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Demystifying Graduate Degrees: Comparing Master’s vs. Doctorate

You want a graduate degree — to continue exploring your passions, make discoveries or advance your career — but how do you turn that decision into a plan?

It starts with understanding the difference between a master’s and a PhD in your field. They differ in length, intensity, curriculum and career paths, so you’ll also need a clear idea of why you want to pursue a graduate degree to determine which one you should get.

What Is a Master’s Degree?

If you’ve completed your undergraduate degree, it might be time to ask, “What’s next?”

That’s where Master’s degrees can come in.

Whether you want to specialize in a particular area or get advanced skills in your profession, a master’s degree can help you get there in 1-2 years.

The most common types of master's degrees include:

• Master of Arts (MA),
• Master of Science (MS),
• Master of Business Administration (MBA),
• Master of Education (MEd),
• and Master of Fine Arts (MFA). 

What do you learn in a master’s program?

The short answer? A lot.

Master’s degree programs are designed to build on the foundational knowledge gained during your undergraduate studies, and the curriculum focuses on advanced knowledge and skills in a particular field.

Here’s what you can expect to encounter in a master’s program:

Advanced coursework:  Master's programs provide advanced courses that build upon the foundational knowledge gained during your undergraduate studies. These courses delve deeper into specific topics within your field and often explore the latest research and developments. 

Specialization:  One of the primary goals of a master's program is to allow you to specialize in a particular area. Whether pursuing a Master of Arts, Master of Science, or a professional degree like an MBA, you can focus your studies on a specific subfield or concentration within your discipline. 

Research and analysis:   Many master's programs require you to engage in research projects and analytical work. This could involve conducting independent research under the guidance of a faculty advisor or participating in group research projects with fellow students. Through these research experiences, you’ll develop critical thinking and analytical skills, learn how to gather and evaluate relevant data and draw meaningful conclusions.

Practical applications and internships:  Some master's programs incorporate practical training opportunities like internships, practicums, or field experiences; hands-on experiences allow you to apply the knowledge and skills gained in the classroom to real-world settings.

Collaboration and networking:  A Master's program is a rich collaboration and networking environment. Collaborative projects, group discussions, and professional events allow you to exchange ideas and build connections within your field, often leading to long-lasting professional relationships and potential career opportunities.

Thesis project:   Outside of building skills like project management, problem-solving, project management, and effective communication, thesis projects in master's degree programs serve as a cornerstone for building advanced skills, expanding professional networks, and contributing to the body of knowledge in your respective field. 

Why get a master’s degree?

Career advancement: One primary advantage of getting a master’s degree is an edge in the job market. Employers value the specialized knowledge and advanced skills that come with a master’s degree, opening up new and exciting career opportunities.  The cherry on top? Individuals with a master’s degree often earn more than those without an advanced degree — you can take that to the bank, especially if you set yourself up for financial success during your studies. Flexibility: Another aspect to consider is the flexibility that a master’s degree offers. Many programs offer part-time or online options, allowing you to balance your studies with work or other commitments.  This flexibility can be particularly helpful if you’re already established in your career but want to gain additional qualifications.  Growth opportunities: Depending on your field, a master’s degree can be a stepping stone toward a PhD or other doctoral programs. It gives you a solid foundation in research methods and academic rigor — a boon if you want to pursue a career in academia or conduct advanced research.

What is a Doctoral Degree or PhD?

A doctoral degree is a terminal degree — it represents the pinnacle of academic achievement and is the most advanced degree you can attain. Doctoral students want to become authorities in their chosen fields and develop the skills to conduct independent and original research. 

Doctoral programs usually span 3-6 years of full-time study, during which students complete advanced coursework, pass comprehensive examinations, engage in extensive research and ultimately produce a dissertation that contributes new knowledge to the field. 

There are several types of doctoral degrees based on different academic and professional aspirations, including:

• Doctor of Philosophy (PhD),
• Doctor of Education (EdD),
• And Doctor of Psychology (PsyD), among others. 

What do you learn in a doctoral program?

When you successfully defend your dissertation and complete your degree, you also become an expert in your field — but it doesn’t happen overnight. Here's what you can expect to encounter in a doctoral program:

Advanced research: If you’re looking for a hard emphasis on research, a doctoral program is the place to be. Over several years, PhD students engage in extensive research activities — including conducting independent research, producing scholarly publications, and contributing to the knowledge base of their field through original research contributions.

Theoretical and conceptual frameworks:  PhDs are an incredible opportunity to deepen your understanding of theoretical and conceptual frameworks in your field of study. You'll critically analyze existing theories, evaluate their applicability, and develop your theoretical frameworks to advance knowledge and understanding in your chosen area of research.

Advanced methodological training:  Because a dissertation is an original research project, you’ll gain advanced training in research methodologies and data analysis techniques, like designing robust research studies, collecting and analyzing data, and drawing valid and reliable conclusions from your research findings.

Critical thinking and intellectual independence: Both academia and industry employers highly value independent thinkers and workers. Doctoral programs foster critical thinking and intellectual independence by challenging you to evaluate existing research, identify gaps in knowledge, and propose innovative research ideas. Teaching and Mentoring Experience: Being a teacher or mentor is a great opportunity to share your hard-earned knowledge, and universities agree. Doctoral programs often provide opportunities to teach and mentor undergraduate students, develop effective pedagogical skills, and contribute to the academic community.

Dissertation project:  Your dissertation is the culmination of years of hard work within your field. By enrolling in a doctoral program, you’re also given the chance to participate in a significant and original research endeavor that demonstrates the expertise you’ve worked so hard to cultivate.

Why Get a Doctorate?

Having a doctorate doesn’t just open doors; it can kick them down. A doctorate might be right for you if you’re looking for a door to these things:

Expertise and specialization:  Doctoral degrees can be a labor of love. They help you delve deeper into a specific subject area, gaining expertise and specialization.

Research opportunities:  Extensive research training, opportunities for conducting original research, and contributing new knowledge to the academic community — these three things make a doctorate coveted by students, universities, and employers.

Salary potential and career advancement: In some fields, having a doctorate can lead to higher earning potential and increased salary opportunities. According to the U.S. Bureau of Labor Statistics , doctoral degree holders made an average of $1,885 per week in 2020, while master’s degree holders made an average of $1,545 per week.

Contribution to society:  Doctoral research often addresses pressing societal issues, contributing to advancements in technology, healthcare, education, and other areas for the benefit of society — for many students, contributing to the greater good is just as rewarding as career advancement or personal development.

What’s the difference between a dissertation and a thesis?

You might have heard “thesis” and “dissertation” used interchangeably, but they’re not quite the same. Here are the general distinctions to consider:

• A thesis is usually associated with a master's degree program. Students undertake a research project in the final stage of their degree.
• It typically involves conducting original research or analyzing existing research to answer a specific research question.
• The length of a thesis varies based on the field and program requirements, but it’s usually shorter than a dissertation.

Dissertation:

• A dissertation is typically associated with a doctoral degree program. It is an extensive, in-depth research project that marks the culmination of a doctoral program.
• in-depth exploration of a research topic
• comprehensive literature review
• methodology section
• data collection and analysis
• substantive discussion of findings and conclusions.
• Dissertations are usually longer than theses and may take several years to complete.
• Once you’ve completed your dissertation, you participate in a formal defense of the research, where you’ll present your findings to a committee of experts in the field.

Key Differences: Master's vs. PhD

Deciding between master's vs. phd programs.

“Should I get a master’s degree or a PhD?”

Answering that question can be exciting — and a bit intimidating. You must consider long-term career objectives, personal interests, and the time you can commit. Plus, the level of specialization you wish to achieve based on your career path is also a factor. Typically, a PhD is a prerequisite for those aspiring to research careers in academia, while professional roles in various industries may require only a master's degree. 

It’s still worth noting that students have the option of completing a master's degree first and then, based on their experiences and career aspirations, deciding whether to pursue a PhD.

Find the right graduate degree at SMU 

A graduate degree is a big investment, so investing in the right program is important.

SMU offers a diverse array of master's and PhD programs tailored to align with your unique interests and career goals, and personalized support, from the applicant to the graduate, is always available. 

Whether you're interested in pursuing a PhD in Chemistry or are almost finished with your MBA, we can help you find the right advanced degree.

This could just be the beginning of your journey. Get a closer look at applying to graduate programs of your choice with our guide, How to Get a PhD: A Guide to Choosing and Applying to PhD Programs .

Learn More About

Doctoral degrees at SMU, and how you can choose the right program and thrive in it, in our Guide to Getting a PhD.

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Land your dream job, the difference between a masters and a doctorate.

There are a lot of degree types out there. Many fall into one of two camps: doctorates and master’s degrees. Both graduate degrees offer a narrower educational focus than the undergraduate experience. The higher the degree, the longer it takes to earn and the more specialized is its focus. We’re taking a closer look at the master’s and doctorate degrees to highlight differences and help you determine which might be most useful to you.

Master’s Degrees

Master’s degrees are more versatile than doctoral degrees, and have a wide range of professional and academic applications. The most common master’s degrees are Master’s of Arts (M.A.) and Master’s of Science (M.S.) . Additionally, there are three types of master’s programs:

• Research Master’s degrees are typically for academic and applied research disciplines. Examples include a Master’s of Arts in Comparative Literature, and Master’s of Science in Biology. In some fields, earning a research master’s degree without going on to earn a Ph.D. restricts your professional options. Figure out what's best for you and your career trajectory by talking with professors or professionals in your field.
• Professional Master’s degrees prepare candidates for professional work by introducing practical skills and frameworks for understanding issues in their field. These degrees may also qualify a person to practice in their field. Examples include a Master’s of Social Work, Master’s of Architecture, or Master’s of Art in Teaching. Most of the degrees featured at Idealist Grad Fairs are professional master’s degrees supporting careers in the social good sector.
• Terminal Master’s degrees are the highest academic degree in their field. While some master’s degrees may serve as the first step towards a doctorate, others—such as a Master’s of Fine Arts in Creative Writing or a Master’s in Library Science—are as high as you can go for academic accreditation in those fields of study.

Before pursuing a master’s degree, candidates must have already earned a bachelor's degree. Master’s programs take one to three years to complete and consist of advanced-level courses and seminars. In some programs, students go on to research, write, and defend a master’s thesis. In professional master’s programs, the thesis is often replaced by final projects and exams.

Doctoral Degrees

The most common doctorate is the Doctor of Philosophy or PhD. These research doctorates prepare students to contribute to the collective knowledge base of the field and offers a unique opportunity for an individual to conduct intensive and prolonged research on a very particular topic, which often leads to publication. With a PhD, many seek careers as professors and researchers, but may also pursue roles in the nonprofit, public, and private sectors. Additionally, there are professional doctorates like the MD (Medical Doctor), and the JD (Juris Doctor). Before pursuing a doctorate, candidates must have already earned a bachelor's degree and in some cases a master’s depending on the program. Due to the nature of specialization, PhD programs tend to be smaller than master’s programs.

PhD candidates begin by taking courses and exams. They go on to take advanced seminars and complete their requirements by researching, writing, and defending a dissertation. A dissertation is one of the central components of earning the PhD and is a doctoral-level thesis about the candidate’s original research. A doctorate degree may take up to eight years to earn depending on the program, whether the candidate has already completed a master’s degree (or is coming straight from undergraduate), and the amount of time it takes to complete the dissertation.

Dual Degree Programs or Joint Master’s and PhD Programs

If you decide both degree programs sound right for you, there are some programs that offer the option to pursue both degrees at the same time. A dual degree program allows you to double count your earned credits towards the completion of both degrees. You can find more information here .

How to decide which degree is right for you?

Figuring out whether to pursue a master's or PhD will depend on your career field and educational goals. You can learn more about requirements in your field by doing some research or your own as well as networking with colleagues. Reaching out to a mentor in the field or alumni from your preferred program can also help you navigate graduate school decisions. Additionally, speaking with admissions staff at graduate schools can help provide insight into the kinds of graduate programming available. 

It can be tricky to offer general guidance on graduate programs since so much is dependent on the field of study. That said, we wanted to offer examples of how master’s and doctorate degrees can set you up for success. We've selected social work and business as fields to illustrate this:

Social Work

If you want to go to graduate school to study social work, you can study at the master’s level or the PhD level. To determine what is best for you, consider what role you’d like to play in the field of social work. If you’d like to be a social welfare direct service provider or government agency administrator, a master’s program may be most appropriate. If you’d like to become a faculty member at a post-secondary institution, a social welfare research scholar, or a social welfare policy analyst, a Ph.D. program will be a better fit. Outside of academic settings—where a doctorate is required for most faculty positions—a master’s combined with practical work experience may provide ample preparation for a career as a researcher, policy analyst, or mid-level manager.

For business administration, you have the option of a Master’s of Business Administration (MBA), or a Doctorate of Business Administration (DBA). If your long term goal is to take on a leadership role in a nonprofit or business enterprise, the MBA (or nonprofit management degree) may be best. If instead, you’re interested in a career in academia teaching and researching on business practices, the DBA will be the better option.

Knowing your professional goals will help guide your choices for graduate study. Certain career paths, such as becoming a public defender or a medical doctor, are more clearly marked with the necessary steps, including the required educational level and graduate degree. Other career paths are less regimented and therefore require more investigation and consideration of what is right for you. Thoroughly researching your field of interest and having a strong understanding of the skills and knowledge you want and need from your graduate education will inform which degree options make the most sense for your goals.

Planning on returning to school? Check out our Grad School Resources . And if you’re interested in speaking with an admissions representative, find out which cities near you are hosting an Idealist Grad School Fair this fall.

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Master's vs Doctorate: Which Degree is Right for You?

Graduate degrees are becoming increasingly popular. 

According to the world’s largest and most sophisticated database of labor market and talent data from Burning Glass Technologies, 19% of U.S. job openings in the year 2018 requested a graduate degree. And that trend isn’t changing any time soon. In fact, the Bureau of Labor Statistics expects master’s-level occupations to grow by 17% by 2026. Employment for doctoral- and professional-level degree is also projected to grow by about 13%. Both of these projections are much faster than the 7% average for all occupations. 

The demand for both master’s and doctorate degrees is high. But how do you know which level of educational attainment is right for you? Does your industry or career aspirations necessitate one degree or another? Will you personally benefit more from a master's or doctorate?

We’ll show you how to take all these factors into consideration to help choose if you should get a master’s degree, or if you should complete your master's and go on to pursue a doctorate degree.

Master's vs Doctorate: What are typical program requirements?

Whether you pursue a master’s degree or doctorate degree program, it’s a significant commitment of time, energy and finances. Before you choose, you should understand the requirements for not only getting into a program, but also completing your master’s or doctorate degree.

Now that you have an understanding of what committing to a master’s degree or doctorate degree entails, compare the focus of the program and coursework. 

Master's vs Doctorate: What’s the difference in content and coursework?

The focus of master’s degrees and doctorate degrees is different. 

A master’s degree is designed to deepen career-oriented knowledge and skills. A doctorate degree is a heavily research-based degree, designed to develop critical research,analytical and writing skills in an effort to fill industry knowledge gaps.

Because of these different goals, the makeup of the coursework and content is also distinct.

Master’s programs feature three different types of courses:

• Core courses: These courses are required to complete your master’s degree and are considered essential knowledge to advance your industry expertise.
• Electives: These are a selection of courses that allow you to further specialize your degree with concentrated knowledge in specific areas. They can also be used to broaden your experience in related subject areas.
• Capstone course (or thesis): The culmination of a master’s degree, a capstone course or thesis usually involves conducting research and presenting your findings.

Doctorate programs are broken down into four distinct parts:

• Coursework: These advanced courses are required knowledge for passing your comprehensive exam. 
• Research Core: These courses impart essential research, analytical and writing skills to prepare you to complete your dissertation.
• Comprehensive exam: The comprehensive exam tests your understanding of key concepts learned through your coursework. Passing your comprehensive exam is essential to beginning your dissertation.
• Dissertation: You work with a dissertation committee to identify a research topic. Then you complete in-depth research, analysis, and writing before you defend your original research to your dissertation committee. 

As you consider these degrees, decide which better fits your academic and professional goals, as well as your personal interests and learning style.

Master's vs Graduate: How much will the degree cost?

We know that cost is a top concern for individuals deciding what degree to pursue. Unfortunately, it’s also one of the most difficult questions to answer. Cost estimates for a master’s degree can be anywhere from $30,000 to $120,000—and costs for doctorates can range just as widely. 

If you’re trying to evaluate the cost of a master’s vs doctorate degree you need to look at important factors like:

• Type of institution: Whether you choose a public, private nonprofit or for-profit school will impact how much you pay in tuition. The reputation and rankings of a university also affect the cost of tuition. 
• Time to graduation: How many courses you take at one time and the total number of credit hours you need to graduate affect the cost of both master's and doctorates. Doctorates depend highly on an individual’s time and commitment to completing the research and writing of an original dissertation. Also, keep your other personal and professional commitments in mind when estimating how long it will take to earn your degree (and how that will impact cost).
• Transfer credit: If you have a professional certification, or have earned graduate-level course credit, you may be eligible to transfer credit toward your degree. Getting transfer credit can significantly reduce your total cost.

Remember: To complete a doctorate degree you must first complete a master’s degree. So if cost is a top concern, evaluate which institution and program will give you the best value. In some cases, you may even be able to complete both a master’s degree and doctorate degree at a lower cost than a master’s degree at a school with high tuition. 

Earning a doctorate is challenging and rewarding, but do you know what to really expect? Download this free guide for tips and insights to help you prepare for success.

Master's vs doctorate: what are the outcomes of each degree.

When it comes to the outcomes of a master’s or doctorate degree, you should look at three key factors: skillset, career prospects and salary expectations. Let’s dive into the differences between the outcomes of these two types of graduate degrees.

• Skillset: Master’s degrees focus on the expert command of industry-specific skills, while working to develop critical-thinking and problem-solving skills. On the other hand, doctorate degrees are nearly the inverse—they heavily focus on research, analysis and writing in support of developing transferable skills that can be used to fill gaps in industry knowledge.
• Career prospects: Career advancement is a primary goal for people who pursue master’s and doctorate degrees. Master’s degrees are seen as career-oriented degrees that prepare you for management and leadership positions. More and more, doctorate degrees are becoming the norm for top executive positions, as well as opportunities to transition your career into academia.
• Income: Both master’s degrees and doctorate degrees significantly increase your salary expectations and lifetime earning potential. But which is worth more? According to the BLS, a master’s degree has the power to boost your earnings by 17% when compared to a bachelor’s degree, while a doctorate degree can bring in a salary 30% higher than a bachelor’s degree. According to the U.S. Census Bureau, an individual with a master’s degree can also earn more than $2.8 million in their lifetime, while a doctorate degree can earn you over $3.5 million.

Comparing the Benefits of Master's vs Doctorate Degrees

There are a lot of factors that go into choosing a master's vs doctorate degree. But as you evaluate all of the different aspects of these programs, make sure to keep your long-term goals in mind. We’ve outlined four key ways to compare the benefits of master's vs doctorate degrees against your goals.

Master's vs Doctorate: Popularity meets possibility with online degrees

As demand increases for advanced degrees, professionals are looking for ways to make getting their graduate degree more attainable. That’s why online master’s and doctorate degrees are more popular than ever. Online degrees offer working professionals the opportunity to get their degree without stalling their career.

Getting your master’s degree or doctorate degree is a lifetime achievement that can help you advance your career. If you’re considering your options for a master’s or doctorate degree, explore Franklin University’s online master’s degrees and online doctorate degrees to find a program that can help you take your career to the next level.  

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What Comes After a Master's Degree?

Know Your Graduate School Options Beyond a Master's

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After receiving your master's degree, there are still more options to study in graduate school, including an additional master's degree, doctorate programs (Ph.D., Ed.D., and others) and certificate programs to consider. These degree and certificate programs all vary in level, time to complete, and more.

Additional Master's Degrees

If you have already earned a master's degree and wish to continue your studies, you might consider a second master's degree. Since master's degrees tend to be specialized degrees, as you grow within your career you may find that a new specialty is required or that two specialties will make you an even more desirable candidate when job hunting. In education, for example, many teachers earn a Master's of Arts in Teaching degree but may return to the classroom to study for a degree in the field in which they are teaching, such as English or mathematics. They may also wish to pursue a degree in organizational leadership, especially if they are looking to grow into an administrative role in the school.

Master's degrees generally take two, sometimes three, years to complete (after earning a bachelor's degree), but pursuing a second degree in a similar discipline might allow you to carry over some credits and complete the program sooner. There are also some accelerated master's programs that can earn you a degree in less than a year; just be prepared for a lot of hard work. All master's programs entail coursework and exams , and, depending on the field, possibly an internship or other applied experience (for example, in some fields of psychology ). Whether a thesis is required to obtain a master's degree depends on the program. Some programs require a written thesis; others offer an option between a thesis and a comprehensive exam . Some programs provide capstone courses, which are usually semester-long courses that provide a comprehensive overview of everything learned within the program and ask students to complete several small thesis statements to demonstrate mastery.

A meaningful way in which master's programs differ from many, but not all, doctoral programs is in the level of financial aid available to students. Most programs do not offer as much assistance to master's students as they do for doctoral students, and so students often pay most if not all of their tuition. Many top institutions even offer full scholarships for doctoral students, but a doctoral program is usually a much more comprehensive and time-consuming educational program, requiring a full-time commitment, versus the possibility of working your full-time job while going for a master's degree.

The value of the master's degree varies by field. In some areas such as business, a master's is the unstated norm and necessary for advancement. Other fields do not require advanced degrees for career advancement. In some cases, a master's degree may hold advantages over a doctoral degree. For example, a master's degree in social work (MSW) may be more cost-effective than a doctoral degree, given the time and funds required to earn the degree and the pay differential. The admission offices at the schools you're applying to can often help you determine which program is best for you.

Ph.D. and Other Doctoral Degrees

A doctoral degree is a more advanced degree and takes more time (often a great deal more time). Depending on the program, a Ph.D. could take four to eight years to complete. Typically, a Ph.D. in North American programs entails two to three years of coursework and a dissertation — an independent research project designed to uncover new knowledge in your field that must be of publishable quality. A dissertation can take a year or more to complete, with most averaging about 18 months. Some fields, like applied psychology, may also require an internship of one year or more.

Most doctorate programs offer various forms of financial aid , from assistantships to scholarships to loans. The availability and types of support vary by discipline (e.g., those in which faculty conduct research sponsored by large grants are more likely to hire students in exchange for tuition) and by the institution. Students in some doctoral programs also earn master's degrees along the way.

Certificate Programs

Certificates can usually be earned in less than a year and are often significantly less expensive than going after additional degrees. If you're wondering what should come after your master's degree and you're not sure if a doctoral program is right for you, this could be the way to go. Certificates range in scope greatly and can allow you to hyperfocus on the areas in which you wish to excel. Some schools even offer certificate programs that are of a masters degree caliber, so you can walk away better prepared for your career and without breaking the bank. Employers who offer tuition assistance may look favorably on a less expensive certificate program as well.

Which Is the Best?

There is no easy answer. It depends on your interests, field, motivation, and career goals. Read more about your field and consult faculty advisers to learn more about which option best fits your career goals. Some final considerations are as follows:

• What types of jobs do a master's degree, doctoral degree, and certificate holders have? Do they differ? How?
• How much will each degree cost? How much will you earn after obtaining each degree? Is the outcome worth the cost? What can you afford?
• How much time do you have to invest in additional schooling?
• Are you interested enough to pursue many years of schooling?
• Will earning a doctoral degree offer a substantial benefit in your employment and advancement opportunities?

Only you know which is the right degree for you. Take your time and ask questions, then carefully weigh what you learn about each, its opportunities, as well as your own needs, interests, and competencies. What comes after a master's degree is up to you.

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Master’s vs. Ph.D.: What’s the Difference and Which One to Choose?

If graduate school is on your radar, one of the first things to consider is what type of degree you should pursue . While a bachelor’s degree is required for any postgraduate study, many people think you need a master’s to pursue a Ph.D., but that isn’t always the case. While there are benefits to receiving your master’s degree before your Ph.D., it’s not always necessary or required. However, there are important differences to note when deciding which type of program to apply to.

Master’s degree

A master’s degree usually takes about two years to complete full time. There are programs that allow a student to attend on a part-time basis, but that of course extends the completion time. Many master’s programs require a thesis to be completed, but not all. A thesis is a research project that is completed during the final year of a master’s program under the guidance of your program chair or advisor.

Under the master’s umbrella, there are quite a few specific degrees you can obtain. Your professional path will determine which of these you pursue.

• Master of Arts (MA) is given for disciplines in the arts and social sciences.
• Master of Science (MS) is given for sciences, health, engineering and statistics.
• Master of Research (MRes) is focused on training students to become researchers. This is advantageous to a student if they’re pursuing a research-based career or planning to apply for a Ph.D. program.
• Master by Research (MPhil) is similar to a MRes but is more advanced and focuses on research topics to be explored in depth. It’s often considered a precursor to a Ph.D. program.

Specialized master’s degrees

There are numerous specialized master’s degrees that are categorized by profession. These are often (not always) preceded by some professional experience prior to undertaking these types of advanced degrees.

• Master of Business Administration (MBA)
• Master of Library Science (MLS, MLIS, MSLS)
• Master of Public Administration (MPA)
• Master of Public Health (MPH)
• Master of Social Work (MSW)
• Master of Laws (LLM)
• Master of Education (MEd, MSEd, MIT, MAEd, MAT)
• Master of Engineering (MEng)
• Master of Architecture (MArch)
• Master of Fine Arts (MFA)
• Master of Divinity (MDiv)

Ph.D. (Doctor of Philosophy)

There are many Ph.D. programs and, in general, it’s considered the most advanced type of research degree you can obtain. Ph.D. candidates are required to complete a dissertation to obtain their degree. Unlike a thesis, a dissertation is longer and consists of original research conducted throughout the entire doctoral study. In some cases, students may be awarded a stipend, or pay, to complete the doctoral program and dissertation.

Ph.D.’s take a considerably longer time to complete than a master’s, five to eight years on average, and they carry a rather high rate of noncompletion due to time and financial commitments. Many Ph.D. programs have stipends available, so it’s important to inquire about that when researching a particular program.

Specialized doctorate programs

As with master’s degrees, there are several specialized doctorate programs specific to different disciplines and areas of study:

• Doctor of Business Administration (DBA)
• Doctor of Engineering (EngD/PhD)
• Doctor of Education (EdD/D.Ed)
• Doctor of Social Science (DsocSci)
• Doctor of Professional Studies (DProf)
• Doctor of Architecture (DArch)
• Doctor of Theology (Th.D)
• Doctor of Divinity (DD/DDiv)
• Doctor of Science STEM (Dsc/ScD)
• Doctor of Science Arts & Humanities (DLitt/LitD)

When deciding which one to get, consider your immediate or long-term career goals — which degree would serve you best? In some cases, you can obtain a Ph.D. with just a bachelor’s degree, but often it’s recommended you get a master’s first for the research experience that will be required for a Ph.D.

As with anything, there are exceptions. Students in law school obtain a J.D. (Juris Doctor) but can then further obtain a master’s in a sub-specialty like tax or immigration law. The health care occupations of physical therapist and pharmacist are also doctorate programs obtained post undergrad.

Making your choice

As with any decision, weigh your options, list pros and cons, and go from there. Once you’ve narrowed your options , you’ll have a precise list of programs and institutions generated for your specific goals.

Should I Pursue A Master’s or A Ph.D.?

The first step in deciding on the right graduate program for you is to figure out which degree will best serve you—a master’s or a doctor of philosophy (Ph.D.). Here are a few factors to consider.

What are your career goals?

• Professional master’s: A good choice if you want to develop a particular skill set in order to practice a particular profession. This type of degree provides coursework focused on learning and practicing skills.
• Research master’s: A good fit if you want to gain expertise in a discipline and know how to teach it. A research master’s typically includes a research project or thesis and comprehensive exams in addition to coursework and provides experience in research and scholarship.
• Ph.D. (doctor of philosophy): Consider this option if your goal is to ground yourself in a body of research and develop the ability to add to that body of knowledge. Ph.D. study includes a major research project in addition to coursework, and a Ph.D. is the highest scholastic degree awarded by American universities. Contrary to common perception, career paths for Ph.D. graduates are quite varied, not just limited to academia. Ph.D. training helps you hones skills such as writing, research, teaching, data analysis, communicating complex topics—all of which can translate into many sectors, including industry, government, nonprofit, and entrepreneurship.

See career data for Duke graduate programs' alumni

How much time do you have to pursue a graduate degree?

Master’s degrees typically take two years to complete, while Ph.D. programs generally take five to seven years ( see Duke programs' time-to-degree ). That is a significant difference in commitment and opportunity costs. It might also play a key role in deciding which factors take higher priority as you evaluate a program. How does the length of the program fit with your career and family plans? How important is the surrounding community if you are going to be there for seven years instead of two? How long are you able or willing to go on a limited income while in graduate school?

How much can you afford to pay for a graduate degree?

Consider your personal financial situation (e.g., how much savings and student loans do you have), as well as how much financial aid you can get. Master’s and Ph.D. programs differ greatly in the amount of financial aid available. Ph.D. programs tend to offer significantly more financial support than master’s programs (but often will have research or teaching requirements). 

A typical Ph.D. financial aid package usually includes coverage of tuition and fees, a living stipend, and some level of support for health insurance for a set number of years. For instance, Duke’s standard Ph.D. package covers tuition, mandatory fees, and a stipend for five years, as well as health insurance premiums for six years. 

Within an institution, the level of financial support often differs across programs, so be sure to ask your specific program about the financial aid it offers. There are also many national organizations that provide competitive fellowships and scholarships for graduate students.

Know which degree you want to pursue? Here are some key things to look for in a program .

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Master’s vs PhD — These are the Main Differences

Updated: July 18, 2022

Published: October 31, 2019

The consideration between earning a master’s vs PhD is not always an easy choice. While many careers and personal aspirations may be complete with just an undergraduate degree (Associate’s or Bachelor’s), a lot of people continue their higher education to obtain graduate degrees. These include a master’s and/or a PhD.

Neither a master’s degree nor a PhD is considered to be a walk in the park. Therefore, it’s useful to understand why you would earn either and then decide how far to go.

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Definitions: master’s vs phd.

Bost a master’s and PhD are defined as postgraduate degrees, but they require different commitments and styles of learning.

1. Master’s Degree:

Mostly all master’s degrees will require the completion of an undergraduate bachelor’s degree to enroll. They generally all share the same common requirement for a thesis or dissertation to graduate.

Earning a master’s degree through a taught program will result in the completion of a Master of Art (MA), Master of Science (MS), or Master of Philosophy (MPhil). For those who earn their master’s degree through research, they will earn a Master of Research (Mre), in a tailored field of study. There are also degree-specific master’s programs like Master of Business Administration (MBA) and Master of Education (M.Ed).

After earning a master’s degree, the next step is a PhD, which entails both working and performing research at an institution. A PhD is an abbreviation for “Doctor of Philosophy.” It is the highest academic degree one can achieve. As such, it is a time-consuming pursuit that requires a lot of studying and research.

You may be wondering, “Do you need a master’s to get a PhD?”

Technically, the answer is not always. Some students skip a master’s and go straight for their PhD, but they may lack research experience. While it could save money, the transition between a bachelor’s and a PhD is incredibly sharp. It may be harder to complete a PhD without the experience from a master’s.

Yet, some institutions may allow for the possibility to earn both your master’s and PhD in conjunction with one another. This will alleviate the transition between skipping a master’s and going straight to earning a PhD.

Should You Get a Master’s or PhD?

There are many considerations to factor when deciding between a master’s of PhD. For starters, it’s useful to consider the amount of time it will take, the cost, and the benefits and disadvantages of each. It is also of utmost importance to explore your own personal goals and reasons for wanting a graduate degree.

If your desired career of choice requires a PhD, like becoming a university professor, then you have your answer. If you want to start a business and benefit by networking while in school, a Master of Business Administration (MBA) could be a good idea. Consider what you want to pursue as a career and find out the requirements first.

Another useful thing to note is that a master’s degree can be used for a shift in careers. For example, if you attended college and earned a bachelor’s degree in humanities, but now you want to pursue science, you can still earn your master’s degree in a scientific discipline. On the other hand, a PhD is tailored to your field of study and specialty, so it will require that you are sure of your direction when you first earn your master’s degree.

Length of Time

A typical master’s degree program takes about two years full-time. However, there are accelerated programs that can be completed in just a year or so.

A PhD, in general, requires five to six years of studying, teaching, and research. However, it may even take some students up to eight or nine years to graduate. With this significant investment in time, it’s necessary to know if a PhD is right for you before starting.

The cost of both programs varies by institution and enrollment status of part-time versus full-time. However, since a PhD takes longer to complete, it will end up costing more. With that said, if you look into your return on investment, a PhD could end up yielding a higher salary, and therefore end up “costing less.”

Additionally, there is also the possibility of being paid to complete your PhD. Some students may receive an academic stipend, a university fellowship or apprenticeship or a reduced fee to earn their PhD while completing research (or teaching) at an institution. It’s also possible to get financial aid through a scholarship or grant.

As tuition rates continue to rise, it’s useful to look into alternative institutions for affordable education. For example, the University of the People offers a tuition-free master’s program in Business Administration and Education. This means you can study 100% online and graduate for less than the cost of most programs.

Weighing the Benefits

When comparing the two degree types, here are some benefits of each:

• Career-oriented
• Can open the door for more job opportunities
• Costs less than a PhD
• Takes less time than a PhD
• Helps you stand out from those with only an undergraduate degree
• You can perform research in your field of choice
• You become an expert in your field
• The prefix Dr. is added to your name
• You can teach in academia at the highest level

Required Commitment and Reasons to Pursue

Both a master’s and a PhD require a huge amount of hard work and utter commitment. You must be dedicated and motivated to complete either degree. Since most careers only may require a bachelor’s degree, having a master’s or PhD will set you apart from the competition. However, this should not be the sole reason to pursue either.

You may be wondering why would you earn either degree. Here’s a look at some motivational factors:

Reasons to Study for a Master’s

• Your career requires it (see next section)
• You want to advance your subject knowledge
• You want to experience graduate school and network with peers

Reasons to Study for a PhD

• You want to contribute new research to your field of choice
• Your career requires a PhD
• You want to earn the title of Dr.

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Required degrees by career.

Most people are motivated to pursue higher education because their desired careers require they do so. Here, we will break down those fields that require the completion of a master’s degree as it’s high on the list of reasons why to get one.

• Education Administration: To work as an administrator in an educational institution, you need to hold an advanced degree. A Master’s in Education (M.Ed) will provide you with the necessary knowledge and required skills to succeed in the field.
• Executive Level Business: A Master’s in Business (MBA) will not only place you ahead of the competition to land high-level positions in the field of business, but it can also be the jumping off point for becoming your own boss.
• Environmental Science: With issues in climate change and technological advancement, careers in Environmental Science are growing. As with most scientific careers, it requires a master’s degree where you will learn Applied Ecology, Environmental Policy, Environmental Chemistry, and more.
• Mental Health: To become a licensed practitioner and assist in mental health counseling, you will continue your education through a master’s degree in the field.
• Physical Therapy: Employers of physical therapists often prefer them to obtain a master’s degree in the discipline as the field is highly specialized.

Of course, some careers require a PhD. These careers are easy to spot because they have the prefix Dr. in front of them or the suffix like J.D. (Juris Doctor). To become a lawyer, doctor of medicine, veterinary medicine or psychologist/psychiatrist, you must obtain a PhD in the respective field.

Salary Differences Between Master’s and Ph.D. Graduates

According to a study performed by the Georgetown University Center on Education and the Workforce , the overall evidence shows that the higher the degree you have, the higher your salary potential. However, the differences vary by subject level and field.

In general, the expected lifetime earnings of those with each degree level is as follows:

• High School Diploma: $973,000
• Bachelor’s Degree: $1.3 million
• Master’s Degree: $2.7 million
• Doctorate Degree: $3.3 million

The Bottom Line

Aside from the financial cost and length of time, the opportunity to earn a master’s and a doctorate degree can offer several benefits.

However, it is an undertaking that requires a lot of dedication and motivation on behalf of the student. As such, it’s important to perform research on your desired career’s requirements, as well as your personal interest in pursuing either a Phd vs master’s.

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Master’s vs PhD/Doctorate Degrees – Key Differences

So, you are done with your bachelor’s degree but not with studying–according to the U.S. Bureau of Labor Statistics , this seems like a good idea. In its projections for the years 2019–2029, it lists 36 occupations that typically require a master’s degree and 63 requiring a doctoral or professional degree. The Bureau of Labor Statistics data also shows that the wages for these occupations are higher than the median for all occupations. 

Now you might wonder: What is the difference between master’s and PhD degrees and which one should I get? Read on for all the information you need to make this important decision!

Difference Between Masters and PhD: An Overview

A master’s degree is designed to teach you the knowledge and skills that you will need in your future profession. A PhD or doctorate degree, on the other hand, is designed to develop your critical thinking as well as your analytical and writing skills and is usually a years-long commitment to independent research on a specific subject. The purpose of a PhD is to prepare you for a career in academic research—although it can also help you get into a variety of other professions, and at a higher entry/salary level. In the US, a master’s degree is integrated into a PhD program, as a necessary preparation period involving mostly coursework, while in most other countries, a separate master’s degree is required to enter a PhD program.

If you want to stand out, you should definitely opt for a PhD degree: According to the United States Census Bureau , 24 million people in the US had master’s or professional degrees in 2019, whereas only 4.5 million had PhDs/doctorates. But is it worth the extra effort? And what exactly would the extra effort be? Have a look at the table below to get an idea about the key differences between master’s and PhDs.

Master’s vs PhD

Master’s or doctorate: which should you choose, how long does a master’s vs doctorate take to complete.

While the length of time it will take you to complete a PhD or master’s degree varies significantly between institutions and countries, we will focus on the US system here. Obviously, PhDs take much longer, because they are in fact a combination of both degrees and involve a long period of independent research that can get even longer than expected, depending on your topic, the available equipment or support, and a lot of other factors.

How long to complete a master’s degree

In the US, a full-time master’s degree takes students generally 2 years to complete, while part-time degrees are usually double the time.

How long to complete a PhD/doctorate

Since US PhD programs only require a completed bachelor’s degree, they start with an integrated master’s of 2 years of coursework, followed by 3–4 years of independent research into a specific topic. That usually includes publishing results, presenting at conferences, and preparing the final dissertation. Note that stipends/funding do not always cover the entire time it can take you to complete your PhD project—make sure you are aware of alternative options and additional funding at your institution or have at least thought about a backup plan before you start.

Master’s Degree Cost vs. a PhD Cost

Most people assume that PhDs are more expensive because they take many more years to complete. However, since PhD students usually receive scholarships or stipends, sometimes just for their commitment to full-time research and sometimes in exchange for teaching, the direct costs for a dissertation can be lower than those for a master’s degree. 

Additionally, while you are very likely to earn more with both degrees, the additional years of studying for a PhD should be factored into any estimation of costs vs outcomes.

Cost of a master’s degree

Master’s degrees at US universities can cost anything from $30,000 to $120,000, with tuition depending on the type of institution (public, private nonprofit, or for-profit). University rankings and general reputation also affect tuition costs. 

Whether an expensive degree (e.g., MBAs are often notoriously expensive) is worth the money for you personally depends on what kind of salary you think you can expect after graduating from that specific school. The universities you consider applying to should be able to provide you with data on the career and salary outcomes of their students, either on their website or if you contact them and ask for these details.

You can of course try to get a stipend and/or apply for a teaching or research assistant position at your school, depending on your undergraduate degree and experience. Moreover, many institutions offer the possibility to complete a master’s degree part-time, while working, which allows students to fund themselves.

You might also be eligible to transfer credits toward your degree if you have a professional certification or have earned graduate-level course credit—which can significantly reduce your total cost for both degrees.

Cost of a PhD/dissertation

PhDs, unlike master’s degrees, are usually funded, which means that tuition fees are waived and stipends or scholarships take care of living costs. Phd students are, however, often expected to take on teaching or research responsibilities in exchange for their funding. 

There are a variety of scholarships you can apply for if you want to pursue a PhD in the US as an international student—US-based ones like the Fulbright Foreign Student Program or the HHMI International Student Research Scholarships , but there are probably also funding opportunities in your home country for students who want to embark on a PhD abroad.

Pursuing a PhD degree part-time might sometimes be possible, but since students are expected to invest a full workweek into their research and potential teaching responsibilities, this is usually not realistic.

To estimate the overall cost of a doctoral program, the extra years that you could be working a full-time job with a regular salary also need to be factored into the equation—and take into account that projects may end up taking longer than expected, due to difficulties in collecting data, supervisors dropping out or moving on, or unforeseeable crises such as the COVID-19 epidemic.

Career Prospects for a Master’s vs PhD

While both a master’s and a PhD degree will qualify you for a variety of occupations that require higher degrees, they can also get you a higher salary in a profession that is also open to employees with a lower education level. PhD holders can in theory expect the highest wages, but since the two degrees prepare you for very different careers, that alone shouldn’t be what you base your decision on.

Master’s degree jobs and positions

Master’s degrees are overall more versatile than PhDs when it comes to employment opportunities and cover a wide range of fields and professions. The most common master’s degrees are the Master’s of Arts (MA) and the Master’s of Science (MS). 

Master’s programs can generally be divided into three different types:

Research master’s degrees, such as an MA in Comparative Literature or an MS in Biology, prepare students for academic and non-academic research disciplines and usually end with a thesis based on an original piece of research. In some fields, however, you are expected to enter a Ph.D. program after completing your master’s to be competitive when it comes to finding a job later.

Professional master’s degrees teach you practical skills and in-demand competencies that qualify you for a specific field and enable you to understand issues that are relevant in a certain profession. Examples include the Master of Public Health (MPH), the  Master of Business Administration (MBA), or the MA in Teaching (MAT). 

Terminal master’s degrees are the highest academic degree in fields where doctorates are not offered, and prepare students for careers outside of academia. The Master’s of Fine Arts in Creative Writing, for example, or the MS in Library Science are as high as you can go in those fields.

To give you an idea, below, we listed the 10 occupations at the master’s level that are projected to have the most openings annually from 2019 to 2029, according to the U.S. Bureau of Labor Statistics, and the highest-paying occupations for master’s degree holders without required work experience, based on projections from 2016 to 2026.

Master’s degrees, apart from helping you develop professional skills tailored to the requirements of the profession you intend to enter, can also serve as a stepping stone if you are already in employment and want to progress your career development, earn a higher salary, or change careers by learning new skills and subject knowledge.

PhD/doctorate jobs and positions

PhDs are usually intended to lead to an academic career, and many students aim to eventually become university professors. However, careers in academia are highly competitive, and there are not nearly as many professor positions as there are PhD holders. The good news is that the skills you learn during your doctoral program are often “transferable” and can be applied to other types of careers. 

Some PhD graduates end up (and enjoy) being colleague teachers, while others embark on non-academic research careers, for example at pharmaceutical companies, government agencies, consulting and technology firms, or think tanks. Job prospects vary widely across fields, with some—computer science, engineering, or economics—having very low unemployment rates, and others, for example the humanities, offering fewer and less desirable employment opportunities. Keep in mind, however, that someone with a PhD entering a different field or one that does not necessarily require a PhD may find that their degree sometimes does not help them or that they are even considered to be “overqualified” or as lacking practical skills and relevant professional experience.

Since there is no clear career path for PhD graduates, you should really take your time figuring out what field you want to work in later, what the career prospects for that field are, and if they are worth the time and effort you will have to invest to complete a PhD program. Your university should have data on the careers and salaries of their students, and should either display these details on their website or send you the relevant information if you contact them directly.

Master’s vs PhD: Application Process

The application process for master’s and PhD programs is overall very similar. In general, you will need to provide the following:

Frequently Asked Questions about Master’s vs PhD Degrees

How long does a master’s degree take vs a phd.

Full-time master’s degrees usually take 2 years to complete. Many universities offer the option to do a master’s part-time, which takes double the time. PhD programs in the US  start with an integrated master’s of 2 years of coursework (since you enter the program directly after completing your bachelor’s degree), followed by 3–4 years of independent research. 

Is a PhD harder than a master’s degree?

A PhD takes substantially longer and requires more self-motivation, organizational skills, and the willingness to carry on even when things do not go according to plan. You might also have other responsibilities, on top of your research, such as teaching or assisting your supervisor. But whether that is “harder” for you than a master’s degree that consists of mostly coursework and does not take more than 2 years depends on your interests and general working style. 

Is a master’s or doctorate better?

Master’s and doctorate degrees prepare you for different occupations and work positions, and which one is the right for you depends on what kind of career you are planning to pursue. Generally, a master’s degree is right for you if you want to deepen your career-oriented knowledge and skills for a specific profession, while a doctorate degree prepares you for a career in research, whether that is inside or outside a university.

Preparing Your Graduate School Essays

Now that you have figured out whether a master’s or PhD degree is the right choice for you, all that is left to do is to put your application together! Make sure that you focus on your chosen degree and its aim (research or a professional career) in all required documents—for example, highlight your professional and personal development in your CV for an MBA program, but the publication you got out of your bachelor’s thesis and how passionate you are about doing more research on the same topic for your application to a PhD program. 

As always, Wordvice can help with our professional Personal Statement Editing Services or Admission Editing Services , which help ensure that your application is error-free and showcases your full potential so that you get admitted to the graduate or doctoral program of your choice. For more academic resources on writing the statement of purpose for grad school or on how to request a letter of recommendation , head over to our Admissions Resources pages.

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Should I Get a Master's Before a Doctoral Degree?

Do you need a master's degree to get a Ph.D.? No, but experts suggest considering these key factors before deciding.

Should I Get a Master's Before a Ph.D?

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A master’s eases the transition to graduate work and may make you more competitive when applying to doctoral programs.

Although it's not usually a requirement, earning a master’s degree before applying to a Ph.D. or other doctoral program can be a good way to get accustomed to graduate-level coursework while gaining valuable research experience and connections in your field.

But it can also be an expensive and time-consuming detour on the route to a doctorate, so it’s important to consider whether the benefits of earning a master’s before a Ph.D. outweigh the cost.

Here are some factors experts say you should weigh.

Reasons to Get a Master’s Degree First

Karin Ash, a graduate consultant at Accepted, a college admissions consulting firm, says the research experience students can gain through a master’s tends to give them an edge in doctoral admissions.

Master's studies can also expand opportunities for students who already have significant research work behind them. Ash notes that some students she works with have research experience but choose to explore other research areas through a master's before deciding on a focus for their doctoral studies.

If your undergraduate major was fairly different from what you plan to study at a graduate level, getting a master’s degree first can help bridge the gap, says Julie Posselt, a professor of education and associate dean of the University of Southern California Graduate School. Posselt, who earned her master's before pursuing doctoral studies, says master’s studies can also help you decide whether what you’re studying is right for your academic interests and career goals .

“I learned through my master's program that the field that I had started to pursue was much more narrow than what I wanted for the long term,” Posselt says. “So instead of investing five years in a field, I was able to invest a shorter amount of time – two years – and then make the decision that if someday I wanted a Ph.D., it was going to need to be in a broader field than the one that I had during my master's.”

Ash and Posselt say a master’s can be a good way to network with experts in your field of interest and make connections that will be valuable in a future career.

“A lot of STEM students tell me they don’t have professors who know them as their classes are large,” Ash wrote in an email. “Obtaining a master’s degree will allow them to develop relationships with professors who can then write substantive recommendation letters .”

Reasons to Go Straight to a Doctoral Program

Master's degrees can be expensive , and students often don't receive significant funding to complete their studies.

“My concern is the increasing debt that American students have from their undergraduate education," Posselt says, "and the fact that most master's programs don't fund them, and as a result, students have to take out significant loans" to complete a master’s.

"I always encourage students, if they're going to get a master's degree, to try to find a place where they can get funding along the way,” she says.

On the other hand, Ash says it’s common for Ph.D. programs to be fully funded , so it may be unnecessarily costly to earn a master’s degree first – especially if it means taking out student loans .

In addition to considering the tuition cost, Posselt says it’s important to consider the earnings you could lose by delaying the start of your career by a year or two to pursue a master’s degree.

It's also worth investigating whether the doctoral program you're considering will accept some of the credits you earn in a master's program, as that could shorten your doctoral studies. But Posselt says the transferability of master's-level coursework is relatively weak and varies by institution.

Even if you do apply master's coursework to your Ph.D., it may not be worthwhile.

"Many Ph.D. programs will accept credits from courses taken at the master's level if the coursework is relevant to the program," Ash says. "However, often the applicant is veering to a more specialized education and will need to take the appropriate coursework to become proficient in that subject area. This could mean they end up with many more credits than needed to graduate."

If you’re still unsure whether you should pursue a master’s first, Posselt says it’s important to consider the leverage the degree could have when it comes to doctoral admissions. A master’s is more valuable in some fields than others, she notes, so consulting with advisers and mentors from your undergraduate studies is a good way to determine how useful it will be when pursuing doctoral work.

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What is the Difference Between a Master’s and Doctorate Degree?

According to the U.S. Bureau of Labor Statistics (BLS) , a master’s degree is typically required for thirty-six occupations, and sixty-three occupations require a doctoral or post-graduate professional degree.

With these numbers and the high wages associated with positions requiring advanced degrees, it’s no surprise that many students elect to pursue a master’s or doctoral degree.

These graduate degrees take more time to earn and offer a narrower educational focus and opportunities than a traditional bachelor’s degree.

This article explores the differences between a master’s vs. a doctorate degree, as well as shares the different types of degrees needed for specific career paths students can pursue.

What is a Master’s Degree?

Master’s degrees are advanced degrees designed to expand professional possibilities through involvement in research, exceptional career connections, and the best resources available. They are offered to cover a wide range of professional and academic applications, and master’s-level programs focus on teaching students industry-specific knowledge and skills that they will use in future professions.

Professionals who earn master’s degrees will typically earn higher incomes than those who only hold a bachelor’s degree. Furthermore, graduate school allows students to follow their passions with a specialized, hyper-focused curriculum, qualify for their dream career, and make long-lasting connections with peers and faculty in their chosen field.

Or, some students pursue a master’s degree to study a new field and reinvent themselves to seek a new career path.

Master’s degrees vary in length depending on the program, college or university, program format, and whether a student is taking classes full- or part-time. However, they are typically shorter than doctorate programs. Admission requirements will also vary, so students should research to ensure they know what will be asked of them.

What is a Doctorate Degree?

Doctoral degrees and programs consider the needs of working professionals in terms of curriculum content, orientation, and program organization. These advanced and usually terminal degrees are the highest level of education a student can obtain and are generally designed to prepare students for careers in academic research or teaching at the university level.

Like master’s degrees, doctorate degrees help candidates earn even higher salaries and higher-ranked positions, such as the head of marketing research, the head of a lab, or the head of department at a university.

Candidates often need both a bachelor’s and master’s degree to enroll in doctorate programs. In these programs, they take high-level courses, exams, and advanced seminars to complete the requirements for research, writing, and defending the dissertation, a doctoral-level thesis about one’s original research.

Program length will vary from institution to institution. Still, candidates should be prepared for their doctorate degrees to take longer due to the level of independent research, which can take longer than expected depending on the topic, available resources, and support. Students should check with their interested programs and universities to ensure they understand the admission and program requirements to obtain their doctoral degree.

Do You Need a Master’s to Get a Doctorate?

While most doctoral programs follow a traditional path of requiring candidates to complete a master’s program before entering a doctoral program, some schools and programs allow candidates to skip the master’s entirely.

For example, at University of Bridgeport, our Doctor of Chiropractic (D.C.) program allows students to enroll without a master’s degree as long as they have completed a bachelor’s degree or at least ninety undergraduate credits from a regionally accredited institution.

Other reasons doctoral programs will by-pass a master’s degree requirement include when:

• Candidates demonstrate research ability
• Candidates have years of professional work experience
• Programs offer combined master’s/doctorate programs

That said, master’s programs are extremely worthwhile on their own and a great way for students to assess if they are ready for a doctoral program, improve their chances for admission to doctoral programs, and overcome many of the challenges associated with graduate school , such as time management and imposter syndrome.

What are the Different Programs at the Master’s and Doctorate Level Students Can Pursue?

Master’s and doctorate degrees prepare students for different occupations and work positions, and choosing one over the other will depend on your interests, passions, and career goals.

For example, if you want to deepen your career-oriented knowledge and skills for a specific industry or profession, pursuing a master’s degree would be a great choice. On the other hand, earning a doctorate is necessary if you seek a career and position in research or at a university.

Thankfully, it’s easier than ever to earn both types of degrees in almost any field or industry, as many colleges and universities offer a variety of degrees and formats, including in-person, online, and hybrid degree programs.

While offerings will vary depending on the institution, at University of Bridgeport, students can pursue many degrees at the master’s and doctorate levels, including:

• Acupuncture
• Artificial Intelligence
• Biomedical Engineering
• Business Administration
• Chinese Medicine
• Computer Science and Engineering
• Criminal Justice
• Dental Hygiene
• Education Master’s Program
• Electrical Engineering
• Mechanical Engineering
• Music Education
• Master’s of Science in Nursing
• Master’s of Science Physician Assistant
• Public Health
• Technology Management
• Doctorate degrees:
• Chiropractic
• Educational Leadership
• Health Sciences

Financial aid is available, and we accept applications on a rolling basis. Plus, with our comprehensive support services , we are committed to getting you through college and into a great career with your master’s or doctorate.

Contact us to learn more and start your future today!

Doctorate vs Master’s

Once you have received your undergraduate degree and decided on the line of study that you want to pursue in the future, it is time to decide what graduate degree best suits your aspirations in the field. The two options that most people have in mind for graduate school are master’s degrees or doctorates.

There are quite a few differences between both these options, in terms of the time it takes to finish, the scope of the curriculum, the average costs involved, your future prospects after finishing the course, and so on. While it can be easy to get enamored by a master’s vs doctorate or the other way around, it is important that you look at the requirements and structure of both these courses and then take a decision. In order to make it easy for you to decide, here is a brief primer that will delve into the different features of each of these degrees!

The Doctor of Philosophy – better known as a PhD – is the most common type of doctorate that students pursue, but you must ensure that you remember that this has nothing to do with philosophy as a subject. The terminology is more in line with the research aspect of this degree. The purpose of doctorates is to foster the spirit of research into students and encourage them to take on projects that widen the existing realms of knowledge. A doctorate forms the highest level of academic degrees across the world. Once you have earned this degree, you qualify as an expert in the field and can go on to take positions of leadership in the private, public and non-profit sector.

Average Time It Takes to Complete

There are many different types of doctorates that you can pursue and the amount of time you will take to complete the degree will depend on the degree itself. On average, it takes most people between five years and eight years to finish their doctorate. The exact time will depend on the type of program that you choose to apply for, whether or not you have a master’s degree, and finally the amount of time you spend writing the dissertation.

Requirements to Enroll

The requirements for enrollment in doctorate programs differ from field to field and from program to program. In order to qualify for a doctorate program, you must complete your bachelor’s degree. In most cases, a master’s degree is also essential, but there are programs that allow you to enroll yourself without a master’s degree and earn it along the way. A doctorate, however, requires consistent academic and research excellence.

Average Cost

On average, a doctorate can cost you between $35,000 and $50,000, depending on the program that you are enrolled in. However, you must not allow this cost to deter you from pursuing a doctorate, as most institutions offer to fund doctorate programs. In many cases, the tuition fee for doctorate students is waived partially or completely. In addition to this, doctorate students are also eligible for stipends in return for assistantship and other positions.

Average Salaries

You can expect a hike in your average salary after the completion of a doctorate. This increase is the highest in the STEM fields, while social science doctorates may see a smaller increase. On average, students with a doctorate degree can hope to earn over $80,000 a year. However, a professional degree – and a doctorate in a professional field like medicine – will make you eligible for a much higher average salary.

Master’s

The duration of a master’s degree in the US is slightly different from the average time that it may take to complete a similar degree in another country. For example, in the United Kingdom, it takes only one year to complete a master’s degree, while in the United States it usually takes two years. This time period will depend on the program that you choose to enroll in and the amount of time it takes for you to carry out any research and put together a dissertation.

The requirements for enrollment into a master’s degree are usually more flexible than the requirements for a doctorate. You may be asked to submit GRE or GMAT scores, in addition to a good GPA, personal statement, essays and letters of recommendation from professors or employers.

It is difficult to ascertain the average cost of a master’s degree, as it differs from field to field and institution to institution. A master’s degree in a social sciences-related field may cost you about $30,000, while the cost for an MBA may go up to $100,000 to $150,000, depending on the program that you choose.

Just as the average cost for different types of master’s degrees are different, so is the salary that you can expect after the completion of the degree. In some cases, the average can loom around the $80,000 mark, while MBA graduates may be able to expect over $100,000 as the average salary.

There is no master’s vs doctorate dilemma as a master’s degree forms the basis of a doctorate. Even if you choose to enroll in a doctorate program without finishing a master’s degree, you may be required to finish all the credits that you would need in terms of a master’s degree. In the end, your decision should be made on the basis of your aspirations and existing qualifications.

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• Second Master’s or PhD? – A Comparison
• Types of Doctorates

A second Master’s degree is best suited for those who want to work in industry, but first either want to acquire additional knowledge in their current field or move to a new one. A PhD is best suited to those who want to gain advanced research skills and expertise in their current field and pursue a career in research or academia.

Introduction

It’s common for Master’s students to be plagued by the thought of what they will do next as they near the end of their current degree. Whether it’s taking a gap year, starting their career or continuing education, one thing is clear: there are many possibilities.

If you decide to stay in education, you’ll likely at some point consider whether it’s better to do a second Master’s or a PhD. You’d be right to give this serious thought, as the two degrees have significant differences, from their costs and durations, to the career paths they offer.

This page explains the differences between a second Master’s and a PhD, the pros and cons of each, and will help you to decide which of the two degrees is best for you.

Second Master’s vs PhD

Level of specialisation, master’s.

A Master’s degree, regardless of whether it’s an MSc, MRes or MPhil, aims to provide you with targeted knowledge that builds on what you would have learnt from your undergraduate degree. Although each type of Master’s degree has its own focus, such as an MSc on practical knowledge and an MPhil on research skills, the specialisation they offer isn’t as in-depth as that offered by a PhD. This is because they have a wider curriculum and usually utilise several teaching methods, including lectures and tutorials, which provide a range of knowledge around several closely related subjects.

PhDs are the highest form of academic qualification you can obtain and offer more specialised knowledge than any Master’s degree. Unlike Master’s degrees, which are based on a mixture of teaching methods and curriculum, PhDs are purely research degrees and focus on a specific research question.

A second Master’s degree will provide you with specialist knowledge in various subjects in your field. A doctoral degree will provide you with research skills and expert knowledge in a single topic within your field.

Programme Duration

Most Master’s courses take one year to complete, with an MPhil two years. However, the exact duration will depend on your specific course, type of Master’s and university.

A PhD lasts on average three to four years , with part-time studies lasting up to eight years.

Since a doctorate lasts several times longer than a Master’s, it requires a much greater commitment.

Programme Cost

The cost of a second Master’s degree will vary depending on its type, subject and host universities. Based on an analysis by FindAMaster’s , which summarises tuition fees from the International and Postgraduate Fees Survey 2019 , the average academic tuition fee per year for a Master’s degree in the UK is:

The average tuition fee per year for a PhD in the UK is £4,407 for home/EU students and £19,600 for international students .

There are other fees associated with doctoral research projects that aren’t present with Master’s studies. These include bench fees, travel costs for collaborations and conferences, and potential writing up fees for late thesis submissions.

Annually, a second Master’s degree is twice as expensive than a PhD for home/EU students, and slightly cheaper for international students. However, considering the typical duration of these programmes, a PhD becomes significantly more expensive; twice as expensive for home/EU students and four times as expensive for international students:

Notes: (1) The tuition fee values for the second Master’s is based on the average fees for an MSc. (2) The above table assumes a second Master’s duration of 1 year and a PhD duration of 4 years. (3) The fees and durations are indicative – the exact values vary depending on the course and university.

It’s also important to bear in mind that many PhD programmes come with funding which covers the cost of their fees. Many funding packages also include a living allowance (known as a stipend) which is comparable to a low salary. It is usually much more difficult to secure non-repayable funding for a Master’s programme unless it’s integrated with a PhD programme.

Employability

The skills and knowledge gained through a Master’s degree are general enough to apply to other relevant disciplines. For example, a Master’s degree in statistics would enable you to work in finance, medical analysis, and specific engineering fields etc. Due to this, a second Master’s could help make you suitable for an even wider range of professional fields.

Because a PhD focuses on advanced research methods and a specific research question as opposed to the broad field, your career path is usually refined to the more advanced positions which require expert knowledge. This doesn’t mean that you cannot apply your skills elsewhere, but most PhD holders remain in their field after completing their studies.

It’s worth noting, however, that there is a growing trend for PhD holders to use the transferable skills they acquired during their degree to successfully reposition themselves in careers outside of academia. In fact, STEM PhD holders are particularly sought after in the financial sector because of their proven ability to perform complex tasks under strict deadlines.

Both a second Master’s and a PhD offer excellent employment opportunities. However, a second Master’s usually offers greater career flexibility across industries, especially at the beginning of a career. A doctorate opens up the more demanding positions within a field, but can sometimes make it more difficult to change industries.

Finding a PhD has never been this easy – search for a PhD by keyword, location or academic area of interest.

Advantages and Disadvantages of a Second Master’s

Improving skills:  A second Master’s can strengthen your skills within your current field. For example, suppose you have an MEng in Biomedical Engineering. Here, you know of the technical aspects and their application, but you do not necessarily know how to innovate and develop them further. You could fill this skills gap with an MRes or an MPhil that would provide you with complimentary research and investigatory skills. Improving your skills won’t only help you advance faster in your career faster but may also open up future roles that would not otherwise be available to you.

Career change:  After completing your first Master’s degree, you may decide that the field is no longer suitable for you. In these scenarios, a second Master’s degree can facilitate career changes. This will have obvious limitations, for example, you shouldn’t expect to be able to do a Master’s in Biomedical Engineering with a Master’s in Classical Literature, however, if you already have a Master’s in another type of engineering, this transition would be possible.

Bridge between different Industries: In STEM subjects, there is extensive interaction between different industries. Although this interaction has always existed, it has grown steadily as more industries try to innovate and tackle more ambitious projects. There’s an obvious need for multidisciplinary roles, and a second Master’s degree in a relevant subject can make you desirable for this reason.

Disadvantages

Perception: If you carry out a second Master’s in a field unrelated to your first, even if to facilitate a career change, it can lead to potential employers perceiving you as unfocused. Although this shouldn’t be the case for large multidisciplinary organisations, it may deter the more specialised companies.

Salary: While a second relevant Master’s in the same subject field may increase your earning potential, a second unrelated Master’s is unlikely to. Although an unrelated second Master’s isn’t a disadvantage if being used to facilitate a career change, it will probably be an unnecessary use of time and money if you intend to stay within your current career path.

Advantages and Disadvantages of a PhD

Establishing yourself as an Expert: Any individual who holds a doctorate is considered an expert in his or her field. Therefore, a PhD has not only a prestigious status but also opens up roles in advanced research and academia.

Commitment: A PhD shows your willingness, commitment and motivation to learn. This makes you highly desirable for employers, as a strong passion for continuous learning usually correlates with the potential to become industry leaders.

Less freedom:  Taking three to four years to complete, a PhD is a huge commitment. As a result, many feel pressured to stay in their field to ensure that their PhD was ‘worth’ it, even if they no longer feel that the field is the right one for them. Although it is still possible to change paths after your doctorate, and many do so successfully, many feel ‘locked’ into their path after they finish their studies.

Over-qualified: You may find it difficult to find a job outside of research or academia, as employers may consider you over-qualified and therefore believe that you will quickly leap from the role to a more challenging one. They may also believe you lack practical work experience compared to your counterpart, who has a Master’s degree and has been working in the industry whilst you were working on your academic studies.

Cost: While PhD programmes can come with funding that helps to finance tuition fees and living costs, the funding usually covers only the first 3.5 years of full-time programmes and the first seven years of part-time programmes. You may be determined to complete your doctorate within this timeframe, but it is not uncommon for students to experience setbacks in their research that take them beyond the period for which they’re funded for. This means they have to pay the rest of the fee themselves, which can be a significant burden for some, especially if they lack the savings to do so.

Deciding between a second Master’s and a PhD may seem like a tough decision, but ultimately it depends on what your career goals are. Therefore, the first thing to do is to ensure you’ve thought about your future and have a good idea of where you want to go after your education.

A second Master’s is best suited to those who want to either gain more specialised knowledge in their current industry or make a job change by transitioning into a new industry. A PhD is best suited for those who want to gain advanced research skills and knowledge in their field and pursue a career in research or academia.

Either way, both options offer great opportunities and will open new doors for you. Which of the two degrees is better for you depends on which door you would like to open.

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PhD vs Masters in Psychology

Key Takeaways

• A master’s degree in psychology takes about 2-4 years to complete, while a PhD takes 4-7 years to complete.
• A master’s degree in psychology prepares graduates for careers in counseling, therapy, or organizational psychology.
• A PhD in psychology can offer a deeper expertise and broader opportunities in research, academia, and specialized fields.

Are you stuck at a point in your career despite having a bachelor’s degree in psychology? Acquiring an advanced degree can help you progress and pursue rewarding career opportunities. This comprehensive guide on PhD vs master’s in psychology covers all that you’ll need to know to make an informed decision.

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Phd vs master’s in psychology.

Individuals seeking an advanced degree in psychology have two options: A PhD (Doctor of Philosophy) in psychology and a master’s in psychology (either an MA, Master of Arts, or an MS, Master of Science).

Your choice will significantly influence your career trajectory. A PhD is typically research-focused and oriented towards academia, while a master’s program is often more practice-oriented and can lead to licensure for clinical work.

When choosing between a master’s in psychology and a PhD, it’s crucial to consider your career aspirations, academic interests, time availability, and financial resources to make the best decision for your future.

Overview of PhD in Psychology

PhD in psychology , also known as a doctorate in psychology or doctoral degree, is a graduate degree that emphasizes original research and is designed for those aiming to become professors or researchers in academia or clinical psychologists. The program dives deep into complex statistics and research methodologies. You’ll typically need a bachelor’s degree and sometimes a master’s as a prerequisite.

A PhD program will often include comprehensive examinations, a thesis based on original research, and a longer timeline for completion, usually between 4 to 7 years. Due to the rigorous research component, many PhD programs offer various forms of funding, including assistantships, which may cover tuition and offer stipends.

Graduates with a PhD may pursue careers in a range of fields including health services, law, business, and government. Additionally, obtaining a doctoral degree is necessary for those looking to achieve licensure as a practicing psychologist.

Overview of Master’s in Psychology

Master’s in psychology, which can be obtained as a Master of Arts (MA) or a Master of Science (MS), generally takes a shorter time to complete than a doctorate—around 2 to 4 years. A master’s degree  typically requires about 30 credits of graduate-level coursework and may include a capstone project or thesis.

The master’s curriculum focuses on giving you practical experience through fieldwork or internships, preparing you for careers in areas such as school psychology, family therapy, or counseling psychology. With a master’s degree, you can expect to work in varied settings like hospitals, private practice, educational institutions, or business corporations.

Although a master’s degree may provide various career opportunities, for certain positions, especially those in clinical settings where you’re looking to work with patients, further licensure might be necessary. Additionally, those with a master’s degree may also work as research assistants in larger research projects, under the guidance of PhD holders.

A Comparison Between PhD and Master’s in Psychology

Before deciding between a PhD and a master’s in psychology, it’s important to understand how these degrees prepare you for different career paths and involve different financial and time commitment levels.

Similarities

• Prerequisite : Master’s and PhD degrees equip you with a deeper understanding of psychology  and a completed bachelor’s degree  is required to enroll.
• Research : In both programs, you will complete research projects to varying degrees and gain extensive knowledge of psychology.
• Employment : Both programs prepare you for diverse career opportunities within the field of psychology, such as positions in academia, clinical settings, or business.

Master’s and PhD degrees equip you with a deeper understanding of psychology, and require you to have completed a bachelor’s degree . In both graduate programs, you’ll be involved in research projects to varying degrees and gain foundational knowledge that can contribute to diverse career opportunities within the field of psychology, such as positions in academia, clinical settings, or business.

Differences

• Education : A PhD is usually focused on preparing you for a career in academia or advanced research positions. You will spend a significant amount of time conducting original research and completing a dissertation. Whereas, a master’s degree typically takes less time and is often seen as a stepping stone to a doctoral degree or a terminal degree.
• Licensure and career: If you’re aiming for roles that require licensure, like a licensed therapist or clinical psychologist, the path can differ. PhD programs usually include the required internships and practical experiences for licensure. Some master’s programs may also include them but most often require additional supervised clinical hours post-graduation.
• Time required: Completing a PhD can take anywhere from 4 to 7 years, whereas a master’s program can be finished in 1 to 3 years.
• Graduate school demand: Acceptance to PhD programs can be highly competitive due to funding opportunities like assistantships that cover tuition and offer stipends. For master’s programs, funding is less common, and they’re generally in higher demand.
• Tuition and funding : PhD students often receive tuition waivers and stipends through teaching or research assistantships, while master’s students may need to rely on scholarships, loans, or out-of-pocket payments to fund their program.

Major Distinguishing Factor

The most prominent distinction lies in the focus of the degree: A PhD is research-intensive, aiming to produce scholars who contribute original research to the field and may continue to teach or lead advanced studies. On the other hand, a master’s degree is more about direct practical application, preparing you for immediate employment within various psychology-related roles .

Whether you pursue a PhD in psychology for an academic or high-level research career or opt for a master’s to begin work sooner in a practical setting, understanding these differences is vital for aligning your education with your career aspirations.

When to Consider a PhD in Psychology

Enrolling in a PhD in psychology program signifies a commitment to deepen your expertise in the field and is a step in the right direction if your career aspirations include academia or high-level research positions. If you’re driven by a passion for original research and have a strong desire to contribute to the body of knowledge in mental health, a doctoral program is what you should aim for.

• Academic and teaching careers : With a PhD, you become qualified for faculty positions at universities where you can teach, mentor graduate students, and lead significant research projects.
• Higher salary potential : Although it depends on several factors, a PhD graduate may earn a higher salary than a master’s graduate, especially in roles like university professor or specialty researcher.
• Licensure and professional recognition : A PhD is often required for licensure as a clinical psychologist. This credential is important for practicing independently or holding senior clinical positions.

Here’s a quick breakdown of careers where a PhD is particularly beneficial:

With the demand for mental health professionals on the rise, job opportunities also expand. Your contribution to graduate studies could affect change and influence the direction of your chosen field. Additionally, funding for a doctoral program, though competitive, often covers tuition and provides a stipend, easing financial obstacles in your educational journey.

Remember, a PhD is a long-term investment in your education and career. It’s tailor-made for those who envision a future steeped in research, education, and advancing the psychological sciences.

When to Consider a Master’s in Psychology

If you’re contemplating higher education in psychology or aiming to improve and increase your career prospects without the extensive commitment of a doctoral program, a master’s in psychology  could be the right fit for you.

• Career and licensure:  If you desire to start practicing sooner, many roles in counseling, social work, and mental health require only a master’s degree for entry. This path can lead to licensure as a professional counselor or a marriage and family therapist, getting you into the field quicker.
• Education and teaching:  For teaching at a high school or community college level, a master’s degree is often enough. Educational institutions value the focused expertise a master’s program provides.
• Cost and duration:  Financial considerations are vital. Master’s programs generally take less time - typically 2 years - and psychology master’s programs present more affordable tuition options  compared to a PhD, meaning less potential student debt.
• Job opportunities:  With a growing demand for mental health professionals, a master’s degree can open various career opportunities in both government and private practice. Employers appreciate the diversity of skills that graduates bring to a wide array of jobs in the field.
• Funding:  While funding is more limited at the master’s level than for PhD programs, the general investment is often lower. This balances out, especially when considering the earlier salary earning potential due to a shorter education period.

Remember, you want to align your educational choices with your career aspirations. If your goal is to make an impact in the mental health sector without a focus on research or academia, a master’s degree could be your gateway to a rewarding professional journey.

PhD vs Master’s in Psychology: Which is Better?

When deciding between a PhD and a master’s in psychology, consider your career goals and the skills required. Each program equips you with a different set of credentials.

Master’s in psychology:

• Education : Requires less time, typically 1-2 years
• Career opportunities : Primarily suited for those seeking to enter the workforce quickly Job roles may include human resources, market research analysts, and social services managers
• Licensure : A master’s may lead to licensure for clinical practice in some states
• Tuition : Often less expensive due to the shorter duration of the program
• Salary and earnings potential : Pays less than a PhD graduate

PhD in Psychology:

• Education : A more extensive educational journey, often 4-7 years, including a dissertation
• Career opportunities : Ideal if you are aiming for a career in academia, teaching at the university level, or high-level research positions
• Licensure : Offers a pathway to becoming a licensed clinical psychologist
• Tuition : Psychology doctoral programs  can be more expensive, they may also offer more funding opportunities, such as stipends and teaching assistantships
• Salary and earnings potential : Generally higher due to the qualifications for specialized and senior roles

Industrial-organizational psychologists  and clinical psychologists  are examples of roles where a doctorate might significantly impact your earnings potential and job market competitiveness. A doctoral program prepares you for rigorous research and academic responsibilities, potentially in the field of mental health.

Deciding which is “better” between a PhD or a master’s degree heavily relies on your personal career trajectory and how you define success within the area of psychology. If your aim is to quickly join the workforce within a clinical setting or a corporate environment, a master’s could serve your needs. Should your aspirations include teaching at the university level or conducting advanced research, a PhD will offer you the necessary credentials.

Related Questions

Is a master’s in psychology the same as a phd.

Master’s programs in psychology and related fields vary in their emphasis on research. While some may include research components, others may focus more on practical applications. It’s important to research individual programs to determine their research orientation and align them with your career goals.

How long is a PhD in psychology?

Pursuing a PhD in psychology is a rigorous journey , typically lasting between 4 to 7 years. This duration includes advanced coursework, extensive research endeavors, and the completion of a dissertation. The exact timeline can vary based on factors such as program structure, research focus, and individual progress.

Is it better to have a Master’s or PhD?

Both degrees are valuable. A PhD offers deeper expertise and broader opportunities in research, academia, and specialized fields. A master’s degree provides valuable skills for careers in counseling, therapy, or organizational psychology.

When choosing between a PhD and master’s degree, it’s important to reflect on your professional aims and the kind of educational experience you prefer. While a master’s program provides foundational knowledge and professional skills, a PhD will allow you to go deeper into research methodologies and advanced scholarly study.

What Is a Master’s Degree? And Is It Worth It?

If you’re bored with your current job, have hit a career plateau, are looking to gain more specialized skills, or crave an interesting new challenge, you may be considering getting a master’s degree. Pursuing a master’s degree, which people sometimes refer to as ‘going to grad school,’ can open new career pathways and increase your earning potential, not to mention helping you gain valuable skills in your field. But it also comes at a cost, the price tag being a considerable one.

So, is a master’s degree worth it? We’ll break down the nitty-gritty of this post-graduate degree and help you decide whether getting a master’s is right for you. 

What is a master’s degree?

A master’s degree is a graduate-level educational credential obtained after obtaining a bachelor’s degree. Common examples are the Master of Arts (MA), Master of Science (MS), and Master of Business Administration (MBA).  

A master’s program usually takes two years to complete, but some can be done in as little as one year. To enter a master’s program, you must have completed a bachelor’s degree and the required prerequisite coursework. Sometimes, you must pass an entrance exam like the LSAT, MCAT, or GRE. A master’s program typically consists of between 30 and 60 hours of coursework plus a thesis or capstone project where you’ll apply what you’ve learned.

A master’s degree program can help you build a deeper understanding of your field, obtain advanced skills that can be applied to your career, and set you up to pursue further education like a doctorate degree. 

Bachelor’s degree vs. master’s degree

A bachelor’s degree comes before a master’s degree in the hierarchy of education levels. Nearly all master’s programs require a bachelor’s degree as a prerequisite. However, some schools let you obtain a bachelor’s and a master’s simultaneously as part of an accelerated program known as a ‘4+1.’

A bachelor’s degree is completed in an average of four years. It builds general knowledge in areas like English, math, and life sciences, as well as specialized knowledge in the student’s major. A master’s degree is more specialized, focusing mainly on the specialized area of the degree. 

A master’s degree does not require as many courses as a bachelor’s. However, it’s more common for people to pursue a master’s while they’re already working full or part-time, so it’s sometimes completed at a slower pace (i.e., one or two courses per semester versus three or four). 

About 35% of Americans age 25 or older hold a bachelor’s degree. The proportion of people over 25 with a master’s degree is much lower at about 13%. 

Benefits of getting a master’s degree 

Gain advanced knowledge/skills.

Master’s programs dive deep into specific subjects, providing you with a more comprehensive understanding of your profession. Your coursework will help you master specialized skills that will empower you to do your job better. Many programs also have a research component, which allows you to contribute to the body of knowledge in your field. 

Increase your earning potential

Salaries vary by field, but on average, people with a master’s degree earn more than those with lower levels of education. In 2024, workers over the age of 25 with advanced degrees like a master’s earn an average of $144,300 per year. That compares with an average of $117,936 for workers with only a bachelor’s degree and $66,768 for people with a high school diploma and no college. 

Over time, this pay disparity can add up to exponentially higher lifetime earnings. This not only facilitates a higher quality of life, but can enable you to support causes you care about, provide assistance to children and grandchildren, and have less stress later in life when you’re ready to retire. 

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Open more job opportunities

A master’s degree adds to your qualifications as a job seeker. Once you’ve obtained it, you’ll be eligible for a new selection of jobs that call for an advanced degree. This makes you more competitive and can give you a broader selection of roles to choose from. 

Advance your career 

Many companies reward employees for obtaining higher levels of education through promotions and pay increases. In certain fields, like social work and specific types of education, a master’s is required to obtain the credentials you need to move into more advanced roles and leadership positions. 

Access networking opportunities

Master’s programs are made up of people who are committed to enhancing their skills and expertise. This is generally a dedicated, hardworking group where you will likely make beneficial connections. You’ll also be able to network with professors and successful professionals in your industry. 

Enjoy personal satisfaction 

Pursuing a master’s requires you to hone soft skills like critical thinking and problem-solving, which have benefits that extend to your personal life. Many students feel a strong sense of pride in their work during their master’s program and experience feelings of accomplishment once they’ve completed it. 

Potential downsides of getting a master’s degree

Getting a master’s degree is pricey. According to the Education Data Initiative, the average cost of obtaining a master’s in 2024 is $59,684. The cost varies between public and private schools; a master’s from a public university will run you around $48,690, while one from a private college costs $64,440 on average. It also varies by degree type, with arts degrees ranging on the high end and education degrees falling on the lower end.

Time commitment

Master’s programs require a significant time commitment, typically one to three years of full-time study. It can be tough to juggle academics with work, family obligations, and other responsibilities. Non-essential commitments like social activities and hobbies may need to be put on the back burner. 

Delayed workforce entry

If you pursue your master’s degree immediately after getting your bachelor’s, it could mean you’re in school for six to seven years straight. During this same time, other people will be entering the workforce and building practical experience, which means, in some ways, you’ll come out less qualified than your peers. 

While a master’s degree generally correlates with higher earnings and more advanced roles, there are no guarantees. It’s possible that additional education may not produce the return on investment you had anticipated. In some fields, hands-on experience may be viewed as more valuable–and may result in higher pay–than an advanced degree. 

Limited flexibility

Once you’ve selected a field of study and committed to a master’s program, you may find it challenging to switch courses in the future if you change your mind. You risk pigeonholing yourself into a narrow career path that feels more “locked in” because of the investment you’ve made. 

Alternatives to getting a master’s

Getting a master’s degree isn’t the only path to career advancement. Consider these alternatives, which can strengthen your skills and provide valuable professional development. 

Skills-based certifications

Certifications can help you bolster your skills without the extensive commitment of a full degree program. You can obtain skills training in boot camps, seminars, and workshops that take place over several hours or weeks rather than years. You’ll leave with a new professional certification to add to your resume. 

Cross-training

A growing number of employers have begun to recognize the value of cross-training or cross-skilling, which is the process of developing skills outside an employee’s primary area of expertise. For example, a marketer could improve their campaigns’ performance by learning copywriting techniques. A sales representative could tailor their pitches by shadowing their teammates in customer support. If your employer is aware you’re seeking additional professional development, they may be able to facilitate cross-training opportunities. 

Externships

You know about internships, which allow you to gain hands-on experience while connecting with seasoned professionals in your field. However, completing an internship may be unrealistic if you’re over a year or two out of school. That’s where externships come in. An externship is a short-term program that allows you to shadow professionals in a field you’re interested in to learn more about what they do. Externships are typically more informal than internships, so you can participate simply by getting a referral from a friend or colleague.  

Apprenticeship

An apprenticeship is a formal, highly structured program that prepares you for work in a specific role. They last between one and six years, depending on the field. Apprenticeships are usually associated with skilled trades like electricity and plumbing, but they can be found in all types of industries. Unlike a master’s program, which you pay for, an apprenticeship pays you while you learn. You’ll build skills in a real-world setting alongside pros and emerge ready to start your career. 

Is a master’s degree worth it?

Figuring out if a master’s degree is worth it is a highly personal decision. Where one individual might find that a master’s brings them a rewarding new job, a higher paycheck, and a deep sense of satisfaction, another might decide they can advance their career and find professional fulfillment without the time and financial commitment of a multi-year academic program.  

As you weigh your options, consider how much time you have to commit to a master’s program and whether you’re willing to make sacrifices in other areas of life, like your social life and relationships, and even put your career on hold. Take a realistic look at whether this degree will open new doors in your career and to what extent, and be honest if you’re mainly thinking about it because you’re bored or disengaged at your current job. Make a list of the pros and cons, talk to others in your desired field, meet with a career counselor, and seek out advice from a trusted mentor. 

By carefully considering the weighty decision to pursue a master’s degree, you’ll be able to make a choice that’s best for you and moves you closer to your ultimate career goals. 

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Student and Temporary Graduate visa changes: 2024

A summary of recent announcements

Main content

14 May 2024

The Australian Government’s Migration Strategy was released on 11 December 2023. The Strategy is designed to further strengthen the integrity and quality of Australia’s international education programs, better protect international students and support graduates to achieve their career goals.  

Summary of changes 

1. new financial capacity requirement .

From 10 May 2024, the financial requirement that applies to Student and Student Guardian visas will be set at $29,710 for an individual student. The new financial requirement apply to any visas lodged on or after 10 May 2024. For more information visit the Department of Home Affairs website.

2. TOEFL iBT has been reinstated for visa purposes 

TOEFL iBT is again a valid test for student visa purposes and is accepted by all Australian universities. Please note that tests taken between 26 July  2023, and 4 May 2024, are not valid. Tests taken before 26 July  2023, remain valid for two years. 

3. New Genuine Student (GS) requirement 

From 23 March 2024, the new Genuine Student (GS) requirement have replaced the Genuine Temporary Entrant (GTE) requirement with a list of targeted questions.    

4. New English language requirements  

From 23 March 2024, new English language requirements apply to all Student Visa and Temporary Graduate Visa applications.  

Upcoming changes  

1. temporary graduate visa length will be reduced .

The length of post-study work visas will change . However, Australia’s Temporary Graduate visa will still give you time to gain valuable work experience and demonstrate your skills to Australian employers. 

If you gain work in a skilled job during your post-study work period, you may be eligible to apply for the new 4-year Skills in Demand visa. This visa provides a clearer pathway to permanent residency. 

Initial stay periods for Indian nationals will not change, as agreed in the Australia-India Economic Cooperation and Trade Agreement. See the  Migration Strategy  for further details.

This change is intended to come into effect from 1 July 2024. 

2. New age limit for Temporary Graduate visa  

The maximum eligible age for Temporary Graduate visa applicants will reduce to 35 years of age or under.   

This change is intended to come into effect from 1 July 2024.  

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University of Wisconsin nursing deans lobbied for money to graduate more nurses. Then DEI questions arose

Nursing school deans across the state were hopeful around this time last year. They were working with a Republican state senator on a plan to increase student enrollment and graduate more nurses.

But concerns about diversity, equity and inclusion, or DEI, became a sticking point in the process and played a role in the plan stalling out, according to recently released emails obtained by the Milwaukee Journal Sentinel.

The records offer another example of how DEI is influencing the legislative process and reshaping how higher education leaders respond.

Leading the failed effort were state Sen. Rachael Cabral-Guevara, R-Appleton, and Kim Litwack, dean of the University of Wisconsin-Milwaukee School of Nursing. Litwack told the other UW nursing school deans last June that Cabral-Guevara had the votes in the Senate to give the six UW nursing schools $1 million each, as well as $3 million to private institutions with nursing schools.

There was a caveat.

"IF … we can somehow separate UW nursing from the UW DEI issue that Robin Vos is hot about," Litwack wrote to the other nursing deans, referring to the Republican Assembly speaker who last year launched a campaign against DEI programming on UW campuses. "He is willing to support the nursing initiative IF we can find a way, truthfully, to talk about our way of doing things."

The Legislature never took up Cabral-Guevara's proposal to get nursing schools more money. The records don't show why the plan didn't pan out. Vos did not return requests for comment, nor did Senate Majority Leader Devin LeMahieu, R-Oostburg.

Cabral-Guevara's office declined an interview request. Her chief of staff, Ryan Retza, said DEI "was not the sole reason the proposal did not come to fruition." Other nursing-related budget priorities "were given emphasis," such as a nurse educators program that Republicans continued funding at $5 million per year but declined to increase to $10 million annually as Democratic Gov. Tony Evers requested.

“This is one budget project that just simply was not able to pan out successfully,” Cabral-Guevara said in a statement to the Journal Sentinel about her plan. “The proposal would have supported our nursing students and schools, boosting retention and improving access to programs.”

UW nursing deans discuss DEI policies within their schools

Emails show Cabral-Guevara reached out to Litwack in March 2023 about nursing education legislation she was crafting. The state senator is a nurse practitioner who previously taught at the UW-Oshkosh College of Nursing.

Modeling by the state Department of Workforce Development shows Wisconsin is expected to be short by about 20,000 nurses by 2040.

Litwack asked the other deans at UW-Madison, UW-Oshkosh, UW-Green Bay, UW-Eau Claire and UW-Stevens Point for feedback on Cabral-Guevara's proposal. The records, which were part of a broader Journal Sentinel request that took the UW System nine months to turn over, show the deans agreed on a plan to increase enrollment by 10% over two years.

In mid-June, Litwack told the other deans Cabral-Guevara told her she had enough votes in her chamber but DEI remained a concern for Vos. Litwack said she explained to the senator how nursing colleges' accrediting bodies encourage a holistic admissions process that considers factors beyond GPA, how hospitals prioritize diversifying their workforce and how health outcomes improve when patients identify with their caregivers.

"I explained and Rachel being a nurse gets it," Litwack wrote, but she asked the deans for help explaining their position. She also asked them to confirm whether their schools gave extra points for diversity in the admissions process or employed their own diversity officer.

UW-Green Bay nursing dean Christine Vandenhouten thanked Litwack for "taking on this behemoth of an issue" and answered Litwack's questions.

"Good luck," Vandenhouten signed at the end of the email.

Litwack then asked about schools' pronoun policies and mandatory diversity statements. She said UWM didn't require students to designate their pronouns but respected students who made their own requests.

Seon Yoon Chung of UW-Oshkosh confirmed the nursing college has no personal-pronoun requirement, no diversity statement mandate and no diversity officer.

Vandenhouten weighed in again, saying UW-Green Bay also didn't require students to declare personal pronouns or sign a diversity statement. "Good grief," she wrote.

"This is all coming from RV, not Rachel," Litwack emailed back, referring to Vos.

Litwack did not respond to an interview request. UWM referred the request to the UW System. UW System spokesperson Mark Pitsch in a statement offered appreciation to Evers and the Legislature for past nursing program funding and said additional money would "help us increase our capacity to train the next generation of nurses our state desperately needs."

DEI dispute entangled University of Wisconsin for months

Three days after the email exchange among the deans appeared to end, the GOP-controlled budget committee cut the UW System's budget by $32 million , the estimated amount spent on salaries of DEI employees. Republican lawmakers said campuses shouldn't force students to view the world through a racial lens.

The temporary cut launched a six-month budget standoff that ended when Vos reached a deal with UW System President Jay Rothman and UW-Madison Chancellor Jennifer Mnookin last December. The agreement required campuses to restructure 43 DEI positions, among other provisions.

The deal also reversed the $32 million cut but redirected the money toward workforce development initiatives. Under this plan, nursing schools received $4.5 million more, but the UW System's overall budget held flat.

Contact Kelly Meyerhofer at  [email protected] or 414-223-5168. Follow her on X (Twitter) at  @KellyMeyerhofer .