The Many Benefits of a Graduate Degree

The benefits of a graduate degree extend far beyond higher salaries. They offer opportunities for career advancement, specialized knowledge, and invaluable professional connection.


In the 2021–22 academic school year, approximately 880,250 students earned a master's degree in the United States. By 2031–32, this number is expected to rise to over 1 million. This growth proves the rising value and demand for graduate education.


Is it really worth it to get a graduate degree? Use this guide to understand the benefits of earning a master’s degree and why it can be a worthwhile investment for your future.


Students in their professions.



The Growing Need for Graduate Degrees in a Competitive Job Market

In today’s evolving job market, a master’s degree can set professionals apart from their peers. As industries advance and workplaces become more competitive, higher education has become essential to stay relevant.


Hiring managers evaluate both experience and education when considering candidates. A graduate degree signals that you have the advanced knowledge and specialized skills employers value. Some jobs even require a graduate degree for consideration. If you’re looking to stand out in your career or pursue leadership roles, earning a graduate degree can make all the difference.


Which master’s degree is most in demand? Programs in healthcare, technology, business, and education continue to lead the way in offering strong job prospects. 



Personal Growth and Skills Development

Graduate school is more than just coursework — it’s an opportunity for personal and intellectual growth. Programs challenge you to develop essential skills like critical thinking, problem-solving, and research.


In addition to technical knowledge, graduate education encourages:


  • Advanced knowledge: You’ll develop in-depth expertise in a specialized field, positioning you as a leader and mentor within your workplace.

  • A sense of accomplishment: Completing a graduate degree is a significant achievement that allows you to reach your full potential.

  • Personal growth: Research and academic discussions stimulate intellectual curiosity and build confidence in your abilities.


These transferable skills are not only valuable in the workplace but also in day-to-day decision-making and problem-solving.



Return on Investment (ROI) of a Graduate Degree: Beyond Salary

While it’s true that graduate degree holders earn more on average than those with a bachelor’s degree, making grad school financially worth it, the return on investment (ROI) also includes:


  • Access to exclusive career opportunities: Many high-level or leadership positions require a master’s degree as a baseline qualification.

  • Career satisfaction: With a graduate degree, you may find opportunities that align with your interests and goals, leading to greater job fulfillment.

  • Job security: Advanced qualifications often provide greater stability, even during economic downturns. The U.S. Bureau of Labor and Statistics reports that the higher the degree, the lower the unemployment rate.


When considering graduate school, it’s important to factor in both the cost of earning another degree and the time it takes to complete the program.


How Much Does Grad School Cost?

The average graduate school tuition is around $21,730 per year, but it varies based on the degree, location and whether it’s online. Ph.D. programs tend to be more expensive. UCLA offers affordable graduate tuition at $18,136 per year for California residents and $33,238 for non-residents.


How Long Does a Graduate Degree Take To Complete?

The time needed to complete a graduate degree depends on the program and your schedule. Most master’s degrees take 1–3 years full-time. For those balancing other responsibilities, many programs offer part-time options, self-paced courses, online formats, evening classes or accelerated tracks to suit busy professionals.



Networking Opportunities and Long-Term Career Benefits

One of the often-overlooked benefits of a graduate degree is the opportunity to build meaningful professional connections. Graduate programs connect you with:


  • Professors and mentors: Experienced educators can offer career advice, provide industry insights and serve as references.

  • Peers and classmates: Fellow students may go on to successful careers, creating a network that leads to future job opportunities.

  • Industry professionals and alumni networks: Graduate programs often facilitate networking events, internships and opportunities to connect with professionals in your field.


These relationships can be key to securing jobs, earning promotions, or starting a business. Over time, the professional network you build in graduate school can open doors that might otherwise stay closed. Plus, friendships in your field offer valuable professional advice and emotional support.



Specialized Skills Lead to Higher-Paying Opportunities and Career Advancement

A graduate degree creates career opportunities that aren't available if you have only completed your bachelor's degree. Unlike undergraduate programs, graduate studies allow you to focus on a specific area of expertise, making you more marketable and credible in your field.


Many high-paying jobs require a graduate degree, including:


  • Medical professionals: Physician, surgeon, dentist and pharmacist

  • Law and legal professionals: Attorney/lawyer and judge

  • Healthcare and therapy: Psychologist, advanced practice registered nurse (APRN) and physical therapist

  • Engineering and technology: Petroleum engineer, data scientist/AI specialist

  • Education and research: University professor and educational administrator (principal or superintendent)

  • Finance and business: Economist and investment banker

  • Science and environment: Biochemist and environmental scientist


Employees with master’s and doctorate degrees are highly sought after due to their advanced skill sets. Employers are willing to pay a premium for individuals who bring this level of expertise to the table.


Higher earning potential: Do you make more money with a graduate degree?

According to the U.S. Bureau of Labor Statistics, U.S. workers 25–34 with a master’s degree earned an average of $80,200 annually in 2022, compared to $66,000 for those with a bachelor’s degree. While it’s not the only reason to pursue further education, the salary benefits of having a master's degree are worth considering.


Credibility and job security

Specialization not only enhances your value in the job market but also provides a sense of security in an ever-changing economy. Employers value candidates with advanced degrees for their ability to take on complex challenges and drive innovation.



Why Should You Get a Graduate Degree?

A graduate degree can transform your career by providing specialized knowledge, advanced skills, and greater job security in today’s competitive market. Beyond higher salaries, it fosters personal growth, enhances critical thinking and offers opportunities to build valuable connections. Whether you’re aiming to boost your earning potential, advance your career, or gain expertise in a specific field, a graduate degree equips you with the tools to achieve your goals and reach your full potential.



Unlock the Benefits of a Graduate Degree with UCLA

If you’re looking to take the next step in your education and career, consider furthering your education with a graduate degree at UCLA.