Everyone knows a college education is a costly investment. This is no secret. The same is true for an advanced degree like a master’s, as well. This is why many people seeking a second degree are more interested in pursuing one that’s in an industry in high demand. A degree that’s in demand, more often than not, will provide a lucrative salary, even right after graduation. Even though getting any masters degree is a definite accomplishment, there are five Masters degrees that are currently in high demand. Many different factors determine which degrees are in demand, some factors are specific to the industry in which the master’s degree corresponds to, and there are some fields that remain in demand year after year; Often, demand and lucrative salaries go hand in hand. The workforce will continue to change, determining demand, as the technology and skills needed to stay abreast continue to change and grow. Most graduates understand this and enter the workforce knowing that what’s in demand today may not be five years from now.
Master of Science in Computer Engineering (MSCE)
Graduates in this industry combine both computer science and electrical engineering skills when they pursue a degree in Master of Science in Computer Engineering. To be specific, this field integrates both software and hardware design to create both individual systems and integrated systems. Robotics is also a focal area in this industry. IN addition, the computer science part of this degree program focuses on communication and computer language systems. Graduates can expect to enter this field earning a salary of at least 71K and as much as 120K, depending on the sector of the industry they join, as well as where they begin their career geographically. The demand for this degree is projected to continue to rise, largely, in part, because there are a wide variety of different positions that someone with this type of advanced degree can pursue. The career choices can range from software engineer to software developer, as well as a whole host of others.
Master’s in Operations Research
A Grad with a Master’s in Operations Research can expect to enter his or her field making $80K and $130K midway through his or her career. The demand for this field is projected to increase by 30% by 2024. Part of the reason for the demand in this field correlates to the constant changes in technology and the need for qualified people in this industry. In fact, employers prefer to hire people who have a Master’s in this field due to the nature of the job and all the advanced training they have had. Plus, the job itself requires someone with extensive knowledge and little need for extensive training.
Master’s in Electrical and Electronics Engineering (EEE)
A Master’s in EEE will land you a job, post graduation, with a salary range of $79K. Midway through your career, you can expect to be earning at least $129K. However, salaries can vary depending on the type of sector you are employed in. The demand for this job is steady however there is no projected increase in the demand for electrical engineers. This could have something to do with the decline in many manufacturing sectors. This field continues to be in demand although the demand is not projected to grow much. The lack of change in demand has more to do with shifts in the industry than the career itself.
Master’s in Taxation
The demand for graduates with a Master’s in Taxation will be shaped by education and experience because this is not a job with a lot of OJT training. This is perhaps one reason why graduates with this type of degree are valued by employers. Experience is an extra perk as well. Graduates in this field start their career earning $61K a year and can expect to make at least $129K midway through their career. The demand for this job may also be based upon the projected decline in the number of jobs in this field, according to the Bureau of Labor Statistics. This decline is projected to continue through the year 2024. However, job candidates with advanced degrees like a Master’s will be sought after for the positions that remain in the industry. This is based on all the specialized training that graduates in this field receive.
Masters of Computer Science MCS
A master’s degree in MCS can land you a lucrative income. Salaries in this field range from 80K to 105K. There is a constant demand in this field because technology is ever evolving and changing. This fact has also created many different professions that a MCS grad can pursue. This is a field with a lot of flexibility in terms of job variety. The world seems to embrace technology and all the things that are possible through innovations in this field, which is further proof that the demand for qualified individuals in this industry will probably always be there.
Technology, medicine, and computer science dominate most of the professions in demand. Careers in these demanding fields offer good starting salaries as well as lucrative salaries midway through a career. As a result of the demand and the lucrative salaries, these fields seem to be promising areas of studies to pursue. However, demand across different industries is constantly changing and evolving. Some of these changes occur quickly, others evolve slowly over time. Regardless of the pace, change is inevitable. Change dictates demand, more often than not. Students pursuing an advanced degree often question how their interest and their major will serve them in the real world. Many ask the same question. Will there still be a demand for their degree after graduation? This is an important question because the needs of the workforce are constantly evolving. However, many professions that are in demand to day, will still be in demand tomorrow or even five to ten years down the road.