Is your master’s degree useless?
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For people who want to reach the top, a master’s degree, once a leg up, now looks like a bare minimum. In America, about 40% of graduates hold a second degree of some sort. Britain’s universities hand out four advanced degrees for every five undergraduate ones. Yet there are growing reasons to question whether this educational “arms race” is very bright. Data suggest that a staggering number of master’s courses offer students no financial return at all.
Lately researchers have been getting better at figuring out how far master’s degrees boost earnings, across a wide range of disciplines. Their findings, detailed in our story, should shame many universities. But for clever young things, the results are also reassuring. It is perfectly possible to join the elites without handing graduate colleges a king’s ransom.
Mark Johnson, Education correspondent?
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Operational Excellence / C-Suite Advisor / HR Expert / Sustainability & Business Strategies / Freelance
1 周The value of a degree isn't solely determined by its subject matter or its current demand in the job market. Whether it's a PhD, Master's, or Bachelor's degree, each holds significant worth, provided the knowledge gained is applied effectively to real-world situations and scenarios. The structure, delivery, and teaching methods play a crucial role in bridging theory with practice. Equally important is the learner's passion for their chosen field, their clarity of understanding, and their ability to translate academic concepts into practical applications. When I designed modules for both undergraduate and postgraduate programs, I always consulted with CEOs to understand the skills and qualities they sought in candidates, tailoring the curriculum accordingly. This approach proved to be highly effective.
CEO, Hallmark Abstract Service (New York Title Insurance); Board Chair Combat Veteran Heroes To Heroes Foundation; Podcast Host 'Do You Ever Wonder?'
1 周I received my MBA in finance in 1984, and it directly led to a job as a bond analyst for one of the biggest firms on Wall Street. At a total cost of about $10,000, I'd say that for me it was most definitely useful! Today, given the cost and depending on the degree program, I imagine the decision is not clear-cut.
OK Bo?tjan Dolin?ek
Co-Founder @ Seemingly Unrelated Podcast | Lecturerin Digital Cultural Heritage
1 周Short answer: no. Long Answer: Why did you get the master's in the first place? What barriers does it remove? How was the experience? Did you take full advantage of what was on offer? But that's not the point of the article is it? It's just a headline meant to provoke people into talking about how good or bad their own experience was and then you generate the clicks and continue the downward spiral of the Economist no longer being a publication with integrity.
Tech Enthusiast | Founder at 2DF – AI Marketing Lab | Marketing Strategist | Innovator | Gen Z Entrepreneur (or trying) | Data & Growth Driven
1 周The MBA is still valuable, but it’s no longer the default path to an elite business career. AI is reshaping industries, firms are prioritizing specialized expertise, and undergrads are leveraging tech earlier. Consulting and tech, once top MBA recruiters, are hiring fewer graduates. At the same time, many of the most talented MBA students are bypassing the corporate ladder altogether—opting to run their own businesses or acquire companies through search funds. The traditional MBA playbook has changed years ago.