Additional earning potential with a postgraduate degree
by James P. Outreach & PR ExecutiveUniversities have reported that in the academic year of
2016-17 there were 2,316,475 students in higher education courses across the
United Kingdom. Unlike the pre-millennium era when choosing a higher education
course at university was somewhat of a niche market, we are now at a stage
where not only the number of undergraduates is skyrocketing, the quantity of
postgraduates has boomed alike (551,580).
This has meant that the number of university graduates
entering the UK’s workforce is also increasing significantly year on year.
Therefore, graduate roles that many students are applying to following the
completion of their course, either immediately or several years later, are
often becoming oversubscribed. With competition for these jobs heating up, many
students are instead opting to remain in higher education prior to the
completion of their undergraduate degree by signing onto a master’s course.
That said we’ve decided to analyse why students are choosing
to stay in academia, and what effect it has on their future prospects.
Knowledge is power
Studying at postgraduate level can be of particular
importance to students still unsure about their future career path. Take for
example a recent graduate of business management. Due to the wide scope which
this course covers at undergraduate level, the number of career routes they
could go down is incredibly high. Choose a more concentrated postgraduate
course, however, and one can make themselves more suitable to a distinctive
role. The likes of Business with Supply Chain Management is one course which
offers students an alternative dimension when eventually veering into a future
career. Not only that, but, further education built upon the pre-established
undergraduate blocks allows for a development in knowledge. At A-Level stage in
school, despite how you feel in regard to assistance from teachers, the vast
majority of your education is heavily supervised and revised at each hurdle. As
you progress through your academic studies at university, the crutch that was
once there is slowly removed before you reach your final year. Completing a
dissertation or research project, you recognise that the help previously
provided is no longer there, and the likelihood of success, hinges
significantly on the amount of effort that you submit. Re-enrol to the next
stage, however, and it will become apparent that you have free roam, learning
what you want to — often in a professional environment.
The benefits of a postgraduate course are two-fold. Move
onto a career following the completion of your course and employers will
instantly recognise your commitment in terms of your own personal progression.
Despite the fact that you won’t be able to walk straight into any job,
interviewers will appreciate the dedication you have placed into completing an
initial degree and then a supplementary one.
When you do successfully land a role, the skills obtained at
postgraduate level will stand you in good stead in regard to being offered more
responsibility than someone without a similar experience. Furthermore, career
progression will have more chance of being unlocked thanks to your enhanced knowledge.
If, you do realise that you haven’t finished with learning,
and particularly enjoy the academic lifestyle, a postgraduate degree is
undoubtedly the next step in terms of establishing a career within academia,
prior to advancing into a PHD style course.
An investment in your future
A report conducted by the Higher Education Academy analyses
the advantageous properties of postgraduate degrees, and the statistics speak
for themselves. Fifty-eight per cent of those studying a master’s degree do so
to progress within a current job, 54 per cent to improve employment prospects,
and 21 per cent to enter a certain role. Similarly, 12 per cent more
postgraduates were in a high skilled job than those in the same position, but,
with only an undergraduate degree. Those under 30 who had successfully
completed a master’s degree earned approximately £3,500 extra a year, while
those in the ‘working age’ bracket, laid claim to an additional £6,000 per
annum.
Which course?
There is no denying that the significant emphasis which has
been placed on studying STEM subjects over the past decade has been done with
reason. Monster, who specialise in professional development, analysed the
various master’s degrees on offer, and which of these courses pay relate to the
highest earners. The top 10 highest earning roles which developed from a
postgraduate course are closely linked to science, technology, engineering, and
mathematics; finance, healthcare, and telecommunications all rank highly on
Monster’s list. Nurse Anesthesia, as a role, however, is the most highly paid on
their list. The Complete University Guide on the other hand has postgraduates
of Business & Administrative Studies as the highest earners, with an
average salary of £46,966.
This is your time. So, make it count.
Whether you’ve just completed your undergraduate degree, are
in the early stages of your career and want to take the next step, or you’re
currently juggling a career and family, this is your time. Use it wisely –
develop your knowledge, pursue your interests, build your skills and career,
and join a talented, global learning community filled with ambitious,
inquisitive people – just like you.
Obviously, there are a host of things to consider before
choosing a postgraduate
degree, yet, the various points touched upon within this article might be
able to help you when you are making the decision.
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Created on Sep 24th 2019 05:07. Viewed 439 times.