For many prospective graduate students, improved employment prospects and earning potential are major motivators. But how can you make sure your master’s degree gives a good return on investment (ROI)?
If you want to reassure yourself that studying a master’s degree makes financial sense, there are plenty of studies and statistics around to support this. It seems that overall, graduates with a master’s degree tend to fare better than those with just a bachelor’s degree, who in turn have better prospects than secondary school leavers.
But don’t assume employers will automatically be impressed by an additional line on your CV. In fact, depending on the sector, you may find a year’s relevant work experience holds more value than a master’s degree when viewed through recruiters’ eyes.
Ultimately, the return on investment you get will depend on your ability to choose the right program, make the most of opportunities both within and beyond the course, and – perhaps most importantly of all – to effectively market your skillset to prospective employers.
1. Consider your target labor market
The first step is to consider what kind of role you’re aiming at. You can then research requirements listed in job adverts, typical backgrounds of those already in your desired role, and the skills which are emphasized by companies you admire.
For some sectors or roles – such as those requiring highly specialized knowledge or with a strong focus on research – a master’s degree is (either formally or informally) viewed as essential. In other cases, you may find a master’s degree has simply become the norm, within an employment sector or across an entire society.
If this is the case, to make sure you get a good ROI on your studies, you’ll need to find ways to differentiate yourself from other master’s graduates. This could mean choosing to study internationally and/or selecting a program which focuses on an emerging or high-demand specialization.
On the other hand, you may find your target role is entirely achievable without a master’s degree. Assuming you’re still keen to pursue a master’s, you’ll want to ensure it gives you a good ROI by convincing potential employers of the added value it’s given you – perhaps negotiating a higher starting salary or set of responsibilities as a result.



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