Is Going for a Second Master’s Degree Worth It?

 

Life is full of choices. The most important ones you probably make in your late teens and in your twenties. One really important decision you will have to make is regarding your career path.

What major do you choose? Do you apply for an internship? Is a first master’s degree worth it? A second? How about a PhD? A good way to make these kinds of decisions is working with checks and balances.

What Is It Worth to You?

When deciding on matters, start with yourself. What matters to you? If you care about making as much money as you possibly can, as fast as you can, going the academic route may not be for you. If you care more about gaining knowledge, it will be. If you simply love college life, then you might as well.

Other important factors are of course time and money. Education is an investment in a lot of aspects, but especially financially.

A Second Master’s Degree Versus a PhD

Both a second master and a PhD are ways to gain knowledge and personal growth. All in all, they can add great value to your resume. Depending on the field you are in it can increase your chance of landing that ideal job. But there are a couple of ‘pitfalls’.

Going for a second master’s degree can come with some unwelcome assumptions. It might lead to an image of being an eternal student or of someone who is not entirely focussed. In what cases should you still go for it?

● The value decrease or increase a second master’s degree brings to your resume does not matter to you. You enjoy going to school and you have the means to go (meaning you do not create a mountain of debt).

● The second master’s degree complements your already earned degrees. In a job field that works with multiple disciplines a second master’s degree might lead to you standing out in the group of applicants.

● Your interests lie in more than just one academic field. You want a deep(er) understanding in multiple topics.

● The job market in your field is less than optimal. But in this case, better options might be an internship or a PhD.

When you go for a second master keep in mind it costs quite a lot of money. Look into going to a school abroad. It might be a little cheaper. And if you fear serious debt, again think about a PhD.

A PhD focusses on research. It is a way to stay in school and earn money for it as well. Because in most cases you will receive a financial compensation for your contribution to the particular research your working on.

A PhD is often a way of further deepening your knowledge on an aspect within your field of studies. This is an ideal route for aspiring scientists. But while doing a PhD most likely will not add to a mountain of debt, it will not make it rain money either.

Your Value On the Job Market

Making a decision will get easier when you have your goals in sight and if you know what to do to achieve them. When it comes to your career, you will need others in one way or another to get where you want to go. Do not forget to keep in mind what employers want, need and seek for. Step in their shoes and think about what would make you attractive to them.

Will more degrees, or in this case a second master’s degree, increase the value of your resume? You can find the answer through a little research. If the answer is yes, then it is definitely worth it to stay in school for one or two more years.