The most common types of master's degree are the Master of Science (M.S.) and the Master of Arts (M.A.). There also are some professional degrees, including the Master of Business Administration (M.B.A.) and the Master of Education (M.Ed.).
There has been an increase in dual-degree programs, in which students can earn two master's degrees for the cost of one. Dual programs join two fields. These programs allow students to gain specialized expertise in more than one area of study.
A master's degree can lead to a greater range of career opportunities, as well as provide a means of advancement. An increasing number of professions recommend or even require a master's degree. The degree allows students to gain expertise in a new field of study or deepen their knowledge if they pursue a master's degree in the same field that was their undergraduate major.
In some professions, a master's degree can lead to higher-paying positions. This is especially true of an M.B.A., which can lead to considerable salary boosts.
The time required to complete a master's degree varies by degree type and school, but in general, many degrees can be completed in about two years.
Although the potential for reward is high, pursuing a master's degree requires a substantial investment of time and money. Students should weigh the costs and expected benefits of pursuing such a degree.