Is it worth it for college grads to pursue a master's degree?
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- čas přidán 22. 05. 2022
- Many college graduates are choosing to go back to school, but some experts are questioning the value of a master's degree. James Murphy, senior policy analyst at Education Reform Now, calls it "the biggest scam of higher education." He explains to CBS News' Tanya Rivero and Tony Dokoupil why that is.
#News #Masters #Education
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I didn't CHOOSE to pursue a master's degree. I am FORCED by job market
Lies again? Help Company Heineken Carlsberg
EVERYONE has a bachelors nowadays. A masters degree is the new bachelors and is almost required now in entry level positions. I do not regret getting my MPH in the slightest.
What kind of work do you do ?
Maybe if you have a bachelors in History or Art? This is not true for STEM degrees.
Please know that the video does not conclude that it is useless to take masters. It's just that it is not useful for everyone. If it is useful for you, awesome! A lot of people can graduate with bachelors and get a good paying job due to their skills, not the "bachelor degree" itself. So the video is emphasizing on "what do you actually learn while taking post graduates" instead of "what job can I get with a paper that says I graduated with a masters degree".
Cos rn sadly, most education are "scam". They are ultimately a business. So their focus is just like other businesses: Generate profits, increase shareholder wealth. Some forgot to really do their job to educate students because of this (although not all education is like this ofc). So make sure you find a place that still remembers their role to educate!
Im currently taking a bachelors degree and I venture through lots of different internships on different, yet somewhat related fields. Im also taking projects that is abit further away from what the university has taught me. Only after doing this I realize that the bachelor's degree only teaches me theoretical stuff, which at the end of the day, is frankly kinda useless. I learn all the practical skills through projects and internships that usually results from my own search and exploration.
To conclude, education is just a tool for you to try and drive yourself to learn new, useful skills, creating a "toolbox" for your future. Education, in itself, is not the toolbox.
*Note Im not trying to bad mouth my university. My university has lots of these kinds of opportunities to learn and develop skills, including a 1 semester compulsory internship. So it's actually pretty good. It's just that if I just follow its normal curriculum without embracing these opportunities, I think I would have wasted 80% of my bachelors degree. But again, they only present you with the opportunity. You need to further search and explore that opportunity yourself.
@@Jeremiahking101 Depends on what STEM. In the machine learning field, less than 25% of the jobs are held by those with a bachelors. The vast majority are PhD or Masters. This is in part why I'm getting my masters.
@@Jeremiahking101it’s also difficult to get a bio R&D with a bachelors in bio, I would assume it’s the same in chemistry
I just graduated with my Master's Degree, and it was worth it. I recommend going into a field that's in high demand, and do your research on the field. I also recommend certifications. You may not need a Master's degree, but additional skills is needed.
Lies again? Modern Dad Religious Father
Thanks for your advice. I highly agree with you.
I'll never regret my masters. 😂 But for real though. I was at a graduation and the number of MBA's was crazy.
Aren’t MBAs hella easy
@@andy_182 Business degrees are ranked among the very easiest degrees. I suppose that's why people whom have totally different undergrad or professional degrees (e.g. Nurses; Engineers) so casually decide to acquire an MBA when they want to become managers in their respective organizations. And we are talking about a degree (MBA) that is so much more prestigious (and so much more rigorous!) than UNDERgraduate degrees in business.
Trust me! Students with undergrad degrees in business do not so casually decide to get the more rigorous graduate degrees (Math; Physics; Statistics, etc...) with no prior knowledge of the subject on a 'whim'. It just goes to show you how much tougher such STEM disciplines are than business studies!
@scholarlyanalyst it depends on the business degree. If it is a subject that teaching more qualitative skills like marketing or management, then yes the degree is easy. But if it is something more quantitative such as accounting or business analysis, then it can be quite difficult. My undergrad is in accounting, and let me tell you it is NO walk in the park. It’s essentially math for business. Not easy. So to say all business degrees are easy is not true, however you are not wrong for many business degrees
I also believe that many of us were fed the statistic as high schoolers that the higher education you go, the more money you will make. This might have been true decades ago but it's certainly not the case anymore (excluding obviously med school and law school). Not to mention the massive amount of student loan debt you will have to take on in order to receive those higher degrees. Also in my personal experience, people who go into grad school are simply trying to offset the responsibilities and bleakness of being a full time worker so they want to return to that familiarity that they had as an undergrad. When you treat education as a commodity instead of a public good you are going to approach a limit where demand is so high that attaining it means nothing anymore.
Something to consider in response to your perspective, I worked full time and did not take out student loans for my graduate program. Also, nearly all of my peers have a graduate degree, that matters b/c one wants to be competitive in the marketplace. Thirdly, graduate degrees are part of your salary calculation. Lastly, in order to specialize (e. g. Nursing, Occupational Therapy, Physical Therapy, Public Health, Pharmacy, etc.) that requires a graduate degree.
Not true at all, i got my masters and im making 300k a year, i bought a home and almost paid off my student debt (i still owe 11k out of 100k),,,im still quite young and my job is quite cushy...i work from home and my future looks better than not having a degree and worrying about inflation and how im going to afford food for my kids. School isnt for everyone but if you know what you want, education is the way
Astute analysis, sir
What masters
I got my MBA part-time for free through my work. Definitely worth losing my freedom in the evenings because I make 25% more now
@bcnicholas123 What sounds harder to your "ears"? 1. Certified Public Accountant or 2. Masters Degree in Statistics?
I use to work at a bank and someone that worked the same position as me had an mba, I just had an associates.
@@scholarlyanalyst7700 How is sounds in irrelevant. The money it makes is the only thing that matters. It is a potential investment, though not a guarantee.
I'm a Speech-Language Pathologist, and a master's degree is the entry level degree for the field.
I have a bachelors in speech pathology. I went to grad school. I got a 4.0 in classes but I couldn’t pass my clinicals, so I was never able to become a speech pathology and I’ve been in poverty since then
@@BlessingsfromBridget I'm so sorry to hear that!! By "clinicals," are you referring to clinical practicum or the Praxis exam?
@@jaiharry7053 My clinical internships
I never took the Praxis
Doing an English Linguistics BA. I'm thinking of getting into a MA programme, but...
Biggest problem is the cost of education in the US. Got my masters for free years ago. But we know that the US has many problems that 3rd world countries don't have, health (care) insurance and student debts is 2 of the biggest. ones.
Transportation too, that's the second biggest cost Americans will have in life. We need more public transportation and biking infrastructure.
That's the only way I'd be getting a masters, I'm not paying all that money for it.
Masters often costs less than undergrad because 36 credits is often required for the program instead of a 120 credits. When I did my Masters, it was more for personal enrichment but I wanted it to help me at my job. So at this point, I probably use at least 40 percent of my masters. From a Master of Public Administration, I apply policy and write up a lot up decision letters. The biggest thing that program helped me with was with my writing and research skills.
Thanks for sharing. I share those same sentiments.
In my experience the credits are more expensive, at my college about double.
I've held a masters degree since 1990 and it hasn't made me one dollar. If I had all of it to do over, I would've apprenticed myself to a tool and die program.
@Awoke Awoke not in the seventies. I took the degrees not knowing that Reagan was going to make them worthless in the 80s.
@@ronaldharding3927 What is your Master's degree in?
@@mathematicaleconomist4943 I hold an undergraduate degree in mathematics and a graduate degree in theology.
@@ronaldharding3927 It seems most companies don't respect undergraduate degrees in mathematics - at least not by itself. However, the finance and insurance fields have much more respect for math degrees. I am sure you've already explored those avenues with no luck?
@@mathematicaleconomist4943 I'm 70 years old, have had two heart attacks and can't work anymore. I have to resign myself to live on the $1300/mo.
Everyone in my area has a masters degree it’s like the new Bachelors degree, no big deal around here. Now you’ll need a doctorate to get ahead and be competitive. I am going for MD myself.
If you have master degree but no experience, they would rather hire someone with only a bachelor but with some experience and they both end up being paid similar salary except the masters student have to take out more loans to get their master. So master is a scam if not stem related major just image getting master in arts.
Definitely not. Depends on what you are doing and what you are focusing on. If you have a masters and you did a stem degree you are using it as a stepping stone towards medical or other higher degree/ very competitive doctorate program if your BS/BA did not cut it. However, you can go straight into a PhD for STEM -with a stipend- and if the PhD fails (in some programs) they give you a masters instead (if you flunk out or don’t make the cut). However, if you’re getting an MBA, that’s somewhat profitable. Don’t get a masters unless you truly 1000% need it. The cost does not outweigh the benefit. Why spend so much…to only get a 3-5K bump? worthless depending on the field.
I can barely afford to pursue a bachelor's degree
Military service = GI bill
Yeah , the costs is the only reason I haven’t gone back but I plan to do it part time over a few years in engineering
Its viable only if you have more scope in your academic journey, As a mathematics major, I want to learn more and keep on discovering new ideas. Some people are underwhelmed when they perceive the grandiose of universe ,others overwhelm themselves. I categorise myself in the second one.
You will keep on discovering new things as we proceed, stacking your ideas on shoulders of giants and the cycle of life will march on. Now its solely depends on your life , whether you take the risk or not.
I am still a student so I don't know repercussion of taking anyones academic journey further ahead but that's how I feel.
A lot of master's degrees are vanity degrees. People that want to say they have a master's degree. My brother in law has one in Philosophy and my sister has been financially supporting him for 30 years as he refuses to work. But he does make sure to tell everyone he meets that he has a master's degree. They can make sense if you are a career changer. If your undergrad doesn't pay well or you want to enter a new field, it makes sense to go for a master's in accountancy or a physician assistant masters. Otherwise, it's just a diploma to hang on your wall and (not) impress your friends.
LMFAOOO I’m sorry this was funny😭
Damn😂
30 years? What a sister. Brother's just leeching out of her
Most of the graduate students are non Americans in general and Asians in particular. The international students are getting ahead
When the recession in 2009 hit, no company wanted to hire those straight out of college, they wanted 5 years experience or a Masters degree. They did not even accepted internships as experience. I went to graduate school as I was told you can make more money and seem more marketable. Fast forward 5 years, companies don't get care about Masters Degrees and even though they mention it as well as Bachelors, they will pay you as someone just for having a BS. I had to get a second job to pay my loans and decided to go to another industry that cares and pay alot more. I did both degrees in Science.
This reporter's findings does not reflect my experience or the way things work in my industry.
I have a buddy who did a BS in biochemistry. Published a couple papers in u undergrad and did research since freshmen year. His resume was good enough to get an entry level job out of college. He didn’t need a masters. And his experience more than paid for the requirements. The issue is that companies will nickel and dime you, even with a master, and will come up with excuses to pay you less or not hire you over a candidate if you stand up and say, this is my fair wage…and the other dude even tho he sucks will take whatever. But they pay what they get, so….I guess it depends on your networking and overall vibe. I had no issues and I did research as an undergrad and find it okay and unnecessary to spend on a masters. Might as well do a PhD. A PhD program also does not require a masters.
@@AlexZ-lc6nl I am currently applying for doctoral program for 2023 admission. Also, I have a masters degree which I DID NOT pay for with student loans, I worked full time and used employer tuition assistance and paid the remainder out of pocket. I will not use student loans. All of my peers have graduate degrees. Personally, even if I was a great employee as you described your friend is, I would want to have comparable credentials to my peers. I REALLY enjoy my field and want to continue to study and advance in my subject area.
@@AlexZ-lc6nl I also did research from junior year all through graduate school. Presented numerous presentations all over the United States and have a huge network. I was even told numerous times my resume on LinkedIn was impressive yet never got offered a job. The environmental field did not work for me so I went into transportation.
@@anaroman1499 I am so sorry this was your experience. Shortly after seeing the BUSINESS that education is in the United States now more than before, I realized a cost/benefit analysis was worth my time more than hoping on gaining diplomas on the wall...that collect dust while I frantically search for a job that does not pay in return to the initial investment. I am at least hoping you found a place where you at least now feel the gains from your investment. For some things, school truly is-overrated. cheers.
In 1990? Maybe… in 2022? No.. even the effect of a bachelors degree has weened off. If I could go back in time, I wouldn’t have graduated in Chemical Engineering. I would have done something with computers or trades. Right now, even a truck driver with a cdl makes the same salary as an engineer.
The graduation assistant scheme helps Masters degree cheaper. Most Masters students don't pay school fees, but certainly cheaper than Bachelors degree in cost
You should only accept a graduate school program if you are paid to attend. There are some, like he said, in stem fields that will pay you ergo no debt. He should have given a list of some graduate school programs which he considers scams.
EARNED A B.S. in 2 1/2 years while working full time just to get my foot in the door at a corporation (needed it back in the day). Making over $350k now. Not worth going back to school.
How did you finish a bachelor's degree in 2 1/2 years? And what type of work pays 350k?
@@kensmith2796 How? 1) Tested out of a few classes. 2) Taking 18-22 units a semester. 3) Also took a full workload during the summer. What do I do now? VP of I.T. at a large investment company. Note: I had zero personal life while I going to school.
@@ericinla65 Sounds like you know how to BS your way through the tech industry. I know many people like that, but if you get a STEM degree from a top tier university, you will spend 80 hours a week just to get a C taking 16 credits a semester. Just depends what you go into, but CS classes are no joke. There were a few classes that I spent over 30 hours a week on to get an A or even a B.
Depends on the degree. No one can tell me a art masters is worthy of a PA masters 🤣 or any stemmy in general
People are going from undergrad straight to grad school partly to extend their childhood.
Yeah it’s called forever school. Was going to do the same thing too (I’m currently graduating with a bachelor in finance ) and I’ve looked at things and I’m realising I’m going to need money more than anything else, so I’m considering starting a business, oddly enough, I feel I have better chances with starting a business as compared to getting a job.
@@sisandasibanda3306 I own a business. You're better off on your own.
That's what they're doing here in the UK, and in the Netherlands.
Wait, we were getting BAs just to be well rounded? ☠️
James loves to hear his name
It depends i know college students we do the same job with them and i never gl in college but they did
SOS...Can anyone Help me? I have bachelors in IT degree which i completed 2 months ago. I am doing coding. Should i do a masters like in data science or AI..???
I’m only getting my Associates Degree because the state of California is paying for it. I agree with others saying I should not have to pay for an education. Im thinking of going into this nursing program that pays you to go to school. My friend put me onto the school and she makes pretty good money.
If an employer benefits so much for an employee having a Master's degree, why don't they pay for it themselves?
While I believe an MBA or Master's can aid you, it's not worth going i to debt for the degree.
I am still going to pursue another 4 years after my BA so I can be an attorney, irregardless
**Regardless
They're talking about grad school not law school.
@@hashiramasenju6058 law school is grad school 😂
Why are so many foreign students being given scholarships?
Don't waste your time and money if you are smart enough for the STEM or professional degrees.
I have a Masters in HVACR 😎🤷🏼♂️
The key thing he said was stem programs. An online computer, math, medical or MBA will be worth it
Following his criteria of "What skills will you learn? What other than networking will you gain?", would MBAs be worth it?
No
A lot of reputable programs only want full-time day students, not part-timers who could fund the degree as they go and already have an industry job. Even in "practical" fields, it seems like the goal is to produce as many post-docs, adjuncts and research assistants as possible.
If you're more than a few years removed from undergrad, it's a hassle to get back into school and another hassle to reintegrate into the work world after. But going straight from undergrad, you don't have the work experience to get a good job after.
people always tell you to pursue a master's degree if you did not major in stem
I agree! A big scam…. Not worth it.
Not every subject is wasteful. If you are a white male these days, it is hard to get past angry feminist, gay, and ‘anti-racist’ HR, regardless of your qualifications. You may need to get another degree in a subject where women, gays, and minorities are not favored, where there is a labor shortage that will outweigh any of the roadblocks erected by the woke. Math, science, computers, business, finance, engineering, construction, etc. are all worthwhile pursuits where meritocracy is still favored. Don’t make blanket judgements. Not all degrees are in useless fields.
I agree 💯 and I have a graduate degree
Only if they can afford it..if not,,,,no
Watching as a Masters Student...
Good thing that many countries offer free higher education though ✌🏻
It isnt free, someone had to pay for that. You will be up to your eyeballs in taxes in those countries
@@sew_gal7340 does "not getting charged a single cent for higher education" sound better to you?
@@Ma-id1nl yes it is more honest
But it isn't free.
@@sew_gal7340 People like to think it's harder, but the reality is, people in France pay on average less taxes than in the US, and they have free healthcare and free college education. The difference is the wealthy pay taxes, where as in the US, once you make over a certain amount, there's loopholes for you to avoid taxes, like orange man, who says not paying taxes "makes me smart". I pay around 35% taxes to make a wage that HUD calls "in poverty", while in France, the average person pays around 30% in taxes.
A MA in History, not so much.
In South Asia masters bachelors r much cheaper than USA
Quite the caveat there, needs to change title of his “book”…
You may not end up with a job afterwards
I would like to have a master degree one day.
Will Millennial and Generation Z reach to Master Degree?
well
How does a senior engineer benefit from a masters
Depends what that "senior engineer" wants to do. I'm working on my masters now because the AI field requires it. Less than 25% of the jobs are held by bachelor degree holders.
@@heyaisdabomb thats a fair example but most i see get masters like mba or engin managament. Or systems engineering none of these i can see value in
I have been saying this for so long , finally people know.
Wow he said what ive noticed! About race! I told my wife why are all these master degree ads with black folks i feel like they are tryna trick me
If you dont know what to do with the bachelors or master's degree, then you're it's going to be useless. You have to know what there is for that before you even think about getting that. They told you in this video...to me its worth it. And a person with this will always earn more than a person without.
He's not wrong! AT ALL! Spot ON!
Nope 👎
Laughs in G.I Bill 😂
School is overrated
I guess that depends on the person. For many absolutely but not for me. I mean there’s no way around if I wanna be a physicist and do research on some quantum theory.
Dont major in lesbian dance theroy is the advice.. your welcome
we don't need skool. looting is our trade. we iz experts.
MBAs are a waste