Master's degree: Help or Hindrance?

FINDING BALANCE Does the Master’s degree help or hinder? Radhika Sathe contemplates...

To do a Master’s

or not?

A

student just graduating from a degree course. A just-graduated student looking for a job. A student currently pursuing a Masters degree but is unsure. A parent whose child is in any of the above situations. Yes, this article is for You! I got intrigued by this topic when I heard Lennie Kwan Jin Chang, a student of

A comment like this is like a sore thumb standing out when there are so many applicants for a post-graduate degree.

This comment coming from a person who himself has opted for doing a Masters is a contradiction of thought and reality, right? I, personally, was quite taken aback by this comment. Being a Masters student myself, I came to the decision to undertake further education after lots of internal debate over the pros and cons.

So, lock, stock and barrel, I delved further into the topic.

An opposite view is stated

by Gemma Jordan, a Masters student too. She feels that, “it gives you an edge over bachelor degree holders in that it shows a level of understanding and commitment which is greater than a Bachelor’s. Masters are not to be entered into lightly though, as it is incredibly hard work and expensive as you do not get a student loan. You have

Tug of war!

Coming from a country where education is given the utmost importance and your qualifications are considered directly in proportion to your

Masters are not to be entered into lightly though, as it is incredibly hard work and expensive to really want to study the subject if you choose a Masters.

For this reason I think it shows super dedication.” Shweta Kapur agrees. “A Masters degree can provide fantastic opportunities and placements after completion, not to mention

level of education, the debate of which is better ― work experience or a Masters degree ― seems, though not completely, a new concept. Though the scenario is changing now and the concept of ‘learning on the job’ is also taking its roots in

my field exactly. My classmates also faced similar problems, and some of them hadn’t got the office work experience either.” Damian Chapman, MA Coordinator, University for the Creative Arts, Epsom, elaborates that when you go for a work experience directly after your bachelor’s, you end up doing what you are told by someone in a senior position. You need to choose if you want to do that or make your own decisions in what you do.

Shruti Kothari, a 31-year-old professional who has done her Masters in fashion, is also diplomatic about it. “There are some things in work-life a Masters cannot each and only work experience is more useful and vice-versa in other situations.” 25-year-old Janhavi Sahastrabudhe agrees and gives more specific answer: “For industries like Biotech, Chemical, Finance, Masters degree is unavoidable. But for IT, Fashion, Arts, Experience

There are some things in work-life a Masters cannot each and only work experience is more useful and vice-versa in other situations.

India, a Masters is yet considered to trump an internship or a work experience unless the experience is a considerable amount and in the same field.

As Corina B Manuel, regional editor of Femina, puts it: “Whilst the former works at giving you an edge, the latter is conducive to training you.”

While some are all for work experience, others prefer a Masters degree. Neha Paranjape, a 25-year-old Masters student, feels that, “for a fresher, it is more important to have a good solid background which can be developed by a Masters degree. After this one can

Photography Illustration by Micheal Bennett

MA Design Innovation & Brand Management say, ““MA is not important, usually employers don’t even ask about it!”

the sheer exposure and lifeexperience one gets from it.”

Students look at a Masters degree for various reasons: academic testing of knowledge, specialising in a particular field, to obtain better career opportunities, etc. The reason behind opting for this path may be different from person to person. The resources ― time and money ― put into it remain the same though. In the academic year 2009-2010, 578,705 students got a post-graduation degree according to the Higher Education Statistics Agency.

This is nearly 25% of the total number of students in the same year. With so many students opting for a post-graduate, one expects that the job opportunities are in ample after having gone through the whole Masters process. But, ― yes, there’s always is a ‘but’ ― post the recent recession, that is not the case. venture out in the job market and gain experience.”

A question that crops up at such a juncture is that how is a student supposed to get that work experience if a company doesn’t give the opportunity to fresher to start a job so that he or she can accumulate, or at least start to, that work experience.

Sneha Gurjar, who just finished her Masters in Economics, was asked for work experience at the couple of companies she applied for. “I did my Masters directly after my graduation. Thankfully, I worked at my university office so I could show that as work experience though that wasn’t

Stephanie O’Neill, a 21-year-old undergrad student, disagrees.

She is of the opinion that work experience is more important as you are more hands on and come up against the decisions that need to be made daily within that job whereas a masters is taught in a class. “Being taught in a class,” she clarifies, “does not give you the same experience and understanding of what is expected from that industry.”

Then there are those, who have the view that it is more case specific. A Hays Marketing London personal says, “Companies that recruit marketing specialists sometimes request that the candidate is educated to a Masters Degree level, particularly when recruiting for senior positions.

However, the marketing experience of the candidate is highly more desired than the Masters degree.”

would be more beneficial in my opinion.”

Money Matters!

Another area to consider is the money you put in when you do your Masters. A Masters degree doesn’t come cheap. You invest quite an amount of your own or your parent’s hard-earned money. Or you take a loan from a bank or an organisation, where after a certain amount of time you have to start paying back not only the base amount you’ve taken but also the interest rate.

With the job market dicey currently, there is a fear of whether the student will be able to start a job, to begin with, and then earn enough to repay the amount.

Anisha Chand, a 24-year-old MA Graphic Storytelling and Comic Art student, feels that financial reasons may be a factor in people not wanting to do a Masters and go straight

for a job. But with the market yet just coming out of the recession, “everyone is looking for jobs and not too many companies are hiring so what better time to study and build on your experience?”

Corina feels, and I quote, “There is no gain, without pain! If you want to gain a better position and pay through your Masters, you need to be prepared for the monetary issue.” 31-year-old Eve has more personal reasons.

“If the Masters is in a subject that you love and are passionate about, the extra level of debt on top of the debt arising from a Bachelor’s, is frankly negligible.

You’re at the end of the day investing in your future and at some point a job will open up.”

The government plans to cut the number of overseas students by 25%. However, overseas students ― which include yours truly by the way ― generate £5bn a year for universities.

“Could a subsequent dent to this income lead more institutions decide to charge the top cap of £9,000 in tuition fees as an unforeseen consequence of the visa restrictions?” Eliza Anyangwe, correspondent for

a good salary in order to be able to pay him back. I am pretty sure many are in the same position as me. As the market is now coming out of recession, albeit slowly, the prospects are looking positive.

Hoping for a better future According to the Manpower Employment Outlook Survey for the second quarter of 2011, the Net Employment Outlook is +2%. This, though not very

Could a subsequent dent to this income lead more institutions decide to charge the top cap of £9,000 in tuition fees as an unforeseen consequence of the visa restrictions? the Guardian asks. With almost all of the top universities going for £9,000, the maximum fee cap, top-notch education is becoming extremely pricey.

Having taken a loan from my father for my Masters, while I don’t have the pressure one has when dealing with public organisations of having to pay up a specific amount at a specific time, I have a responsibility to him and myself to get a good job with

high, is better than -6% which was the Outlook in second quarter of 2009 amidst recession. The Net Employment Outlook, for those who didn’t understand it like me, is a figure derived by taking the percentage of employers anticipating the total employment to increase and subtracting the percentage of employers who believe the total employment will decrease.

The positive outlook shows hope that the market is taking a turn for the better.

Work-experience

Masters Degree

Dan Holmgren, a 27-year-old Masters student who is also working, stresses that to learn more about a subject, and get more in depth knowledge, you should get a Masters degree.

“One never knows for sure if one would get a job, with or without the Masters. But if you land a job, and have a Masters degree, one can demand a bigger salary in order to pay

off ones loans.”

Damian claims that it is nearly impossible currently to get a job.

With the job market facing one of its bleakest times, it is pretty hard for anyone graduating now right now. Damian questions, “Why would an employer look for someone who’s done just a BA? Especially, when you can get a Masters student at the same amount of money... You get more maturity of thought in the person you are employing when you employ a MA student.”

Dan is in agreement: “A master degree gives you more in depth knowledge about your chosen subject. In today’s world it’s also beneficial to have a Masters degree when you are applying for jobs, since everyone else already have a bachelor’s.

Because you have taken things one step further, and proved that you really know and care about your chosen subject, the chances to get a job is better with a Masters degree.”

“Right now, around 12% of the workforce comprises of people with a Masters degree,” Damian claims, “As 70% of the work force holds an under-graduate degree, a Masters makes you rise above the norm. If the graph for Masters increases to 30% or so, in 10-15 years, you’ll reach a point where if you don’t have a Masters you won’t get anything! Even while getting a pay-raise or a promotion, you need qualifications that show capability. Capability is all about understanding, commitment, managing resources, people and time, planning, etc. They are core skills of a Masters course.”

Ashwini Mahashabde, a

Computer Engineering professional, feels that “from an employer’s perspective, what you know and how good you can apply that knowledge is more important.”

According to a new study funded by Medical research Council and the British Heart Foundation, people who leave education with fewer qualifications are prone to age more quickly. “Whilst – as with all observational research – it is difficult to establish the root causes of the findings, this study does provide evidence that being educated to a higher level can benefit you more than in the job market alone,” Professor

Now research what a Masters Degree holder in the same field gets and what position he holds.

If the Masters graduate holds a good, better in fact, pay and holds a high position, tick the ‘Yes’ section. Look at the current labour market and who is hiring and what are the statistics. If a Masters Degree holder is being hired, tick under ‘Yes’, if not, under ‘No’.

See if you want to explore some different avenues also as you go along. For example, you are interested in fashion and are deciding between a fashionrelated Masters Degree and job, where you will be working

This study does provide evidence that being educated to a higher level can benefit you more than in the job market alone.

Stephen Holgate, Chair of the MRC’s Population and Systems Medicine Board which funded the research, said. It seems I will live a long life then. With the job market in a limbo, this is a good reason to do a Masters, eh?

A short self-analysis will help you in your decision. Take a paper and make two columns, one a ‘Yes’ and one a ‘No’. If you have the money to spend or are willing to take a loan, mark a tick mark under ‘Yes’. If not, in the ‘No’ section. On researching about different job opportunities after your graduation and the pay you can expect from those jobs, if you get positive answers, that the job opportunities are good and you will get a good pay, put a tick mark under ‘No’.

around 8-10 hours a day as a newbie. You also want to try a hand at marketing and retailing or photography and styling along the way. Check the opportunities you’ll get along with what you choose to do further. If the opportunities are there, and you want to explore them, mark under ‘Yes’. Well, such a list can go on. You really have to put in the stuff related to you and mark it a ‘Yes’ or a ‘No’. If the scales tip towards the ‘Yes’, go for a Masters. If towards the ‘No’, you are more job-oriented and should look for work experience and internships where you get a lot of experience. On doing this for myself, I arrived in the UK for my Masters. What does your scale tell you?