is a masters degree self-indulgent? what is the average cost of one?

[Anonymous]

Both of my masters got me about a 25% starting pay bump as a teacher. Totally worth it, and it was part of what helped us pay off our house super early.

[Anonymous]

Why is it self indulgent to learn something?

[Anonymous]

Master's degree is becoming the new High School Diploma.
Get one while you can.

[Anonymous]

LOL. Most people in the US don't have bachelor degrees; a masters is a while away from being a HS diploma.

[Anonymous]

Anonymous wrote:LOL. Most people in the US don't have bachelor degrees; a masters is a while away from being a HS diploma.

Maybe in the entire US but here in DC area Masters are dime-a-dozen

[Anonymous]

Anonymous wrote:Two reasons to get a masters:

1) It advances you in your career field
2) You love the subject and can't learn enough about it

If it doesn't fulfill either one of those, and you just want more letters next to your name, then it's a waste of time and money.

Agree. Also no way I would do it unless my company was paying for a part of it or if I was just sitting on a pile of $$$.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Eh, it depends. I was unemployable after getting my B.A. I went into debt ($60k) for a Master's Degree out of desperation, but it worked out. I immediately got a job paying $50k, left after 3 years for a job paying $75k, two years later I crossed the $100k mark. Paying off the debt was hard but manageable. I really didn't have a choice at the time; I was making $10/hr at temp jobs and had countless rejections.

I'm in the same boat. My degree is in communications. The masters would be Public health. What is your masters in?

My B.A. was in a foreign language. My Master's is in Int'l Aff/Public Policy. Which is not a sure thing or a safe bet.

Almost identical. The masters resulted in a substantial salary bump in my case, but friends in public health seem to think you'd have to go for the PhD for it to make sense.

[Anonymous]

My masters was not self indulgent, it was a career shifter. I got an MBA from a top school after getting a degree in political science from a SLAC. The ROI on my degree has been huge relative to where I would have been without it. I also didn't have high opportunity costs, which made a difference. I had been working for a couple of years but at a pretty low salary. My summer internship salary for 3 months was higher than my annual salary pre-MBA.

The 2 year program today is about $210k including an estimate for room and board. Opportunity cost is lost income during that period. I got scholarships for at least 1/2 my tuition, a pretty lucrative work study program, and low cost school sponsored loans. I was able to pay the loans off very quickly.

[Anonymous]

Do you have kids? Is college for them funded already?
Will you be taking on debt for your own Masters?
Is the debt more than the 1 year bump you might be able to expect when you complete your degree?
It may be frivolous, which I do not think is a good thing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Eh, it depends. I was unemployable after getting my B.A. I went into debt ($60k) for a Master's Degree out of desperation, but it worked out. I immediately got a job paying $50k, left after 3 years for a job paying $75k, two years later I crossed the $100k mark. Paying off the debt was hard but manageable. I really didn't have a choice at the time; I was making $10/hr at temp jobs and had countless rejections.

I'm in the same boat. My degree is in communications. The masters would be Public health. What is your masters in?

My B.A. was in a foreign language. My Master's is in Int'l Aff/Public Policy. Which is not a sure thing or a safe bet.

Almost identical. The masters resulted in a substantial salary bump in my case, but friends in public health seem to think you'd have to go for the PhD for it to make sense.

I don't understand this comment. Are you saying for a public health master's to pay off, you need to get a PhD in it? MPH grads are a dime a dozen. Not a valuable degree at all.

My friend got one and wanted to make a difference. She just shuffles papers and is basically an admin. She doesn't feel fulfilled and doesn't make a good salary.

[Anonymous]

Anonymous wrote:Eh, it depends. I was unemployable after getting my B.A. I went into debt ($60k) for a Master's Degree out of desperation, but it worked out. I immediately got a job paying $50k, left after 3 years for a job paying $75k, two years later I crossed the $100k mark. Paying off the debt was hard but manageable. I really didn't have a choice at the time; I was making $10/hr at temp jobs and had countless rejections.

What did you get your degree in?

[Anonymous]

Anonymous wrote:

Anonymous wrote:LOL. Most people in the US don't have bachelor degrees; a masters is a while away from being a HS diploma.

Maybe in the entire US but here in DC area Masters are dime-a-dozen

This is inaccurate. Fewer than 23% of 25+ adults in DC have graduate degrees. That means more than 77% do not.

http://www.governing.com/blogs/by-the-numbers/graduate-professional-degrees-for-metro-areas.html

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:LOL. Most people in the US don't have bachelor degrees; a masters is a while away from being a HS diploma.

Maybe in the entire US but here in DC area Masters are dime-a-dozen

This is inaccurate. Fewer than 23% of 25+ adults in DC have graduate degrees. That means more than 77% do not.

http://www.governing.com/blogs/by-the-numbers/graduate-professional-degrees-for-metro-areas.html

One more example of how people on DCUM make sweeping statements that have nothing to do with reality (e.g., "You need 300k to be middle class here!")

[Anonymous]

Anonymous wrote:Two reasons to get a masters:

1) It advances you in your career field
2) You love the subject and can't learn enough about it

If it doesn't fulfill either one of those, and you just want more letters next to your name, then it's a waste of time and money.

This is me. Plus I was working on my own and the university medical plan was so much less than ObamaCare ($300/mth, $500 deductible vs. $926.month, $3,500 deductible) that I made the degree dollar neutral.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:LOL. Most people in the US don't have bachelor degrees; a masters is a while away from being a HS diploma.

Maybe in the entire US but here in DC area Masters are dime-a-dozen

This is inaccurate. Fewer than 23% of 25+ adults in DC have graduate degrees. That means more than 77% do not.

http://www.governing.com/blogs/by-the-numbers/graduate-professional-degrees-for-metro-areas.html

Lies, damn lies, and statistics. This is counting lower income people and others who married young, stayed home to raise kids, and have a bachelors. The key is what percentage in YOUR field have Masters.