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How A Master's Degree Can Boost Your Paycheck by Andrew Stratton





How A Master's Degree Can Boost Your Paycheck by
Article Posted: 03/19/2014
Article Views: 139
Articles Written: 5522
Word Count: 440
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How A Master's Degree Can Boost Your Paycheck


 
Education
When it comes to gaining an upper hand in a negative job market, education matters. Obtaining a master's degree can mean the difference of thousands of dollars in annual income. Thankfully, you don't have to look far in order to get that degree, as community colleges are now offering advanced educational programs.

When it comes to jobs and the future of job growth, the Bureau of Labor Statistics (BLS), notes that jobs requiring a master's degree are expected to grow 22% between now and 2020. When it comes to salary, people age 25 and older with a master's degree can expect to take home a paycheck $1000 more a month than those with a bachelor's degree. The income gap is even greater, a discrepancy of nearly $2200, when compared to those with some or no college education.

There are other statistics and business trends to add to the reasons why an advanced degree can be a career boost. When it comes to hiring, as recently as 2011, 86% of those earning a master's degree had job offers almost immediately upon graduation. More notably, when employers were surveyed, more than half said they plan to increase base salaries for recent MBA graduates hired; some stated salaries could be as much as 11% above the rate of inflation.

So, what direction do you go with those new initials behind your name? Over the next 10 years, careers in both healthcare and social assistance are expected to increase for those with the advanced degree. In fact, an MBA is often required for a variety of jobs in healthcare, including everything from administrative positions to healthcare project managers. However, if healthcare is not your forte, there are other fields where growth is expected - IT Management, Financial Management and Advisors, Human Resources, Management Analyst and Marketing Managers.

When it comes to time and juggling work-life balance, you should don't need to worry about taking time off work to earn your next degree. Institutions typically hold classes in the evenings and you can obtain a degree in as little as two years. Other growing alternatives have adults turning to the internet, completing course requirements via accredited online programs. Convenience, flexibility and time management are certainly things to consider for someone pursuing their MBA via the internet or a classroom setting.

So, for anyone considering career choices, and how to make a move, gaining an edge on your competitors may mean earning an MBA.

Ready to earn your master's degree? Annville, PA area residents can dive into their career with a degree form Lebanon Valley College MBA Program. See the possibilities here: http://www.lvc.edu/mba/.

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