The World of Advanced Degrees

The way we look at educational attainment has changed in the last decade or two. A 2015 survey found that 8 percent of Americans now have master’s degrees, which translates to about 16 million people. The master’s degree is the fastest-growing college credential right now. The number of master’s degrees issued has shot up 43 percent since 2002, which was the year some of the earliest members of the millennial generation graduated from high school and entered college. A master’s degree in today’s era is about as common as a bachelor’s degree was in the 1960s. If you decide to seek out additional education after obtaining a bachelor’s degree, you’ll have plenty of company.

The Sciences

Not every master’s degree will lead to a more lucrative job. Degrees in science and business are among the most valuable. They tend to lead to higher pay and better job satisfaction. By contrast, people with advanced degrees in graphic design, interior design, and early childhood education are more apt to report lower pay and unsatisfying jobs.

Some fields are also growing faster than others, and that makes an online data science degree a good choice for those who already work in a similar field or have an interest in changing careers. A data scientist has to be knowledgeable about the fields of business and engineering. That can be a tricky combination to pull off, but with the right coursework and a single-minded devotion to improving yourself, you can set yourself up for a nice career.

An online degree also gives you the chance to learn at your own pace rather than requiring you to be in a classroom every Tuesday and Thursday from noon to 2 p.m. People who obtain online degrees need to be self-starters who don’t require a lot of outside prompting, and that label doesn’t apply to everyone. However, if you have no trouble finding your own internal source of motivation, you’re already off to a good start as you pursue a career in data science.

Business

As of 2014, the most popular master’s degree was the Master’s of Business Administration, or MBA. It accounted for just over 25 percent of advanced degrees, surpassing education for the first time ever. MBAs are seen as carrying a high return on investment, and those who work in business love getting a good return on investment, or ROI. An MBA is considered a pretty safe bet, although not all MBAs are created equal. We can’t all get a business degree from Harvard or Stanford, but a business degree from a well-known state school can also act as a signal to future employers that you know what you’re doing.

An online MBA sets you up for a rewarding career in business without requiring you to upend your life to return to school. Just beware of the diploma mills who prey on unsuspecting students.

Going back to school for a master’s degree often means taking out student loans, and it would be a shame to take out loans for a degree that’s not worth the paper it’s printed on.