Alex Blower pursued a master’s degree in drama due to his love of comedy. He took a year off to work as activities vice president of his student union before realizing he wanted to specialize in his passion. Although he wasn’t certain about teaching, he knew he needed a master’s degree to teach at a higher level and understand the academic landscape better. Now that he has graduated and earned his master’s degree, he is working at Birmingham City University’s widening participation department. This department helps to inspire young people who want to go to university by raising their aspirations. His master’s degree played an important role in securing this job.
Charlie Ball, the deputy director of research at the Higher Education Careers Services Unit (Hecsu), reported that students generally pursue master’s degree courses because of their interest in a particular subject area. Since funding cuts are increasing, students are paying for their postgraduate studies. There is a question of whether these qualifications will increase their salaries. According to statistics, individuals with master’s qualifications are more likely to find work and earn higher wages than those with undergraduate degrees.
Ball says that typically, master’s graduates earn £2-3k more than undergraduate degree graduates. Statistics from the Higher Education Statistics Agency (Hesa) show that 86.6% of postgraduates are working in professional positions six months after graduating, compared to 64% of first-degree graduates. Although many studies indicate that there is not currently a general labor market for master’s qualifications, there are sectors where a master’s degree is required to meet the professional standard. Therefore, having a master’s degree in those areas provides a competitive advantage.
Stephen Fish, a career advisor at Sheffield University, recommends that those graduating with master’s degrees need to demonstrate to employers how an additional qualification would benefit their organization. Fish advises specifically that if the individual has done a more general master’s course that is not related to the employer’s requirements, they should explain what skills they have acquired, such as research skills and critical thinking abilities; these traits are transferable skills that are valuable in all employment sectors.
Universities are also developing ways to help master’s graduates increase their employment prospects by linking them with industries, such as doing an employer-set project or spending time on a company premises placement. These opportunities give students a chance to boost their employment opportunities.
Universities are expecting today’s students to be even more hesitant to incur debt after they graduate with a master’s degree. The 2012-2013 group of students was the first to have to pay the £9,000 fee and universities predict that this will only increase the burden on students financing their postgraduate courses. Career and professional development loans, which offer the option of part-time work, assisted Blower in paying off his postgrad tuition. Still, Blower advises potential students to be strategic about where and what they study. Having a well-defined goal is crucial. Research a programme that aligns with your aspirations, and keep the end goal in mind as you make your decision. Ball emphasizes that students shouldn’t believe a postgraduate education will automatically make them more competitive candidates without demonstrating the benefits of their qualification to an employer.
