Why Now Might Be a Good Time To Consider Getting a Master’s Degree

Sponsored by EDHEC Business School

With the COVID-19 pandemic causing global unemployment figures to rise to unprecedented levels, recent research by UK-based job platform Totaljobs suggests two-thirds of workers are using this time to reevaluate their career choices.

In the same report, 70 percent of workers said they are considering changing career paths entirely, with just over half driven by the desire to either challenge themselves or learn a new skillset.

Although companies are already planning to cut 12 percent of graduate opportunities, along with 40 percent of internship and placement opportunities for the foreseeable, there’s still hope for recent graduates and workers who’re reassessing what steps they should take next.

Many are now considering the value higher education offers when it comes to lifelong learning, improved skillsets and network opportunities, it’s completely justified to question whether it’s right to pursue a degree during these uncertain times.

Know yourself

Look at your strengths and think about areas in which you may want to improve. Maybe you have experience in finance but want to move over to working in fintech more? Or perhaps you feel ready to move into another specialized field of work or develop your management skills?

Master’s degrees in these subjects are some of the most popular – especially considering the technological advances that have somewhat revolutionized society and business in recent years.

Those who have an eye for detail, are both logical and creative thinkers, and have an aptitude for all things tech, are likely to find themselves more resilient in the face of job disruption in years to come.

The Master in Management, Global Economic Transformation and Technology (GETT) program embarks students on a journey through three continents at EDHEC Business School, Paris, SKK GSB Seoul & Bekerley Haas Schopol of Business, University of California to places where innovation and technology are changing tomorrow’s world. 

Playing the long game

The long-term impact of a master’s degree is a legitimate concern that’s shared by many when it comes to their return on investment (ROI). However, promising figures by the U.S. Bureau of Labor Statistics suggest 18 percent of all jobs will require a master’s degree by 2022.

While nobody can really offer a solid prediction as to how the global economy will look in six months, 12 months, or 24 months’ time, having an awareness of industry and market trends is important, as is keeping your finger on the pulse of the employment market.

In recent years, various job roles and specs have become more fluid meaning your expertise, skills and areas of knowledge can lend themselves to a varied range of departments and lines of work.

Do your research and consider your options

There are always going to be cases for and against pursuing a degree in the middle of a pandemic. So before you decide now is the opportune time to do something, it’s crucial you do your research.

A recent LinkedIn article shed an interesting light on whether you should ‘make the move’ and change industries and many of the points it made also applies to whether you should make the move and study a master’s degree. Here are a few things to keep in mind…

How do you fare with uncertainty? Are you open-minded when it comes to change, or do you prefer to keep things as they’ve always been? Take stock of your finances – will you be in a position where you can support yourself if you do pursue a degree? Are you able to apply for some form of financial aid?

Are you committed to full-time studying? Do you know why you’re wanting to do it? Is it to enhance your skillset, develop new specialized knowledge, to boost your career prospects as you look to change industries? Are you looking for an intellectually stimulating challenge?

Answer these questions with confidence and you’ll be one step closer to a master’s degree that can make a difference in your professional career.