It is no secret that earning a masters degree is the need of the hour and also a guaranteed pavement for a hike in your pay. Since graduate studies require a major commitment of time and money, the return of the resources invested becomes cardinal to every job aspirant.
Although a masters degree is going to get you to earn more than just a bachelor's degree, it is no big news. According to a recent study by Digest of Human Statistics, the number of people doing a bachelors degree in 1967 is the same as the number of people pursuing a masters degree today.
Since the number of students pursuing a masters degree is growing exponentially, so is the increase in competition in the job market. Due to the budding interests of students wanting to pursue higher education in varied fields, colleges are evolving their master's program and are targeting to provide a graduate degree in almost every subject.
While treading on the path towards acquiring higher education, the big question arises that- why you want to pursue a master's degree?
Are you someone who wants to pursue a graduate degree to have a deep, insightful knowledge of his subject and are focusing on the educational gain?
Or someone who is looking forward to earning a master degree in order to build the relevant skills and get trained for a specific job role?
Whatever be the reason for your willingness to pursue a masters degree, it is essential to understand the choice of graduate degree you are likely to pursue and the field it is associated with! Perhaps, if you are someone who is looking for a boost in your salary via a masters degree, then this article must come handy to you.
Here is a list of the top five masters degree that is likely to get you a really high paying job-
1.Masters in Data Science
A masters in Data Science has been regarded as one of the most in-demand degrees of the 21st century. Data Science revolves around the application and analysis of large data, data mining, data processing in order to develop tools to communicate and maintain intelligence in businesses.
An MS in Data Science from an international university is itself a great start to your career let alone the job role you fit in. As a Data Scientist, your median salary will revolve around USD $92,500 after an MS in Data Science. Not only this, Data Scientists is referred to as “of the sexiest job” of the 21st century and the field favors a lot of growth throughout.
Possible High paying job roles- Data Scientist, Data Analyst, Analyst Manager, Business Analyst, Business Intelligence etc.
2.Masters in Finance
A Masters in Finance is often referred to as MFin or MSc in Finance, is a degree typically associated with providing individuals a deeper comprehension of financial studies and aims at developing leadership skills to manage the finances of a business or organization in an efficient and strategic way.
With a graduate degree in financial studies, your highest position can be a financial manager with a median earn wage of USD $117,900 according to BLS. Whereas, as a fresh graduate, you are likely to work as a financial analyst and your average salary might revolve around USD $80,310.
Possible high paying job roles- Financial Manager, Financial Advisor, treasurer, Compensation and benefits manager etc.
3.Masters in Marketing
Marketing has turned out to be a nitty-gritty in order to have a successful venture. With the increasing popularity of the skills of marketing being used in almost every organization, it is vital to understand the perks associated with a graduate degree in marketing. A master in marketing can be an MS or an MBA degree as both of them focuses on equipping students with developing creativity and incorporating leadership relevant to comprehend customer relations and provide a deeper understanding of the market and its needs.
The average salary of a marketing manager with a master degree revolves around USD $95,826- $104,026. However, the earning wage might vary accordingly, but a high pay is a guaranteed perk with a masters in marketing degree.
Possible High paying Job roles- Advertising and Promotions Manager, Sales Manager, Public Relations Manager, Product Manager etc.
4.Masters in Business Analytics
A Master in Business Analytics is turning out to be a very competitive but promising degree amongst the students nowadays. With the recent outburst in technologies like Big Data, Hadoop, Data Mining etc; the call for business analysts in the market has been rising ever since.
MS in Business Analytics is a premium program designed to dig out leaders who have the potential to develop predictive techniques and make data-driven decisions. The program focuses on equipping the individual with insightful knowledge of business analytics and provides an intersection between business and technology.
As a graduate in business analytics, you are likely to earn around USD $ 65,000 annually.But always remember, the salary greatly varies with the job role you are designated to and there’s always a room for promotion in such fields.
Possible high paying job roles- Management Analysts, Operations Research, Analysts, Mathematician and Statistician, Big Data Analysts Specialists etc.
5.Masters in Business Management
A master in Business Management is popularized by the name ‘MBM’ and is a degree falling under the generalized category of “Masters in Business”. Prospective students are at the liberty to pursue an MBM degree straight after dropping out of their undergraduate studies and require no prior work experience, unlike the generic MBA.
The MBM degree has so far been extended in all areas of study including science, business, humanities, engineering, Economics etc. The idea of an MBM degree revolves around developing managerial and leadership skills among young individuals in order to have a great kick start towards a successful career in business management.
With a degree in Master in Business Management, you are likely to earn a high paying job right after your graduation. The average salary of an MBM graduate from a reputed B-school is around USD $98,000 but may vary specifically to your job role.
High paying Possible job roles- Chief Executive Officer (CEO), Chief Financial Officer (CFO), Operations Manager, Director of Operations, Vice President – Operations etc.
Anything that is worth having, does not come easy. The above mentioned jobs are very lucrative but highly competitive.
These jobs not only require high level of skills and qualifications but also require confidence, knowledge and competency to crack the interview process.
If you are really passionate about the field and you have done your homework right, you should be able to get through the toughest interviews and land your dream job.
Abhyank Srinet holds a Masters in Management degree from ESCP Europe & has an engineering degree with a specialization in Instrumentation & Control. His interest in the digital
landscape motivated him to create an online start up for Masters in Management application consulting (MiM-Insider.com), focused on spreading quality information about the MiM degree & performing application consulting services for clients. He is the chief consultant of the company and takes care of Business Development and Digital Marketing side of the company. He is very passionate about writing and marketing.