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Fact or Fiction? A Master's Degree Is the Key to Career Success

There's a lot of debate these days surrounding master's degrees. Some say a master's is the "new bachelor's degree" for career professionals, especially those looking to advance. Others may view a master's as little more than an expensive piece of paper.

A master's degree is the best bet for professionals who want to move to a new level in their career, or enter a field where a specific set of skills is required. For some careers, a master's is essential, or at least strongly desired.

In terms of financial and time management, online education can offer great benefits. Costs are generally lower for a quality education, and you can study on your own schedule. Go to CollegeGrad to research the right career path and suitable education program to meet your needs: http://www.collegegrad.com/careers/, MBA Programs and http://www.collegegrad.com/education/masters-degrees/.

Below are some master's degrees that will look great on any professional resume, as well as basic information regarding the degree and careers you might pursue with it.

An MBA Makes Business Sense

Business school can be a smart idea for financial careers. Earning an MBA may seriously boost your earning potential and impress potential employers.

How long can the master's degree program last?

Usually 2 to 3 years, post-bachelor's. It all depends on the intensity of study--i.e., someone who attends school full-time will probably complete the program faster than someone who takes courses only on evenings and weekends.

What are the advantages for long-term career growth?

The benefits can be almost limitless for business professionals. An MBA is the top business degree. What you learn with your MBA, when combined with your experience in the field, can take you to the top realms of the business world.

Are there any drawbacks to earning this degree?

In terms of time and money, online degree programs can limit the pinch on your wallet and take some of the strain off your schedule. Overall, if business is your field of choice, there are few foreseeable drawbacks to earning an MBA.

What careers might I pursue with my MBA, and what are some average salaries?

According to the U.S. Bureau of Labor Statistics (BLS), the following business-related careers made these mean annual salaries as of May 2008:

  • Financial Managers: $110,640
  • Personal Financial Advisors: $92,970
  • Chief Executive Officer (CEO): $160,440

Tech-Talk: Become a Master of Technology

For technology and computer fields, a graduate degree can also mean career advancement and higher salaries. Combining technical proficiency with management skills is a main focus of many technology master's programs.

What are some popular technology-related master's programs?

Information Technology (IT), Technology Management, Management Information Systems (MIS), and Information Security are just a handful of areas you could specialize in.

What kinds of jobs might I pursue with a master's in computer technology?Listed below are some of the best computer technology jobs in the field today, and mean annual salary statistics for those careers as of May 2008, from the BLS:

  • Network Systems and Data Communications Analyst: $73,830
  • Computer Systems Analyst: $78,830
  • Computer Software Engineers (Systems Software): $94,520

Consider Your Options

Although business and computer technology are highlighted here, there are many exciting professions where a master's degree can be of real benefit, so consider the pros and cons and go after the education that will lead to your career success.

Want to get a better idea of what you can do after you earn that master's degree? Check out CollegeGrad's top-hiring employers at http://www.collegegrad.com/topemployers/2009_master.php, or view our job board for more hiring companies http://jobs.collegegrad.com/.

Sources:

Chief Executive, Occupational Employment and Wages, May 2008 • May 04, 2009 • http://www.bls.gov • http://www.bls.gov/oes/current/oes111011.htm • Bureau of Labor Statistics

Computer Software Engineers, Systems Software, Occupational Employment and Wages, May 2008 • May 04, 2009 • http://www.bls.gov • http://www.bls.gov/oes/current/oes151032.htm • Bureau of Labor Statistics

Computer Systems Analysts, Occupational Employment and Wages, May 2008 • May 04, 2009 • http://www.bls.gov • http://www.bls.gov/oes/current/oes151051.htm • Bureau of Labor Statistics

Financial Managers, Occupational Employment and Wages, May 2008 • May 04, 2009 • http://www.bls.gov • http://www.bls.gov/oes/current/oes113031.htm • Bureau of Labor Statistics

Network Systems and Data Communications Analysts, Occupational Employment and Wages, May 2008 • May 04, 2009 • http://www.bls.gov • http://www.bls.gov/oes/current/oes151081.htm • Bureau of Labor Statistics

Personal Financial Advisor • May 04, 2009 • http://www.bls.gov • http://www.bls.gov/oes/current/oes113031.htm • Bureau of Labor Statistics

University of South Florida, College of Business - Frequently Asked Questions • 0000-00-00 • http://www.coba.usf.edu • http://www.coba.usf.edu/Programs/mba/FAQprospective.htm • University of South Florida