Is a Master’s Degree the New Bachelor’s?

Thirty years ago, having a bachelor’s degree was prestigious enough to demonstrate one’s academic ability and potential for productivity. But in the year 2010, it has become relatively commonplace for individuals to complete bachelor degree programs. And in light of that reality, one has to wonder just how relevant a bachelor’s degree is in the current environment.

The rise in unemployment rates has seen both employed and unemployed African Americans opting to return to school to earn advanced degrees to enhance job mobility and increase incomes.

Having a bachelor’s degree is still valuable and essential, but when it comes to competing for a job, an individual with a master’s degree is more likely to get a second look.

There was a time when having a bachelor’s degree was synonymous with a good job and a good salary. However the downturn in the economy means job seekers are at the employers’ mercy and many are raising their job requirements, oftentimes requiring a master’s degree for professional positions.

According to the The National Center for Higher Education Management Systems, those holding a bachelor’s degree earned a median income of $21,455. The Bureau of Labor Statistics reports that the unemployment rate in 2009 for people with a high school diploma was 10.8 percent — compared to 8.2 percent for people with some college or an associates degree, and 4.9 percent for those with college degrees.  

Bearing in mind that knowledge is power, getting a master’s degree may be the ticket to a more prosperous future. 
–christian johnson