Uncovering the True ROI of a Graduate Degree

Whether you are just finishing your undergraduate degree or are a working professional considering going back to school, you may be wondering: Is a master’s degree a good return on my investment?

There are a lot of variables. While advanced degrees require time and money, they may also afford future benefits, such as wider career potential and higher salary.

Here are a few of the other ways a graduate degree might enhance your career that you may not have considered yet.

Add to your professional skill set

A graduate degree equips you with specialized knowledge. Graduate courses both offer you an increased number of occupational skills and help you to focus and refine them. Your degree provides you with a competitive edge, helping you to stand out among a pool of qualified applicants. It also shows that you are dedicated to your field and interested in making significant, unique contributions to it.

Increase your professional opportunities

If you desire to be a leader, a master’s degree can also provide you with the opportunity for advanced leadership and managerial positions. Obtaining a master’s degree is an impressive accomplishment. It requires dedication, time management and responsibility. Combine these attributes with an increased skill set to leverage, and you’ve set yourself up for a promotion. Some professions also require an advanced degree. In fields such as health care or education, a graduate degree will provide you with the credentials needed to move into your desired position.

Build a network

Graduate programs can also increase your professional opportunities through networking and applied learning. In a master’s or doctorate program, you interact with a wide variety of students who share your drive and passion to advance their understanding of the field. You’ll also make connections through fieldwork and internships in your graduate coursework. Professors who teach grad-level courses are highly qualified, often with on-the-job experience, and can offer you direction, advice and personal connections as you pursue your professional goals.

Increase your earning potential

One of the most obvious benefits of a master’s degree is the opportunity to earn a higher salary. According to Indeed, the earnings increase from the bachelor's level to the master's level is approximately 20%. Some fields can expect even higher increased salaries, including degrees in biology, life sciences and the health industry. While financing graduate school is an investment, the potential for significant increases in compensation may offer you more than a fair return. Research your specific field to see how much a new degree will enhance your earning potential.

Make a career change

Thinking of a career change? You’re not alone. According to HR Drive, about 58% of workers responding to a recent survey said they’re looking to make a career change right now, and another 25% have already tried or successfully made a change recently. If you are ready to make a switch, a master’s degree can be your ticket to a new and more fulfilling occupation. A graduate degree will give you the training, skills and credibility needed to break into a new career.

Increase your job security

Earning a master’s degree impacts job security. The job market is always evolving and employment in master's-level occupations is expected to grow by nearly 17% between 2016 and 2026. In a job market that is favoring advanced degrees, obtaining a master’s can help you retain your job as well.

So is a graduate degree worthwhile?

Yes! While the potential for increased compensation is the most obvious benefit of a master’s degree, there are so many other ways to see a return from your graduate studies. A master’s degree can increase your access to professional connections, jobs and promotions. You’ll pursue what you love in graduate education and enhance the skills required to make a difference in your field. The value of a graduate degree is seen in benefits that can last a lifetime.

Thinking a graduate degree may be right for you?

The next step is finding a graduate program that fits your unique needs and will set you up for success in today’s marketplace. At Sacred Heart University, you’ll find a host of options—from full- and part-time to hybrid learning and wholly online degree programs. You can broaden your skills and knowledge through master’s and doctorate degree programs and advanced certificates in health-care professions, business, technology, social work, education and much more.

Want to learn more?

To learn more about SHU’s graduate programs, talk to our team of admissions counselors, either virtually or in person, each of whom specializes in specific programs. Email gradstudies@sacredheart.edu, call 203-365-7619 or schedule an appointment today.