Are Master's Degrees a racket?

Discussion in 'Business, Careers & Education' started by gladhands, May 1, 2011.

  1. Meis

    Meis Senior member

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    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.
    +1
    Then: Benefits > Cost Now or future: Cost > Benefits
    Exactly. In the last 10-20 years the cost of higher education has skyrocketed, while the income for people with those degrees has stayed the same or risen at a much slower rate. Then add in the current unemployment issues.... which makes it much worse - theres a sizeable chunk of recent grads with jd's, mba's, and other master's degrees that can't find jobs. It's no longer a guarantee that even an advanced degree will get you employment (just lots of loan payments...).
     


  2. holymadness

    holymadness Senior member

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  3. holymadness

    holymadness Senior member

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    The other side of the equation is that the 4-year degree is worth less and less. It is considered an unpardonable sin to not go to university these days, and as more and more kids obtain bachelor's degrees we have less and less place to put them; there simply aren't enough "creative" jobs to handle all the people who want to be writers, biologists, political scientists, campaign advisors, graphic designers, etc. So we give them jobs as secretaries and 'administrative assistants', promising that these are entry-level positions that can lead to advancement in the company. That is largely false, of course, but it has had the side effect of making degrees obligatory for what practically amounts to unskilled labour, thus forcing even more kids to go to university and perpetuating the cycle. Interestingly, I hear from my business contacts that they are fed up with their admin assistants these days since none of them actually do secretarial work; instead they have ambitions get promoted and work on big projects. Heads of departments are forced to book their own flights and write their own letters for the first time in decades. [​IMG]
     


  4. Catalyst

    Catalyst Well-Known Member

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    The master's will grow in importance as educational inflation continues.

    This is a very interesting idea.
     


  5. scientific

    scientific Senior member

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    the OP here is such a poorly posed question that I'm appalled this thread has reached 2 pages
     


  6. eg1

    eg1 Senior member

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    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.

    I completed my Master's in 8 months. [​IMG]
     


  7. Jbreen1

    Jbreen1 Senior member

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    I agree with a lot that has been said here. As a recent graduate of a business bachelors program, I'm seeing that a degree isn't as important or prestigious as I thought it was leaving high school. It seems most companies don't really care about you unless you went to an ivy league/tier one school. A bachelors is the new high school diploma. I'm already considering getting my masters because I'm quickly realizing that I need to take another step to set myself apart.
     


  8. O'Higgins

    O'Higgins Well-Known Member

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    I have a M.Div........other than personal growth, it was worthless....Not much call for someone who can read Classical Hebrew or Koine Greek. [​IMG]
     


  9. Ropavejero

    Ropavejero Active Member

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    I have a M.Div........other than personal growth, it was worthless....Not much call for someone who can read Classical Hebrew or Koine Greek. [​IMG]

    The standard seminary Master of Divinity (M.Div.) is a professional degree awarded upon completing a three year study course, which incudes the languages you mentioned, and demonstrating competence in all practicum training (i.e., Clinical Pastoral Education/Field Experience) and internship assignments, depending upon you church denomination may be anywhere from a few weeks to two years (e.g., Lutheran seminarians must serve be a "student minister" known as a "vicar" for a "vicarage" lasting at least one year and two if assigned to a foreign mission field between Middler and Senior years). That said, assuming you completed all of the requirements for ordination and are still engaged in you chosen church vocation, I don't believe you can say it was "worthless." If you have left church ministry, decided you didn't have a "calling" after all, and are trying to pursue a different secular career, then the M.Div. on resume will stick out like a sore thumb.

    As a J.D. in the overcrowd and over glamorized legal profession I have a lot of respect for the success seminaries have had at keeping out multitudes of young college graduates, who just don't really know what to do in life. Such folks, who would never even consider seminary, jump onto the law school bandwagon, keep tuition rates skyrocketing out of control, fund their entire education on loans without any forethought as to how to repay the money, complain when offered a entry level position paying only $25,000.00 as starting salary, and prove to those of us who have been around a few years they have not a clue as to how to handle a case (i.e., I just got finished listening to a gentleman relay how his lawyer, who graduated in 2006, never scheduled an office appointment, told him to fill out the paperwork and "just send it in," met him for first time five minutes before the scheduled hearing, asked no cross examination questions during the proceeding, and, of course, now suffers from an unfavorable decision). At any rate, people pursuing an M.Div. put so much more thought into their career choice and decision than the multitudes seeking the "magic" law degree to help them make a hundred thousand dollars one year after graduating!
     


  10. O'Higgins

    O'Higgins Well-Known Member

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    The standard seminary Master of Divinity (M.Div.) is a professional degree awarded upon completing a three year study course, which incudes the languages you mentioned, and demonstrating competence in all practicum training (i.e., Clinical Pastoral Education/Field Experience) and internship assignments, depending upon you church denomination may be anywhere from a few weeks to two years (e.g., Lutheran seminarians must serve be a "student minister" known as a "vicar" for a "vicarage" lasting at least one year and two if assigned to a foreign mission field between Middler and Senior years). That said, assuming you completed all of the requirements for ordination and are still engaged in you chosen church vocation, I don't believe you can say it was "worthless." If you have left church ministry, decided you didn't have a "calling" after all, and are trying to pursue a different secular career, then the M.Div. on resume will stick out like a sore thumb.


    I was a bi-vocational priest for a while. ( Episcopal) I am still ordained and might work P/T, volunteer, in the field when I retire this year from teaching. The problem is my denomination has gone through a massive political and social changes since I graduated in the 1980s.
    BTW: To my surprise, it never hurt me in an interview except once in a small East Texas school. I was asked "What is an Episcopalian?" " We have Baptists and Pentecostals in this HERE district." Needless to say I didn't get the job, but was hired by a better paying district next door.
     


  11. imschatz

    imschatz Senior member

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    About to finish my 10 month, MA in Economics.

    Completed it in the alotted 10 months, with $12k in debt (living expenses and tuition). Had I waited one year, I would have qualified for $20k in funding.

    Was it worth it .. I would have never been competitive for a job I liked without it. A BA in Economics would get you as far as branch management at a local bank, or bottom of the ladder policy work for the gov. Neither places I want to be.

    When I officially enter the labour force in 5 weeks, I'll have a better idea on what value it was. But so far, I've been qualified to apply for a few very interesting sounding jobs.
     


  12. thekunk07

    thekunk07 Senior member

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    hs diploma is the new ged
    bachelors is the new hs diploma
    masters is the new bachelors
    phd is...um...
     


  13. mfrege

    mfrege Senior member

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    phd is...um...

    the new Starbucks entrance requirement.
     


  14. lastlight

    lastlight Senior member

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    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.


    This, my field a Master's is a necessity to make anything decent (social work) for income, or any job that is semi-important. Nine months for 30k more a year in front line work, as well as opening up policy, public planning, urban social planning, public service management, getting your RCC to be insured as a counselor, etc. Very versatile and well worth it.

    However knowing people doing Masters in Medieval lit is another story.
     


  15. WhateverYouLike

    WhateverYouLike Senior member

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    In science engineering fields at least, a Masters usually only takes one year and is an extra 20-40K a year.
     


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