Are Master's Degrees a racket?

[gladhands]

Outside of a handful of fields where the Masters is the terminal degree or the industry standard; MBA, MPH, MLS, MSW, MSEE ect. are masters degrees pointless? If you're going to get that masters in creative writing or biochem, shouldn't you just go in and get the doctorate (for free)? What's the point? More debt? Slightly improved career opportunities?

 

[Eason]

PhD is for people who want to do research. **** a research.

 

[holymadness]

The master's will grow in importance as educational inflation continues. As more people attend universities and get bachelor's degrees, and as more entry-level jobs such as secretarial work require them, the bachelor's degree will become the new high school diploma and the master's will become the new bachelor's.

At the moment, having a PhD can actually be a liability when it comes to getting hired (many firms will consider you overqualified or too expensive). I suspect this will change, too, as more and more people acquire doctorates even though there are fewer teaching positions than ever before.

Of course, all of these developments are part of the higher education bubble that is bound to burst one day.

 

[FunLovinStyle]

Originally Posted by holymadness

The master's will grow in importance as educational inflation continues. As more people attend universities and get bachelor's degrees, and as more entry-level jobs such as secretarial work require them, the bachelor's degree will become the new high school diploma and the master's will become the new bachelor's.

At the moment, having a PhD can actually be a liability when it comes to getting hired (many firms will consider you overqualified or too expensive). I suspect this will change, too, as more and more people acquire doctorates even though there are fewer teaching positions than ever before.

Of course, all of these developments are part of the higher education bubble that is bound to burst one day.

Yup, exactly right.

 

[dragon8]

Originally Posted by Eason

PhD is for people who want to do research. **** a research.

LOL! I assume you don't have a PhD.

 

[Eason]

Originally Posted by dragon8

LOL! I assume you don't have a PhD.
No I don't (currently enrolled for a Masters). My father, (PhD from University of Oxford), always warned me about getting one if my goal was to earn more money, or anything outside of research really.

 

[ComboOrgan]

People with master's degrees in engineering seem to get snapped up pretty quick by industry

 

[GQgeek]

I don't think a master's will ever hurt you, but it won't necessarily help you either. You have to look at your particular field imo.

 

[holymadness]

Originally Posted by GQgeek

I don't think a master's will ever hurt you, but it won't necessarily help you either. You have to look at your particular field imo.
If it doesn't help you then it has necessarily hurt you by taking up to 2 years and anywhere from $10,000-$50,000 to complete.

 

[Connemara]

Originally Posted by holymadness

If it doesn't help you then it has necessarily hurt you by taking up to 2 years and anywhere from $10,000-$50,000 to complete.
Plenty of 2 year master's programs are well north of $100K.

 

[StephenHero]

Originally Posted by Connemara

Plenty of 2 year master's programs are well north of $100K.
Did Cravath pay your debt off?

 

[Connemara]

Originally Posted by StephenHero

Did Cravath pay your debt off?
I had very little as Pton Law gave me a full ride.

 

[enjoiii]

Originally Posted by holymadness

The master's will grow in importance as educational inflation continues. As more people attend universities and get bachelor's degrees, and as more entry-level jobs such as secretarial work require them, the bachelor's degree will become the new high school diploma and the master's will become the new bachelor's.

At the moment, having a PhD can actually be a liability when it comes to getting hired (many firms will consider you overqualified or too expensive). I suspect this will change, too, as more and more people acquire doctorates even though there are fewer teaching positions than ever before.

Of course, all of these developments are part of the higher education bubble that is bound to burst one day.

Just curious, why will the bubble eventually burst?

 

[StephenHero]

Originally Posted by enjoiii

Just curious, why will the bubble eventually burst?
Then: Benefits > Cost Now or future: Cost > Benefits

 

[gladhands]

Originally Posted by ComboOrgan

People with master's degrees in engineering seem to get snapped up pretty quick by industry

RIF

Originally Posted by gladhands

Outside of a handful of fields where the Masters is the terminal degree or the industry standard; MBA, MPH, MLS, MSW, MSEE ect. are masters degrees pointless?