5 Master’s Degrees That Don’t Pay

by Melanie

Did your master’s degree help you make more money? I am disappointed to say that my M.A. hasn’t helped me at all financially, even though I went to a “really good school”. I am actually making less money than I did when I just had a B.A. and now I have twice as much debt.  I am working in a much lower cost of living area, so pay is lower as well, but I was honestly hoping to start breaking into the $50k range. At this point, I can’t imagine that amount of money but I know it would be super helpful in paying off my debt and accomplishing my dreams. Earlier this year, I wrote a check to myself for the amount of $50,000, just to put that goal in the universe.  The number may seem arbitrary, but I know I could live well, pay off debt and continue to travel. I could also actually contribute to savings and retirement, which would make me feel more secure. Although my M.A. didn’t help me financially, it has opened up many doors, facilitated friendships and allowed me to live in New York for a while, which is still my favorite city. From a life perspective, it was an incredibly rich and vibrant time. Financially, it kinda sucked.

Is your degree on this list? Was your master’s worth it? Also, out of curiosity, what is your ‘comfortable-everything-is-alright’ salary?

Master's Degrees That Don't Pay
Source: BestMastersPrograms.org

Melanie
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9 comments

anna August 5, 2013 - 3:18 am

Really interesting infographic, though that’s disheartening that education and social work doesn’t pay out. I noticed with culinary arts, that my friends who have them (at least a degree, maybe not masters) get burnt out so quickly from the industry. Thanks for sharing this.

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deardebt August 5, 2013 - 3:32 am

It really is disheartening! 🙁 People that do the most important work, get paid the least. I can’t imagine working in a restaurant…I did a food service side hustle a week ago, and the standing, fast pace, repetitive motions are exhausting. I can see how it leads to burnout. Thanks for stopping by and commenting 🙂

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Troy August 5, 2013 - 11:23 am

I don’t have a masters. When I was a teen my father advised me not to get one (he has a Harvard MBA). He said that mba’s are all about case studies, and half of those case studies are useless. Plus, I work for myself, so I don’t need an MBA to get a job.

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deardebt August 6, 2013 - 6:51 am

You don’t need an MBA if you have a good job already!

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Connie @ Savvy With Saving August 5, 2013 - 6:43 pm

Interesting facts but sad at the same time. A lot of people think having more degrees will mean more money but it’s not always worth it. It varies so much depending on the degree and the field.

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deardebt August 6, 2013 - 6:52 am

More education definitely doesn’t mean money! I wish it did though. Totally depends on major.

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Michael | The Student Loan Sherpa August 6, 2013 - 12:22 am

It really is a shame how many graduate degrees don’t pay. The same problems apply to many undergraduate degrees as well.

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deardebt August 6, 2013 - 6:55 am

It’s terrible that the Bachelor’s is the new high school diploma, which prompts people to want to go back to school and get in more debt, because they think it will make them stand out. Work experience has always won out in my case.

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Magical Savings August 7, 2013 - 2:27 am

This is always really difficult to hear! I always wanted to go back to school for my Masters but it is almost a risk.

Reply

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