If you are thinking of getting a master’s degree in engineering then you might be wondering whether or not it will be worth it.
This post will show you whether or not a master’s degree in engineering will be worth it for you and some other things to consider.
So, is an engineering master’s degree worth it? This will depend on the type of engineering master’s degree that you want. In some fields, a master’s degree is absolutely necessary, in other’s it is not so important.
There are actually a number of things to consider when deciding on whether or not to get an engineering master’s degree and there are a number of alternatives that you might want to consider.
Job outlook
According to the Bureau of Labor Statistics, it is expected that there will be a total of 139,300 new jobs by 2026 when compared to 2016. You can look here to see how each of the different types of engineering jobs are projected to improve. This shows that there is a positive outlook for people with engineering degrees in the years to come.
According to Payscale, the average salary for someone with a master’s degree in engineering is $94,000 based on 532 survey respondents. This is $11,000 more than that of a bachelor’s degree in engineering (source).
This would suggest that getting a master’s degree can reasonably be expected to provide you with a positive return on investment. However, this will depend on a number of factors such as the cost of the master’s degree, the job placement rates of the college and the type of engineering master’s degree that you’re looking to get.
Something to consider is that, engineering is also a major that will give you good job prospects with just a bachelor’s degree. While getting a master’s degree will earn you $11,000 more based on the above. It is still the case that a bachelor’s degree will earn $83,000.
However, many of the better jobs will require a master’s degree. Getting one will also improve your long-term pay prospects. Although, this can be said for most majors.
Something to consider is that the average salary will vary depending on the specific field that you are intending to enter. You can look here to see what the median and average pay is for each of the different types of engineering degrees.
Also, the job progression and working hours will depend a lot on the specific field you want to enter.
Types of jobs that you will qualify for
The types of jobs that you will qualify for will, of course, depend on the type of engineering degree that you get and the classes that you take.
Examples of jobs that you will be able to qualify for could include:
- Senior electrical engineer
- Product engineer
- Structural engineer
- Senior mechanical engineer
- Chemical process engineer
- Software engineer
Types of engineering master’s degrees and classes
The types of classes that you will be taking in an engineering master’s degree will largely depend on the type of degree that you choose.
Possible engineering degrees that you could choose from could include:
- Chemical engineering
- Mechanical engineering
- Civil engineering
- Electrical engineering
- Engineering management
- Geotechnical engineering
Each of them will also have different specializations to choose from. For example, in electrical engineering possible specializations might include computer engineering or robotics.
Is an engineering master’s degree worth it if I have a bachelor’s degree?
While the data seems to show that getting a master’s degree will give you a positive return on investment in the long term it might not necessarily be the best option for you.
A bachelor’s in engineering can qualify you for many good jobs in its own right. If you are able to get a particularly high paying job with just a bachelor’s degree then it might be the case that opportunity cost might not be worth it for you.
It would help to consider how much the degree will cost you, how much you would be making without the degree and the placement rates of the college that you will be applying for.
It would also help a lot to consider the types of jobs that you want to get and what their entry requirements are. It would help to talk to hiring managers for their opinion if you can.
Something else to consider would also be that the longer you put off doing the master’s degree the lower the ROI will be and the more difficult it will be since you will have forgotten more material. If you are sure that you want to get a master’s in engineering it would help to do it sooner rather than later, most of the time.
How hard is an engineering master’s degree?
Something to consider is that getting a master’s degree in engineering will require a significant time commitment on your part and it won’t be easy to obtain.
Before deciding to do the engineering master’s degree it would help for you to be sure that it is the right degree for you and that it is really what you want to do.
How difficult the degree will be for you will depend largely on the amount of math and coursework you have done directly related to the master’s that you are looking to get.
If you are still an undergrad, it would help a lot for you to look at the classes that you would be taking in the master’s degree and to choose your undergrad classes accordingly.
Alternative degrees
If you are thinking of getting an engineering master’s degree then some other degrees that you might want to consider could include:
- Applied mathematics
- Physics
- Computer science
- Computer engineering
- Statistics
