Updated July 1, 2022 | Tessa Cooper
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A master's degree can lead to more opportunities in today's competitive job market. Graduate degree-holders can also qualify for high-paying careers. According to Payscale data from Dec. 2021, master's degree-holders earn an average salary of $78,000 per year. Comparatively, Payscale reports that bachelor's degree-holders earn an average annual salary of $65,000.
Professionals with a master's degree often become leaders in their field. Master's degree-seekers learn about theories that guide practices and write a thesis. Virtual learning allows learners to earn an advanced degree conveniently. This guide covers the steps to earning an online master's degree.
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Why Get a Master's Degree?
Master's degree-holders often earn more than people with a bachelor's degree. According to the Bureau of Labor Statistics (BLS), professionals with a master's degree earn a median weekly income of about $1,545. Bachelor's degree-holders earn a median of $1,300 per week.
In addition to qualifying holders for higher salaries, a master's degree can lead to more job opportunities. Graduate students learn the reasoning and theories that guide practice in their field. They also conduct research to fill in industry knowledge gaps.
Busy students often pursue an online master's degree. The flexibility of online learning allows students to continue working while earning their degree.
How Much Does a Master's Degree Cost?
The exact cost of earning a master's degree depends on a few factors. For example, private institutions tend to charge more than state schools. According to the National Center for Education Statistics, graduate students paid an average of $19,792 in tuition and fees for the 2019-20 academic year. However, graduate students attending public institutions paid an average of $12,410 for the same academic year.
Online learners often pay discounted tuition rates and are exempt from paying campus fees. They may also save on commuting costs. The following section highlights additional fees for online students.
Additional Online Master's Student Fees
Many online programs charge a virtual classroom fee. Online students may need to pay for an upgraded video conferencing platform, such as Zoom.
Online students should also budget for books. Learners can save money by purchasing used books, renting materials, or choosing digital versions. Online students also need to purchase and maintain a quality computer, and they need high-speed internet access.
Careers in some fields, such as education and medicine, require certification or licensure. These credentials require additional fees.
Available Online Master's Degrees
Students earning an online master's degree build upon foundational industry knowledge. In addition to practical applications, degree-seekers explore theory and research. Students learn to think critically and make decisions based on best practices. Many master's programs feature lecture-based courses and research assignments. Learners also complete a thesis.
With many options to choose from, graduate students can find a master's degree to fit their career goals. The following list highlights a few noteworthy options. Program availability varies by school, so learners should research their prospective institution for more information.
Education Professionals in the education field can pursue a master of arts in teaching or a master of education. The latter highlights theory and research. Learners think critically about the state of education. A master of arts in teaching emphasizes practice. Students specialize in an area such as math or English.
The BLS projects employment for education professionals to increase 10% from 2020-2030. A master's in education qualifies graduates to become high-earning teachers, administrators, and college professors.
Registered nurses can pursue a master's degree to become nurse practitioners. Nurse practitioners diagnose and treat ailments, and they write prescriptions. The curriculum covers topics including medical ethics and pharmacology.Nursing
A master's degree in information technology explores new uses for technology. Degree-seekers explore computing processes and gain problem-solving skills. Graduates often become computer and information research scientists, who earn a median salary of $126,830 per year, according to BLS data.Information Technology
Best Online Master's Programs 2022
#1
Southern New Hampshire University
School Information | |
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Location | Manchester, New Hampshire |
Admission Rate | 88% |
Graduation Rate | 44% |
Instituation Type | Private |
Accreditation | Yes |
Percent Online Enrollment | 94% |
Fast Facts
School Type: Private
Concentrations Available: Accounting, applied economics, business analytics, communication, criminal justice, cybersecurity, data analytics, English, nursing, finance, history, higher education administration, healthcare, information technology, marketing, psychology, sports management
Accredited By: New England Commission of Higher Education
Do Distance Learners Pay In-State Tuition? N/A
Founded in 1963, Southern New Hampshire University (SNHU) enrolls over 135,000 students and offers more than 250 programs. Students can pursue one of over 100 master's degrees in fields like accounting, communication, and cybersecurity. Learners can complete their degree in 10 months.
SNHU charges $627 per credit. Most online master's degrees require 36 credits. Enrollees can transfer up to 12 graduate credits. SNHU offers five annual start dates. The school does not require the GMAT or GRE.
Available Scholarship: Finlay Family Scholarship
#2
Liberty University
School Information | |
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Location | Lynchburg, Virginia |
Admission Rate | 51% |
Graduation Rate | 47% |
Instituation Type | Private |
Accreditation | Yes |
Percent Online Enrollment | 92% |
Fast Facts
School Type: Private
Concentrations Available: Accounting, aeronautics, counseling, biomedical sciences, Bible, business administration, communication, criminal justice, cybersecurity, divinity, education, engineering, history, homeland security and disaster management, human biology, human performance, information systems and technology, international relations, juris master, marketing, medical science, music, nursing political science, psychology, public administration, public health, public policy, public safety, religion, sports, worship studies
Accredited By: Southern Association of Colleges and Schools Commission on Colleges
Do Distance Learners Pay In-State Tuition? N/A
A Christian school in Lynchburg, Virginia, Liberty University offers nearly 300 online master's degrees across many academic fields. Liberty has provided distance-education options since 1985. Learners can pursue master's degrees in fields like nursing, education, and political science. Students typically take classes in eight-week blocks. Most programs require 1.5-2 years to complete.
Liberty offers tuition discounts for qualifying military members, first responders, missionaries, and Southern Baptists from select states. Admission requirements vary by degree.
Available Scholarship: Middle America Scholarship
#3
Florida International University
School Information | |
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Location | Miami, Florida |
Admission Rate | 58% |
Graduation Rate | 63% |
Accreditation | Yes |
Percent Online Enrollment | 68% |
Fast Facts
School Type: Public
Concentrations Available: Accounting, African and African diaspora studies, computer engineering, construction management, criminal justice, curriculum and instruction, engineering management, finance, global affairs, healthcare, health informatics and analytics, health services administration, hospitality management, human resource management, international business, international real estate, logistics and supply chain management, logistics engineering, marketing, mass communication, music education,
public administration, public health, special education
Accredited By: Southern Association of Colleges and Schools Commission on Colleges
Do Distance Learners Pay In-State Tuition? Yes
Florida International University (FIU) enrolls almost 54,000 students, giving it one of the nation's 10 largest student bodies. The school offers hundreds of majors, including 50 online graduate degrees in a variety of concentrations. Some options include economics, education, and engineering.
FIU also offers some programs in an executive or hybrid environment. Some programs may lead to professional licensure or certification. Online students learn from the same instructors who teach on-campus programs. FIU's online platform lets learners study in a flexible and interactive format.
Available Scholarship: Academic Merit Scholarship
#4
Ohio State University-Main Campus
School Information | |
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Location | Columbus, Ohio |
Admission Rate | 54% |
Graduation Rate | 86% |
Accreditation | Yes |
Percent Online Enrollment | 34% |
Fast Facts
School Type: Public
Concentrations Available: Plant health management; art education; bioethics; nursing; dental hygiene; engineering management; engineering leadership; healthcare innovation; learning technologies; public administration and leadership; public health; agricultural communication, education, and leadership; translational pharmacology; welding engineering; health-system pharmacy administration; social work; translational data analytics; business administration; business analytics
Accredited By: Higher Learning Commission
Do Distance Learners Pay In-State Tuition? No
The Ohio State University maintains one of the world's largest alumni networks, with more than 500,000 graduates all over the globe. Students can pursue their master's degrees online and learn from the same faculty who teach on campus.
Ohio State offers master's degrees in many fields, including art, business, and education. Online applicants follow the same admissions procedure as on-campus students. Requirements vary by program. Once enrolled, distance education learners can access technical support and other student services.
Available Scholarship: J. Parker and Kathryn Webb Dinius Fellowship
#5
Arizona State University-Skysong
School Information | |
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Location | Scottsdale, Arizona |
Admission Rate | 64% |
Graduation Rate | 4% |
Accreditation | Yes |
Percent Online Enrollment | 98% |
Fast Facts
School Type: Public
Concentrations Available: Architecture and construction, arts, business, communication and media, computing and mathematics, education and teaching, engineering and technology, entrepreneurship, health and wellness, humanities, interdisciplinary studies, law, justice and public service, science, social and behavioral sciences, sustainability, STEM
Accredited By: Higher Learning Commission
Do Distance Learners Pay In-State Tuition? No
Arizona State University-Skysong (ASU) offers over 100 online master's degrees in a variety of fields. Some options include forensic psychology, project management, and engineering. ASU offers enrollment options throughout the year.
ASU offers several opportunities for current undergraduate students to accelerate their education. Some fields let learners start studying for a master's degree concurrent with their bachelor's degree.
Specific timeframes, requirements, and admissions criteria vary by program. Applicants typically need a bachelor's degree and a minimum 3.0 GPA in the final 60 credits.
Available Scholarship: Dr. Mark and Mrs. Judy Searle Graduate Scholarship
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Frequently Asked Questions About Master's Degrees
How many years is a master's degree?
Most full-time students earn a master's degree in about two years. Part-time learners may need four years.
What's the difference between a bachelor's degree and a master's degree?
Bachelor's programs take longer than master's programs. Bachelor's curricula focus on entry-level information, while master's students gain a specialized view of their subject.
Can I get a master's degree in a field unrelated to my bachelor's degree?
Yes. Many master's programs accept students with a bachelor's degree in any subject. Learners pursuing a master's degree in a field unrelated to their undergraduate studies may need to take prerequisite courses.
FAQs
Which master's degree is most in-demand? ›
- Dietetics and Nutrition. ...
- Human Resources. ...
- Library Science. ...
- Mechanical Engineering. ...
- Mathematics and Statistics. ...
- Nursing. ...
- Public Health. ...
- Software Engineering. Students pursuing a master's degree in software engineering study algorithms, database architecture, and coding.
- Finance. ...
- Business administration. ...
- Economics. ...
- Computer science. ...
- Information technology. ...
- Industrial engineering. ...
- Counseling. ...
- Physician assistant studies.
- #8 Veterinary Sciences. ...
- #7 Education and Teaching. ...
- #6 Performing Arts. ...
- #5 Pharmacology, Toxicology and Pharmacy. ...
- #4 Allied Health. ...
- #3 Medical Sciences. ...
- #2 Health and Social Care. ...
- #1 Nursing and Midwifery.
- Masters of Fine Arts (MFA)
- Masters of Arts (MA)
- Masters in Mass Communication.
- Masters of Psychology.
- Masters of Finance.
- Masters of Human Resource Management (MHRM)
- Masters of Business Administration (MBA)
- Masters of Science (MSc)
- Data Science – A 21st Century Choice. ...
- Cybersecurity – A Timely, In-Demand Master's. ...
- Business Administration (MBA) – The Pick for Managers. ...
- Healthcare Administration – The Business of Healthcare. ...
- Project Management – Best for Project Leaders.
A master's degree is one of the most prestigious educational degrees available in the U.S., and can lead to a well-paying career in one of several industries. Some of the highest-paying master's degrees are in nursing and computer science, but psychologists, economists, and mathematicians rank highly too.
Which subject is best for Masters? ›- Technology Studies. Computer Science. Information Technology. ...
- Engineering Studies. Mechanical Engineering. Engineering. ...
- Economic Studies. Finance. Economics. ...
- Natural Sciences. Biology. ...
- Management Studies. Management. ...
- Business Studies. Business. ...
- Health Care. Mental Healthcare. ...
- Life Sciences. Agricultural Science.
- Data Scientist.
- Data Analyst.
- Blockchain Developer. Explore our Popular Software Engineering Courses.
- Digital Marketer.
- Cloud Computing Professional.
- Artificial Intelligence and Machine Learning Expert.
- Manager (MBA)
- Software Developer.
Having a master's degree may be very good for your job prospects. In fact, there are some jobs that outright require them. If you're looking for work as a statistician, political scientist, biomedical engineer, or speech-language pathologist, a master's degree is often expected.
How much should a master's degree increase your salary? ›Master's degree
The earnings increase from the bachelor's level to the master's level is approximately 20%. Specifically, the median income for master's degree holders is $77,844 per year, and the unemployment rate is 2%.
How much should someone with a master's degree make? ›
Annual Salary | Hourly Wage | |
---|---|---|
Top Earners | $106,500 | $51 |
75th Percentile | $74,500 | $36 |
Average | $66,893 | $32 |
25th Percentile | $47,500 | $23 |
The two most common titles of master's degrees are the Master of Arts (MA/M.A./A.M) and Master of Science (MSc/M.Sc./M.S./S.M.) degrees, which normally consist of a mixture of research and taught material.
Are online masters degrees respected? ›Yes. Advanced degrees completed online have just the same value as if you were to attend class in person. Just look for one that's verified by one of the many accrediting agencies out there and backed up by U.S. News & World Report's highest level higher education rankings.
What is the cheapest way to get a masters degree? ›What are the most affordable graduate schools? The most affordable graduate schools are usually public institutions because they receive more federal funding. According to the NCES, the average master's degree from public colleges and universities cost $13,758 less than at private schools.
Is a 1 year Masters degree worth it? ›If there is a clear goal in your mind and you are content in your field, a one-year Masters programme is a great choice. People with longer work experience and a proven quantitative aptitude tend to prefer this type of programme, because they can handle the intensity of the coursework.
Is a Masters degree worth the debt? ›Nearly two-thirds (61%) of graduates with a master's degree will earn more than the median bachelor's degree holder, according to the CEW. It's even higher for doctoral (73%) and professional (83%) degree holders. Having a higher degree could also strengthen your ability to stay employed during economic downturns.
How hard is a Masters degree? ›It's not easy. And not everyone who attempts a Master's program will actually complete their degree. Below are some of the most common hurdles to success we've seen. Procrastinators will quickly find that the constant, high volume of reading, writing, and research means that falling behind is not an option.
Which Master's degree is most in-demand 2022? ›- Business administration. A Master of Business Administration, or MBA, is one of the most highly sought-after master's degrees globally and a stepping stone to C-suites jobs at big organisations. ...
- Healthcare administration. ...
- Computer science. ...
- Marketing.
If you have one doctorate, you've achieved the doctoral level. A second (or higher) master's keeps you at the master's level. It can give you greater breadth, but that's not the same as greater depth. It's also not the same level of credential, especially for administrative positions, which often require a doctorate.
What is the highest paying occupation? ›OCCUPATION | 2021 MEDIAN PAY |
---|---|
General internal medicine physicians | This wage is equal to or greater than $208,000 per year |
Family medicine physicians | This wage is equal to or greater than $208,000 per year |
Emergency medicine physicians | This wage is equal to or greater than $208,000 per year |
Which course gives the highest salary? ›
- Business Analytics.
- Full Stack Development.
- Data Science.
- Artificial Intelligence.
- Digital Marketing.
- Programming Languages.
- DevOps.
- Blockchain Technology.
But a bachelor's or master's degree in political science, public administration, public policy, economics, business administration, public health, or international relations can open many opportunities.
Is a master's of science worth it? ›Nearly two-thirds (61%) of graduates with a master's degree will earn more than the median bachelor's degree holder, according to the CEW. It's even higher for doctoral (73%) and professional (83%) degree holders. Having a higher degree could also strengthen your ability to stay employed during economic downturns.
Can my masters be different from my bachelors? ›In most cases, obtaining a master's degree unrelated to your bachelor's major is very possible. While doing so might involve taking a couple of extra courses to qualify, shifting academic programs and career goals can be done.
Which course is best to get job immediately? ›- Certificate Course in Finance Accounting and Taxation.
- Advanced Certificate Program in Data Science.
- Advanced Certificate in Machine Learning and NLP.
- Advanced Certificate in Blockchain Technology.
- Advanced Certificate in Digital Marketing and Communication.
- PHP Certification.
- Emergency Medical Technician.
- Funeral director.
- Brick Mason.
- Personal trainer.
- Medical coder.
- Firefighter.
- Air traffic controller.
- Automobile service station manager.
On-Demand courses are made up of various content items such as videos, class recordings, PDF's and presentations that each learner can proceed through at their own speed. Instead of a learner having to join and review material at a specific time, they can go through the course content when it is convenient for them.
Which govt job has highest salary? ›- IAS (Indian Administrative Service)
- IPS (Indian Police Service)
- Indian Forest Services.
- Scientists in ISRO.
- RBI Grade B Officer.
- SBI Clerk.
- PSU Jobs.
- Indian Foreign Services.
- RRB Group D.
- RRB NTPC.
- SSC Multi Tasking staff.
- SSC CHSL.
- IBPS Cerk Exam.
- SSC Stenographer.
- IBPS Specialist Officer Exams.
- Central Teachers Eligibility Test (CTET)
A Bachelor of Science in fields such as Animal Husbandry, Agriculture, Forestry Statistics, Public Administration, and Economics can lead to jobs in government universities. Other interesting posts include project assistant, technician, consultant, research fellow, statistical officer, and data manager.
How much should you spend on a Masters degree? ›
The latest averages for completing an accredited master's program are right around $30,000 to $40,000. However, some high-end private schools may charge as much as $100,000 for your degree. Master's degrees typically involve at least 1-3 years of full time study beyond the bachelor's degree.
Are online Masters worth it? ›An online master's degree is worth the time and effort as long as you go through an accredited program and ensure that it meets the standards of potential employers. If the program seems suspicious or you notice that the university does not have a third-party accreditation, then opt for a different online program.
Is it better to get a second bachelor's or a Masters? ›If you are interested in making a career change or a large shift, a second bachelor's may allow you more opportunities in a new industry. If you want to stay in your current field and earn a promotion or qualify for more positions, a master's might allow you more opportunities.
Is a Masters more difficult than a bachelor's? ›A bachelor's degree is no more or less challenging than a master's; it is simply a different area of study focus. Both are platforms for networking and professional growth with real-world teaching.
Can you get a PhD without a Masters? ›Can You Get a PhD Without a Masters? Yes, you can get a PhD without first obtaining a master's degree. A number of universities offer direct entry to PhD programs from undergraduate or bachelor degree studies. In some cases, specific schools or programs may prefer that applicants hold a master's degree.