Masters Degree Tier List 2024 (Masters Degrees RANKED)

Shane Hummus
10 Jan 202320:23
EducationalLearning
32 Likes 10 Comments

TLDRThe video script discusses the tier ranking of Master's degrees for 2023, categorizing them from best (S tier) to worst (F tier). It emphasizes the importance of considering entry-level job demand, highlighting that technology and engineering degrees are highly valued, while certain health and business degrees also rank well. The script advises viewers to research specific career paths and consider the practicality of degrees, especially in fields like art and social sciences, where job prospects and salaries may not justify the investment in higher education.

Takeaways
  • πŸ† Technology master's degrees are highly valued and versatile, with multiple pathways into tech careers, including self-study and certifications.
  • πŸ” A master's in computer science can lead to a high salary, with an average of $106,000 per year, and significant job demand.
  • πŸš€ Engineering master's degrees offer good career prospects and higher salaries, though not all engineering careers require a master's for entry.
  • 🌿 Science degrees at the master's level can improve job opportunities and salaries, especially for fields like biology where a bachelor's degree may not be sufficient.
  • πŸ“Š Master's degrees in mathematics and statistics are desirable, particularly in finance, with good salaries and demand.
  • βš–οΈ Acupuncture and natural medicine degrees may not offer a high return on investment, with lower salaries and challenging job markets.
  • 🎨 Art-related master's degrees are generally not recommended for most people, as practical experience and networking can be more beneficial than formal education.
  • πŸ‘¨β€πŸ« Becoming a college professor with a master's degree can be a rewarding career, but it's highly competitive and subject-dependent.
  • πŸ“ˆ Data science master's degrees can lead to high salaries and strong job demand, with a master's degree often beneficial for landing positions.
  • πŸ’Ό MBA degrees can be valuable for certain individuals and goals, but their worth greatly depends on the school and the individual's career aspirations.
  • πŸ‘©β€πŸ« Master's level education degrees for teaching offer job security but may limit earning potential and have other downsides.
Q & A
  • What is the main change in the Master's Degree tier list for 2023 compared to the previous year?

    -The main change in the 2023 Master's Degree tier list is the inclusion of entry-level job demand, which differentiates between the overall demand for a career and the demand at the entry level.

  • Why is it important to consider entry-level job demand when evaluating master's degrees?

    -Considering entry-level job demand is important because many careers have high demand but require prior experience, making it more useful for individuals, particularly high school or college students, to understand the demand for beginners in the field.

  • What are some ways to enter technology careers, and how do they generally compare in terms of return on investment?

    -There are several ways to enter technology careers, including getting a degree, self-study, obtaining certificates, and completing online courses. Generally, any path into technology careers offers a good return on investment due to the strong industry demand.

  • What is the average salary for a computer scientist with a master's degree, according to Glassdoor?

    -According to Glassdoor, a computer scientist with a master's degree can expect to make about $106,000 per year.

  • How many people graduate with a master's degree in computer science each year, and what does LinkedIn show in terms of job postings for this field?

    -There are about 12,400 people graduating with a master's degree in computer science per year. On LinkedIn, searching for 'computer science' at the entry level yields approximately 191,000 results, indicating a high number of job postings.

  • What is the general comparison between technology and engineering degrees versus science and math degrees?

    -Technology and engineering degrees are generally considered better than science and math degrees, with the former offering higher demand and potentially better job outcomes.

  • What are the potential career outcomes and average salaries for individuals with a master's degree in biology?

    -With a master's degree in biology, individuals might become research scientists, with an average salary of about $97,000 per year, according to Glassdoor. However, this position typically requires a Ph.D., so a master's degree holder might earn less.

  • What is the average salary for a licensed acupuncturist in the U.S., and what challenges might they face in terms of debt and job prospects?

    -The average salary for a licensed acupuncturist in the U.S. is about $57,000 per year, according to Glassdoor. They might face challenges with high debt to income ratios and limited job prospects, with about 35,000 results on LinkedIn at the entry level.

  • What are the general recommendations for individuals considering pursuing a master's degree in arts?

    -For the majority of individuals, it is not recommended to pursue a master's degree in arts. Instead, they should consider moving to areas with thriving art communities and learning from experienced practitioners directly, as this can be more cost-effective and practical than obtaining a formal degree.

  • What is the potential earning for a mathematician or mathematical statistician with a master's degree, and how does demand look on LinkedIn?

    -A mathematician with a master's degree can expect to make about $90,000 per year, while a mathematical statistician might earn about $105,000 per year. On LinkedIn, there are approximately 24,000 results for 'mathematician' and 14,000 results for 'statistician' at the entry level, indicating decent demand.

Outlines
00:00
πŸŽ“ Master's Degrees Ranking for 2023

The video discusses the ranking of master's degrees for the year 2023, categorizing them from S tier (best) to F tier (worst). The focus is on entry-level job demand, which is a significant change from previous years that considered general demand. The importance of understanding the demand at the entry level is emphasized, especially for viewers who are high school or college students. The video will cover technology degrees first, noting that various paths into technology careers generally yield good outcomes, but a master's degree can be particularly beneficial for certain fields like machine learning and AI.

05:01
πŸ”§ Engineering & Science Master's Degrees

The script moves on to discuss engineering and science master's degrees. It highlights that the value of a master's degree in engineering depends on the specific career path, with some not requiring a master's for entry. However, for fields like electrical or electronics engineering, a master's degree can lead to higher salaries and more job opportunities. Science degrees, on the other hand, can be less valuable at the bachelor's level but offer more opportunities at the master's level, particularly for research scientists. The video emphasizes the importance of understanding the demand and requirements for specific careers in these fields.

10:02
πŸ“Š Math & Acupuncture Master's Degrees

The video continues with an analysis of math degrees, which can lead to careers like mathematician or statistician, with decent demand and salaries. However, math degrees are considered less practical than engineering for most roles. Acupuncture degrees are discussed next, with the video noting the low salaries and high debt-to-income ratio for this field. The speaker advises viewers to research thoroughly before pursuing a career in acupuncture or natural medicine.

15:03
🎨 Art & College Professor Master's Degrees

The speaker advises against pursuing an art degree for the majority of people, suggesting that practical experience and mentorship may be more valuable. Becoming a college professor is discussed, with the video noting that while it can be a rewarding job, the competition for these positions is fierce, and success depends on the subject area. The video also touches on the adaptability of colleges to current market demands and the general lack of cutting-edge education in college settings.

20:05
πŸ“ˆ Data Science, MBA, & Business Master's Degrees

The video talks about data science and the benefits of having a master's degree in this field, despite some arguing that it's possible to succeed with less education. MBAs are discussed, with the speaker noting that their value depends on the individual's goals and the school they attend. Business-related master's degrees are also mentioned, with international business as an example, highlighting the importance of understanding the global market and language skills for this field.

πŸ‘¨β€πŸ« Education, Nurse Practitioner, & Healthcare Master's Degrees

The video addresses education degrees, acknowledging the value of teaching but noting the limitations in salary and job prospects. Nurse practitioner and other health-related master's degrees are praised for their flexibility and high job satisfaction, despite potentially lower pay compared to other medical careers. The video concludes with a case study of Javier, who transitioned from a graduate program to a successful career in digital marketing, emphasizing the importance of considering alternatives to traditional career paths.

πŸ€” Considering Graduate Degrees

The video concludes with a recommendation to watch a previous discussion on the pros and cons of graduate degrees. It encourages viewers to thoroughly research and consider their options before pursuing a graduate-level degree, ensuring that the investment aligns with their career goals and the potential return on investment.

Mindmap
Keywords
πŸ’‘Master's Degree Tier List
The Master's Degree Tier List is a ranking system used in the video to categorize different master's degrees based on their perceived value and job market demand. It ranges from S tier, indicating the best, to F tier, indicating the worst. This list is intended to guide students and professionals in choosing their postgraduate studies by considering the potential return on investment and career outcomes.
πŸ’‘Technology Careers
Technology careers refer to professions that are within the tech industry, which includes roles in computer science, information technology, and other related fields. These careers are often associated with high demand and good outcomes, regardless of the specific path taken to enter the field, such as formal education, self-study, or online courses. The video emphasizes that technology degrees are considered S tier at all education levels, including the master's level.
πŸ’‘Entry-Level Job Demand
Entry-Level Job Demand refers to the job market's need for professionals at the beginning stages of their careers. The video highlights the importance of considering not just the overall demand for a career but specifically the demand at the entry level, as some careers may require prior experience and thus not have a high entry-level demand. This factor is crucial for students and recent graduates making decisions about their educational path.
πŸ’‘Engineering Degrees
Engineering degrees are academic qualifications that prepare individuals for careers in various engineering disciplines, such as electrical, mechanical, or civil engineering. The video discusses that while a master's degree in engineering can be beneficial for certain careers, it is often not a requirement for many engineering roles, making engineering degrees valuable at both bachelor's and master's levels.
πŸ’‘Science Degrees
Science degrees encompass a broad range of fields, including biology, chemistry, and physics. The video points out that while certain science degrees may not offer the best outcomes at the bachelor's level, pursuing a master's degree can significantly improve job prospects and salaries. However, the demand and outcomes vary greatly depending on the specific science field.
πŸ’‘Math Degrees
Math degrees focus on the study of mathematical concepts, theories, and applications. These degrees prepare individuals for careers that involve complex problem-solving and analytical skills. The video suggests that math degrees, particularly at the master's level, can lead to well-paying jobs, especially in fields like finance and statistics.
πŸ’‘Healthcare Degrees
Healthcare degrees are academic qualifications that prepare individuals for various roles within the healthcare industry, including nursing, occupational therapy, and physician assisting. The video emphasizes that healthcare degrees, particularly at the master's level, are highly valued and offer strong job prospects, high salaries, and high job satisfaction.
πŸ’‘Business Administration (MBA)
A Master's in Business Administration (MBA) is a postgraduate degree that provides comprehensive management and business education. The value of an MBA varies greatly depending on the individual's goals, the school attended, and the specific field of business. The video suggests that while an MBA can open doors and lead to management positions with good salaries, its overall worth is highly situational and should be carefully considered.
πŸ’‘Education Degrees
Education degrees are academic qualifications that prepare individuals for careers in teaching and education. The video notes that while teaching is a valuable profession with guaranteed job opportunities, education degrees often come with limitations in terms of salary and career growth. These degrees are considered less lucrative compared to other master's level degrees, especially in healthcare and technology fields.
πŸ’‘Debt-to-Income Ratio
The debt-to-income ratio is a financial measure that indicates the amount of debt a graduate has compared to their income. A high debt-to-income ratio suggests that a graduate is taking on more debt relative to their income, which can be problematic for financial stability after graduation. The video uses this metric to evaluate the financial impact of certain master's degrees, particularly in fields like acupuncture, where the ratio is notably high.
πŸ’‘Job Satisfaction
Job satisfaction refers to the contentment and fulfillment one experiences in their professional role. It is influenced by various factors, including salary, work environment, and the nature of the work itself. The video mentions job satisfaction in the context of certain healthcare degrees, noting that while some may offer lower salaries, they can provide high levels of job satisfaction, making them still attractive career options.
πŸ’‘Flexibility in Careers
Flexibility in careers refers to the ability to adapt and change one's professional path as desired or required. It is an important factor for individuals who may want to switch roles, specialties, or industries during their career. The video highlights the flexibility of certain healthcare degrees, such as physician assistant, which allows for easy transitions between different medical specialties without the need for extensive additional training.
Highlights

The video ranks master's degrees from S tier (best) to F tier (worst), with a focus on entry-level job demand.

Last year's list only considered general demand, but this year includes specific entry-level job demand.

Technology degrees at the master's level are highly valued, with multiple pathways into tech careers, including self-study and certificates.

A master's in computer science could lead to a salary of around $106,000 per year, with 12,400 graduates per year.

Engineering master's degrees are also highly regarded, but the necessity of a master's varies by specific career path.

Science degrees, such as biology, are less valuable at the bachelor's level but offer more opportunities at the master's level.

Math degrees, including statistics, are in high demand in fields like finance, with a master's degree potentially leading to a salary of around $105,000 per year.

Acupuncture and natural medicine degrees are ranked low due to high debt-to-income ratios and limited job opportunities.

Art-related master's degrees are generally not recommended, with few exceptions for exceptionally talented individuals.

Becoming a college professor often requires a specific subject matter expertise and can be highly competitive.

Data science is a field where a master's degree can significantly improve job prospects and earning potential.

An MBA can be valuable if pursued for the right reasons and at the right school, but its effectiveness varies greatly.

Business-related master's degrees, such as international business, require careful planning and knowledge of the targeted country and its language.

Education degrees, while valuable and secure, often come with limited earning potential.

Nurse practitioner is a strong career choice with a master's degree, offering high job satisfaction and demand.

Occupational therapist is a health degree with high job satisfaction, although the pay is lower compared to other medical careers.

Physician assistant is a flexible and in-demand medical career, even at the master's level.

Psychology degrees at the master's level often require a doctorate for better job prospects, but still offer decent salaries and opportunities.

Social work degrees, while important, have lower salaries and high debt-to-income ratios.

Speech language pathologist is a health-related degree with good earning potential and demand.

Transcripts
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