Many people are often in a dilemma when it comes to deciding between earning a master’s degree and stopping there or continuing with a doctorate (PhD). The two are quite distinct. While a master’s degree is career-oriented, PhD is research-oriented.
Factors like the length of study, the cost of study, and the prestige that comes with earning a higher degree, etc. are factors that you’ll need to consider before making a decision. (Also read challenges of doing a PhD)
A master’s degree is the first degree gotten in a graduate school as well as the second-cycle academic degree. What that means is that it is the degree acquired after your bachelor’s degree and the one before your doctorate. What a master’s degree does for you is to help you specialize in a particular field.
A master’s degree is beneficial if you’ve been working in a particular field for a while, and you want to attain some form of leadership there. Some benefits of acquiring a master’s degree over a PhD include:
- You spend less time and money on acquiring it than PhD.
- It is more career-specific.
- It may guarantee more employment opportunities.
What Is a PhD?
They are considered as the highest degrees that an individual can earn. PhDs are referred to also as terminal degrees. They are research-oriented academic degrees that are awarded in different fields of study. The benefits of getting a PhD include:
- It makes you an authority in your field of study.
- Improves your analytical skills.
- Improves your critical thinking, problem solving, and other transferable skills.
Making the Decision
You’ll have to consider a few factors. These factors include:
Duration of Study
To acquire a master’s degree, it will take about two years if you were a full-time student. Master’s degrees require less time compared to a PhD. A PhD program, on the other hand, may take up to 5-6years in a graduate school. That means you’ll have to invest a high amount of times in a PhD than you will in a master’s degree.
Cost of Study
Naturally, it costs more to acquire a PhD because of the duration of the study and the money needed to finance all the research and studies. If you don’t have enough more to pursue a doctorate, then a master’s degree will be enough.
If your aim, however, is to become an authority in your field, then you’ll need to seek funds to pursue your objectives.
This is another factor you should consider. If you aim to become an authority in your field of study, then go ahead with the PhD Master’s degree on other head assures your advancement in your career.
Making a decision requires you to consider these factors and more. In the end, both need some level of investment, be it time or resources.