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What is a master’s degree?

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By: Genevieve Carlton, Edited by: Rebecca Munday

Published: January 22, 2025


A master's degree is an advanced degree that demonstrates your expertise in a field of study. Master's programs typically require students to complete 30 to 60 credits of coursework, along with a capstone project or practicum experience. Earning a master's degree can lead to new job opportunities, a salary increase, and career advancement.

Benefits of a master's degree

What are the benefits of earning a master's degree? Here are just a few of the reasons people apply to grad school:

  • Gain specialized expertise: Strengthen specialized knowledge and skills during a master's degree by taking graduate-level courses in your field.
  • Boost your earning potential: Earning a master's degree can lead to roles with higher salaries, whether you stay in your current field or move into another field.
  • Qualify for new careers: Want to be a school principal or a nurse practitioner? You'll need a master's degree for these and many other career paths.
  • Advance your current career: Advanced degrees can help you stand out when you're up for promotion.
  • Prepare for a doctorate: If you want to become a psychologist, college professor, or nurse anesthetist, you'll need a doctorate — and a master's degree can help you get into a top program.

Increased earning potential and job security for master's degree holders

You could see an increased earning potential with a graduate degree. In 2023, individuals with a bachelor's degree earned a median pay of $1,493 per week, while professionals with a master's degree earned $1,737 per week, according to the Bureau of Labor Statistics (BLS).

Advanced education can also lead to lower unemployment rates. The BLS reported that, in 2023, professionals with a bachelor's degree had a 2.2% unemployment rate, while those with a master's degree had a 2.0% unemployment rate.

Many higher-paying fields, including business, education, and healthcare, require or prefer a graduate degree. A master of business administration can help business professionals move into high-paying management roles.

Many of the fastest-growing fields require or prefer a master's degree, including data scientist, medical and health services manager, and nurse practitioner.

Typical requirements for master's degree programs

Getting into grad school is the first step in earning your master's degree. But first, you need to know the admissions and graduation requirements.

Types of master's degrees

If you're researching grad programs, there's a good chance you'll see master of arts (MA) and master of science (MS) degrees. These are the most common types of master's degrees, and they're offered in nearly every discipline.

You can pursue a specialized master's degree in fields such as STEM, business, education, health and human services, or the arts and humanities.

Master of arts

An MA typically focuses on humanities, social sciences, and the arts.

  • Master of arts in history
  • Master of arts in teaching
  • Master of arts in communication
  • Master of arts in counseling

Master of science

An MS focuses on the natural sciences and technology. Many business programs also offer MS programs.

  • Master of science in accounting
  • Master of science in information technology
  • Master of science in biology
  • Master of science in finance

How to choose a master's degree program

When choosing a master's degree program, consider your interests and career goals. The right program will align with your professional objectives.

Once you've narrowed down your options, dig into each program's cost, length, and delivery format. Do you prefer an online or in-person format? Can you work while enrolled in the program? And what are your financial aid options?

Then, make a list of your top programs and do more research. Ask programs about their graduate outcomes, student services, and career services. By investing the time to learn about master's programs, you can boost your return on your investment.

Frequently asked questions about master's degrees

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