To be successful in the business field, one has to possess a plethora of technical knowledge and intangible skills. That way they can properly negotiate, manage partnerships, and effectively reach objectives. Before entering the workforce, however, most entrepreneurs attend institutions of higher education to obtain their degrees and land an entry-level role. While doing so, it is not uncommon for them to run into questions surrounding a potential master’s degree. More precisely, they may start wondering if they will be able to attain the desired levels of success without extending their education.
Although the answer requires some research, the usual response is normally going to be a clear-cut “no.” A master’s degree in business is an outstanding credential that will make someone’s career more lucrative. It will also allow them to seek employment with more companies. Nonetheless, those who decide to end their academic pursuits with a bachelor’s degree will have a nearly equal chance of enjoying a prosperous career.
Seldom a Mandatory Requirement
In terms of business-related jobs and hiring requirements, there are very few that will demand a master’s degree from the applicants. One example of such uncommon practice is the accounting market in states such as Texas. For instance, someone who is applying for CPA jobs in Texas will need to have a CPA license. To get that license, however, they must have over 150 college credit hours, 30 of which come from a graduate program such as a master’s in accounting. Regardless, this type of eligibility situation is extremely uncommon and most states do not have minimum thresholds for credit hours conditioning professional licensing.
Since a master’s degree does not momentarily make one a successful businessman or woman, why do millions of Americans continue to pursue it? Well, according to the Bureau of Labor Statistics, there is a long list of outstanding benefits connected to it. Some of the most obvious ones include a noticeable spike in the starting salary, additional job opportunities, and excellent upward mobility that facilitates faster promotions. When combined, these advantages will help one enjoy a very lucrative career that features hefty compensation, exciting projects, and a lot of exposure to leadership roles.
Weighing the Options
Before anyone can truly answer the question of whether they should seek a master’s degree in business, they must weigh their options properly. On one side of the scale, the significant cost of tuition and fees tied to these programs has to be considered. This is where the time that will go towards studying instead of working will also go. On the other side, they can place all of the aforementioned benefits. After weighing those two, individuals who believe that the positive outcomes exceed the necessary inputs should go into graduate studies. Those who do not share that vision should simply enter the workforce and re-consider getting a graduate degree later on.
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Each particular master’s degree should also be approached on an individual basis. The reason why is the fact that programs such as MBAs are much more valuable than advances studies in business communication, per se. Nonetheless, anyone who stays far away from graduate programs can rest assured that they can still be very successful in the business field.