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Master’s Programs Are Cash Cows for Universities. Do They Pay Off for Students?？
Master’s degrees have gained a reputation as “the new bachelor’s degrees,” a moniker that reinforces the idea that the degree is a path to higher wages.
Researchers have historically neglected to consider opportunity costs in their estimates of the value of master’s programs. New data released by the Foundation for Research on Equal Opportunity correct this mistake and present a more accurate picture of the value of master’s degrees.
Overall, master’s degrees have a positive return on investment (ROI). But the averages hide vast differences among fields of study and among programs in the same field of study.
Given the high stakes of program choice, policymakers have a responsibility to make easily available the ROI of master’s programs―and to use the most accurate version of that figure.
Researchers have historically neglected to consider opportunity costs in their estimates of the value of master’s programs. New data released by the Foundation for Research on Equal Opportunity correct this mistake and present a more accurate picture of the value of master’s degrees.
Overall, master’s degrees have a positive return on investment (ROI). But the averages hide vast differences among fields of study and among programs in the same field of study.
Given the high stakes of program choice, policymakers have a responsibility to make easily available the ROI of master’s programs―and to use the most accurate version of that figure.
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