Pros and cons of doing a Masters

[Wintom]

Lots of young people are choosing to do Masters rather than go directly into work.

If your DC has done this what were the pros and cons? Having two student loans to pay back must be crippling on the pay slip in 10-15 years time.

I did a masters 28 years ago, pre children, whilst doing my job (work paid for half) but it has not impacted my career at all. I did it because I still craved 'learning' and loved studying.

Has a Masters degree made a big impact into your DC's employability?

No, I am still here. DC is going into their final year of a human geography degree and thinking of doing a masters in social policy or disaster management.

OP there was a desert island discs on BBC Sounds by a lady who is top sausage in disaster management, it was very interesting.

Lucy Easthope. Her books are good too

Former colleague went to do a masters in international disaster relief a couple of years ago in Copenhagen. Straight into a job after but he had a few years work experience (not directly related).

I think the message was a master's wasn't much of a value add.

It’s really only going to be working for a charity and anyone sensible can disaster manage if they work in the sector.

A dc I know did social policy and it got him nowhere in terms of social policy as a job. He designs and analyses polls. Hardly forming policy but he knows diddly squat about anything! What policy could he advise on with no work expertise or professional qualifications? He’s no knowledge in depth about anything. I think these masters are spending money for dubious outcomes.

My DD is a barrister and many didn’t have a masters but do now as GDL has changed to masters level making a loan available However the area of law matters in terms of a masters after a law degree. Plenty are successful without one and the training course is expensive!

When I graduated I was part of a 10% bracket of young people with a degree and it meant something. Now, 50% of young people go on to university, so a degree is nothing special. This is why young people today do masters' - it is to make them stand out like a degree did 30 years ago.

@Pwffsac Possibly not but overall masters holders do earn more according to ifs. However this really will depend on area of work. Masters from elite universities like lse or Imperial are rarely wasted.

It depends on the course. DD is doing an accelerated masters in diagnostic radiography which will lead into a career.

She worked for two years between undergrad and post grad and saved a lot of money to fund it.

@mugglewump It’s nearer 37% of school leavers going to university. Around 50% of the 21-35 workforce has a degree or HE qualifications. But yes, too many degrees and too many with masters. It’s all about money not employment needs in too many cases. 8% went to university in 1970 so of course it conferred more prestige. Masters degrees were not required very much - except for lecturing!

I agree I didn't distinguish above between my sons' friends with or without integrated masters. I am starting to forget what they did as they went to university in 2017. One definitely did a cyber security masters separately and works in that areas. Another did a stand alone one in marketing - I think that one has found work quite hard probably because went into sales which is a bit of a nasty job in my view so has had 2 gap years and then a few jobs. Another had an integrated one. My son stayed in his university town for a 4th year doing the law conversion (without masters) and had quite a few friends doing masters there - and at lkeast one was integrated and 2 friends had done language degrees with a year abroad so their courses were longer anyway.

On the PGDL with or without masters for lawyers - you STILL can do the course without masters or with if you choose but if you want the masters loan funding they you must add the masters option as well. That would not be the same kind of proper law masters you would do if you were planning a more academic legal career, lecturer etc. So for potential lawyers it is very important people undersand the difference between those academic masters and the ones which is basically hjust the law conversion course with a little bit extra added to get the masters funding. Anyway I don't want to bore people about law only.

My son's friend did the accountancy route and qualified last year. Quite a few of their friends qualified into things last year -my twins as solicitors and another friend of theirs who did dentistry.

I'm doing mine (anaesthesia and perioperative medicine) cos it's interesting and useful for work as we are going to have a much wider role in looking after patients pre and post op in the future (am a dr) and because I've got significant bursaries towards it. Has zero impact on my job, wouldn't have done it if had to pay the normal rate for it

@Destiny123 Why doesn’t the NHS train you? CPD?

Eh? we are trained for a v v v v long time lol I've done 5 years of medical school and 10 years as a trainee doctor

I wanted to go into research so did a masters as most jobs required one, and still do.

@Destiny123 Yes. That was my point. As a progressional and a doctor I was surprised you needed yet another degree. Often at that level I would have thought it was not necessary. In that formal training is available to say, fly a new aeroplane, but you don’t need a master’s in it.

Both DDs did Integrated Masters in their Natural Science degrees. DD1's led into her PhD as she stayed in the same research group and is now teaching there whilst waiting for her viva. DD2's gave her the lab skills that landed her the graduate post she now holds. DD2 was denied much hands-on lab experience due to Covid, so her Masters project really helped redress that. Her employers have commented on her skills in her quarterly appraisals, so she must have learned something.

Both owe a fortune on their student loans as DH was on NMW for all of DD1's undergraduate degree and half of DD2's. However, neither thinks they will repay it all - DD2 is currently paying back something like £18 per month. It gets wiped after 30 years and they both view it as a graduate tax.

Doesn't the NHS train you?

Hahaha, no.

Tbh, I'm being micromanaged atm, I know clinical notes are being audited. So, yes, my masters has been highly useful in terms of my ability to use big, long words which I use because I know that said manager will need to Google the meaning. They are an empty vessel who have no idea what they are doing but happen to be very good at covert bullying.

Well worth 11k.

Has/have. My education is clearly not showing 🤣

But meh, I'm having a beer.

You don't necc. It's optional in anaesthetics... some specialities like cardiology or surgery you have to do phds as everyone does so it's a requirement for the job. Anaesthetics I just did for curiosity and improve my knowledge

Too many are doing it straight after UG because they don't know what else to do as the graduate market is tough or they don't know what to do. They see other friends doing integrated masters so decide to stay on.

Personally my advice is not to. Wait and get established in a career. Maybe not even your first one! Use it to advance your career at a point where it needs assistance to advance and by studying a specialist subject rather than a general masters or to lead you into a career change.

Shelling our 15% rather 9% of your gross salary ober threshold is a big ask so make sure its worth that extra "tax".

Masters degrees are an important income stream for universities. Lots of international students. If YP very keen on further study, they really must move to a different university, to get a fresh perspective or do something very specialised. Do not just do a 4th year in the same department!! That's patently just wanting to extend the student experience, and not challenge oneself intellectually, and employers will spot that. Don't go to any institution that accepts people onto masters courses with less than a 2:1 (if they do, it's a money-making sausage factory). If YP has an academic bent, a masters is these days a prerequisite for entering a PhD programme (and any worthwhile uni will demand a distinction at masters level to start a PhD, unless the applicant is very 'mature'). Be cautious: delay until the YP is clear they are simply gagging to write more essays!

Mine is currently applying to the selective Masters in Finance only because he has been applying to dozens and dozens of internships and graduate jobs, but none has led to any tangible job, yet. He would rather start working after he graduates in the summer, than study one more year. But they aren't that many jobs around in banks/finance.
He has also started to look on the continent, as is bilingual with a European passport, but they're not interested in someone completing an undergrad, they want a masters level applicant.

Some the European Masters' degrees have a couple of integrated internships which are a great way into the labour market.