Benefits may be high for students earning an advanced degree

Earning an advanced degree may open doors to more job opportunities and a higher salary.
Earning an advanced degree may open doors to more job opportunities and a higher salary.

According to a 2010 study by the Commission on the Future of Graduate Education in the United States, between 2008 and 2018 about 2.5 million jobs will require a master's, doctoral, or another type of advanced degree.

The jobs that currently prefer higher education are extremely varied and include professions from many different fields, the Bureau of Labor Statistics reports. For example, for most careers as a speech-language pathologist, a master's degree is required. Similarly, a position as any type of counselor frequently demands a master's.

Jobs that may request that employees hold a doctoral degree include psychologists, education administrators and athletic trainers, according to the study.

Still, there are other benefits to earning an advanced degree. According to the BLS, individuals who pursue higher education tend to have larger annual salaries. For example, while people who earn a bachelor's make about $53,300 annually, those who receive their master's earn an average of $65,364 per year. A doctoral degree can further increase this salary to about $79,664 annually, according to the source.

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