17 Oct 2022

Is a Master’s Degree for You?

Globalisation has not only your expanded job options. You are now held up to a global standard as well, competing with talent around the world for coveted careers and jobs. As such, the educational benchmark has also risen, with degrees becoming a basic requirement. To compete, Singapore has been encouraging its people to foster lifelong learning as a principle, continually upskilling and expanding their skillset.

One option you have would be to pursue master’s degrees, but is that the right choice?

A master’s degree is a Level 7 qualification, making it one step behind a PhD. This fact highlights the value of the qualification, and having the degree demonstrates to employers the depth of your knowledge in that field.  Accordingly, a master’s degree expands your job prospects, can raise your starting salary and may improve your odds of promotion in the long run.

You also have good study options as Singapore is renowned as an education hub, with THE World University Rankings 2021 ranking both NUS and NTU within the Top 50. In addition, Singapore’s reputation for education makes it a popular choice for international students. Therefore, you could also interact with other cultures, network with other students and broaden your horizons.

There are also several other reputable universities and private institutions here which offer options such as accelerated degree programmes or double major courses, enabling you to fast track or bolster your education for better results. Despite this, acquiring your master’s degree is still no easy feat, and it will require time, money and effort on your part.

A master’s degree programme can easily cost a four or five figure sum. Fortunately, complementing the subsidies already available, certain courses are liable to be further subsidised and the Singapore government will continue to keep higher education affordable according to The Straits Times “10% rebate on NUS master's course fees, with extra 5% off for NUS graduates” article.

Along with the cost of the programme, you will have to dedicate a few years to your studies, leaving you little time to pursue your ambition. However, you also have the option to study part-time, and this can be productive for your career (and resume) by allowing you to work part-time as well.
All things considered; we recommend thinking of higher education as an investment for your future, one with a high initial asking price that provides you lifelong returns.