the program that is right for you without worrying about the costs. There are scholarships, fellowships, teaching assistantships, and some companies will pay for your graduate degree if they think it is useful for their business and employees. If it is not free, be sure to do your research and make sure the graduate degree is necessary for your career and that it will substantially increase your pay so that you can support yourself and pay for school.
A graduate degree does not always mean that you will get a higher position or better paying job or job stability. Sometimes a graduate degree isn't required for a particular job. There may be a certification or license that you need instead. You can also get a Bachelor's degree in one area and get a graduate degree in a totally different area like I did. I have a BBA in Finance and a M. Ed in Higher Education. I wanted to be sure that I made the right decision before investing in another degree, so I waited 10 years to get a Masters! If you hear or see a person that is in a position or career that you aspire to have one day, don't be afraid to ask that person what they had to accomplish to get there. People love talking about themselves!
Heather Martin
Heather’s Answer
Anina, it looks like you've gotten some great answers so far! It's important to remember that different fields handle higher degrees differently. In some fields, higher degrees will help you advance. However, there are several fields that would prefer you to have industry-specific certifications over higher degrees. To reiterate what Dr. K. said, don't ignore that ROI. Be sure that you know what you'll be getting out of the degree before you start it. Another thing to be cautious of is making sure you have the experience to back up your degree. In some fields, an advanced degree will mean a higher salary. However, if you have that advanced degree but not a lot of time in the workforce, you might be less likely to be hired since you'll be more expensive than someone else with the same amount of experience. As the previous two answers said, an advanced degree won't necessarily guarantee job security, but it could open more doors for you.
I hope this helps. Best wishes on your journey!
Kevin N. Shriner
Kevin N.’s Answer
Hi Anina,
This is a great question. I personally don't feel any degree provides job security BUT a degree does provide job opportunities. Let me clarify that statement a little. A report by The Pew Charitable Trusts found that during the most recent recession the employment rate for four-year college graduates only decreased 7% compared to high school graduates that decreased 16%. This reflects that individuals with a bachelor's degree were more likely to remain employed or find employment compared to individuals without a bachelor's degree. So while job security is not a guarantee, the ability to rebound in a recession or find a job may be heightened by having a degree.
The second part of your question is a different response. I am a firm believer in following your passion. If your passion does not require an advanced degree, then don't pursue it. If you want an advanced degree then choose one you can relate to. Don't get an advanced degree just to have a degree. Also, weigh the return on investment (ROI) of an advanced degree. In some professions the advanced degree may not provide you more income over time than the degree cost you.
I hope this answer helps you in your education journey. Best of luck!!
Dr. K.
Thank you for the practical advice Dr. K!
Deana
Very well said! Definitely consider the ROI
Yolonda Bueford
THANK YOU SO MUCH FOR YOUR KIND WISHES
Hajira
thank you for your advice,it is very useful
janani
Blake H.
Blake’s Answer
Troy Golba
Troy’s Answer
Hi Arina,
That is a solid question, it most definitely helps depending on what career field you are pursuing. Being that many careers require that and some strongly encourage that. So it truly makes a difference on what path you are interested in but overall it usually helps quite a bit and the benefit from it alone is pretty high. But I do understand your question in terms of practicality.
My best! :)
Troy
James Constantine Frangos
James Constantine’s Answer
Does a Graduate Degree Ensure Stability in Employment?
The issue of whether a Master's, Professional, or Doctorate degree assures job security is multifaceted and intricate. Although higher education can boost job opportunities and possibly lead to more job stability, it doesn't guarantee employment or job market security. Here are some important aspects to consider when assessing the link between graduate degrees and job security.
1. Labor Market Dynamics: The need for advanced degrees varies greatly across different fields and industries. For example, careers in healthcare (like nursing or pharmacy), engineering, and technology often require advanced degrees and usually provide robust job security due to the high demand for skilled professionals. On the other hand, areas like humanities or social sciences may not have the same demand for advanced degrees, which can impact job security.
2. Economic Climate: Broader economic conditions also influence job security. During economic slumps, even those with advanced degrees might struggle to find work. Industries that usually employ graduates with advanced degrees may go through layoffs or hiring freezes during recessions.
3. Importance of Specialization: The specific study area within a graduate program plays a vital role in determining job security. Degrees in high-demand areas like data science, cybersecurity, or healthcare management are more likely to result in stable employment compared to degrees in less specialized areas where competition might be stiffer.
4. Emphasis on Skills: Employers are increasingly prioritizing skills and experience over formal education credentials. Many sectors prioritize practical skills, internships, and relevant work experience when hiring. Thus, while a graduate degree can boost your qualifications, it's crucial to pair it with relevant skills and experiences.
5. Networking Opportunities: Graduate programs often offer valuable networking opportunities that can lead to job placements or career advancements. Building relationships with faculty, alumni, and industry professionals can significantly influence your career path.
6. Financial Factors: Pursuing an advanced degree involves a significant financial commitment—tuition costs can be high—and potential student debt should be weighed against expected post-graduation salary increases. In some instances, the return on investment (ROI) might not justify the costs if the degree doesn't lead to higher-paying jobs.
7. Job Satisfaction vs Job Security: It's crucial to distinguish between job satisfaction and job security. Some people pursue graduate degrees out of a passion for their field rather than just for financial gain or stability; this pursuit can lead to rewarding careers even if they don't assure absolute job security.
In summary, while a Master's, Professional, or Doctorate degree can boost employability and potentially improve job stability in certain areas, it doesn't universally guarantee job security across all sectors or disciplines. The decision should be based on individual career goals, interest in specific study fields, market demand for those fields, financial implications of further education, and personal circumstances.
Top 3 Reliable Sources Used in Answering this Question
1. Bureau of Labor Statistics (BLS)
The BLS offers extensive data on employment trends across various industries, including information on educational requirements for different jobs and future labor market demand projections.
2. National Center for Education Statistics (NCES)
NCES provides detailed statistics on postsecondary education, including trends in graduate program enrollment and post-graduation employment outcomes.
3. Georgetown University Center on Education and the Workforce (CEW)
CEW researches the connection between education levels and workforce outcomes, offering insights into how different degrees affect earnings potential and employment stability across various fields.
Probability that the answer is correct: 95%
Blessings to you!
JC.
Delete Comment
Flag Comment