How to Make Money With a Masters Degree

Obtaining a master's degree is an achievement worthy of recognition, as finishing such a program can take from one to three years beyond a bachelor's degree. While achieving this academic designation can increase your knowledge, merely holding this advanced degree doesn't guarantee that you'll find suitable employment. Making money with a master's degree involves staying aware of industry trends and aligning yourself with accomplished colleagues. Ensure that the money and time you invested into your master's degree is reflected in your salary.

Instructions

1. Tap into the hidden job market by networking with established colleagues. Realize that issues such as advertising costs and the perceived value of employee recommendations often motivate employers to only post jobs internally. Keep in touch with classmates, as they may be able to introduce you to unexpected opportunities. Arming yourself with business cards and a ready resume will ensure your information is accessible when suitable positions become available.

2. Search for both academic and professional positions and be open to using your degree in a different ways from you initial intended when obtaining the degree. An example would be taking a faculty teaching position, although your ultimate desire is to climb the corporate ladder in an elite business.

3. Find a niche within your industry. Avoid trying too hard to fit into established molds, as this can lead to frustration. Carve out your own path to unlock your true moneymaking potential. Examples include authoring instructional books or embarking on the public speaking circuit. Searching for public and private grants to fund your research efforts can also help you take advantage of your degree.

4. Apply for positions outside your functional area. While it's beneficial to focus attention on your degree specialty, looking beyond obvious opportunities can prove worthwhile. This is especially true if your degree is in a highly competitive industry. Compare your skills and knowledge against job descriptions to uncover your crossover potential. Highlighting your commitment to accomplishing goals--as evidenced by your advanced degree--can make you a more competitive candidate than those without this achievement.

Tips & Warnings

• Laying the groundwork for employment while you're obtaining your degree can prove rewarding.

References

• Quint Careers: Considering Graduate School? Answer These Five Questions Before You Decide
• CNN: When a degree isn't enough to get a job