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episode 293: Why 40% of Master's Degrees Aren’t Worth It (and Which Are) w/Preston Cooper
A master’s degree shows quite simply that you’re a master (at least to some extent) in a certain subject. For decades, getting a master’s degree has been seen as a financially savvy move to open you up to higher pay, better job opportunities, and golden networking connections. But times have changed, and as more students see college as an inferior option to working, it begs the question: is a graduate degree worth the price?
You can’t know the answer unless you compile tens of thousands of pieces of data. Thankfully, we didn’t have to do that, we just invited Preston Cooper on the show to explain the research he and his team at FREOPP did. You may recognize Preston from his previous episode on the BiggerPockets Money Podcast where he mapped out which undergraduate degrees were worth it. Now, he’s back to show which master’s degrees have the highest (and lowest) ROI.
You’ll hear Preston answer questions like when is the right time to go back to school, which master’s degrees are fatal for financial freedom, and how students should go about choosing a degree or a combination of degrees. So, whether you’re pondering going back to school to get a degree in underwater basket weaving, horse training, or law, Preston has the data to help you make that decision!
In This Episode We Cover
Why different schools can have dramatically different degree ROIs
The best (and worst) master’s degrees to pursue
How degree combinations can help you make more money in a related career
When is the right time to pursue a graduate degree (after college or after working)?
The common misconception about MBAs and why most graduate business degrees aren’t worth the cost
The future cost of college tuition as admission rates drop and inflation continues to rise
And So Much More!
Links from the Show
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Hear Our Previous Interview with Preston on Episode 251
Check Out Preston’s Grad Degree and Bachelor Degree Study:
More FREOPP Higher Education Resources
FREOPP
Is A Master’s Degree Worth The Pay Raise?
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Check the full show notes here: https://www.biggerpockets.com/blog/money-293
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