by Nigel Holmes

Created on: January 15, 2009   Last Updated: December 03, 2009

Next time you apply for a job, how will you ensure that you stand out from the crowd?

Think about this because in today's job market employers are deluged with resumes for every vacancy they advertise. As a result every applicant is trying to distinguish themselves from the masses, while employers are seeking ways to attract only the most qualified candidates. This is why, for both job seekers and employers, the

Master's degree has become the preferred means of differentiation between job applicants. So does this mean everyone should enroll today?

Not so fast! First, realize that a Master's degree is expensive and demands a significant time commitment. If you figure on spending fifteen to thirty thousand dollars and dedicating two thousand hours or so to your studies, you'll appreciate that this is not a trivial undertaking. So before embarking on an arduous study program, make sure you've thought through what you want to achieve.

There are two reasons to embark on a Master's degree program: to get an advantage in the workplace, or for personal development (and let's not forget that these can overlap.)

A Master's degree can help your career in two ways: by increasing your technical expertise, or by preparing you for a management position. However, you must choose your Master's wisely. If you're an electrical engineer a Master's in Art History is not going to help you up the career ladder, so choose something relevant and ideally, something that shows logical progression from your undergraduate degree.

If you elect to stay within your technical field, a Master's will give you a much deeper understanding of the subject. By giving you the stamp of an "expert" it will also make you more attractive to potential employers, many of whom will pay a premium for someone with this level of education.

For anyone wanting to move in to management a Master's is becoming essential. There are several reasons for this. First, completing such a program, especially if done while holding down a full time job, shows tenacity and commitment. Second, a Master's with a management bias, such as Engineering Management, broadens a technical specialist out into other areas such as law, finance and H.R. So, if career advancement is your goal there's little alternative to enrolling on a Master's degree program.

There is however another reason for pursuing a Master's degree. It may be that you just want to expand your horizons by immersing yourself in more education. Call this the "personal growth" reason if you will, satisfying your intellectual curiosity is a very valid reason for going back to school. It could even lead to a career in research and possibly a PhD.

Is there an argument to be made against pursuing a Master's? Well it does depend on the field you work in. Some professions place more emphasis on experience and ability than on paper qualifications, and for some careers formal training and certification are more important. But with those caveats in mind, overall a Master's degree will improve your quality of life by satisfying your hunger for learning and possibly increasing your earning power. So what are you waiting for?

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