Earning a bachelor’s degree is commendable, and increasingly important in the workplace. But those trying to stand out as an employee or job applicant should consider attaining an even higher level of education. Many employers want to see a master’s degree, and it may be in your financial interest to get one.

According to a Washington Post report, those with a master’s degree can expect to earn $457,000 more over the course of their career than those with just a bachelor’s degree. Also the number of jobs that require a master’s degree are projected to increase at a much higher rate than other jobs, through 2020.¹

A master’s degree today is as prevalent as a bachelor’s degree was in the 1960s, according to Vox, which also said that a master’s degree in business administration is growing faster than other master level degrees.² In 1971, 11.2% of all master’s degrees were in business. By 2012, that percentage more than doubled to 25.4%.

A Practical Degree

An MBA is useful in fields as diverse as accounting, healthcare, manufacturing, information systems, logistics, telecommunications, retail, finance and banking, law, consulting, pharmaceuticals, hospitality, insurance, and engineering. The degree is increasingly important in business today.

Today, with modern technology, it’s easier  than ever for aspiring students to get a quality MBA degree!

The MBA  is used as a screening tool by employers to find the most qualified candidates with the advanced education necessary for the job. Showing a willingness to invest time and money to get additional education signals to the hiring manager that the candidate is serious about their career.

The University of Scranton’s MBA program offers both  broad-based study in all aspects of business, or a focus in a specialized area such as accounting, operations management, healthcare management, human resources, international business or enterprise resource planning.

The Payoff

According to data from head hunter Career Bliss,³ those with master’s degrees usually earn more than those with bachelor’s degrees. For instance, a business manager earns on average 22% more with the advanced degree than with a bachelor’s degree.

For more information on how an MBA can help you, check out The University of Scranton’s MBA Program.

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Sources:

¹http://www.washingtonpost.com/sf/brand-connect/wp/2014/03/14/overall-trends/
²http://www.vox.com/2014/5/20/5734816/masters-degrees-are-as-common-now-as-bachelors-degrees-were-in-the-60s
³http://www.businesswire.com/news/home/20110817006495/en/CareerBliss-Data-Reveals-Top-10-Jobs-Master%E2%80%99s