A student’s final year of university is a year that involves many decisions, often the most urgent being deciding what to do once you have completed your undergraduate degree. The mostly care-free bubble that you have been living in for the last few years is about to burst and, for many, uncertainty lies ahead, this is why it’s of utmost importance in making sure you make the right choice when determining the best online MBA program for you.
Some argue that the only way to go is to continue with higher education and pursue a master’s degree. However, this decision to stay in education and climb up the academic ranks is being increasingly scrutinised after years where a master’s degree was perceived as something of a basic requirement. Today, young graduates are facing the reality of a recovering economy and a very tight job market. Graduates need to do everything they can to stand out from the crowd. The question is, does a masters degree still hold the same weight as it once did, or has the world of potential employment shifted towards practical experience? If you are thinking about taking a masters degree but are unsure where it will take you, then why don’t you check out an mba degree for further information on whether this is the right choice for you.
Young graduates are facing the reality of a recovering economy and a very tight job market. Graduates need to do everything they can to stand out from the crowd
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This debate of qualification versus experience is even being engaged with at governmental level. At the beginning of September, Minister for Education and Skills, Richard Bruton, launched his Action Plan for Education. The main objective of the plan is to shape Ireland’s education service into the best in Europe by 2026. Richard Bruton recognises that there is a “war for talent” and in doing so, his plans place particular emphasis on apprenticeship schemes, traineeships and access to work experience.
Bruton’s Action Plan is echoing what young graduates read day in and day out on job advertisements: “seeking twenty-something-year-old graduate with 30 plus years of experience in the field”. Facing such a competitive job market, it is no wonder that graduates are in a frenzy over whether continuing in further education is their best option, or whether they would just be better off getting some real-life experience.
Those who argue against the need to obtain a master’s qualification say that specific practical experience is much more advantageous when seeking employment. Graduates who have experience in the field of work that they wish to pursue are can be thought to be better prepared and are ready for that particular work environment. This has been proven to be the case in certain situations with employers like Google recently saying that university graduates aren’t ready for the real-world and lack in practical experience.
Furthermore, with the number of students pursuing a master’s degree increasing, whether we believe it makes us more employable or whether it was a default decision, having a masters qualification no longer stands as much out to employers. As so many people now have one, it is no longer as impressive to employers as it once was.
But a large amount of people enrol in master’s programs and spend very significant amounts of money on the degree, and there is clearly a benefit to obtaining one. There are a few careers where a master’s degree is indeed necessary, such as in teaching and the sciences. For other fields of work, the advantage of having the extra qualification is that your potential employer can be sure that you possess a very particular set of skills. However, what seems to be most important when it comes to master’s degrees is that your employer understands why you decided to do it. It’s not good enough to just do a master’s degree with little thought in order to put off being a grown-up for another year. Having a master’s degree means you have to be able to explain to your potential employer how it adds value to you as a potential employee.
An interesting perspective is to see how professionals view the debate. Earlier this year, Times Higher Education brought this question to the people who really matter: the employers. Sam Clark, HR director of Accenture UK & Ireland, stated that above all it is the candidate’s attitude and potential which takes precedence, while Richard Irwin of PwC outlined that it is not having the master’s qualification that matters, it is how you’ve done it and how you intend to use it.
Employers are looking for graduates who have found the balance between qualifications and experience, and likewise between credentials and characteristics
Moving away from the business world, Hearst magazine’s Sam Miskin argued that while a postgraduate qualification can demonstrate lateral thinking, teamwork and many transferable skills, it is relevant experience and the drive to learn that are most important.
Even after all of that, the strongest argument in favour of pursuing a master’s degree is the case of education. Education has the potential to change lives and progress people’s thinking. In choosing to stay in education and further your studies, your mind is continuing to grow and open up to new ideas and that can never be faulted.
If pursuing a master’s degree, it has to be for the right reasons and part of a well-thought-out plan. It isn’t wise or advisable to dive head first into a master’s degree without the slightest idea of why you are doing it. Even at that, a master’s degree won’t get you very far if you haven’t got any relevant experience. According to employers, they are looking for graduates who have found the balance between qualifications and experience, and likewise between credentials and characteristics.
