Master’s Degrees For The Future + Jobs To Consider

If you’re thinking about getting a master’s degree, you should choose a field that not only interests you but also has a good job outlook. In this post, we will review ten of the best master’s degrees for the future, along with the incomes of comparable occupations for each degree.

What makes a degree the best master’s degree for the future?

Degrees that have the highest job prospects, earnings, and career advancement in their respective sectors frequently identify themselves as the best degrees for the future. Other factors, such as job relevance, may influence projections for the top degrees.

The ongoing demand for certain jobs in critical industries, such as health care, may also influence whether a degree is desirable in the future, as persons in those roles frequently benefit from job stability.

Best master’s degrees for the future

Here’s a list of some of the best master’s degrees for the future, with job growth statistics that the Bureau of Labor Statistics projects for 2020-2030:

1. Finance

People with graduate finance degrees frequently monitor financial market movements, prepare for firm financial activity, and provide investment advice. These degrees often include courses in risk management, financial reporting, macroeconomics, investing, and business modeling. These degrees may also help students improve their mathematical, organizational, and interpersonal skills. Banks, insurance businesses, and financial planning organizations are some of the usual employment environments for those with master’s degrees in finance.

The BLS states that an average salary for both business and financial occupations is about $72,250 per year with fast-as-average job growth of 8%, but strictly finance-related occupations such as financial risk managers may enjoy an above-average salary of about $99,022 per year.

Other related financial occupations you may get with a graduate finance degree include:

• Financial analyst
• Financial manager
• Auditor

2. Business administration

A master’s degree in business administration (MBA) typically includes extensive courses in accounting, statistics, entrepreneurship, economics, and communications. This degree frequently helps people improve their leadership, communication, and problem-solving abilities.

Many people pursuing a master’s degree in business administration have prior experience in management or leadership. This degree could help people enhance corporate procedures or increase profits. It may also offer further training for supervising employees, maintaining buildings, and keeping records.

The average job growth rate for management occupations requiring an MBA is 9%, which is on par with the overall rate. The BLS estimates that this will result in 906,800 new jobs by 2030. MBA holders typically earn an average of about $109,760 per year. Masters of business administration graduates can work in a variety of industries, including finance and accounting, information technology, and sales. Positions in these industries could include:

• Chief technology officer
• Public relations specialist
• Purchasing manager

3. Economics

An economist with a doctorate degree may be responsible for assessing and predicting market trends, investigating market difficulties, analyzing data using software, or conducting surveys. Graduate economics degrees frequently contain courses in quantitative economic analysis, econometrics, microeconomics, macroeconomics, and applied mathematics. These degrees frequently assist students improve their writing, speaking, and critical thinking abilities.

Economists typically earn a salary of $107,660 annually. According to the Bureau of Labor Statistics, jobs will rise at a faster-than-average rate of 13% by 2030, with 1,600 new roles added each year. Some relevant work positions could include:

• Budget analyst
• Political consultant

4. Computer science

A master’s degree in computer science expands on the fundamental computer knowledge acquired at the undergraduate level. This could include a more in-depth investigation of issues like artificial intelligence, software engineering, networks, and theoretical computer science. This degree prepares you to address complex issues and challenges in fields such as cloud computing, machine learning, data privacy, and advanced programming.

According to the Bureau of Labor Statistics (BLS), occupations requiring a master’s degree in computer science typically have faster-than-average job growth of 13%, with 667,600 opportunities expected between 2020 and 2030. People working in computer science earn a median annual salary of about $91,250. Possible occupations are:

• Computer scientist
• Network and computer systems administrator
• Software developer
• Quality assurance analyst

5. Information technology

A master’s degree in information technology is related to a broader computer science degree, although there are some significant differences between the two. Master’s degrees in information technology often cover topics such as information systems development and operating system fundamentals.

Computer and network security, wireless technology, and IT project management are all possible topics for coursework. IT master’s degrees can assist students improve their multitasking, decision-making, and problem-solving abilities.
Job growth in information technology and computer science often exceeds the norm by 13%. According to the BLS, 667,600 jobs in these areas could open up by 2030. The average annual pay for both industries is about $91,250.

Some IT occupations such as information security analysts may even increase by 33% and include an average salary of about $82,989 per year.

Potential jobs you may get with this degree include:

• Database administrator
• Database architect

6. Industrial engineering

Industrial engineers create and implement waste-reduction techniques during production operations. Trigonometry, computer science, production systems planning, and physics are common subjects covered in industrial engineering master’s programs. Students frequently acquire creativity, as well as other skills like critical thinking, math, writing, and problem solving.

This master’s degree allows you to build control systems, ensure quality control, and discuss client demands.
People with graduate industrial engineering degrees typically earn about $73,185 per year. According to the BLS, job vacancies may increase by 14% annually, including 23,300 new positions. People with this degree may work in the following jobs:

• Manufacturing engineer
• Mechanical engineer
• Process engineer

7. Counseling

Counselors counsel and support patients and frequently specialize in certain fields, such as rehabilitation or education. Cultural diversity, ethical practice, group therapy, and assessments are common course topics in counseling master’s programs.

This degree may help students develop compassion and patience, as well as abilities like listening, speaking, and interpersonal communication. As a graduate-level counselor, you may run outreach programs, examine patients’ mental health or behavioral concerns, and assist clients in overcoming challenges such as addiction.

The BLS explains that professionals with master’s degrees in counseling for substance abuse, mental health and behavioral disorders typically receive salaries of about $84,704 per year. By 2030, this field may increase by 23%, which is much faster than average. Open positions may also increase by 41,000 per year.

Other counseling positions for people with master’s degrees include:

• Career adviser
• Social worker

Physician assistants work alongside medical experts to evaluate, diagnose, and treat patients. A master’s degree in physician assistant studies frequently includes courses in pathology, human anatomy, physiology, ethics, pharmacology, and clinical medicine.

Most people who pursue this degree already have at least two years of professional experience as patient care providers, paramedics, or registered nurses. A master’s degree in physician assistant studies allows you to do research on medical therapies, run outreach initiatives, counsel patients, and provide therapy such as bone setting.

According to the Bureau of Labor Statistics, health care occupations requiring a master’s degree in physician assisting are expected to grow at a 31% rate, with 12,200 new vacancies every year. Physician assistants typically earn approximately about $73,570 per year.

Physician assistants often specialize in different medical areas and work with other professionals, such as:

• Physical therapist
• Physician
• Surgeon
• Podiatrist
• Nurse practitioner

9. Statistics

Statisticians frequently collect and assess data to inform business choices. Masters degrees in statistics or mathematics typically include courses that delve deeper into calculus, linear and abstract algebra, differential equations, and statistical computers. This degree may help you improve your analytical and logical thinking skills. Some jobs may require master’s degrees in statistics for professional growth.

According to the Bureau of Labor Statistics, statistician jobs will rise at a much faster-than-average rate of 33%, with 5,200 positions expected each year. Statisticians earn an average of $98,046 per year. These individuals frequently specialize in a variety of areas, including postsecondary education, health care, the federal government, economics, and research facilities.

Possible occupations may include:

• Research statistician
• Biostatistician
• Mathematical statistician

10. Nursing

A Master of Science in Nursing (MSN) degree enables you to pursue advanced health-care careers such as nurse practitioner. Master’s nursing courses frequently involve clinical practice, advanced health assessment, pathophysiology, nutrition, and human anatomy. These lessons may help students develop compassion as well as abilities like resourcefulness, leadership, attention to detail, and effective communication.

Nursing duties for MSN-holders include delivering anesthesia, giving medication, collecting patient histories, and conducting physicals.
Professionals with MSNs earn an average of $117,670 annually. The BLS predicts that these health-care positions will grow by 45% by 2030, which is significantly faster than the national average. This includes 29, 400 new positions every year.

Possible occupations for graduate nursing degree holders include:

• Nurse anesthesiologist
• Nurse-midwife
• Advanced practice registered nurse (APRN

Frequently asked questions

• Which master’s degree has the highest projected job outlook?

The master’s degree with the highest projected job outlook depends on future industry demands and the number of people who pursue the degree. One degree with good employment prospects is a Master of Science in nursing, as it can lead to a career as a nurse practitioner. The BLS currently predicts this profession and similar roles to have a growth rate of 40% from 2021 to 2031. Other promising fields to consider pursuing at the graduate level include data science, statistics and web development.

• What is the most popular master’s degree?

One of the most popular master’s degrees is a Master of Business Administration (MBA). The National Center for Education Statistics reports that postsecondary institutions awarded 197,422 business master’s degrees from 2019 to 2020. In this same time frame, other leading master’s degrees include those related to education, health, computer and information sciences and public administration.

• Are master’s degrees worth it?

While a master’s degree requires additional schooling, the time and effort it takes to complete challenging graduate coursework can be well worth it. It allows you to gain valuable knowledge that makes you a more competitive candidate in your field. Additionally, it can increase your job prospects and earning potential. The BLS reports that in 2021, individuals with master’s degrees had lower unemployment rates and higher weekly earnings than those with less education.