Grad Degrees that Lead to Jobs
Where are the headlines? Where are the screaming press releases? The talking heads proclaiming opportunity?
Right here folks:
One-Year Grad Programs See Sharp Rise in Recruiter Interest
One-year specialized masters programs in business have seen a 30+% increase in recruiter interest per GMAC‘s 2012 Year-end Poll of Employers. At a time when recruiter interest in people with a bachelor’s degree has actually declined slightly, specialized business masters programs are increasingly viable and appealing options for college graduates according to a survey of 200+ employers conducted by the Graduate Management Admission Council.
Who are these programs for?
Perhaps someone like you, if you:
- Are currently a hard science major, but not too keen on spending your working life chained to a lab bench. And you find that business intrigues you.
- Studied communications, but are less than thrilled with a starting average salary of $42,286* and are attracted to commerce as well as communications.
- Thought you would like to be a doctor, but organic chemistry and molecular genetics clobbered your GPA while the world of medical devices has captured your imagination and passion.
- Studied political science because you liked it and had some vague notion of becoming a lawyer, but the current legal job market necessitates a Plan B.
And What About ROI?
It’s great that recruiters are looking to hire more of these degree-holders, but is the education worth the cost? That depends. Let’s take a look at a few salary figures for college grads in specific fields:
Let’s also examine a few specialized masters programs and average salaries for those grads:
Obviously, there is variability here, and the specifics matter. You as an individual need to weigh your tuition and opportunity cost (the earnings you lose by not working for a year) against the anticipated increase in earnings associated with your particular specialized masters. You should also consider the value of pursuing a career you enjoy.
If the average cost of tuition is $50K and the opportunity cost is let’s say $45K, then your educational investment is $95K.Continued on the next page