{ "media_type": "text", "post_content": "Starting to think that having a masters doesn’t make a difference. Seeing folks right out of college moving up faster & getting more $. Seems I’d be more far along if didn’t spend the time getting MA.", "post_id": "5da1e6b4ce0d73002248f799", "reply_count": 10, "vote_count": 8, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

Starting to think that having a masters doesn’t make a difference. Seeing folks right out of college moving up faster & getting more $. Seems I’d be more far along if didn’t spend the time getting MA.

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Masters - except MBAs and professional degrees like MSWs - are sort of "half degrees" and don't do anything for your career. You get them because you want to learn more about the subject. (or, you washed out of the PhD program).

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Once you are in the company, you don’t get more $ because of your degree but because of your performance. Hopefully your degree means you perform better than your peers. If you don’t perform better, why would you get paid more?

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Some companies (not consulting) will pay ~7-10k more with a Master’s. I received offers that were more compared to my undergrad peers (I graduated with a BS + Master’s in 4 years so it was the same amount of time for me).

With that being said, I think a Master’s is only worth it for a career change/an opportunity for another round of campus recruiting if you messed up in your undergrad.

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In consulting, maybe. In industry it makes a difference

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Agree. No real value unless the company or government automatically provides higher comp for having one.

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True for the US, but in Europe Masters seem to be the norm.

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OP, yes. That is the reality.

I think that's the case for most of the time
But for me, my masters degree got me an experienced hire-level position, saving me 2-3 years of work.
Did it accelerate my career relative to me getting into D right out of undergrad? No. But in terms of timelines, I did break even. All the while, the prestige and new subject matter helped me to 1) get into consulting in the first place and 2) switch fields. I was in an irrelevant field from a tier 3 school before, and my new field has a far far better upward trajectory than before.

FWIW, I’m not getting my masters for consulting or making more money while in consulting. I’m getting it for when I exit into industry. A lot of the types of jobs I want to apply for in 2-3 years “prefer” a masters degree and I’m going to a school that’s the top in my desired industry so I’ll get the alum connections/recognition.

I did an accelerated masters program (1st year of masters program counted for senior year of undergrad) so got my bachelors and masters in 5 years. I came into consulting as a consultant instead of an analyst due to the masters and it accelerated my career. However, this was also 20 years ago and things change.

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