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Master’s Degrees = More Money?

Posted Sep 13, 2007 5:12 PM CDT
By Martha Neil

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Despite their hefty price tag, master's degrees are increasingly popular with both the students who earn them and the institutions that offer them, and for essentially the same reason: money.

Institutions that offer these graduate degrees amp up their tuition revenue, reports the New York Times. Meanwhile, students expect to see a salary payoff because of the credential.

Rey A. Phillips Santos, an attorney who works for the city of Chicago, has three graduate degrees, in law, environmental management and social sciences, the article states. It notes that he received the first two in a joint-degree program offered by Chicago-Kent College of Law and the affiliated Stuart Graduate School of Business.

“There is a huge demand for credentials in high-level jobs now,” says Phillips. “Each of my degrees helped me to get a leg up in the job market, and earn higher salaries than I would have otherwise. They were great investments.”

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