Which Master’s Degrees Are In Demand?
Application numbers for online master’s degree programs have shot up in recent years. It’s no surprise – the master’s is becoming a standard prerequisite for many career paths, and slow economic times are ideal for returning to school. Still, some master’s degrees are more valuable than others. Are people choosing programs wisely?
According to survey data collected by the Council of Graduate Schools between 1999 and 2009, 51% of hopeful graduate students applied to business or education programs. Nine percent aspired to study the health sciences, just 7% of students applied to engineering programs, and only 4% applied to programs in math or computer science.
Students’ educational preferences don’t necessarily mirror the job market’s demands. For example, employers would prefer that many more students pursue master’s degrees in engineering, math, computer science, and health care. In fact, this is reflected in the Bureau of Labor Statistics’ (BLS) top three job sectors for 2008-2018: biomedical engineering, network systems and data communications analysis, and home health care. BLS expects jobs in these fields to experience faster growth than jobs in all other employment sectors. Opportunities for teachers and MBAs are expected to grow at an average rate, and job competition will be especially keen for business grads.
When it comes to choosing a career, it’s important to follow your bliss; if you do what you love, you’ll probably find a way to survive. On the other hand, it doesn’t hurt to consider the job market when choosing among programs. If you’re on the fence between business and engineering, for example, it might be wise to choose engineering or a dual-degree MBA/engineering program. Similarly, if your heart is set on earning a master’s in education, you might concentrate on teaching math, science, or special education to eventually garner higher pay.