Everything to Know About Earning a Master's Degree

Published on: September 5, 2024

Pursuing a master’s degree is a significant step for anyone looking to deepen their knowledge and skills in a specific field. It requires a commitment to advanced study, often involving intensive coursework, research and, in some cases, practical experience. Whether you’re looking to advance your career, switch industries or specialize in a niche area, understanding the core components of earning a master’s degree is essential.

From program selection to understanding the financial investment, earning a master’s degree comes with crucial considerations. Prospective students should evaluate factors such as program format, time commitment, admissions requirements and the long-term benefits a degree might provide. Read on and explore what to know to make an informed decision about pursuing a master’s degree.

Choose Your Master's Degree

What Is a Master's Degree?

What is a master’s degree, exactly? This advanced degree and academic qualification follows the completion of a bachelor’s degree. Typically requiring one to two years of full-time study, it allows students to gain specialized knowledge and expertise in a particular subject area. Master’s programs tend to include a mix of coursework, research and sometimes a thesis or capstone project. Depending on the field, students may also engage in internships or practical experiences to further develop their skills.

Why Pursue a Master's Degree?

Pursuing a master’s degree can open doors to higher-level job opportunities, increased earning potential and greater expertise in a chosen field. For many, it’s a way to stay competitive in industries where advanced credentials are increasingly expected. Others may seek a master’s degree to transition into a new career or to enhance their knowledge in a specialized area. Beyond career advantages, earning a master’s degree can also lead to personal growth, providing a deeper understanding of a subject and the chance to connect with experts and peers in the field.

How to Get a Master's Degree

You now may be wondering how to get a master’s degree and what those exact steps look like. The process of earning a master’s degree involves several key steps, starting with researching programs and schools to ensure they align with your goals. Once you've identified your top choices, you’ll need to prepare for the application process, which often includes submitting documentation, interviews (if required) and finalizing your application.

Research Programs and Schools

The first step is to thoroughly research potential programs and schools. Focus on aspects like the curriculum, faculty expertise, program structure and accreditation. It’s also essential to check admission requirements, deadlines and whether the program offers the specific concentration or area of study you’re interested in. Make sure to compare multiple schools to find the best fit for your academic and professional goals​.

Complete the Application Process

Once you’ve identified programs that suit your needs, the next step is completing the application. Most schools allow online applications, but you’ll need to gather essential documents such as academic transcripts, letters of recommendation and standardized test scores (like GRE or GMAT, if required). Be sure to tailor your personal statement to reflect why you’re a strong fit for the program​.

Interviews (If Required)

Not all master’s programs require interviews, but for those that do — such as MBA programs or those in competitive fields — this step is critical. Interviews can be formal or informal and are typically conducted to assess your fit for the program, academic readiness and career goals. Preparation is key, so practice responses to common interview questions related to your field of study​.

Submit Your Application

After gathering all required materials and completing any interviews, it’s time to submit your application. Ensure all documents are included and meet the school’s deadlines. Some programs may require physical copies of documents like language test certificates, so plan ahead to avoid delays​.

Types of Financial Aid for Master's Degrees

Financial aid can substantially reduce the cost of earning a master’s degree, with various options available depending on your program and financial situation. Common types of financial aid include scholarships, grants, loans and assistantships, which can help ease the burden of tuition and other expenses.

Scholarships and Grants

Scholarships and grants are forms of financial aid that don’t need to be repaid, making them ideal options for funding a master’s degree. Scholarships are generally merit-based and awarded for academic achievements, leadership or specific skills. Grants, on the other hand, are usually need-based and can be offered by federal or state governments, private organizations or universities​.

Loans and Assistantships

Student loans (both federal and private) are another common method for financing a master’s degree. While loans must be repaid with interest, they can offer flexible repayment options post-graduation. Assistantships are another valuable form of aid, where students receive tuition reimbursement or a stipend in exchange for working as a teaching or research assistant​.

How Long Does it Take to Get a Master's Degree?

The duration of a master’s degree program can vary depending on the field of study and whether the student is enrolled part-time or full-time. On average, most programs take about two years to complete, but this timeline can shift with the availability of accelerated or online options.

Duration of a Typical Master's Program

A typical full-time master’s degree program takes about two years, or four semesters, to complete. This timeframe may vary slightly depending on the field, with some programs requiring additional coursework or a thesis, while others offer more flexible options​.

Accelerated and Online Programs

Accelerated master’s programs allow students to complete their degree in a shorter time frame, often in as little as one year. Online programs also offer flexibility that supports the balance between students’ work and study as well as the ability to complete their degree faster than traditional, in-person programs​.

Types of Master's Degrees to Consider

When pursuing a master’s degree, it’s important to choose a program that aligns with your career goals. Master’s degrees typically fall into two categories: common types that cover a broad range of disciplines and specialized degrees designed for specific careers or industries.

Common Types of Master's Degrees

Common types of master’s degrees include the Master of Arts (MA), Master of Science (MS) and Master of Business Administration (MBA). MA programs often focus on humanities or social sciences, while MS degrees are geared toward technical fields like engineering or natural sciences. The MBA is designed for professionals looking to advance in business management​.

Specialized Master's Degrees

Specialized master’s degrees cater to specific careers or industries, such as a Master of Public Health (MPH) for healthcare professionals or a Master of Fine Arts (MFA) for those in creative fields. These degrees offer in-depth training and are tailored to the requirements of particular industries​.

Is a Master's Degree Worth It?

Now that you’ve reviewed the general process of applying for a master’s degree, is a master’s degree worth it in the end? The value of a master’s degree depends on factors like career goals, earning potential and personal aspirations. For many, the benefits — ranging from increased income to greater job opportunities — outweigh the time and financial investment.

Earning Potential Increases

On average, individuals with a master’s degree earn more than those with only a bachelor’s degree. The advanced skills and expertise gained through a master’s program can lead to higher-paying positions, especially in specialized fields like business, healthcare and technology​.

Career Opportunities Expand

A master’s degree can open doors to new career opportunities, including roles that require advanced knowledge or leadership skills. In some industries, a master’s degree is necessary to qualify for senior or managerial positions​.

Personal Growth and Learning

Beyond financial and career advantages, earning a master’s degree allows for personal growth. Graduate school programs provide an opportunity to deepen your understanding of a subject, engage in research and develop critical thinking and problem-solving skills​.

Industry Recognition

In fields such as education, business and healthcare, holding a master’s degree is often a mark of credibility and expertise. Employers in these industries frequently seek candidates with advanced degrees to fill top positions​.

Networking Opportunities

Graduate school programs provide excellent networking opportunities with peers, professors and industry professionals. These connections can be instrumental in career advancement, providing mentorship and job prospects both during and after your studies​.

Advance Your Career With Husson University’s Flexible Online Master’s Programs

Earning a master’s degree is an investment in your future that offers increased earning potential, expanded career opportunities and personal growth. Whether you’re pursuing a common degree like an MBA or a specialized program tailored to your industry, the right master’s degree can help you reach your professional goals.

Husson University offers flexible, affordable online master’s programs to fit your schedule and career aspirations. With a range of options in business, healthcare and more, you can take the next step in your career without sacrificing your current commitments. Ready to elevate your future? Apply today to Husson University’s online master’s programs and unlock new possibilities!