INVESTING IN YOUR FUTURE
IS AN EXPENSIVE MASTER’S DEGREE WORTH IT?
In many countries including Singapore, some graduates pursue a master’s degree straightaway after their university degree. On the other hand, others prefer to work for a few years after university – making money, supporting a family and what not – before going for a master’s degree. This article shares the pros and cons.
When to do master’s
Does your first degree limit your job options? You should pursue a master’s degree upon graduation if you decide to switch career paths or industries, or if your first degree is not in line with what you really want to do. For example, you pursued a degree in social sciences or the arts. But now you’ve discovered your true passion – practising law. In that case, a juris doctor (JD) degree is required for you to become a lawyer. JD is for post graduate students without a prior law degree.
Your company pays for your masters
This is the best-case scenario, because it won’t impact you financially; a master’s degree can be costly depending on the university, usually about $50,000 at the very least. If the company is paying for your master’s programme, don’t delay. Go for it before the company changes its policy.
Work first
Get to know the industry you are working in, work for a couple of years first and earn money to support yourself and your family. Then down the road you might be able to get your company to pay for your master’s degree should you decide to take one.
Generally, many companies need you to have a master’s degree in order to recommend you for senior management. Then again, it depends heavily on the type of industry. There are many young adults across various sectors that have gone into management without a master’s degree.