is master's degree and phd the same

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• Master’s vs PhD | A Complete Guide to the Differences

Master's vs PhD | A Complete Guide to the Differences

Published on November 27, 2020 by Lauren Thomas . Revised on June 1, 2023.

The two most common types of graduate degrees are master’s and doctoral degrees:

• A master’s is a 1–2 year degree that can prepare you for a multitude of careers.
• A PhD, or doctoral degree, takes 3–7 years to complete (depending on the country) and prepares you for a career in academic research.

A master’s is also the necessary first step to a PhD. In the US, the master’s is built into PhD programs, while in most other countries, a separate master’s degree is required before applying for PhDs.

Master’s are far more common than PhDs. In the US, 24 million people have master’s or professional degrees, whereas only 4.5 million have doctorates.

Table of contents

Master’s vs phd at a glance, which is right for you, length of time required, career prospects, costs and salaries, application process, other interesting articles, frequently asked questions about master's and phd degrees.

The table below shows the key differences between the two.

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A PhD is right for you if:

• Your goal is to become a professor at a university or some other type of professional researcher.
• You love research and are passionate about discovering the answer to a particular question.
• You are willing to spend years pursuing your research even if you have to put up with a lot of dead ends and roadblocks.

A master’s degree is the better choice if any of the following apply:

• You want to continue studies in your field, but you’re not committed to a career as a professional researcher.
• You want to develop professional skills for a specific career.
• You are willing to pay a higher upfront cost if it means finishing with your degree (and thus being able to work) much faster.
• You want the option to study part-time while working.

The length of time required to complete a PhD or master’s degree varies. Unsurprisingly, PhDs take much longer, usually between 3–7 years. Master’s degrees are usually only 1–2 years.

Length of a master’s

Master’s degrees are usually 2 years, although 1-year master’s degrees also exist, mainly in the UK.

Most of the degree consists of classes and coursework, although many master’s programs include an intensive, semester-long master’s thesis or capstone project in which students bring together all they’ve learned to produce an original piece of work.

Length of a PhD

In the US, a PhD usually takes between 5 and 7 years to complete. The first 2 years are spent on coursework. Students, even those who choose to leave without finishing the program, usually receive a master’s degree at this point.

The next 3–5 years are spent preparing a dissertation —a lengthy piece of writing based on independent research, which aims to make a significant original contribution to one’s field.

Master’s degrees tend to prepare you for a career outside of academia, while PhDs are designed to lead to a career in research.

Careers for master’s graduates

There are two types of master’s degrees: terminal and research-intensive. The career prospects are different for each.

Terminal master’s degrees are intended to prepare students for careers outside of academia. Some degrees, known as professional degrees, specifically prepare students for particular professions; these include the Master of Public Policy (MPP), Master of Business Administration (MBA), Doctor of Physical Therapy (DPT), Master of Fine Arts (MFA), and Master of Public Health (MPH) degrees.

Other master’s degrees, usually Master of Arts (MA) or Master of Sciences (MS or MSc) degrees, do not necessarily lead to a specific career, but are intended to be a final degree. Examples include an MS in Communications or MS in Data Analytics.

In research-intensive master’s programs, students take coursework intended to prepare them for writing an original piece of research known as the master’s thesis . Such programs are usually intended to prepare for further study in a doctoral program.

Careers for PhD graduates

As research degrees, PhDs are usually intended to lead to an academic career. A PhD can be thought of like an apprenticeship, where students learn from professional researchers (academics) how to produce their own research.

Most students aspire to become a university professor upon the completion of their degree. However, careers in academia are highly competitive, and the skills learned in a doctoral program often lend themselves well to other types of careers.

Some graduates who find they prefer teaching to producing research go on to be teachers at liberal arts colleges or even secondary schools. Others work in research-intensive careers in the government, private sector, or at think tanks.

Below are a few examples of specific fields and non-academic careers that are common destinations of graduates of those fields.

• Computer Science
• Lab Sciences

Many government jobs, including economists at a country’s central bank, are research-intensive and require a PhD. Think tanks also hire economists to carry out independent research.

In the private sector, economic consulting and technology firms frequently hire PhDs to solve real-world problems that require complex mathematical modeling.

Graduate students from the humanities are sometimes hired by museums, who can make use of their research and writing skills to curate exhibits and run public outreach.

Humanities PhDs are often well-suited to research and grant-writing roles at nonprofits. Since so much of research is funded by grants, PhD students often gain a lot of experience applying for them, which is a useful skill in the nonprofit sector.

There are a wide range of non-academic research jobs for lab scientists with doctorates in subjects like chemistry, biology, ecology and physics.

Many PhD graduates are hired by pharmaceutical companies that need to perform research to create and test their products. Government agencies, such as the Environmental Protection Agency (EPA), also hire lab scientists to work on research projects.

Job prospects after graduation vary widely based on the field. In fields like management, computer science, statistics, and economics, there’s little underemployment—even graduates from less well-known programs can easily find jobs that pay well and use the skills they’ve gained from the PhD.

However, in other fields, particularly in the humanities, many PhD graduates have difficulty in the job market. Unfortunately, there are far more PhD graduates than assistant professor roles, so many instead take on part-time and low-paid roles as adjunct instructors. Even non-academic careers can sometimes be difficult for PhDs to move into, as they may be seen as “overqualified”  or as lacking in relevant professional experience.

Because career options post-PhD vary so much, you should take the time to figure out what the career prospects are in your field. Doctoral programs often have detailed “placement” records online in which they list the career outcomes of their graduates immediately upon leaving the program. If you can’t find these records, contact the program and ask for them—placement information should play an important role in your choice of PhD program.

Although PhDs take far longer to complete, students often receive a living stipend in exchange for being a teaching or research assistant. Master’s degrees are shorter but less likely to be funded.

Both master’s degrees and PhDs lead to increased salaries upon graduation. While PhDs usually earn a bit more than those with a master’s degree, in some fields, the wages are identical, meaning that no financial benefit is gained from going on to a PhD.

Cost of a master’s

The upfront cost of a master’s degree is usually higher than a doctoral degree due to the lower amount of financial aid available. However, increased salaries also arrive faster than with a doctoral degree, because people graduate much earlier from a master’s program.

Some master’s students do receive stipends for their degrees, usually as compensation for being a teaching or research assistant. In addition, many people complete master’s degrees part time while working full-time, which allows them to fund their living costs as well as tuition.

The cost varies significantly by school and program. Public schools are usually cheaper than private ones. Some master’s degrees, such as MBAs, are notoriously expensive, but also result in much higher wages afterwards that make up for the high cost.

The master’s wage premium , or the extra amount that someone with a master’s degree makes than someone with just a high school diploma, is 23% on average. Many universities provide detailed statistics on the career and salary outcomes of their students. If they do not have this online, you should feel free to contact an administrator of the program and ask.

Cost of a PhD

PhDs, particularly outside the humanities, are usually (though not always) funded, meaning that tuition fees are fully waived and students receive a small living stipend. During the last 3–5 years of a PhD, after finishing their coursework (and sometimes before), students are usually expected to work as graduate instructors or research assistants in exchange for the stipend.

Sometimes students can apply for a fellowship (such as the National Science Foundation Graduate Research Program in the United States) that relieves them of any obligations to be a teaching or research assistant. Doctoral programs in the US tend to be better funded than in the rest of the world.

Sometimes, PhD degrees can be completed part-time, but this is rare. Students are usually expected to devote at least 40 hours a week to their research and work as teaching or research assistants.

The main cost of doctoral programs comes in the form of opportunity cost—all the years that students could be working a regular, full-time job, which usually pays much better than a graduate school stipend.

The average wage premium for PhDs is 26%, which is not much higher than the master’s degree premium.

In the US, the application process is similar for master’s and PhD programs. Both will generally ask for:

• At least one application essay, often called a personal statement or statement of purpose .
• Letters of recommendation .
• A resume or CV .
• Transcripts.
• Writing samples.

Applications for both types of programs also often require a standardized test. PhDs usually require the Graduate Record Examination (GRE), which tries to measure verbal reasoning, quantitative, critical thinking , and analytical writing skills. Many master’s programs require this test as well.

Applying for a master’s

Master’s degrees programs will often ask you to respond to specific essay prompts that may ask you to reflect upon not just your academic background, but also your personal character and future career ambitions.

Northwestern University’s Kellogg Business School requires Master’s of Business Administration (MBA) applicants write two essays, one about a recent time they demonstrated leadership and the second about their personal values.

Who you should ask for your letters of recommendation varies by program. If you are applying to a research-intensive master’s program, then you should choose former professors or research supervisors. For other programs, particularly business school, current work supervisors may be a better choice.

Some professional master’s programs require a specific test. For example, to apply to law school, you must take the Law School Admissions Test, or LSAT. For business school, you must take either the GRE or the Graduate Management Admissions Test (GMAT).

Applying for a PhD

When applying for a PhD, your resume should focus more on your research background—you should especially emphasize any publications you’ve authored or presentations that you’ve given.

Similarly, your statement of purpose should discuss research that you’ve participated in, whether as an assistant or the lead author. You should detail what exactly you did in projects you’ve contributed to, whether that’s conducting a literature review, coding regressions, or writing an entire article.

Your letters of recommendations should be from former professors or supervisors who can speak to your abilities and potential as a researcher. A good rule of thumb is to avoid asking for recommendations from anyone who does not themselves have a PhD.

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A master’s is a 1- or 2-year graduate degree that can prepare you for a variety of careers.

All master’s involve graduate-level coursework. Some are research-intensive and intend to prepare students for further study in a PhD; these usually require their students to write a master’s thesis . Others focus on professional training for a specific career.

A PhD, which is short for philosophiae doctor (doctor of philosophy in Latin), is the highest university degree that can be obtained. In a PhD, students spend 3–5 years writing a dissertation , which aims to make a significant, original contribution to current knowledge.

A PhD is intended to prepare students for a career as a researcher, whether that be in academia, the public sector, or the private sector.

This depends on the country. In the United States, you can generally go directly to a PhD  with only a bachelor’s degree, as a master’s program is included as part of the doctoral program.

Elsewhere, you generally need to graduate from a research-intensive master’s degree before continuing to the PhD.

This varies by country. In the United States, PhDs usually take between 5–7 years: 2 years of coursework followed by 3–5 years of independent research work to produce a dissertation.

In the rest of the world, students normally have a master’s degree before beginning the PhD, so they proceed directly to the research stage and complete a PhD in 3–5 years.

A master’s degree usually has a higher upfront cost, but it also allows you to start earning a higher salary more quickly. The exact cost depends on the country and the school: private universities usually cost more than public ones, and European degrees usually cost less than North American ones. There are limited possibilities for financial aid.

PhDs often waive tuition fees and offer a living stipend in exchange for a teaching or research assistantship. However, they take many years to complete, during which time you earn very little.

In the US, the graduate school application process is similar whether you’re applying for a master’s or a PhD . Both require letters of recommendation , a statement of purpose or personal statement , a resume or CV , and transcripts. Programs in the US and Canada usually also require a certain type of standardized test—often the GRE.

Outside the US, PhD programs usually also require applicants to write a research proposal , because students are expected to begin dissertation research in the first year of their PhD.

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Master’s vs. Ph.D.: What’s the Difference and Which One to Choose?

If graduate school is on your radar, one of the first things to consider is what type of degree you should pursue . While a bachelor’s degree is required for any postgraduate study, many people think you need a master’s to pursue a Ph.D., but that isn’t always the case. While there are benefits to receiving your master’s degree before your Ph.D., it’s not always necessary or required. However, there are important differences to note when deciding which type of program to apply to.

Master’s degree

A master’s degree usually takes about two years to complete full time. There are programs that allow a student to attend on a part-time basis, but that of course extends the completion time. Many master’s programs require a thesis to be completed, but not all. A thesis is a research project that is completed during the final year of a master’s program under the guidance of your program chair or advisor.

Under the master’s umbrella, there are quite a few specific degrees you can obtain. Your professional path will determine which of these you pursue.

• Master of Arts (MA) is given for disciplines in the arts and social sciences.
• Master of Science (MS) is given for sciences, health, engineering and statistics.
• Master of Research (MRes) is focused on training students to become researchers. This is advantageous to a student if they’re pursuing a research-based career or planning to apply for a Ph.D. program.
• Master by Research (MPhil) is similar to a MRes but is more advanced and focuses on research topics to be explored in depth. It’s often considered a precursor to a Ph.D. program.

Specialized master’s degrees

There are numerous specialized master’s degrees that are categorized by profession. These are often (not always) preceded by some professional experience prior to undertaking these types of advanced degrees.

• Master of Business Administration (MBA)
• Master of Library Science (MLS, MLIS, MSLS)
• Master of Public Administration (MPA)
• Master of Public Health (MPH)
• Master of Social Work (MSW)
• Master of Laws (LLM)
• Master of Education (MEd, MSEd, MIT, MAEd, MAT)
• Master of Engineering (MEng)
• Master of Architecture (MArch)
• Master of Fine Arts (MFA)
• Master of Divinity (MDiv)

Ph.D. (Doctor of Philosophy)

There are many Ph.D. programs and, in general, it’s considered the most advanced type of research degree you can obtain. Ph.D. candidates are required to complete a dissertation to obtain their degree. Unlike a thesis, a dissertation is longer and consists of original research conducted throughout the entire doctoral study. In some cases, students may be awarded a stipend, or pay, to complete the doctoral program and dissertation.

Ph.D.’s take a considerably longer time to complete than a master’s, five to eight years on average, and they carry a rather high rate of noncompletion due to time and financial commitments. Many Ph.D. programs have stipends available, so it’s important to inquire about that when researching a particular program.

Specialized doctorate programs

As with master’s degrees, there are several specialized doctorate programs specific to different disciplines and areas of study:

• Doctor of Business Administration (DBA)
• Doctor of Engineering (EngD/PhD)
• Doctor of Education (EdD/D.Ed)
• Doctor of Social Science (DsocSci)
• Doctor of Professional Studies (DProf)
• Doctor of Architecture (DArch)
• Doctor of Theology (Th.D)
• Doctor of Divinity (DD/DDiv)
• Doctor of Science STEM (Dsc/ScD)
• Doctor of Science Arts & Humanities (DLitt/LitD)

When deciding which one to get, consider your immediate or long-term career goals — which degree would serve you best? In some cases, you can obtain a Ph.D. with just a bachelor’s degree, but often it’s recommended you get a master’s first for the research experience that will be required for a Ph.D.

As with anything, there are exceptions. Students in law school obtain a J.D. (Juris Doctor) but can then further obtain a master’s in a sub-specialty like tax or immigration law. The health care occupations of physical therapist and pharmacist are also doctorate programs obtained post undergrad.

Making your choice

As with any decision, weigh your options, list pros and cons, and go from there. Once you’ve narrowed your options , you’ll have a precise list of programs and institutions generated for your specific goals.

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Master’s vs PhD — These are the Main Differences

The consideration between earning a master’s vs PhD is not always an easy choice. While many careers and personal aspirations may be complete with just an undergraduate degree (Associate’s or Bachelor’s), a lot of people continue their higher education to obtain graduate degrees. These include a master’s and/or a PhD.

Neither a master’s degree nor a PhD is considered to be a walk in the park. Therefore, it’s useful to understand why you would earn either and then decide how far to go.

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Definitions: master’s vs phd.

Bost a master’s and PhD are defined as postgraduate degrees, but they require different commitments and styles of learning.

1. Master’s Degree:

Mostly all master’s degrees will require the completion of an undergraduate bachelor’s degree to enroll. They generally all share the same common requirement for a thesis or dissertation to graduate.

Earning a master’s degree through a taught program will result in the completion of a Master of Art (MA), Master of Science (MS), or Master of Philosophy (MPhil). For those who earn their master’s degree through research, they will earn a Master of Research (Mre), in a tailored field of study. There are also degree-specific master’s programs like Master of Business Administration (MBA) and Master of Education (M.Ed).

After earning a master’s degree, the next step is a PhD, which entails both working and performing research at an institution. A PhD is an abbreviation for “Doctor of Philosophy.” It is the highest academic degree one can achieve. As such, it is a time-consuming pursuit that requires a lot of studying and research.

You may be wondering, “Do you need a master’s to get a PhD?”

Technically, the answer is not always. Some students skip a master’s and go straight for their PhD, but they may lack research experience. While it could save money, the transition between a bachelor’s and a PhD is incredibly sharp. It may be harder to complete a PhD without the experience from a master’s.

Yet, some institutions may allow for the possibility to earn both your master’s and PhD in conjunction with one another. This will alleviate the transition between skipping a master’s and going straight to earning a PhD.

Should You Get a Master’s or PhD?

There are many considerations to factor when deciding between a master’s of PhD. For starters, it’s useful to consider the amount of time it will take, the cost, and the benefits and disadvantages of each. It is also of utmost importance to explore your own personal goals and reasons for wanting a graduate degree.

If your desired career of choice requires a PhD, like becoming a university professor, then you have your answer. If you want to start a business and benefit by networking while in school, a Master of Business Administration (MBA) could be a good idea. Consider what you want to pursue as a career and find out the requirements first.

Another useful thing to note is that a master’s degree can be used for a shift in careers. For example, if you attended college and earned a bachelor’s degree in humanities, but now you want to pursue science, you can still earn your master’s degree in a scientific discipline. On the other hand, a PhD is tailored to your field of study and specialty, so it will require that you are sure of your direction when you first earn your master’s degree.

Length of Time

A typical master’s degree program takes about two years full-time. However, there are accelerated programs that can be completed in just a year or so.

A PhD, in general, requires five to six years of studying, teaching, and research. However, it may even take some students up to eight or nine years to graduate. With this significant investment in time, it’s necessary to know if a PhD is right for you before starting.

The cost of both programs varies by institution and enrollment status of part-time versus full-time. However, since a PhD takes longer to complete, it will end up costing more. With that said, if you look into your return on investment, a PhD could end up yielding a higher salary, and therefore end up “costing less.”

Additionally, there is also the possibility of being paid to complete your PhD. Some students may receive an academic stipend, a university fellowship or apprenticeship or a reduced fee to earn their PhD while completing research (or teaching) at an institution. It’s also possible to get financial aid through a scholarship or grant.

As tuition rates continue to rise, it’s useful to look into alternative institutions for affordable education. For example, the University of the People offers a tuition-free master’s program in Business Administration and Education. This means you can study 100% online and graduate for less than the cost of most programs.

Weighing the Benefits

When comparing the two degree types, here are some benefits of each:

• Career-oriented
• Can open the door for more job opportunities
• Costs less than a PhD
• Takes less time than a PhD
• Helps you stand out from those with only an undergraduate degree
• You can perform research in your field of choice
• You become an expert in your field
• The prefix Dr. is added to your name
• You can teach in academia at the highest level

Required Commitment and Reasons to Pursue

Both a master’s and a PhD require a huge amount of hard work and utter commitment. You must be dedicated and motivated to complete either degree. Since most careers only may require a bachelor’s degree, having a master’s or PhD will set you apart from the competition. However, this should not be the sole reason to pursue either.

You may be wondering why would you earn either degree. Here’s a look at some motivational factors:

Reasons to Study for a Master’s

• Your career requires it (see next section)
• You want to advance your subject knowledge
• You want to experience graduate school and network with peers

Reasons to Study for a PhD

• You want to contribute new research to your field of choice
• Your career requires a PhD
• You want to earn the title of Dr.

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Required degrees by career.

Most people are motivated to pursue higher education because their desired careers require they do so. Here, we will break down those fields that require the completion of a master’s degree as it’s high on the list of reasons why to get one.

• Education Administration: To work as an administrator in an educational institution, you need to hold an advanced degree. A Master’s in Education (M.Ed) will provide you with the necessary knowledge and required skills to succeed in the field.
• Executive Level Business: A Master’s in Business (MBA) will not only place you ahead of the competition to land high-level positions in the field of business, but it can also be the jumping off point for becoming your own boss.
• Environmental Science: With issues in climate change and technological advancement, careers in Environmental Science are growing. As with most scientific careers, it requires a master’s degree where you will learn Applied Ecology, Environmental Policy, Environmental Chemistry, and more.
• Mental Health: To become a licensed practitioner and assist in mental health counseling, you will continue your education through a master’s degree in the field.
• Physical Therapy: Employers of physical therapists often prefer them to obtain a master’s degree in the discipline as the field is highly specialized.

Of course, some careers require a PhD. These careers are easy to spot because they have the prefix Dr. in front of them or the suffix like J.D. (Juris Doctor). To become a lawyer, doctor of medicine, veterinary medicine or psychologist/psychiatrist, you must obtain a PhD in the respective field.

Salary Differences Between Master’s and Ph.D. Graduates

According to a study performed by the Georgetown University Center on Education and the Workforce , the overall evidence shows that the higher the degree you have, the higher your salary potential. However, the differences vary by subject level and field.

In general, the expected lifetime earnings of those with each degree level is as follows:

• High School Diploma: $973,000
• Bachelor’s Degree: $1.3 million
• Master’s Degree: $2.7 million
• Doctorate Degree: $3.3 million

The Bottom Line

Aside from the financial cost and length of time, the opportunity to earn a master’s and a doctorate degree can offer several benefits.

However, it is an undertaking that requires a lot of dedication and motivation on behalf of the student. As such, it’s important to perform research on your desired career’s requirements, as well as your personal interest in pursuing either a Phd vs master’s.

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Should I Pursue A Master’s or A Ph.D.?

The first step in deciding on the right graduate program for you is to figure out which degree will best serve you—a master’s or a doctor of philosophy (Ph.D.). Here are a few factors to consider.

What are your career goals?

• Professional master’s: A good choice if you want to develop a particular skill set in order to practice a particular profession. This type of degree provides coursework focused on learning and practicing skills.
• Research master’s: A good fit if you want to gain expertise in a discipline and know how to teach it. A research master’s typically includes a research project or thesis and comprehensive exams in addition to coursework and provides experience in research and scholarship.
• Ph.D. (doctor of philosophy): Consider this option if your goal is to ground yourself in a body of research and develop the ability to add to that body of knowledge. Ph.D. study includes a major research project in addition to coursework, and a Ph.D. is the highest scholastic degree awarded by American universities. Contrary to common perception, career paths for Ph.D. graduates are quite varied, not just limited to academia. Ph.D. training helps you hones skills such as writing, research, teaching, data analysis, communicating complex topics—all of which can translate into many sectors, including industry, government, nonprofit, and entrepreneurship.

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How much time do you have to pursue a graduate degree?

Master’s degrees typically take two years to complete, while Ph.D. programs generally take five to seven years ( see Duke programs' time-to-degree ). That is a significant difference in commitment and opportunity costs. It might also play a key role in deciding which factors take higher priority as you evaluate a program. How does the length of the program fit with your career and family plans? How important is the surrounding community if you are going to be there for seven years instead of two? How long are you able or willing to go on a limited income while in graduate school?

How much can you afford to pay for a graduate degree?

Consider your personal financial situation (e.g., how much savings and student loans do you have), as well as how much financial aid you can get. Master’s and Ph.D. programs differ greatly in the amount of financial aid available. Ph.D. programs tend to offer significantly more financial support than master’s programs (but often will have research or teaching requirements). 

A typical Ph.D. financial aid package usually includes coverage of tuition and fees, a living stipend, and some level of support for health insurance for a set number of years. For instance, Duke’s standard Ph.D. package covers tuition, mandatory fees, and a stipend for five years, as well as health insurance premiums for six years. 

Within an institution, the level of financial support often differs across programs, so be sure to ask your specific program about the financial aid it offers. There are also many national organizations that provide competitive fellowships and scholarships for graduate students.

Know which degree you want to pursue? Here are some key things to look for in a program .

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What Is the Difference Between a Master’s Degree and a Ph.D.?

In the United States, 13.1% of people have a master’s, doctorate, or other advanced degree. Along with the wealth of knowledge and skills you can get from an advanced education, becoming a graduate student is a great way to stand above the remaining 86.9% of Americans as you work toward your career goals.

The most common types of advanced degrees are the master’s degree and the Ph.D. Both are great options for continuing education but still have many differences. 

Do you want to learn more about each of these advanced degrees? Keep reading this article for everything you need to know about the difference between a master’s degree and a Ph.D.

Course Structure

When you are getting an advanced degree, it is important to consider the course structure of each program you are interested in. This way, you can find one that helps you learn in the way that makes the most sense to you. 

With a master’s degree, you can expect primarily to do coursework throughout the first three semesters. The remaining requirements are composed of a capstone project or thesis that culminates everything you will have learned during your program. 

With a Ph.D., you will typically do two years of coursework. After you have completed this work, you will take the remaining years to prepare your dissertation. This requires a lot of research and writing and will allow you to contribute new research to current industry knowledge. 

Degree Length

Another significant difference between a master’s degree and a Ph.D. program is the length of time they take to complete. Master’s programs are much shorter and will typically take two years to complete. Some universities even offer accelerated programs that allow you to complete your master’s degree within a single year. 

Ph.D.s take much longer to complete—anywhere from 5-6 years! There are a lot of things to cover in any field as you pursue a doctorate. What’s more, the research and writing process of a dissertation can be quite time consuming.

The doctorate degree in the United States is typically inclusive of the curriculum you would receive for a master’s in the same field, with more in-depth study beyond that. Outside of the United States, you will likely have to get a separate master’s degree before you start your Ph.D.

Culmination of Degree

As was mentioned before, the culmination of both master’s degrees and doctorate degrees differ. There are a few main differences between a dissertation and a thesis . 

For a master’s degree, you are expected to complete a capstone course or a thesis. This is a paper that is limited to about 40,000 words. The point of a thesis is to allow graduate students to present their research findings and show their aptitude in their field.

The master’s thesis allows you to demonstrate your knowledge about the research area and prove that you can contribute to scholarly work. Once you have completed your thesis, you will go through an extensive editing process before it can be published. 

A doctorate degree requires the completion of a dissertation. A dissertation is much longer than a master’s thesis and can be anywhere between 100 to 300 pages long. 

Dissertations also typically require an oral defense. You will present your work to a committee and will answer questions about the methodology and interpretation of your dissertation. 

To choose the best type of advanced degree for your circumstances, it is also important that you consider the cost of both master’s degrees as well as Ph.D. programs. Comparing degree costs will help you find a degree that you can afford.

Because a Ph.D. takes much longer to complete than a master’s degree, you can expect it to cost a lot more too! That said, many Ph.D. programs provide funding to students. While this funding or stipend is not much, it will often cover the cost of tuition and living expenses. 

On the other hand, you are completely responsible for your livelihood while pursuing a master’s degree. That means you’ll have to work hard outside of school, reminding yourself that your future career prospects will likely help you make back what you’ve spent (and then some!).

With a Ph.D., you will take longer to graduate, but you will get a higher return on your investment with an even higher average salary than that of a master’s degree holder.

If you pursue an online graduate degree , you can find much more affordable options for both master’s degrees and doctorate degrees. These also make it much easier to study while you continue to work or pursue other endeavors. 

Future Potential 

Finally, you need to consider your future potential when it comes to both of these advanced degrees. While money isn’t the only thing that you should consider, you need to know that you will be able to get a reliable job once you graduate with your degree. 

With a master’s degree, you will open the door for more job opportunities but not necessarily different career prospects. On the other hand, those with a Ph.D. typically do research for their job, often at a university. This allows you to contribute new data to your field and as well as to become an expert in your industry. 

You should also consider your potential salaries with both graduate degrees. Both degrees will advance your career and increase your money-making potential. However, you will almost always be able to make more money when you have a Ph.D. 

Becoming a Graduate Student? Learn More About a Master’s Degree and Ph.D.

When you are considering continuing education, there are many different types of degrees to choose from. Both a master’s degree and a Ph.D. are great options to achieve your education and career goals. By learning more about these differences between graduate degrees, you can find the option that works best for your needs. 

Do you want help with the advanced degree application process? Abound Grad School can help! Check out our website today to learn more about your education options as a graduate student and to find the best graduate school for you .

Ana -Marcela joins the team as an outreach associate and assistant editor. She values the pursuit of knowledge and is excited to use her research and writing skills to help others fuel their intellectual curiosity.  Ana -Marcela is a native Austinite and she earned her Bachelor’s in English Literature from St. Edward’s University. Her favorite author is Gabriel Garcia Marquez.  Ana -Marcela spends her free time hiking the greenbelt, cruising the aisles of half price books, or cuddling her cats.

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Master’s vs . Ph.D.

Compare Master’s vs. Ph.D. programs with our in-depth look at their duration, research requirements, and career impacts, guiding you to the right choice for your academic goals.

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• Introduction
• What is a Master’s Degree?
• What is a Ph.D. / Doctorate Degree?
• Differences in Admission Process

Differences in Degree Requirements

• Differences in What Programs Entail
• Differences in Costs
• Differences in Careers, Employment, and Salaries

Additional Resources

Written By - Derick de Souza

The master’s and Ph.D. are two different levels of education. Which is better suited for an individual largely depends on the person’s career aspirations and personal and professional development needs.  The differences are structural, programmatic, or conditional. And although there are similarities between the two,  they serve different purposes and cater to different needs.

The master’s and a Ph.D. vary in:

• Admission Requirements
• Program Requirements
• Program Delivery & Duration

This resource guide touches upon both programs, the many benefits they offer, key differences, and other insights, all of which can help those at the crossroads of deciding between a master’s and a Ph.D. make an informed choice.

Table Of Contents

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Southern New Hampshire University

Program: online masters degrees.

Southern New Hampshire University is a  private, nonprofit, accredited institution with more than 3,000 on-campus students and over 60,000 online students,  making us one of the fastest-growing universities in the country. Founded in 1932, we’ve been relentlessly reinventing higher education ever since and have gained national recognition for our dedication to helping students transform their lives and the lives of those around them.

We’re proud to provide affordable, accessible education that students can pursue on our 300-acre campus in Manchester, NH, over our innovative online platform or at our regional centers in Manchester, Nashua, Portsmouth and Salem, NH, and Brunswick, ME.

SNHU has earned the GetEducated.com  Best Buy and Best of Business – Best Online Degree awards  and is consistently ranked as a top Military Friendly® School by G.I Jobs®.

What Is a Master’s Degree?

A master’s degree is a graduate-level program that mostly requires completing an undergraduate bachelor’s degree to enroll in. This degree typically consists of basic courses, electives, practicum experience, an internship, and a thesis . Master’s degrees also offer concentrations and specializations across various topics, making it easier for students to prime themselves for unique jobs in various work settings. Depending on these critical aspects and the type of degree, students generally require 1 to 3 years to graduate.

Some of the most common and popular types of master’s degrees are:

• Master of Arts (MA)
• Master of Science (MS)
• Master of Business Administration (MBA)

Some common but less popular master’s degrees are:

• Master of Philosophy (MPhil) – one of the best foundations for a Ph.D.
• Master of Law (LLM)
• Master of Education (MEd)
• Master of Public Administration (MPA)
• Master of Social Work (MSW)
• Master of Research (MRE)

Master’s programs further branch out into several specializations, which demonstrate how they tend to target specific careers and sectors, such as:

degree by subject

Find online masters degree by subject.

• Computers & Technology
• Education & Teaching
• Liberal Arts & Humanities
• Nursing & Healthcare

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The Master of Business Administration (MBA) is another fine example of a master’s that offers several specializations leading to promising careers. An MBA degree can be earned in, but are not limited to:

• Entrepreneurship
• International Business
• Healthcare Management
• Human Resources
• Nonprofit Management
• Project Management
• Supply Chain Management

A master’s program is best suited if:

• the student’s career is based on it and requires it, or they
• wish to advance their subject knowledge far more than what a bachelor’s program has to offer or may
• have to shift careers from one field or discipline to another.

What Is a Ph.D. or Doctorate Degree?

The Ph.D. is an abbreviation for “Doctor of Philosophy” and is the highest academic degree one can achieve. To enroll in a Ph.D., a master’s degree is usually required, although some programs accept bachelor’s degree holders. The program includes coursework, research courses, a comprehensive exam, and a dissertation . By and large, this degree entails substantial research work that may typically stretch the time to graduation from anywhere between 3 and 8 years, making it a time-consuming pursuit.

A Ph.D. degree is best suited for educators at the university level, either in teaching, research, or both. Many students pursue their Ph.D. while simultaneously doing academic work.

Another type of doctoral degree is the Professional Doctoral Degree, which focuses on building specific career skills and teaches students how to apply research to practice within their field. This degree is better applied to sectors outside of education and is best suited for students interested in professional careers rather than academic ones. Some examples of Professional Doctoral Degrees include:

• Doctor of Medicine (MD)
• Doctor of Pharmacy (PharmD)
• Doctor of Healthcare Administration (DHA)
• Doctor of Public Health (DPH)
• Doctor of Psychology (PsyD)
• Doctor of Social Work (DSW)
• Doctor of Business Administration (DBA)
• Doctor of Information Technology (DIT)
• Doctor of Computer Science (DCS)
• Doctor of Education (EdD)
• Juris Doctor (JD)

Whether or not a Ph.D. is a good pursuit depends on certain factors. A Ph.D. program is best suited if:

• the student’s career is based on it and requires it (especially senior positions in educational settings, such as a university professor), or they
• would like to take up or contribute to research in their chosen field of study, or they
• want to earn the title of “Dr.” that is prefixed to their name.

Note:   A Ph.D. has become increasingly important even in sectors other than education. Many businesses and nonprofits employ doctorates for top jobs and research with their organization.

Master’s vs. Ph.D.: Differences in Admission Process

While the process of admission to a master’s or Ph.D. program is largely the same, there are some key differences in their eligibility criteria and other admission requirements. Here is a chart that highlights some of these masters vs. Ph.D. admission differences:

When it comes to admission, a Ph.D. typically requires students to submit any research work they may have undertaken in their graduate studies and face an interview, either one-on-one or in front of a select committee. Master’s programs generally do not require or consider research for admission and seldom ask applicants to appear for an interview (although some business schools do).

Additionally, the GMAT or GRE may be required for master’s and doctoral students, depending on the program, institution, and when they are applying. Because scores are valid for five years, students won’t necessarily need to retake the exams if they enroll in a Ph.D. program after a master’s. It is also noteworthy that while many universities waive GMAT and GRE requirements, doctoral programs also frequently waive score submissions for those who recently graduated with a master’s degree or have substantial work experience.

Both the master’s and Ph.D. programs can demand time, effort, and cost. They also require higher levels of dedication and commitment than one expects from undergraduate programs. Students should know what it takes to pursue and complete these challenging degrees by understanding their many requirements. Here are the typical masters vs. Ph.D. degree requirements:

Master’s vs. Ph.D.: Differences in What Programs Entail

While a master’s program is intended to broaden and improve professional knowledge and abilities, a Ph.D. is a research-intensive program that aims to fill knowledge gaps in the industry by developing critical research, analytical, and writing abilities. To achieve this, both use distinct approaches to coursework and study. Here are the typical masters vs. Ph.D. program differences:

Master’s vs. Ph.D.: Differences in Costs

According to the Education Data Initiative, the average cost of a master’s degree is $66,340 [1] , while a doctorate is $114,300 [2] . These being average costs, one must note that the range of a master’s degree could be from $26,230 a year for a program from the University of Michigan’s School of Public Policy to $112,760 for a 2-year full-time MBA degree from Harvard Business School [1] . Similarly, a Ph.D. could range from $47,500 for a 2-year full-time online doctoral degree in Education at Thomas University to $294,200 for a traditional 8-year Doctorate in Philosophy at New York University [2] . But the exact cost of programs heavily depends on several factors, such as:

• The Type and Reputation of the College – Public, private, for-profit, or nonprofit institutions; in-state or out-of-state tuition; and the reputation and popularity of the college are some determining factors that drive cost.
• Structure, Duration, and Time to Graduation – The enrollment status of full-time or part-time, the number and type of courses one opts for, and the total number of credit hours (consequently) required by the program can adversely impact the cost. Online courses typically cost less than their in-person counterparts. 
• Transfer Credits – Credits can have a bearing on cost; for those who have accrued credits during a graduate program or professional certification, transferring credits can help defray the cost to quite some extent.
• Return on Investment – Although this is not categorically a “cost,” the potential of repaying student loans or recovering money from an investment in education can mitigate the burden on an individual’s finances and drive them to make informed decisions while choosing the right program. For example, since a Ph.D. typically yields higher salaries, the program’s cost can arguably end up “costing less,” or at least convey that notion. It is also noteworthy that to get to this stage of higher yield, students would have had to pay for their master’s and Ph.D. programs, which can make this hypothesis highly arbitrary.
• Funding Options and Availability – Although both programs can be funded through external sources, the number of funding options, the quantum of money available for award, and easy access and availability of funds can adversely affect cost. Although scholarships and grants are common funding mechanisms, Ph.D. students can sometimes have the advantage of teaching for an academic stipend and pursuing their studies simultaneously, having their programs fully funded by their universities, or having their employers reimburse tuition. Some organizations also fund Ph.D. students for their research.

Master’s vs. Ph.D.: Differences in Careers, Employment, and Salaries

Depending on the discipline and occupation, a master’s degree may suffice or require a doctoral degree. For example, professors, psychologists, physicists, and biologists are considered qualified when they have a Ph.D. In certain states, a Ph.D. is required to qualify for licensure. But for most professions, such as business administration, human resources, and engineering, a master’s degree is usually adequate.

In general, master’s graduates can expect professional careers in a broad spectrum of work settings across industries and sectors based on their specialization and type of degree. Those with Ph.D. degrees commonly find careers in top-level management or top research and scientific posts and universities as senior faculty members.

When one compares average salaries, a study by the Georgetown Center on Education and the Workforce finds (on page 3) that “there is strong evidence that advanced education levels continue to be associated with higher salaries ” [3] . But one should note that salaries ultimately depend on a person’s qualifications, skills, certifications, licensure, experience, exposure, expertise, sector, location, and more. According to The College Payoff [4] , which offers a comprehensive overview of the trends, challenges, and vulnerabilities existing in the current U.S. graduate education system, the expected median lifetime earnings of individuals at different educational levels are:

• Without a High School Diploma: $973,000
• With a High School Diploma: $1,304,000
• With a Bachelor’s Degree: $2,268,000
• With a Master’s Degree: $2,671,000
• With a Doctoral Degree: $3,252,000

FAQs About Master’s vs. Ph.D.

Frequently asked questions, should i get a master’s or a ph.d..

The answer to this question depends on one’s personal and professional goals – what knowledge and skills one wants to acquire, what career path and job one wants to pursue, and the time, dedication, and commitment one can put into their studies and/or research. A master’s degree can lead to rewarding senior management and leadership careers. In contrast, a Ph.D. can lead to lucrative jobs in top executive positions in various sectors or senior faculty positions at universities.

Is a master’s degree higher than a Ph.D.?

No. A master’s degree is a step above an undergraduate bachelor’s degree, and a Ph.D. is a step above a graduate master’s degree.

Do you need a master’s to get a Ph.D.?

The standard practice for getting a Ph.D. is to pursue a bachelor’s degree, followed by a master’s degree, and then a Ph.D. degree. A master’s degree is usually one of the main admission requirements for a Ph.D. program, with some exceptions.

Can you get a Ph.D. without a master’s degree?

Yes, it is possible to get a Ph.D. without a master’s degree, but under certain conditions. For example, some universities require students to enroll in an MPhil program and then prepare and submit a thesis within a year. If this thesis is accepted, the student will be upgraded from an MPhil to a Ph.D. program. Another option is to pursue an “Integrated Ph.D.” consisting of a 1-year master’s degree, immediately followed by a 3-year Ph.D. degree.

What is the difference between a master’s and MPhil?

A master’s is the title of any graduate-level degree, such as an MA, MS, or MBA. The MPhil, which is an abbreviation for Master of Philosophy , is one such graduate-level degree. This program is popular with students who are certain to move on to a Ph.D. program immediately after their master’s. The MPhil often provides one of the best foundations for Ph.D. studies.

Can you do your Ph.D. and master’s online?

Yes. Depending on the field of study, many universities offer entire online or hybrid (comprising online and in-person classes) master’s and Ph.D. programs. Online programs are best suited for working professionals who do not want to give up their jobs to attend college and those who may have family or other commitments.

How do employers see an online Ph.D. or master’s?

Employers do not distinguish between online and traditional in-person degrees so long as the online degree was earned from an accredited university . Degree certificates typically do not mention whether the program was pursued online or not . Employers are more interested in the individual’s academic performance, skillset, certifications, and other strengths.

For viewpoints, discussions, and data on master’s vs. Ph.D., aspirants of both programs should look for online references and communities that can help them understand the pros and cons of each degree and help them make an informed decision. Here are a couple of resources to get started:

• Academic Positions Academic Positions helps individuals search for jobs from the world’s top universities and research institutions. This site is a great way to explore how a master’s or Ph.D. can impact career prospects and which industries and jobs prefer what degree. The career advice section offers excellent insights as well.
• National Association of Graduate-Professional Students (NAGPS) The National Association of Graduate-Professional Students (NAGPS) connects graduate and professional students across the United States to facilitate sharing information, resources, and best practices. Master’s and Ph.D. students can tap into several resources, such as insights on grad school life, financial information, jobs, thesis/dissertation assistance, and more.

Education Data Initiative – Average Cost of a Master’s Degree

Education Data Initiative – Average Cost of a Doctorate Degree

Georgetown Center on Education and the Workforce

The College Payoff – Education, Occupations, Lifetime Earnings

The rankings, average tuition (based on the degree type for in-state students), and average graduation rates are based on information from several sources, including Integrated Postsecondary Education Data System (IPEDS), and may vary. All rankings and figures mentioned are subject to change. Based on our proprietary methodology , the rankings are purely Online Masters Colleges's (OMC's) opinions. They do not represent the thoughts and opinions of the institutions or organizations mentioned, nor any official government census or survey. Additionally, any views or opinions expressed on this page are those of OMC's researchers and teams. Unless specifically indicated, they do not represent the thoughts and opinions of the people, institutions, or organizations mentioned. This page's provided content is solely for informational purposes, with information drawn from several sources, including IPEDS. OMC or its employees make no guarantees of the accuracy or completeness of any information on this page or found by following any link. OMC will not be held liable for any mistakes or omissions in this material, nor will it be held liable for any losses, injuries, or damages resulting from the exposure or use of this information. Although the material on this page is/was correct at the time of publication, reader discretion is always advised because part or all the provided information may have changed over time, potentially leading to inaccuracies. Please read our Terms of Service for more information. Logos and trademarks are properties of their registered owners

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Land your dream job, the difference between a masters and a doctorate.

There are a lot of degree types out there. Many fall into one of two camps: doctorates and master’s degrees. Both graduate degrees offer a narrower educational focus than the undergraduate experience. The higher the degree, the longer it takes to earn and the more specialized is its focus. We’re taking a closer look at the master’s and doctorate degrees to highlight differences and help you determine which might be most useful to you.

Master’s Degrees

Master’s degrees are more versatile than doctoral degrees, and have a wide range of professional and academic applications. The most common master’s degrees are Master’s of Arts (M.A.) and Master’s of Science (M.S.) . Additionally, there are three types of master’s programs:

• Research Master’s degrees are typically for academic and applied research disciplines. Examples include a Master’s of Arts in Comparative Literature, and Master’s of Science in Biology. In some fields, earning a research master’s degree without going on to earn a Ph.D. restricts your professional options. Figure out what's best for you and your career trajectory by talking with professors or professionals in your field.
• Professional Master’s degrees prepare candidates for professional work by introducing practical skills and frameworks for understanding issues in their field. These degrees may also qualify a person to practice in their field. Examples include a Master’s of Social Work, Master’s of Architecture, or Master’s of Art in Teaching. Most of the degrees featured at Idealist Grad Fairs are professional master’s degrees supporting careers in the social good sector.
• Terminal Master’s degrees are the highest academic degree in their field. While some master’s degrees may serve as the first step towards a doctorate, others—such as a Master’s of Fine Arts in Creative Writing or a Master’s in Library Science—are as high as you can go for academic accreditation in those fields of study.

Before pursuing a master’s degree, candidates must have already earned a bachelor's degree. Master’s programs take one to three years to complete and consist of advanced-level courses and seminars. In some programs, students go on to research, write, and defend a master’s thesis. In professional master’s programs, the thesis is often replaced by final projects and exams.

Doctoral Degrees

The most common doctorate is the Doctor of Philosophy or PhD. These research doctorates prepare students to contribute to the collective knowledge base of the field and offers a unique opportunity for an individual to conduct intensive and prolonged research on a very particular topic, which often leads to publication. With a PhD, many seek careers as professors and researchers, but may also pursue roles in the nonprofit, public, and private sectors. Additionally, there are professional doctorates like the MD (Medical Doctor), and the JD (Juris Doctor). Before pursuing a doctorate, candidates must have already earned a bachelor's degree and in some cases a master’s depending on the program. Due to the nature of specialization, PhD programs tend to be smaller than master’s programs.

PhD candidates begin by taking courses and exams. They go on to take advanced seminars and complete their requirements by researching, writing, and defending a dissertation. A dissertation is one of the central components of earning the PhD and is a doctoral-level thesis about the candidate’s original research. A doctorate degree may take up to eight years to earn depending on the program, whether the candidate has already completed a master’s degree (or is coming straight from undergraduate), and the amount of time it takes to complete the dissertation.

Dual Degree Programs or Joint Master’s and PhD Programs

If you decide both degree programs sound right for you, there are some programs that offer the option to pursue both degrees at the same time. A dual degree program allows you to double count your earned credits towards the completion of both degrees. You can find more information here .

How to decide which degree is right for you?

Figuring out whether to pursue a master's or PhD will depend on your career field and educational goals. You can learn more about requirements in your field by doing some research or your own as well as networking with colleagues. Reaching out to a mentor in the field or alumni from your preferred program can also help you navigate graduate school decisions. Additionally, speaking with admissions staff at graduate schools can help provide insight into the kinds of graduate programming available. 

It can be tricky to offer general guidance on graduate programs since so much is dependent on the field of study. That said, we wanted to offer examples of how master’s and doctorate degrees can set you up for success. We've selected social work and business as fields to illustrate this:

Social Work

If you want to go to graduate school to study social work, you can study at the master’s level or the PhD level. To determine what is best for you, consider what role you’d like to play in the field of social work. If you’d like to be a social welfare direct service provider or government agency administrator, a master’s program may be most appropriate. If you’d like to become a faculty member at a post-secondary institution, a social welfare research scholar, or a social welfare policy analyst, a Ph.D. program will be a better fit. Outside of academic settings—where a doctorate is required for most faculty positions—a master’s combined with practical work experience may provide ample preparation for a career as a researcher, policy analyst, or mid-level manager.

For business administration, you have the option of a Master’s of Business Administration (MBA), or a Doctorate of Business Administration (DBA). If your long term goal is to take on a leadership role in a nonprofit or business enterprise, the MBA (or nonprofit management degree) may be best. If instead, you’re interested in a career in academia teaching and researching on business practices, the DBA will be the better option.

Knowing your professional goals will help guide your choices for graduate study. Certain career paths, such as becoming a public defender or a medical doctor, are more clearly marked with the necessary steps, including the required educational level and graduate degree. Other career paths are less regimented and therefore require more investigation and consideration of what is right for you. Thoroughly researching your field of interest and having a strong understanding of the skills and knowledge you want and need from your graduate education will inform which degree options make the most sense for your goals.

Planning on returning to school? Check out our Grad School Resources and connect directly with social-impact programs through Idealist. And if you’re interested in speaking with an admissions representative, find out which cities near you are hosting an Idealist Grad School Fair this fall.

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Master’s vs PhD/Doctorate Degrees – Key Differences

So, you are done with your bachelor’s degree but not with studying–according to the U.S. Bureau of Labor Statistics , this seems like a good idea. In its projections for the years 2019–2029, it lists 36 occupations that typically require a master’s degree and 63 requiring a doctoral or professional degree. The Bureau of Labor Statistics data also shows that the wages for these occupations are higher than the median for all occupations. 

Now you might wonder: What is the difference between master’s and PhD degrees and which one should I get? Read on for all the information you need to make this important decision!

Difference Between Masters and PhD: An Overview

A master’s degree is designed to teach you the knowledge and skills that you will need in your future profession. A PhD or doctorate degree, on the other hand, is designed to develop your critical thinking as well as your analytical and writing skills and is usually a years-long commitment to independent research on a specific subject. The purpose of a PhD is to prepare you for a career in academic research—although it can also help you get into a variety of other professions, and at a higher entry/salary level. In the US, a master’s degree is integrated into a PhD program, as a necessary preparation period involving mostly coursework, while in most other countries, a separate master’s degree is required to enter a PhD program.

If you want to stand out, you should definitely opt for a PhD degree: According to the United States Census Bureau , 24 million people in the US had master’s or professional degrees in 2019, whereas only 4.5 million had PhDs/doctorates. But is it worth the extra effort? And what exactly would the extra effort be? Have a look at the table below to get an idea about the key differences between master’s and PhDs.

Master’s vs PhD

Master’s or doctorate: which should you choose, how long does a master’s vs doctorate take to complete.

While the length of time it will take you to complete a PhD or master’s degree varies significantly between institutions and countries, we will focus on the US system here. Obviously, PhDs take much longer, because they are in fact a combination of both degrees and involve a long period of independent research that can get even longer than expected, depending on your topic, the available equipment or support, and a lot of other factors.

How long to complete a master’s degree

In the US, a full-time master’s degree takes students generally 2 years to complete, while part-time degrees are usually double the time.

How long to complete a PhD/doctorate

Since US PhD programs only require a completed bachelor’s degree, they start with an integrated master’s of 2 years of coursework, followed by 3–4 years of independent research into a specific topic. That usually includes publishing results, presenting at conferences, and preparing the final dissertation. Note that stipends/funding do not always cover the entire time it can take you to complete your PhD project—make sure you are aware of alternative options and additional funding at your institution or have at least thought about a backup plan before you start.

Master’s Degree Cost vs. a PhD Cost

Most people assume that PhDs are more expensive because they take many more years to complete. However, since PhD students usually receive scholarships or stipends, sometimes just for their commitment to full-time research and sometimes in exchange for teaching, the direct costs for a dissertation can be lower than those for a master’s degree. 

Additionally, while you are very likely to earn more with both degrees, the additional years of studying for a PhD should be factored into any estimation of costs vs outcomes.

Cost of a master’s degree

Master’s degrees at US universities can cost anything from $30,000 to $120,000, with tuition depending on the type of institution (public, private nonprofit, or for-profit). University rankings and general reputation also affect tuition costs. 

Whether an expensive degree (e.g., MBAs are often notoriously expensive) is worth the money for you personally depends on what kind of salary you think you can expect after graduating from that specific school. The universities you consider applying to should be able to provide you with data on the career and salary outcomes of their students, either on their website or if you contact them and ask for these details.

You can of course try to get a stipend and/or apply for a teaching or research assistant position at your school, depending on your undergraduate degree and experience. Moreover, many institutions offer the possibility to complete a master’s degree part-time, while working, which allows students to fund themselves.

You might also be eligible to transfer credits toward your degree if you have a professional certification or have earned graduate-level course credit—which can significantly reduce your total cost for both degrees.

Cost of a PhD/dissertation

PhDs, unlike master’s degrees, are usually funded, which means that tuition fees are waived and stipends or scholarships take care of living costs. Phd students are, however, often expected to take on teaching or research responsibilities in exchange for their funding. 

There are a variety of scholarships you can apply for if you want to pursue a PhD in the US as an international student—US-based ones like the Fulbright Foreign Student Program or the HHMI International Student Research Scholarships , but there are probably also funding opportunities in your home country for students who want to embark on a PhD abroad.

Pursuing a PhD degree part-time might sometimes be possible, but since students are expected to invest a full workweek into their research and potential teaching responsibilities, this is usually not realistic.

To estimate the overall cost of a doctoral program, the extra years that you could be working a full-time job with a regular salary also need to be factored into the equation—and take into account that projects may end up taking longer than expected, due to difficulties in collecting data, supervisors dropping out or moving on, or unforeseeable crises such as the COVID-19 epidemic.

Career Prospects for a Master’s vs PhD

While both a master’s and a PhD degree will qualify you for a variety of occupations that require higher degrees, they can also get you a higher salary in a profession that is also open to employees with a lower education level. PhD holders can in theory expect the highest wages, but since the two degrees prepare you for very different careers, that alone shouldn’t be what you base your decision on.

Master’s degree jobs and positions

Master’s degrees are overall more versatile than PhDs when it comes to employment opportunities and cover a wide range of fields and professions. The most common master’s degrees are the Master’s of Arts (MA) and the Master’s of Science (MS). 

Master’s programs can generally be divided into three different types:

Research master’s degrees, such as an MA in Comparative Literature or an MS in Biology, prepare students for academic and non-academic research disciplines and usually end with a thesis based on an original piece of research. In some fields, however, you are expected to enter a Ph.D. program after completing your master’s to be competitive when it comes to finding a job later.

Professional master’s degrees teach you practical skills and in-demand competencies that qualify you for a specific field and enable you to understand issues that are relevant in a certain profession. Examples include the Master of Public Health (MPH), the  Master of Business Administration (MBA), or the MA in Teaching (MAT). 

Terminal master’s degrees are the highest academic degree in fields where doctorates are not offered, and prepare students for careers outside of academia. The Master’s of Fine Arts in Creative Writing, for example, or the MS in Library Science are as high as you can go in those fields.

To give you an idea, below, we listed the 10 occupations at the master’s level that are projected to have the most openings annually from 2019 to 2029, according to the U.S. Bureau of Labor Statistics, and the highest-paying occupations for master’s degree holders without required work experience, based on projections from 2016 to 2026.

Master’s degrees, apart from helping you develop professional skills tailored to the requirements of the profession you intend to enter, can also serve as a stepping stone if you are already in employment and want to progress your career development, earn a higher salary, or change careers by learning new skills and subject knowledge.

PhD/doctorate jobs and positions

PhDs are usually intended to lead to an academic career, and many students aim to eventually become university professors. However, careers in academia are highly competitive, and there are not nearly as many professor positions as there are PhD holders. The good news is that the skills you learn during your doctoral program are often “transferable” and can be applied to other types of careers. 

Some PhD graduates end up (and enjoy) being colleague teachers, while others embark on non-academic research careers, for example at pharmaceutical companies, government agencies, consulting and technology firms, or think tanks. Job prospects vary widely across fields, with some—computer science, engineering, or economics—having very low unemployment rates, and others, for example the humanities, offering fewer and less desirable employment opportunities. Keep in mind, however, that someone with a PhD entering a different field or one that does not necessarily require a PhD may find that their degree sometimes does not help them or that they are even considered to be “overqualified” or as lacking practical skills and relevant professional experience.

Since there is no clear career path for PhD graduates, you should really take your time figuring out what field you want to work in later, what the career prospects for that field are, and if they are worth the time and effort you will have to invest to complete a PhD program. Your university should have data on the careers and salaries of their students, and should either display these details on their website or send you the relevant information if you contact them directly.

Master’s vs PhD: Application Process

The application process for master’s and PhD programs is overall very similar. In general, you will need to provide the following:

Frequently Asked Questions about Master’s vs PhD Degrees

How long does a master’s degree take vs a phd.

Full-time master’s degrees usually take 2 years to complete. Many universities offer the option to do a master’s part-time, which takes double the time. PhD programs in the US  start with an integrated master’s of 2 years of coursework (since you enter the program directly after completing your bachelor’s degree), followed by 3–4 years of independent research. 

Is a PhD harder than a master’s degree?

A PhD takes substantially longer and requires more self-motivation, organizational skills, and the willingness to carry on even when things do not go according to plan. You might also have other responsibilities, on top of your research, such as teaching or assisting your supervisor. But whether that is “harder” for you than a master’s degree that consists of mostly coursework and does not take more than 2 years depends on your interests and general working style. 

Is a master’s or doctorate better?

Master’s and doctorate degrees prepare you for different occupations and work positions, and which one is the right for you depends on what kind of career you are planning to pursue. Generally, a master’s degree is right for you if you want to deepen your career-oriented knowledge and skills for a specific profession, while a doctorate degree prepares you for a career in research, whether that is inside or outside a university.

Preparing Your Graduate School Essays

Now that you have figured out whether a master’s or PhD degree is the right choice for you, all that is left to do is to put your application together! Make sure that you focus on your chosen degree and its aim (research or a professional career) in all required documents—for example, highlight your professional and personal development in your CV for an MBA program, but the publication you got out of your bachelor’s thesis and how passionate you are about doing more research on the same topic for your application to a PhD program. 

As always, Wordvice can help with our professional Personal Statement Editing Services or Admission Editing Services , which help ensure that your application is error-free and showcases your full potential so that you get admitted to the graduate or doctoral program of your choice. For more academic resources on writing the statement of purpose for grad school or on how to request a letter of recommendation , head over to our Admissions Resources pages.

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What Comes After a Master's Degree?

Know Your Graduate School Options Beyond a Master's

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After receiving your master's degree, there are still more options to study in graduate school, including an additional master's degree, doctorate programs (Ph.D., Ed.D., and others) and certificate programs to consider. These degree and certificate programs all vary in level, time to complete, and more.

Additional Master's Degrees

If you have already earned a master's degree and wish to continue your studies, you might consider a second master's degree. Since master's degrees tend to be specialized degrees, as you grow within your career you may find that a new specialty is required or that two specialties will make you an even more desirable candidate when job hunting. In education, for example, many teachers earn a Master's of Arts in Teaching degree but may return to the classroom to study for a degree in the field in which they are teaching, such as English or mathematics. They may also wish to pursue a degree in organizational leadership, especially if they are looking to grow into an administrative role in the school.

Master's degrees generally take two, sometimes three, years to complete (after earning a bachelor's degree), but pursuing a second degree in a similar discipline might allow you to carry over some credits and complete the program sooner. There are also some accelerated master's programs that can earn you a degree in less than a year; just be prepared for a lot of hard work. All master's programs entail coursework and exams , and, depending on the field, possibly an internship or other applied experience (for example, in some fields of psychology ). Whether a thesis is required to obtain a master's degree depends on the program. Some programs require a written thesis; others offer an option between a thesis and a comprehensive exam . Some programs provide capstone courses, which are usually semester-long courses that provide a comprehensive overview of everything learned within the program and ask students to complete several small thesis statements to demonstrate mastery.

A meaningful way in which master's programs differ from many, but not all, doctoral programs is in the level of financial aid available to students. Most programs do not offer as much assistance to master's students as they do for doctoral students, and so students often pay most if not all of their tuition. Many top institutions even offer full scholarships for doctoral students, but a doctoral program is usually a much more comprehensive and time-consuming educational program, requiring a full-time commitment, versus the possibility of working your full-time job while going for a master's degree.

The value of the master's degree varies by field. In some areas such as business, a master's is the unstated norm and necessary for advancement. Other fields do not require advanced degrees for career advancement. In some cases, a master's degree may hold advantages over a doctoral degree. For example, a master's degree in social work (MSW) may be more cost-effective than a doctoral degree, given the time and funds required to earn the degree and the pay differential. The admission offices at the schools you're applying to can often help you determine which program is best for you.

Ph.D. and Other Doctoral Degrees

A doctoral degree is a more advanced degree and takes more time (often a great deal more time). Depending on the program, a Ph.D. could take four to eight years to complete. Typically, a Ph.D. in North American programs entails two to three years of coursework and a dissertation — an independent research project designed to uncover new knowledge in your field that must be of publishable quality. A dissertation can take a year or more to complete, with most averaging about 18 months. Some fields, like applied psychology, may also require an internship of one year or more.

Most doctorate programs offer various forms of financial aid , from assistantships to scholarships to loans. The availability and types of support vary by discipline (e.g., those in which faculty conduct research sponsored by large grants are more likely to hire students in exchange for tuition) and by the institution. Students in some doctoral programs also earn master's degrees along the way.

Certificate Programs

Certificates can usually be earned in less than a year and are often significantly less expensive than going after additional degrees. If you're wondering what should come after your master's degree and you're not sure if a doctoral program is right for you, this could be the way to go. Certificates range in scope greatly and can allow you to hyperfocus on the areas in which you wish to excel. Some schools even offer certificate programs that are of a masters degree caliber, so you can walk away better prepared for your career and without breaking the bank. Employers who offer tuition assistance may look favorably on a less expensive certificate program as well.

Which Is the Best?

There is no easy answer. It depends on your interests, field, motivation, and career goals. Read more about your field and consult faculty advisers to learn more about which option best fits your career goals. Some final considerations are as follows:

• What types of jobs do a master's degree, doctoral degree, and certificate holders have? Do they differ? How?
• How much will each degree cost? How much will you earn after obtaining each degree? Is the outcome worth the cost? What can you afford?
• How much time do you have to invest in additional schooling?
• Are you interested enough to pursue many years of schooling?
• Will earning a doctoral degree offer a substantial benefit in your employment and advancement opportunities?

Only you know which is the right degree for you. Take your time and ask questions, then carefully weigh what you learn about each, its opportunities, as well as your own needs, interests, and competencies. What comes after a master's degree is up to you.

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If you’re nearing the end of college or you’ve completed college, you’ve probably heard the term “graduate school” thrown around by your peers and teachers. In fact, you’ve probably heard all kinds of graduate-school related terms, like “graduate degree,” “Masters,” “PhD,” and more.

But what is a graduate degree? What is a PhD? What is a doctoral degree? What’s a doctorate? We’ll demystify it all here. (Hint: those last three are all the same thing.)

In this article, we’ll discuss what graduate school is, what graduate degrees you can get, and the difference between graduate and professional school. Then we’ll move on to discussing the benefits and drawbacks of graduate school, funding graduate programs, and how to apply to grad school.

What Is Graduate School?

What is grad school? Well, it’s not so much a specific “school” as a catchall term for some types of academic programs.  Graduate degree programs offer advanced training (beyond a bachelor’s degree) in a specific academic discipline. They very much focus on advancing your subject-specific academic knowledge as opposed to preparing you for a specific career or job. Graduate degree programs often include opportunities to complete original research in the field.

There are a few different types of graduate degrees. We’ll review them in the next section.

What Is a Graduate Degree? The 3 Main Types

There are, generally speaking, three kinds of graduate degrees offered by graduate schools: the Master of Arts, the Master of Science, and the Doctor of Philosophy (PhD). The MA and MS offer additional schooling in a discipline beyond a bachelor’s degree. A PhD is the most advanced degree in a given academic field. (Note that this is not true of professional fields—we will discuss the difference in the next section.)

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Master of Arts (MA)

What is a Master’s Degree? The Master of Arts is the typical Master’s graduate program for humanities and social science disciplines. They can be fairly general—for example, an MA in Communication or Anthropology, or even Humanities. They can also be highly specialized, like an MA in Folklore or an MA in History of the Book (a real degree!).

Some MA degrees lead specifically to a PhD, while others stand on their own. There are graduate programs designed for those with no prior academic exposure to a field, while others provide further training to those who studied the discipline (or a closely related one) as undergraduates. Some offer original research opportunities, while others focus more on instruction.

Depending on the specific discipline and program, an MA degree generally lasts 1-2 years for a full-time student. Select fields or disciplines may offer a 3-year Master of Arts.

Master of Science (MS)

The Master of Science is the typical Master’s graduate program for scientific and quantitative disciplines. Like the MA, the MS can be fairly general in its focus, like an MS in Biology or Computer Science. They can also be incredibly specialized, like an MS in Predictive Analytics or Agricultural Economics.

Also like the MA, some are designed for those with bachelor’s degrees in the discipline. Others are designed for those trying to get exposure to a new field. Some more closely focus on the student completing original research, while others focus more on delivering in-depth instruction.

An MS degree also generally lasts 1-2 years for a full-time student. In some select fields/programs, it may take 3 years.

Doctor of Philosophy (PhD)

What is a PhD? PhD stands for Doctor of Philosophy. The PhD is the most advanced degree in a given academic discipline. It’s also known as a doctorate or a doctoral degree.

As the most advanced degree in an academic field, it’s considered a terminal degree. The Doctor of Philosophy prepares students to do academic work in their discipline —research and teaching—and for positions at universities and research institutions.

PhD programs generally expect students to have some preexisting academic training in the discipline or a related field, usually from the student’s undergraduate degree. Most PhDs will not expect incoming students to have Master’s degrees, although some might. However, students with an MA or MS in the discipline might be able to complete the PhD more quickly because they may not need to complete as much coursework.

Furthermore, most PhD programs do expect applicants to have some form of previous research experience and preferably some academic publishing credits. They may not require the student to have the experience and publishing credits in the same discipline as the PhD, but almost all PhD programs will expect some amount of previous research and academic publication experience.

The structure of a PhD typically involves some amount of preliminary coursework, followed by a written and oral exam in the discipline. Then students will begin research and work on their PhD dissertation, an original research project. Throughout this time, students generally teach and/or work as research assistants to make money.

How many years is a doctorate degree? A PhD can take anywhere from three years (if you have a master’s degree and write extremely fast!) to eight years (if you have a lot of coursework to complete and a particularly obscure dissertation topic). But the time it usually takes to complete a PhD is in the 4-6 year range.

Graduate vs. Professional School

You may notice a huge number of degrees you could pursue after your undergraduate degree missing from the list of degrees above—like the MD, the MBA, the MPH, the MFA, the JD, the MEd, and many others.

This is because those degrees are professional degrees.

So what’s the difference between a graduate degree and a professional degree? A graduate degree provides advanced training in an academic discipline. A professional degree provides advanced training for a specific profession. For example, a JD trains you to become a lawyer. An MD trains you to become a doctor. So while a graduate degree focuses on an academic discipline or area of inquiry, a professional degree focuses on professional training.

We should be clear that these are not hard-and-fast distinctions. The line between what is a graduate program and what is a professional program is not always crystal-clear. Many institutions will refer to some (or all) of their advanced degrees as graduate degrees, without distinguishing between graduate and professional schools.

Additionally, professional degrees can lead to academia, and graduate degrees can lead to professional careers. For example, an MFA can prepare students both for academic teaching and inquiry and for professional careers as artists. While an MPH trains you to work as a public health professional, many MPHs go on to work for research institutions or receive PhDs and go into academia. Many professional schools offer MS or MA degrees (for example, a business school may offer an MS in Business Informatics). Additionally, some graduate schools offer MA or MS degrees that primarily focus on building professional skills and contacts.

Gray areas aside, the general distinction is that professional degrees focus on building career and professional skills, while graduate degrees focus on building your knowledge in a particular discipline and your skill in academic inquiry.

5 Top Benefits of Graduate School

Now that we’ve answered the question, “what is graduate school,” you may find yourself wondering: Is grad school worth it? Should I go to graduate school?

Here are five potential benefits to graduate school:

Preparation to Work in Academia

A major reason to go to graduate school—particularly to earn a PhD—is to position yourself to work in academia. If you want to be a professor at a university, you will need a PhD. For lecturer or researcher positions at small or community colleges, an MA or MS may be sufficient.

But in general, if you want to teach at a college level and work on research in a given discipline, a graduate degree of some kind is pretty much necessary.

Higher Earning Potential and Expanded Job Prospects (Sometimes)

A graduate degree will often increase your earning potential. More relevant training typically means more pay in that field. You’ll also be eligible for more jobs, like more senior research positions.

However, you shouldn’t assume that a graduate degree will always expand your job prospects and increase your pay. An MA in Middle English may not really lead to much of anything except increased debt, simply because there’s just not a high demand for people with MAs in Middle English. So, that training isn’t likely to be considered valuable enough for you to earn more or be a more attractive job applicant.

Be sure to do some research into the discipline you are interested in so that you have a realistic idea of how it will expand your job prospects and pay, if at all.

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Pivoting Your Skills

Say your undergraduate degree was in English Literature, but now you want to be a sociologist. Getting a master’s degree is a great way to get training in a new discipline you haven’t had much exposure to. Armed with your shiny new master’s degree and associated skills, you’ll be able to work in a field that was previously closed to you.

Get Published

If you need to develop research skills and publish some academic papers, getting an MA or MS can be a good move. This is particularly true if you want to pursue a PhD and need to beef up   your research experience and publication credits. Getting a master’s in a discipline related to your prospective PhD can be a huge help here. It will also help you build contacts to serve as recommendations.

Strengthen an Application to Professional School

In a similar vein, you may want to get an MA or MS to strengthen an application to professional school. Any research and publication credits you amass there, as well as a strong GPA or good recommendations, will help you stand out.

For example, maybe your heart is set on being a doctor but your undergraduate grades aren’t quite at the level you’d like, or you simply want to stand out more. Really excelling in an MS program can boost your application.

2 Potential Drawbacks to Graduate School

We’ve listed the benefits—but don’t put in your application yet. There are also some potential drawbacks to graduate school to consider. We’ll list two of the most major drawbacks here.

Considerable Expenses

Graduate degrees are expensive! Tuition and fees can easily run past $20,000 a semester at a private university, not to mention living expenses. You may have to take out pretty massive loans to cover all of this, so it’s important that you carefully consider how graduate school will increase your earning potential or job prospects. In more esoteric fields, the expense may not ever pay off in realized earnings. This shouldn’t necessarily dissuade you from pursuing a graduate degree but it is something to be aware of.

However, some programs will cover all or most of your tuition. You’ll also most likely be able to work part-time while completing graduate work, which will help offset expenses. For most PhD candidates, and some masters students, part-time work as teaching staff or research assistants is built into the program.

If you’re completing a part-time master’s degree, you can also maintain a full-time job while you complete the coursework.

Finally, keep in mind that the expense of tuition isn’t the only cost—while you’re in graduate school, you could be making a full salary employed in the workforce. In some cases, your PhD might lead to a higher salary, but it’ll take multiple years for you to recover the full salaries that you lost out on while you were in school.

Poor Job Prospects

There are some graduate disciplines that simply don’t lead to many job opportunities. For example, there are far more philosophy PhD graduates than tenure-track positions in university philosophy departments. In fact, academia in general is hyper-competitive, so unless you are attending a top program, getting an academic job at the end may be almost ludicrously difficult.

Especially if you are paying for the graduate degree yourself, if there isn’t much in the way of job offers at the end, the degree may be a poor investment. This is something to research before committing to the course.

Funding: How to Pay for Graduate School

Finding graduate school funding can be difficult. There are, in general, a lot more people who want to go to school than there is money available to fund them. Funding in the forms of grants, fellowships, and scholarships for master’s programs in particular tends to be incredibly competitive. There are few fellowships and scholarships available at this level, though there is more funding available for students in high-demand STEM fields like engineering and computer science.

On the flip side, it’s more likely that you’ll receive partial or full funding for PhD work. But PhD programs are far, far more competitive for admission than master’s programs.

Sometimes you can be admitted to a PhD program without any funding. (This is called a self-funded PhD.) This is not likely to pay off in the long run unless you have some fairly sizable independent income or savings, as you will almost certainly rack up debt in the hundreds of thousands of dollars. The return-on-investment in this case may not be very high, especially given how competitive it is to get a tenure-track position.

Funding for a given program is likely to be some combination of loans, grants and fellowships, and research or teaching positions. Even if you are a fully funded PhD student, you won’t receive a whole lot of money—generally just enough to cover expenses.

In general, people don’t go to graduate school to make the big bucks, but because they have a very intense passion for the discipline.

Applying to Graduate School: How to Get Into Grad School

If you’ve decided to apply to graduate school, what do you need to be a successful candidate? This will of course vary from program to program, but you’ll need a few general qualifications.

Good GRE Score

You’ll need a GRE score that’s reasonably competitive for the programs you’re interested in. (See more on what’s a good GRE score here ). This will usually involve a high score in the more relevant section of the GRE. So for a math or science graduate degree, you’ll need a high Quant score. For a humanities or social sciences degree, you’ll need a high Verbal score.

Relevant Experience and/or Publication Credits

You’ll need to have the requisite relevant experience for admission. For master’s programs, this can take the shape of some kind of work experience, undergraduate experience, research experience, and/or publication credits. However, for PhD programs, you’ll almost certainly need research experience and academic publication credits to be a competitive applicant. The experience and publications won’t necessarily have to be directly within the discipline you are applying in, but you will need them to show that you have academic chops.

Strong Undergraduate Record

A strong undergraduate record makes for a stronger application. Barring that, solid work or research experience and/or strong grades in another master’s or professional degree can also help you get admitted to the program(s) of your choice.

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Good Recommendations

Highly positive recommendations, especially from notable people within the field, can provide a real boost to your application. You want recommenders who can speak to your interest in the field as well as your suitability for academic work. If you’re an undergraduate at the time of application, professors you’ve worked with are the best option. If you’re a recent graduate, a combination of professional and academic recommendations will probably best capture your skills. And if you have been out of school for some time, your recommendations may be primarily professional, which is fine.

Clear Articulation of Your Interests and Goals

It’s also important that your application clearly communicates why you’re interested in further training in the discipline and what you plan to do with that training. If you can articulate a real passion for the field and clear goals, and you can connect those things to elements of the specific program you are applying to, your application will be much stronger.

Summary: What Is Graduate School?

“Graduate school” is a catchall term for academic programs that provide training in a specific academic discipline or field beyond the undergraduate level.

There are three primary kinds of graduate degrees:

• Master of arts degrees typically provide further training in the humanities and social sciences.
• Master of science degrees usually provide further training in the sciences and quantitative fields.
• PhDs, or doctorates in philosophy, provide the most advanced training available in a given academic discipline. PhDs prepare you to work in academia.

Graduate school is different from professional school. Professional school describes academic programs beyond an undergraduate degree that train you to work in a specific professional field. For example, lawyers get JDs, and doctors get MDs. There are some gray areas between graduate and professional school, but the general distinction is that graduate school furthers your knowledge of an academic field and professional school trains you for a specific career or class of careers.

Here are some of the main benefits of graduate school:

• Graduate degrees are necessary for work in academia.
• Some fields may give you higher earning potential and expanded job prospects.
• You can gain skills in a new area or discipline than your undergraduate degree.
• Graduate school can help you get research experience and publication credits.
• A graduate degree can help you strengthen your application to professional school.

Here are some of the main drawbacks to graduate school:

• Graduate school is expensive!
• Some graduate degrees won’t give you expanded job prospects or a better salary, making them a poor investment.

It can be difficult to get funding for graduate school. You are more likely to get funding for a PhD than a master’s degree, but PhDs are also more competitive. Overall, most people don’t go to graduate school specifically because they are looking for a very lucrative career.

 If you want to go to graduate school, here’s how to make yourself a strong applicant:

• Get a good GRE score
• Have relevant experience and/or publication credits
• Have a strong undergraduate record
• Secure glowing recommendations
• Clearly articulate your interests and goals in the discipline

That’s our overview of graduate school, folks!

What’s Next?

What GRE score do you need for graduate school? Check out our expert analysis of average GRE scores by school and average GRE scores by major . Or maybe you don’t need to take the GRE to get into grad school at all!

If you are taking the GRE, you want to maximize your chances of success. So consider when to take the GRE  and how to make a GRE study plan .

Think you may need to retake the GRE ? Here’s a surefire way improve your GRE scores .

Ready to improve your GRE score by 7 points?

Author: Ellen McCammon

Ellen is a public health graduate student and education expert. She has extensive experience mentoring students of all ages to reach their goals and in-depth knowledge on a variety of health topics. View all posts by Ellen McCammon

Masters vs PhD: Difference and Comparison

The education system of any country consists of several levels of study. A student tries to pursue education in a particular course, and they follow various levels of degrees in their academic years.

Each degree level consists of a specific amount of time required to complete the respective degree of a particular course.

Each degree of education is completed after a certain number of studies. Each degree has a different level of difficulty. Two of those degrees are 1. Masters degree, and 2. PhD degree.

Key Takeaways A Master’s degree focuses on acquiring advanced knowledge in a specific field, while a PhD emphasizes original research and the creation of new knowledge. Masters programs take 1-2 years to complete, whereas PhD programs can take 4-6 years or more. A Master’s degree is a prerequisite for pursuing a PhD, but the latter leads to more specialized career opportunities and the potential for higher-paying positions.

Masters vs PhD

Master’s degrees are graduate-level academic degrees awarded by universities or colleges, requiring coursework, research projects, and a thesis or exam. PhD degrees are the highest level of academic degree awarded by universities or colleges, requiring several years of coursework, research, and dissertation completion.

A master’s degree is a degree that a college or institution offers after a student completes their bachelor’s degree. Whenever students opt for a particular course, they get to study it at different levels and difficulty levels.

During a master’s degree, they get to study their respective courses even more profound, and the complexity of the system is more than it was during the bachelor’s degree.

A PhD degree is a course’s most challenging level of degree. During a PhD degree, one gets to study their course even more profoundly, and one can also research a topic that interests them that is relevant to their practice.

In many countries, a PhD degree is considered the highest level of degree that one can achieve in their academic course.

Comparison Table

What is masters’s degree.

A master’s degree is a degree that is offered after a student completes their bachelor’s degree and before their PhD or doctorate.

An individual pursuing a master’s degree gets to study their subjects from their particular course in detail and even in a more profound manner.

A master’s degree consists of both theoretical as well as applied subjects. One must understand the theory of a particular topic and perform practical regarding the idea .

The evaluation done during a master’s degree is more detailed, and the analysis that is supposed to be done of a specific subject is more than the analysis that is done during a bachelor’s degree.

Whenever an individual completes their master’s degree, he is titled as the master of the course they are studying or have learned.

Various degrees that consist of both research and theory are science and arts. Different kind of material is taught in both of these courses.

Different countries have different course structures for their master’s programs. In countries like the United States of In America and Canada, the duration of a master’s degree is two years.

In countries like India , the duration of a master’s degree is three years. In the United Kingdom, there are part-time master’s degrees and full-time master’s degrees.

A full-time master’s degree takes one to two years. On the other hand, a part-time master’s degree takes two to four years to complete.

What is a PhD?

“The PhD degree is one of the highest degrees of education an individual can study in their respective course. It is the short form of the”Doctor of Philosophy”. “The PhD degree is one of the highest degrees of education that an individual can study in their respective course. It is the short form of the “Doctor of Philosophy”.

A person can work in a specific field after completing their PhD degree, and they can also select the specialization over time.

The amount of research and studies required while pursuing a PhD degree is much more than the amount of research and studies required while pursuing a bachelor’s degree and a master’s degree.

In many countries, it is considered the highest degree of education that one can pursue in their particular course. They also think that the person is eligible and capable of teaching the same subject in a college and university.

Some countries accept the coursework that students complete before their PhD degree. Some countries require a portfolio where students must mention their published papers.

During the PhD degree, a student must study and research their subject.

There are distance-learning PhD programs offered by many colleges for students who are not able to attend college physically.

Other than that, a PhD degree includes an oral exam where students must present themselves and their thesis to the panel of examiners.

However, many countries have a rule that a student must complete their bachelor’s degree and their master’s degree to opt for a PhD degree.

Main Differences Between Masters and PhD

• A master’s degree is completed before a PhD degree. On the other hand, the PhD degree is completed after the master’s degree.
• To pursue a master’s degree, one must complete their bachelor’s degree. On the other hand, to complete their PhD degree, one must complete their bachelor’s degree and master’s degree.
• A master’s degree holder gets comparatively fewer salary packages. On the other hand, the PhD degree holder gets more salary packages as they are experts of the subject and course that they have studied.
• A master’s degree takes less time for complete. On the other hand, a PhD degree takes more time to complete.
• A master’s degree has comparatively lesser studies. On the other hand, a PhD degree has comparatively more studies.
• Financing a master’s degree is comparatively less. On the other hand, financing a PhD degree is comparatively more.
• In most countries, it takes two to three years to complete a master’s degree. On the other hand, in most countries, it takes three to four years to complete a PhD degree.
• The value of a master’s degree is comparatively less. On the other hand, the value of a PhD degree is comparatively more.
• A master’s degree is closely related to career and ambitions. On the other hand, a PhD degree is closely related to the teaching profession .

• https://www.tandfonline.com/doi/abs/10.1080/02602938.2011.638738
• https://www.tandfonline.com/doi/abs/10.1080/01421590802366129

Last Updated : 13 July, 2023

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Emma Smith holds an MA degree in English from Irvine Valley College. She has been a Journalist since 2002, writing articles on the English language, Sports, and Law. Read more about me on her bio page .

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• Second Master’s or PhD? – A Comparison
• Types of Doctorates

A second Master’s degree is best suited for those who want to work in industry, but first either want to acquire additional knowledge in their current field or move to a new one. A PhD is best suited to those who want to gain advanced research skills and expertise in their current field and pursue a career in research or academia.

Introduction

It’s common for Master’s students to be plagued by the thought of what they will do next as they near the end of their current degree. Whether it’s taking a gap year, starting their career or continuing education, one thing is clear: there are many possibilities.

If you decide to stay in education, you’ll likely at some point consider whether it’s better to do a second Master’s or a PhD. You’d be right to give this serious thought, as the two degrees have significant differences, from their costs and durations, to the career paths they offer.

This page explains the differences between a second Master’s and a PhD, the pros and cons of each, and will help you to decide which of the two degrees is best for you.

Second Master’s vs PhD

Level of specialisation, master’s.

A Master’s degree, regardless of whether it’s an MSc, MRes or MPhil, aims to provide you with targeted knowledge that builds on what you would have learnt from your undergraduate degree. Although each type of Master’s degree has its own focus, such as an MSc on practical knowledge and an MPhil on research skills, the specialisation they offer isn’t as in-depth as that offered by a PhD. This is because they have a wider curriculum and usually utilise several teaching methods, including lectures and tutorials, which provide a range of knowledge around several closely related subjects.

PhDs are the highest form of academic qualification you can obtain and offer more specialised knowledge than any Master’s degree. Unlike Master’s degrees, which are based on a mixture of teaching methods and curriculum, PhDs are purely research degrees and focus on a specific research question.

A second Master’s degree will provide you with specialist knowledge in various subjects in your field. A doctoral degree will provide you with research skills and expert knowledge in a single topic within your field.

Programme Duration

Most Master’s courses take one year to complete, with an MPhil two years. However, the exact duration will depend on your specific course, type of Master’s and university.

A PhD lasts on average three to four years , with part-time studies lasting up to eight years.

Since a doctorate lasts several times longer than a Master’s, it requires a much greater commitment.

Programme Cost

The cost of a second Master’s degree will vary depending on its type, subject and host universities. Based on an analysis by FindAMaster’s , which summarises tuition fees from the International and Postgraduate Fees Survey 2019 , the average academic tuition fee per year for a Master’s degree in the UK is:

The average tuition fee per year for a PhD in the UK is £4,407 for home/EU students and £19,600 for international students .

There are other fees associated with doctoral research projects that aren’t present with Master’s studies. These include bench fees, travel costs for collaborations and conferences, and potential writing up fees for late thesis submissions.

Annually, a second Master’s degree is twice as expensive than a PhD for home/EU students, and slightly cheaper for international students. However, considering the typical duration of these programmes, a PhD becomes significantly more expensive; twice as expensive for home/EU students and four times as expensive for international students:

Notes: (1) The tuition fee values for the second Master’s is based on the average fees for an MSc. (2) The above table assumes a second Master’s duration of 1 year and a PhD duration of 4 years. (3) The fees and durations are indicative – the exact values vary depending on the course and university.

It’s also important to bear in mind that many PhD programmes come with funding which covers the cost of their fees. Many funding packages also include a living allowance (known as a stipend) which is comparable to a low salary. It is usually much more difficult to secure non-repayable funding for a Master’s programme unless it’s integrated with a PhD programme.

Employability

The skills and knowledge gained through a Master’s degree are general enough to apply to other relevant disciplines. For example, a Master’s degree in statistics would enable you to work in finance, medical analysis, and specific engineering fields etc. Due to this, a second Master’s could help make you suitable for an even wider range of professional fields.

Because a PhD focuses on advanced research methods and a specific research question as opposed to the broad field, your career path is usually refined to the more advanced positions which require expert knowledge. This doesn’t mean that you cannot apply your skills elsewhere, but most PhD holders remain in their field after completing their studies.

It’s worth noting, however, that there is a growing trend for PhD holders to use the transferable skills they acquired during their degree to successfully reposition themselves in careers outside of academia. In fact, STEM PhD holders are particularly sought after in the financial sector because of their proven ability to perform complex tasks under strict deadlines.

Both a second Master’s and a PhD offer excellent employment opportunities. However, a second Master’s usually offers greater career flexibility across industries, especially at the beginning of a career. A doctorate opens up the more demanding positions within a field, but can sometimes make it more difficult to change industries.

Finding a PhD has never been this easy – search for a PhD by keyword, location or academic area of interest.

Advantages and Disadvantages of a Second Master’s

Improving skills:  A second Master’s can strengthen your skills within your current field. For example, suppose you have an MEng in Biomedical Engineering. Here, you know of the technical aspects and their application, but you do not necessarily know how to innovate and develop them further. You could fill this skills gap with an MRes or an MPhil that would provide you with complimentary research and investigatory skills. Improving your skills won’t only help you advance faster in your career faster but may also open up future roles that would not otherwise be available to you.

Career change:  After completing your first Master’s degree, you may decide that the field is no longer suitable for you. In these scenarios, a second Master’s degree can facilitate career changes. This will have obvious limitations, for example, you shouldn’t expect to be able to do a Master’s in Biomedical Engineering with a Master’s in Classical Literature, however, if you already have a Master’s in another type of engineering, this transition would be possible.

Bridge between different Industries: In STEM subjects, there is extensive interaction between different industries. Although this interaction has always existed, it has grown steadily as more industries try to innovate and tackle more ambitious projects. There’s an obvious need for multidisciplinary roles, and a second Master’s degree in a relevant subject can make you desirable for this reason.

Disadvantages

Perception: If you carry out a second Master’s in a field unrelated to your first, even if to facilitate a career change, it can lead to potential employers perceiving you as unfocused. Although this shouldn’t be the case for large multidisciplinary organisations, it may deter the more specialised companies.

Salary: While a second relevant Master’s in the same subject field may increase your earning potential, a second unrelated Master’s is unlikely to. Although an unrelated second Master’s isn’t a disadvantage if being used to facilitate a career change, it will probably be an unnecessary use of time and money if you intend to stay within your current career path.

Advantages and Disadvantages of a PhD

Establishing yourself as an Expert: Any individual who holds a doctorate is considered an expert in his or her field. Therefore, a PhD has not only a prestigious status but also opens up roles in advanced research and academia.

Commitment: A PhD shows your willingness, commitment and motivation to learn. This makes you highly desirable for employers, as a strong passion for continuous learning usually correlates with the potential to become industry leaders.

Less freedom:  Taking three to four years to complete, a PhD is a huge commitment. As a result, many feel pressured to stay in their field to ensure that their PhD was ‘worth’ it, even if they no longer feel that the field is the right one for them. Although it is still possible to change paths after your doctorate, and many do so successfully, many feel ‘locked’ into their path after they finish their studies.

Over-qualified: You may find it difficult to find a job outside of research or academia, as employers may consider you over-qualified and therefore believe that you will quickly leap from the role to a more challenging one. They may also believe you lack practical work experience compared to your counterpart, who has a Master’s degree and has been working in the industry whilst you were working on your academic studies.

Cost: While PhD programmes can come with funding that helps to finance tuition fees and living costs, the funding usually covers only the first 3.5 years of full-time programmes and the first seven years of part-time programmes. You may be determined to complete your doctorate within this timeframe, but it is not uncommon for students to experience setbacks in their research that take them beyond the period for which they’re funded for. This means they have to pay the rest of the fee themselves, which can be a significant burden for some, especially if they lack the savings to do so.

Deciding between a second Master’s and a PhD may seem like a tough decision, but ultimately it depends on what your career goals are. Therefore, the first thing to do is to ensure you’ve thought about your future and have a good idea of where you want to go after your education.

A second Master’s is best suited to those who want to either gain more specialised knowledge in their current industry or make a job change by transitioning into a new industry. A PhD is best suited for those who want to gain advanced research skills and knowledge in their field and pursue a career in research or academia.

Either way, both options offer great opportunities and will open new doors for you. Which of the two degrees is better for you depends on which door you would like to open.

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Comparing the differences between MD vs. PhD vs. professional doctorate

By Michael Feder

This article has been vetted by University of Phoenix's editorial advisory committee.  Read more about our editorial process.

Reviewed by Marc Booker, PhD, Vice Provost, Strategy

At a glance

• MD is the abbreviation for Doctor of Medicine and PhD stands for Doctor of Philosophy. These are two types of doctoral degrees in addition to professional doctorates. 
• An MD is a doctoral degree for medical professionals, while a PhD is an academic degree focused on original research. Somewhat similar to a PhD are professional doctorates, which focus on applying practical research to problems in workplaces or communities.   
• A professional or practice-based doctorate (EdD, DBA, etc.) can be medical, and others are for scholar-practitioners in disciplines like education, business or psychology.
• University of Phoenix does not offer MD or PhD programs, but students can earn a doctorate in business, nursing, education or healthcare that allows them to build upon their industry expertise. Learn more about the differences between these degree programs and if one of the  five doctoral programs  at University of Phoenix is right for you !

What is a doctorate? Breaking down the three types

Some people might confuse an  MD (Doctor of Medicine)  with a  PhD (Doctor of Philosophy) , and vice versa. While both an MD and a PhD are prestigious degrees near the top of the  academic ladder , they each have a different meaning and come with very  different requirements .

Different still from both of those degrees are professional doctorates, which allow industry professionals to translate their education and experience into credibility and leadership through research. Professional doctorates have similar requirements to PhDs, such as a dissertation and residency, but focus on the application of research and professional growth over original research.

Upon graduation, those who have earned any of these three degrees can call themselves a “doctor,” but the path to a degree, the purpose behind it and its applications vary based on the choice. MD graduates want to work in medicine and healthcare. PhDs want to bring new knowledge and research to the world. A practice-based doctoral graduate wants to grow in their professional expertise. (If the last one sounds like you, University of Phoenix can help!)

Keep reading to learn more about these doctoral programs and which is right for you.

What does MD stand for?

MD is an abbreviation for Doctor of Medicine and identifies a  medical practitioner  who has completed undergraduate studies and four years of medical school. An MD program teaches medical students about the human body and diseases through a combination of classroom instruction and hands-on clinical labs.

Several  types of physicians  might have this degree, depending on their area of study. For example, medical practitioners with an MD degree might become a medical doctor and potentially specialize in dermatology, cardiovascular disease, family medicine, oncology, pediatrics, neurology or preventive medicine. As you can see, this degree  can lead to a variety of career paths , depending on which specialty interests you and what your medical education is.

Learn more about online doctoral degrees at University of Phoenix. 

How to earn an MD

Becoming a Doctor of Medicine  requires a significant investment of time and money, but the reward can be well worth it. Before medical school, you’ll need to  take the Medical College Admission Test  (MCAT ® ) and earn a passing score. You’ll also need to build a portfolio of coursework and experience to help you gain admittance to medical school.

Medical school typically takes students four years to complete. You’ll learn the latest techniques and approaches for patient assessment, diagnosis and treatment. Medical schools commonly provide a combination of classroom,  research and clinical experience . You’ll work alongside peers and healthcare professionals as you develop skills in general medicine.

You’ll choose a field to specialize in during your final year of medical school. Students have more than 120 options to choose from when specializing, including  primary care,   pediatrics, geriatrics, emergency medicine and family medicine .

After graduating, you’ll complete residency training to further develop skills in your specialty. Residency typically lasts three to seven years, depending on the field you’ve selected. During the residency portion of your education, you’ll treat patients under the supervision of more experienced physicians.

Even after you begin to practice as an MD,  the educational portion of your career never stops . As practices change, patient needs evolve and research continues, MDs benefit from ongoing education to stay current.

What does PhD stand for?

A PhD, or  Doctor of Philosophy , is a doctoral degree that recognizes graduates who have completed a full postsecondary program. Students can earn a PhD in more fields than philosophy. After completing the necessary coursework, original research and hands-on experience, you can earn a PhD in fields like science, the humanities and engineering.

Earning a PhD can help unlock a wide range of potential career opportunities. Computer engineers, research scientists, statisticians, healthcare administrators, professors, chemists and other careers commonly require a PhD degree, in addition to appropriate undergraduate study.

How to earn a PhD

Becoming a PhD is also a  serious commitment  that requires an investment of  time, money and energy .

Here is what’s typically required to become a PhD:

• Complete a bachelor’s degree in your field
• Complete a master’s degree in an appropriate field
• Pass any program entrance exams
• Fulfill coursework, research and hands-on lab requirements in your program
• Finalize and defend your dissertation as a  doctoral candidate  (unless your program specifies otherwise)

It’s important to note that many PhD  programs have different requirements , prerequisites and parameters for students. Check with your preferred institution for a more detailed explanation of these requirements.

What is a professional doctorate?

While some professional or practice-based doctorate programs are medical,  others are designed for professionals in other fields . These programs are meant for  scholar-practitioners  in disciplines like education, business or psychology. One of the key differences between this degree and a PhD is the focus on applying research to a professional setting rather than conducting theoretical and research-focused studies. Often, programs are differentiated as academic versus professional.

Examples of doctoral degrees are Doctor of Education, Doctor of Nursing Practice and Doctor of Business Administration. Each of these programs focuses on a specific discipline and applying research in those areas to a professional setting.

How to earn a doctorate

While  practitioner doctoral programs  teach different skills, they all share common requirements. You’ll need to  complete a bachelor’s degree  in your field and sometimes a master’s degree, depending on program requirements.

After completing the necessary coursework and research, students also typically need to finish a supervised thesis and defend their dissertation or capstone project-specific coursework, research and hands-on labs alongside other students in the same field. However, this will depend on the specific program and its requirements.

What does the title “Dr.” really mean?

The term “doctor” or “Dr.” is commonly used today to describe a wide variety of occupations. Students who complete a doctoral degree can earn the title of “Dr.” even though they earned their credentials in a non-medical field like education or business management.

While a variety of professionals can earn a doctorate, the term is often still  reserved for medical practitioners . In conventional use,  doctors typically refer to medical physicians . However, it is appropriate to use “Dr.” if you graduated from any of the three programs discussed above.  

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What is doctoral candidacy?

Practitioner doctoral degree programs at university of phoenix.

While University of Phoenix (UOPX)  does not have  MD or PhD programs, it does offer several professional doctoral degrees that can be earned completely online. Students might choose the UOPX programs because classes are flexible and offered online, and because of the University’s unique “ Scholar-Practitioner-Leader model .”

If you are curious about a doctoral degree, the following programs are available at UOPX:

• Doctor of Business Administration  — This doctorate can help you gain strategic vision and skills to position yourself as a business leader. It explores how to solve organizational problems, how to design and conduct research studies, how to introduce innovative business ideas to the industry and more.
• Doctor of Management   — This doctorate equips you with critical thinking skills to find creative solutions to complex problems.
• Doctor of Education  — This doctoral program prepares you to use analytical, critical and innovative thinking to improve performance and solve complex problems in education.
• Doctor of Health Administration  — If you’re a health professional who is seeking greater responsibility in shaping the future of the health sector, this doctorate can help you meet the challenges inherent to today’s healthcare landscape, including economic fluctuations, burgeoning patient needs and industry-changing legislation.
• Doctor of Nursing Practice  — This doctorate is designed for working nurses who require a doctorate for advanced practice or nurses who desire their terminal degree. It does not prepare students for professional certification or state licensure as a nurse or as an advanced practice nurse.

These doctoral studies are only some of the many options for professionals who want to gain the  highest academic credentials  in their fields. Doctoral programs offer significant benefits to program graduates, including  newly developed skills , insight into field trends, hands-on research opportunities and  leadership capabilities .

Completing a doctoral program is also a strong indication to employers that you’re serious about your career and your field. With so many options for advanced study, these programs are available for most major fields. Even if you have already completed a bachelor’s or master’s degree in your discipline, a doctorate lends further credibility to your reputation and  can help prepare you for a leadership position .

ABOUT THE AUTHOR

Michael Feder is a content marketing specialist at University of Phoenix, where he researches and writes on a variety of topics, ranging from healthcare to IT. He is a graduate of the Johns Hopkins University Writing Seminars program and a New Jersey native!

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How to Decide if an MBA Is Worth it

Understand your financial and career goals before enrolling in an MBA program.

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A master's degree in business administration can be a great asset when looking for jobs but applicants should weigh the commitment of this opportunity.

Key Takeaways

• Earning an MBA is always a significant time investment.
• Consider career goals and costs before enrolling in an MBA program.
• An MBA may lead to salary, promotion or job market benefits.

An MBA is a game changer for many professionals – a way to build specialized skills, make salary gains and valuable professional connections, or even change careers.

But it's not the right fit for everyone. Before committing to graduate business school to pursue a master of business administration degree, it's important to consider the time commitment, costs, potential return on investment and your personal career goals, experts say.

"You don't do it because you don't have anything else to do," says Sue Oldham, associate dean of MBA operations at Vanderbilt University's Owen Graduate School of Management in Tennessee. "You are doing it because you really want this career pivot and you want to be doing something different."

What to Consider Before Applying to an MBA Program

Time commitment.

A full-time MBA program typically takes two years, although accelerated full-time programs can take a single year. Executive and part-time MBA programs, designed for professionals who are attending school while working a full-time job, vary in length depending on how many credits a student takes each semester. Online and hybrid programs are also options, but every pathway to an MBA is a significant time investment.

Students should consider whether it's the right "season of life" to commit to an MBA program, Oldham says.

"Are you at a place in your life where you can step out of the workforce for two years (for a full-time MBA) and invest in yourself like that?" she says. "I think that's why part-time MBA programs are a much better option for people that are like, 'Listen, I can't take two years off. I've got to work. I've got a family. I've got a mortgage.'"

Academic Needs

Before applying, build a list of schools that meet your educational requirements, such as location, class size and academic tracks that align with your career goals.

"Unless you are definitely bound and determined and headed toward one of the very few slots available at the Ivys , the world is at your disposal for what you need and want," says Jeanne Allen, founder and CEO of the Washington, D.C.-based Center for Education Reform, which focuses on expanding educational opportunities.

Allen says some non-Ivy League colleges and newer MBA programs may offer "a better service – they are better priced; they are accelerated in terms of graduating; they are personalized to your needs; they are often competency-based. And that's going to get you your best education."

Experts advise visiting prospective programs virtually or in person , especially while classes are in session.

"Spend some time getting to know the students, the alumni and the staff at the various schools, because I always think culture really matters and each school has its own unique culture," Oldham says. "You have to figure out what that school's culture is and say, 'Does this mesh with who I am, the way I learn and the way I want to work?'"

Return on Investment

According to the 2023 Corporate Recruiters Survey by the Graduate Management Admission Council, the organization that designs and administers the GMAT, MBA graduates had the highest median earning potential in the U.S. among business school graduates, with an estimated median starting salary of $125,000 in 2023. Hiring is expected to remain stable over the next five years.

To decide whether an MBA program offers good return on investment , consider tuition costs and potential starting salaries – which most schools track – and calculate the salary-to-debt ratio. The return on investment is calculated by dividing the average salary and signing bonus of recent grads by the average student debt of those who borrowed.

Per GMAC's 2023 Enrolled Students report – which surveyed more than 660 enrolled business graduate students or recent graduates in 36 countries – 90% of respondents rated the overall value of their graduate business degree as "good," "excellent" or "outstanding." In addition, median total compensation increased by one-third after graduate business training, with greater increases for full-time MBA students, according to the study.

The question is, "do you see the degree helping to advance your salary, your work experiences and your opportunities to make a difference, in the sense of being able to pay that (debt) down so that's not some overwhelming burden?" says Sean Schrader, an MBA student in his final year at the University of South Florida's Muma College of Business and president of the National Association of Graduate-Professional Students.

Postgraduation, he plans to study abroad before pursuing more graduate education in law school . Schrader's ultimate goal is to work in public and government service.

"A lot of people would say, 'Why would you want to get an MBA if you're more interested in government?'" he says. "That can be a fair point. But I think that the MBA gives you a lot of skills that are very relevant in almost any environment."

Benefits of an MBA

Skill and career development.

The best MBA programs help you develop entrepreneurial habits, Allen says. "They build your ability to move, develop and manage programs in more innovative ways. It's not so much about what skills (you gain), it's about what kind of learning is going to best set you up for an increasingly complex, technologically sophisticated society, where just about anybody can start a business, manage or create a product."

Andrew Walker, director of research analysis and communications at GMAC, says MBA candidates want to graduate with problem-solving, communication, data interpretation and leadership skills, among others.

"Employers say things like patience, data analytics and strategy are the most important skills that graduate management education alumni can have and bring to their organizations," he says. "And these skills are only going to grow in importance in the next five years or so. There is a lot of alignment with the type of skills that candidates are looking for out of business school and what employers are looking for, which to us (means) a lot of business schools really are on the right track with what they are teaching alumni to be successful."

With full-time programs in particular, students graduate "better prepared to work in a culturally diverse organization," Oldham says.

Even more valuable is that MBA programs also teach certain hard skills, says Daniel Snow, director of MBA programs at Brigham Young University's Marriott School of Business in Utah.

"I think that a lot of people out there think that an MBA program is about ticking boxes on a series of skills," he says. "And while our program and other top programs do give you those skills, the really important differentiator is when you come out of an MBA program with managerial judgment. You can look at a messy situation that hasn't been contemplated in your textbooks, find the core of the problem and then you can go after that problem leading an organization."

An MBA may bring salary, promotion or job market benefits. But "if you think you're going to get an MBA and it's automatically catapult you into a CEO job, that's a bad reason to get an MBA," Allen says. "It can't necessarily do that and doesn't. It all depends on who you are."

Success with an MBA "really is (about) what you put into it and whether or not it helps you advance things that you already can do, but you want to take it to another level completely," she says. "It doesn't teach you business. It builds a mindset and an understanding of business culture and exposure to what's happening in the world of business that you don't necessarily get just by reading on your own."

A New Professional Network

Experts say an MBA also helps students expand their professional networks and build new connections that may broaden their opportunities and advance their career goals .

Networks vary by school, and experts recommend considering that in your research. Some MBA programs have alumni living around the world, for instance, while others are more localized.

"It's not just quality, but where do you want to go live your career geographically?" Snow says. "The quality of the people that you are going to be around is related to the network. ... You don't want to just be some place where you are not going to be pushed. You want to be around people who are going to really push you, that are excellent, that are striving to do the same things that you are doing."

Searching for a business school? Get our  complete rankings  of Best Business Schools.

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College of Professional Studies

Commerce and economic development.

The Master of Science in Commerce and Economic Development, a STEM-designated program, integrates economics, leadership, technology, and public policy to prepare students for a career in the private or public sector.

Globalization has created a borderless economy with a host of new opportunities and challenges for those engaged in commerce and economic development. While global markets offer exciting growth prospects, navigating the world stage requires in-depth knowledge of the financial, regulatory, and economic environments and institutions that affect the global economy and international trade. 

To meet the need for both insight and skills development, Northeastern University’s College of Professional Studies—in collaboration with Northeastern University’s College of Social Sciences and Humanities—offers the Master of Science in Commerce and Economic Development, which integrates an applied economics study of information, institutions, and innovation designed to develop and hone analytical skills to support private and public decision-making.

More Details

Unique features.

• Online program designed for working, midcareer professionals
• Graduates are positioned for jobs in government, international organizations, nonprofit organizations, universities, or the private sector
• STEM-designated graduate degree
• Required capstone project
• Financial Economics concentration prepares students for the CFA Institute Level I exam

Program Objectives

• Translate economic theory and classroom materials into core competencies
• Apply quantitative skills in the areas of economics, economic theory, policy analysis, and research
• Learn to set prices and output levels
• Use conceptual and mathematical tools to examine fluctuations in employment, prices, and economic growth
• Develop skills in data collection, estimation, and results interpretation
• Apply theories of economic growth, technology, structural changes, industrialization, factor proportions and prices, trade, population, and income distribution
• Evaluate labor markets and the role of human capital
• Assess how art, culture, and entertainment impact economic development
• Analyze the impact of environmental resources on commerce and economic development

Career Outlook

Several major trends—policy convergence, e-commerce expansion, and continued international development—are driving the job growth in the fields of international trade and economic development, and career prospects are expected to remain strong. Jobs in economic analysis and international trade are typically well-paying, with individuals holding advanced degrees expected to enjoy the best opportunities.

Unique Transfer Opportunity

About the CFA, CFP, FRM and PRM Certification Transfer Credit Opportunities: Why consider a Master of Science in Commerce and Economic Development from Northeastern University? We recognize the knowledge and financial competencies demonstrated by those who have earned their CFA, CFP, FRM and PRM certifications. As a result, credential-holders have the unique opportunity to accelerate through a Northeastern University degree.

Successful applicants for a master's degree program with their CFA® certification:

• Will receive 10 credit hours of transfer credit—a 22% savings in tuition.
• Transfer credit is awarded for the following courses: CED 6050 (Commerce & Economic Development), CED 6240 (Financial Ethics), FIN 6161 (Investment Analysis).

Successful applicants for a master's degree program with their CFP™ certification:

• Will receive 11 credit hours of transfer credit—a 24% savings in tuition.
• Transfer credit is awarded for the following courses:  CED 6050 (Commerce & Economic  Development), FIN 6102 (Asset & Liability Management), FIN 6161 (Investment Analysis).

Successful applicants for a master's degree program with their FRM® certification:

• Transfer credit is awarded for the following courses: FIN 6102 (Asset & Liability Management), FIN 6161 (Investment Analysis), CED 6250 (Derivatives & Alt. Investments).

Successful applicants for a master's degree program with their PRM™ certification:

Looking for something different?

A graduate degree or certificate from Northeastern—a top-ranked university—can accelerate your career through rigorous academic coursework and hands-on professional experience in the area of your interest. Apply now—and take your career to the next level.

Program Costs

Finance Your Education We offer a variety of resources, including scholarships and assistantships.

How to Apply Learn more about the application process and requirements.

Requirements

• Online application
• Statement of purpose (500–1000 words): Identify your educational goals and expectations of the program. Please be aware that Northeastern University's academic policy on plagiarism applies to your statement of purpose.
• Professional resumé
• Unofficial undergraduate transcripts; official transcripts required at the time of admission
• Two letters of recommendation from individuals who have either academic or professional knowledge of your capabilities such as a faculty member, colleague, or mentor, preferably one from your current employer
• Official associate or bachelor's degree transcript from an accredited college or university in the U.S., stating degree conferral and date
• TOEFL, IELTS, PTE, Duolingo, or NU Global Exam scores

Are You an International Student? Find out what additional documents are required to apply.

Admissions Details Learn more about the College of Professional Studies admissions process, policies, and required materials.

Admissions Dates

Our admissions process operates on a rolling basis; however, we do recommend the application guidelines below to ensure you can begin during your desired start term:

Domestic Application Guidelines

International Application Guidelines *

*International deadlines are only applicable if the program is F1 compliant.

Industry-aligned courses for in-demand careers.

For 100+ years, we’ve designed our programs with one thing in mind—your success. Explore the current program requirements and course descriptions, all designed to meet today’s industry needs and must-have skills.

View curriculum

Northeastern's signature experience-powered learning model has been at the heart of the university for more than a century. It combines world-class academics with professional practice, allowing you to acquire relevant, real-world skills you can immediately put into action in your current workplace. This makes a Northeastern education a dynamic, transformative experience, giving you countless opportunities to grow as a professional and person.

Learn About Getting Real World Experience

Our Faculty

Northeastern University faculty represents a broad cross-section of professional practices and fields, including finance, education, biomedical science, management, and the U.S. military. They serve as mentors and advisors and collaborate alongside you to solve the most pressing global challenges facing established and emerging markets.

Youngbok Ryu

Richard Swanson, PhD

Noradeen Farlekas

Mikhail Oet

By enrolling in Northeastern, you’ll gain access to students at 13 campus locations, 300,000+ alumni, and 3,000 employer partners worldwide. Our global university system provides students unique opportunities to think locally and act globally while serving as a platform for scaling ideas, talent, and solutions.

Below is a look at where our business alumni work, the positions they hold, and the skills they bring to their organization.

Where They Work

• State Street
• Fidelity Investments

What They Do

• Business Development
• Entrepreneurship

What They're Skilled At

• Customer Service
• Project Management
• Strategic Planning

Learn more about Northeastern Alumni on  Linkedin .

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Resources for

Quick links, new uw-stevens point graduate program blends business and natural resources .

Since it created the first conservation major in the nation in 1946, the University of Wisconsin-Stevens Point has been a leader in providing well-rounded and highly educated professionals to multi-faceted natural resources fields across the nation. 

With a newly revamped online Master of Natural Resources in Conservation and Leadership degree, UW-Stevens Point is offering natural resources professionals the opportunity to grow as a leader in their field by gaining the business management skills they need to advance while continuing to work full-time.  

This graduate program is 100 percent online and blends courses in business management with those in natural resources. Students also choose a certificate program to tailor the degree, with options such as water resources, applied management and environmental education and interpretation. 

Applications are now open for this fall. Students may begin in the fall or spring, with additional summer courses offered. Students may study part- or full-time, with courses that are asynchronous (at your own pace) and synchronous (time-based). 

The UW-Stevens Point College of Natural Resources (CNR) collaborated with the university’s Sentry School of Business and Economics to create a program that fits the needs of today’s natural resources professionals, said Brenda Lackey, associate dean for academic affairs within the CNR. 

“UW-Stevens Point’s Growth Initiative supported an analysis of those working in natural resources and found there is a need and demand for this kind of program,” said Lackey. “The overwhelming response from employees and our CNR alumni was that adding business and management courses to the degree would benefit both student and employee master’s degree candidates.” 

This program refocuses an online master of natural resources program that began in 2018. The CNR also offers an in-person, thesis-based Master of Science degree in natural resources. 

Nine business credits include courses on budget and project management and Lean Six Sigma management, while 12 natural resources credits include policy, research and ecology courses. 

“This new program is flexible for working adults looking for management skills,” said Nicholas Schultz, the graduate recruitment coordinator at UW-Stevens Point. “You don’t need to have a natural resources undergraduate degree to enter this program, so it also offers a career change for those interested in jobs with an environmental, sustainability or natural resources focus.” 

Scholarships are available, said Lackey, and additionally, the tuition is the same for in state and out-of-state residents, Lackey said. “This is a great opportunity for those living in Alaska or right here in Wisconsin.” 

Patrick Marschie, an alum of the online graduate program, credits it for helping him land his job as a cooperative forestry manager within the South Dakota Department of Agriculture and Natural Resources. 

“This program opened up professional opportunities and gave me the tools to succeed,” he said. “I would not be in a natural resources management position without completing UWSP’s MNR program.” 

The program is one of the first to come out of UW-Stevens Point’s Growth Initiative, an aspect of the university’s strategic plan that has faculty working to create programming that meets the needs of today’s professionals and the global economy. 

“UW-Stevens Point is dedicated to providing vibrant programs that foster student success,” said Renee Pfeifer-Luckett, associate vice chancellor for program growth. “With the Growth Initiative, the university is extending our reach beyond our campuses by offering new online and graduate programs that cater to evolving learner needs.”

To learn more or apply for the Master of Natural Resources in Conservation and Leadership program, go to www.uwsp.edu/programs/degree/master-of-natural-resources-degree/ , attend one of the many upcoming information sessions or contact Schultz at [email protected] .

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Counseling, Educational Psychology & Research

• Safety & Security
• Prospective Students
• Current Students
• Parents & Family
• Faculty & Staff

Counselor Education and Supervision Ph.D.

The Ph.D. program in Counselor Education and Supervision is designed to prepare Counselor Educators, researchers, and supervisors. If you want to be a Counselor Educator, our Counselor Education and Supervision Ph.D. program puts you on the fast track for a faculty position.

If you're looking for a faculty position in a CACREP-accredited Counseling program, this Ph.D. program provides exceptional training for academic careers. This program features world-class facilities and nationally renowned researchers. Graduates of our Ph.D. program have earned tenure-track faculty appointments at major universities across the country.

Our Ph.D. program in Counselor Education and Supervision excels at shaping faculty careers because:

• We have a national reputation . Our Counseling Division is the largest in Tennessee in terms of student enrollment. We also offer more master's level concentrations than any program in the state. Our student body is the most diverse in Tennessee. You will benefit from our size and variety. A degree from our program makes a strong impression in faculty search committees.
• We do cutting-edge research . Our faculty are engaged in multiple funded studies. Our faculty have a variety of foundation, state, and federal grants. You will have access to the UofM's research infrastructure, and the department's in-house clinic. Our faculty are leading groundbreaking research in many areas including adverse childhood experiences, addiction, risk-taking behaviors, and healthcare access.
• We excel in both qualitative and quantitative methods . Few Counselor Education and Supervision Ph.D. programs can match our training in research methodology and statistics. Our statistics and research courses are taught by faculty in the department's Educational Psychology and Research program which is currently ranked 5th in the nation. You will benefit from the rigor and diverse course offerings of this nationally ranked program. No matter what type of research you want to focus on, we have the facilities and faculty to support you.
• We will train you to teach . Our program has coursework to train you in teaching, pedagogy, and classroom management. You will have the opportunity to teach courses on your own with close supervision and mentoring from our most seasoned faculty. This experience will help you develop practical skills necessary to lead college-level classrooms effectively. Strong teaching ability will round out your candidacy for faculty appointments, and it helps to explain our graduates' excellent track record in landing tenure-track jobs.
• We support our students . Our doctoral students receive funding via teaching and research assistantships. Our TAs and RAs receive tuition remission and a monthly stipend. While you are employed as a TA or RA, you will learn life as a faculty member by engaging in the very activities you will do as a professor.

Program Goals and Objectives

The Counselor Education and Supervision program prepares college faculty, scholars, and leaders in the counseling profession. Students will gain: (1) ability to collect, analyze, and interpret individual and group data, and to generate and test hypotheses related to human behavior; (2) advanced comprehension of concepts and theories underlying the profession of counseling; (3) the ability to formulate, implement, and evaluate appropriate counseling programs and interventions; and (4) the ability to understand and demonstrate ethical behavior and the legal and ethical implications of that behavior.

Program Coordinators

Melanie Burgess Assistant Professor Ph.D., Old Dominion University, 2019 [email protected]  

Taneshia Greenidge Assistant Professor Ph.D., University of Florida, 2019 [email protected]  

Faculty Research

Faculty in the Counseling Division engage in a variety of cutting edge and societally relevant research and our doctoral students will be expected to join in their work. Faculty in the division run multiple research labs covering numerous topics including models of counseling supervision, access to healthcare, adverse childhood experiences, and forensic counseling, among others. Students work with faculty and publish and present their findings as co-authors. The department has a robust history of sending our doctoral students to professional conferences around the world. Learn more about our research here .

Admission Requirements

Entering students must possess a master's degree in counseling (concentration open) from a CACREP or CORE-accredited program. Students with a master's degree in counseling that does not contain all key elements of a CACREP-accredited degree may be considered for admission, but will be required to complete additional coursework.

The program enrolls 5 to 6 students each year. Applications are accepted for the Fall semester only, and applications for the 2024 class are due March 1st. Applicants are expected to enter with a master's degree and typically spend 3 to 4 years in full-time residence to complete the program. Preference is given to applicants seeking full-time enrollment, but those seeking enrollment as part-time students are also considered. For more information about the programs policies and procedures, consult the Counselor Education and Supervision Student Handbook .

Application Procedures

As noted, the application deadline is March 1st . All applicants must submit:

• Transcripts of all colleges attended at both the undergraduate and graduate levels
• Three letters of reference
• A curriculum vitae
• A personal statement 

The personal statement should be a concise but a complete report of applicant's counseling training and experiences, research background and interests, and an outline of future career goals. There is no page limit. Qualified applicants will be invited to campus for an interview. Applicants will be asked to identify at least two potential faculty members to serve as their major professor.

Clinical Training

The Counselor Education and Supervision Ph.D. program and the other clinical programs in CEPR participate in the university-wide Interprofessional Community Health Clinic (ICHC) . Located in the Community Health Building, the ICHC is CEPR's in-house training clinic. Students in our Clinical Mental Health Counseling, Clinical Rehabilitation Counseling, and Rehabilitation Counseling master's programs, as well as doctoral students in our Counselor Education and Supervision and Counseling Psychology programs use the ICHC as one of their clinical placement sites. Students in these programs complete practica and internship experiences in the ICHC. Services include:

• Individual counseling
• Couples counseling
• Family Therapy
• Group counseling
• Psychological and psychoeducational evaluations
• Vocational counseling

Financial Assistance

The department provides qualified full-time students with teaching (TA) and/or research (RA) assistantships. Assistantships are provided on a competitive basis at the departmental level. Additional RAs and TAs are available across campus as well. For additional information, click here for our financial assistance page or contact your concentration coordinator.

Accreditation

The doctoral program in Counselor Education and Supervision is accredited by the  Council for the Accreditation of Counseling and Related Educational Programs (CACREP) . You can access our CACREP Accreditation here .

Important Links

Here is a link to forms and other documents for current students