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• Master’s vs PhD | A Complete Guide to the Differences

Master's vs PhD | A Complete Guide to the Differences

Published on November 27, 2020 by Lauren Thomas . Revised on June 1, 2023.

The two most common types of graduate degrees are master’s and doctoral degrees:

• A master’s is a 1–2 year degree that can prepare you for a multitude of careers.
• A PhD, or doctoral degree, takes 3–7 years to complete (depending on the country) and prepares you for a career in academic research.

A master’s is also the necessary first step to a PhD. In the US, the master’s is built into PhD programs, while in most other countries, a separate master’s degree is required before applying for PhDs.

Master’s are far more common than PhDs. In the US, 24 million people have master’s or professional degrees, whereas only 4.5 million have doctorates.

Table of contents

Master’s vs phd at a glance, which is right for you, length of time required, career prospects, costs and salaries, application process, other interesting articles, frequently asked questions about master's and phd degrees.

The table below shows the key differences between the two.

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A PhD is right for you if:

• Your goal is to become a professor at a university or some other type of professional researcher.
• You love research and are passionate about discovering the answer to a particular question.
• You are willing to spend years pursuing your research even if you have to put up with a lot of dead ends and roadblocks.

A master’s degree is the better choice if any of the following apply:

• You want to continue studies in your field, but you’re not committed to a career as a professional researcher.
• You want to develop professional skills for a specific career.
• You are willing to pay a higher upfront cost if it means finishing with your degree (and thus being able to work) much faster.
• You want the option to study part-time while working.

The length of time required to complete a PhD or master’s degree varies. Unsurprisingly, PhDs take much longer, usually between 3–7 years. Master’s degrees are usually only 1–2 years.

Length of a master’s

Master’s degrees are usually 2 years, although 1-year master’s degrees also exist, mainly in the UK.

Most of the degree consists of classes and coursework, although many master’s programs include an intensive, semester-long master’s thesis or capstone project in which students bring together all they’ve learned to produce an original piece of work.

Length of a PhD

In the US, a PhD usually takes between 5 and 7 years to complete. The first 2 years are spent on coursework. Students, even those who choose to leave without finishing the program, usually receive a master’s degree at this point.

The next 3–5 years are spent preparing a dissertation —a lengthy piece of writing based on independent research, which aims to make a significant original contribution to one’s field.

Master’s degrees tend to prepare you for a career outside of academia, while PhDs are designed to lead to a career in research.

Careers for master’s graduates

There are two types of master’s degrees: terminal and research-intensive. The career prospects are different for each.

Terminal master’s degrees are intended to prepare students for careers outside of academia. Some degrees, known as professional degrees, specifically prepare students for particular professions; these include the Master of Public Policy (MPP), Master of Business Administration (MBA), Doctor of Physical Therapy (DPT), Master of Fine Arts (MFA), and Master of Public Health (MPH) degrees.

Other master’s degrees, usually Master of Arts (MA) or Master of Sciences (MS or MSc) degrees, do not necessarily lead to a specific career, but are intended to be a final degree. Examples include an MS in Communications or MS in Data Analytics.

In research-intensive master’s programs, students take coursework intended to prepare them for writing an original piece of research known as the master’s thesis . Such programs are usually intended to prepare for further study in a doctoral program.

Careers for PhD graduates

As research degrees, PhDs are usually intended to lead to an academic career. A PhD can be thought of like an apprenticeship, where students learn from professional researchers (academics) how to produce their own research.

Most students aspire to become a university professor upon the completion of their degree. However, careers in academia are highly competitive, and the skills learned in a doctoral program often lend themselves well to other types of careers.

Some graduates who find they prefer teaching to producing research go on to be teachers at liberal arts colleges or even secondary schools. Others work in research-intensive careers in the government, private sector, or at think tanks.

Below are a few examples of specific fields and non-academic careers that are common destinations of graduates of those fields.

• Computer Science
• Lab Sciences

Many government jobs, including economists at a country’s central bank, are research-intensive and require a PhD. Think tanks also hire economists to carry out independent research.

In the private sector, economic consulting and technology firms frequently hire PhDs to solve real-world problems that require complex mathematical modeling.

Graduate students from the humanities are sometimes hired by museums, who can make use of their research and writing skills to curate exhibits and run public outreach.

Humanities PhDs are often well-suited to research and grant-writing roles at nonprofits. Since so much of research is funded by grants, PhD students often gain a lot of experience applying for them, which is a useful skill in the nonprofit sector.

There are a wide range of non-academic research jobs for lab scientists with doctorates in subjects like chemistry, biology, ecology and physics.

Many PhD graduates are hired by pharmaceutical companies that need to perform research to create and test their products. Government agencies, such as the Environmental Protection Agency (EPA), also hire lab scientists to work on research projects.

Job prospects after graduation vary widely based on the field. In fields like management, computer science, statistics, and economics, there’s little underemployment—even graduates from less well-known programs can easily find jobs that pay well and use the skills they’ve gained from the PhD.

However, in other fields, particularly in the humanities, many PhD graduates have difficulty in the job market. Unfortunately, there are far more PhD graduates than assistant professor roles, so many instead take on part-time and low-paid roles as adjunct instructors. Even non-academic careers can sometimes be difficult for PhDs to move into, as they may be seen as “overqualified”  or as lacking in relevant professional experience.

Because career options post-PhD vary so much, you should take the time to figure out what the career prospects are in your field. Doctoral programs often have detailed “placement” records online in which they list the career outcomes of their graduates immediately upon leaving the program. If you can’t find these records, contact the program and ask for them—placement information should play an important role in your choice of PhD program.

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Although PhDs take far longer to complete, students often receive a living stipend in exchange for being a teaching or research assistant. Master’s degrees are shorter but less likely to be funded.

Both master’s degrees and PhDs lead to increased salaries upon graduation. While PhDs usually earn a bit more than those with a master’s degree, in some fields, the wages are identical, meaning that no financial benefit is gained from going on to a PhD.

Cost of a master’s

The upfront cost of a master’s degree is usually higher than a doctoral degree due to the lower amount of financial aid available. However, increased salaries also arrive faster than with a doctoral degree, because people graduate much earlier from a master’s program.

Some master’s students do receive stipends for their degrees, usually as compensation for being a teaching or research assistant. In addition, many people complete master’s degrees part time while working full-time, which allows them to fund their living costs as well as tuition.

The cost varies significantly by school and program. Public schools are usually cheaper than private ones. Some master’s degrees, such as MBAs, are notoriously expensive, but also result in much higher wages afterwards that make up for the high cost.

The master’s wage premium , or the extra amount that someone with a master’s degree makes than someone with just a high school diploma, is 23% on average. Many universities provide detailed statistics on the career and salary outcomes of their students. If they do not have this online, you should feel free to contact an administrator of the program and ask.

Cost of a PhD

PhDs, particularly outside the humanities, are usually (though not always) funded, meaning that tuition fees are fully waived and students receive a small living stipend. During the last 3–5 years of a PhD, after finishing their coursework (and sometimes before), students are usually expected to work as graduate instructors or research assistants in exchange for the stipend.

Sometimes students can apply for a fellowship (such as the National Science Foundation Graduate Research Program in the United States) that relieves them of any obligations to be a teaching or research assistant. Doctoral programs in the US tend to be better funded than in the rest of the world.

Sometimes, PhD degrees can be completed part-time, but this is rare. Students are usually expected to devote at least 40 hours a week to their research and work as teaching or research assistants.

The main cost of doctoral programs comes in the form of opportunity cost—all the years that students could be working a regular, full-time job, which usually pays much better than a graduate school stipend.

The average wage premium for PhDs is 26%, which is not much higher than the master’s degree premium.

In the US, the application process is similar for master’s and PhD programs. Both will generally ask for:

• At least one application essay, often called a personal statement or statement of purpose .
• Letters of recommendation .
• A resume or CV .
• Transcripts.
• Writing samples.

Applications for both types of programs also often require a standardized test. PhDs usually require the Graduate Record Examination (GRE), which tries to measure verbal reasoning, quantitative, critical thinking , and analytical writing skills. Many master’s programs require this test as well.

Applying for a master’s

Master’s degrees programs will often ask you to respond to specific essay prompts that may ask you to reflect upon not just your academic background, but also your personal character and future career ambitions.

Northwestern University’s Kellogg Business School requires Master’s of Business Administration (MBA) applicants write two essays, one about a recent time they demonstrated leadership and the second about their personal values.

Who you should ask for your letters of recommendation varies by program. If you are applying to a research-intensive master’s program, then you should choose former professors or research supervisors. For other programs, particularly business school, current work supervisors may be a better choice.

Some professional master’s programs require a specific test. For example, to apply to law school, you must take the Law School Admissions Test, or LSAT. For business school, you must take either the GRE or the Graduate Management Admissions Test (GMAT).

Applying for a PhD

When applying for a PhD, your resume should focus more on your research background—you should especially emphasize any publications you’ve authored or presentations that you’ve given.

Similarly, your statement of purpose should discuss research that you’ve participated in, whether as an assistant or the lead author. You should detail what exactly you did in projects you’ve contributed to, whether that’s conducting a literature review, coding regressions, or writing an entire article.

Your letters of recommendations should be from former professors or supervisors who can speak to your abilities and potential as a researcher. A good rule of thumb is to avoid asking for recommendations from anyone who does not themselves have a PhD.

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A master’s is a 1- or 2-year graduate degree that can prepare you for a variety of careers.

All master’s involve graduate-level coursework. Some are research-intensive and intend to prepare students for further study in a PhD; these usually require their students to write a master’s thesis . Others focus on professional training for a specific career.

A PhD, which is short for philosophiae doctor (doctor of philosophy in Latin), is the highest university degree that can be obtained. In a PhD, students spend 3–5 years writing a dissertation , which aims to make a significant, original contribution to current knowledge.

A PhD is intended to prepare students for a career as a researcher, whether that be in academia, the public sector, or the private sector.

This depends on the country. In the United States, you can generally go directly to a PhD  with only a bachelor’s degree, as a master’s program is included as part of the doctoral program.

Elsewhere, you generally need to graduate from a research-intensive master’s degree before continuing to the PhD.

This varies by country. In the United States, PhDs usually take between 5–7 years: 2 years of coursework followed by 3–5 years of independent research work to produce a dissertation.

In the rest of the world, students normally have a master’s degree before beginning the PhD, so they proceed directly to the research stage and complete a PhD in 3–5 years.

A master’s degree usually has a higher upfront cost, but it also allows you to start earning a higher salary more quickly. The exact cost depends on the country and the school: private universities usually cost more than public ones, and European degrees usually cost less than North American ones. There are limited possibilities for financial aid.

PhDs often waive tuition fees and offer a living stipend in exchange for a teaching or research assistantship. However, they take many years to complete, during which time you earn very little.

In the US, the graduate school application process is similar whether you’re applying for a master’s or a PhD . Both require letters of recommendation , a statement of purpose or personal statement , a resume or CV , and transcripts. Programs in the US and Canada usually also require a certain type of standardized test—often the GRE.

Outside the US, PhD programs usually also require applicants to write a research proposal , because students are expected to begin dissertation research in the first year of their PhD.

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Should I Pursue A Master’s or A Ph.D.?

The first step in deciding on the right graduate program for you is to figure out which degree will best serve you—a master’s or a doctor of philosophy (Ph.D.). Here are a few factors to consider.

What are your career goals?

• Professional master’s: A good choice if you want to develop a particular skill set in order to practice a particular profession. This type of degree provides coursework focused on learning and practicing skills.
• Research master’s: A good fit if you want to gain expertise in a discipline and know how to teach it. A research master’s typically includes a research project or thesis and comprehensive exams in addition to coursework and provides experience in research and scholarship.
• Ph.D. (doctor of philosophy): Consider this option if your goal is to ground yourself in a body of research and develop the ability to add to that body of knowledge. Ph.D. study includes a major research project in addition to coursework, and a Ph.D. is the highest scholastic degree awarded by American universities. Contrary to common perception, career paths for Ph.D. graduates are quite varied, not just limited to academia. Ph.D. training helps you hones skills such as writing, research, teaching, data analysis, communicating complex topics—all of which can translate into many sectors, including industry, government, nonprofit, and entrepreneurship.

See career data for Duke graduate programs' alumni

How much time do you have to pursue a graduate degree?

Master’s degrees typically take two years to complete, while Ph.D. programs generally take five to seven years ( see Duke programs' time-to-degree ). That is a significant difference in commitment and opportunity costs. It might also play a key role in deciding which factors take higher priority as you evaluate a program. How does the length of the program fit with your career and family plans? How important is the surrounding community if you are going to be there for seven years instead of two? How long are you able or willing to go on a limited income while in graduate school?

How much can you afford to pay for a graduate degree?

Consider your personal financial situation (e.g., how much savings and student loans do you have), as well as how much financial aid you can get. Master’s and Ph.D. programs differ greatly in the amount of financial aid available. Ph.D. programs tend to offer significantly more financial support than master’s programs (but often will have research or teaching requirements). 

A typical Ph.D. financial aid package usually includes coverage of tuition and fees, a living stipend, and some level of support for health insurance for a set number of years. For instance, Duke’s standard Ph.D. package covers tuition, mandatory fees, and a stipend for five years, as well as health insurance premiums for six years. 

Within an institution, the level of financial support often differs across programs, so be sure to ask your specific program about the financial aid it offers. There are also many national organizations that provide competitive fellowships and scholarships for graduate students.

Know which degree you want to pursue? Here are some key things to look for in a program .

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Master’s vs. Ph.D.: What’s the Difference and Which One to Choose?

If graduate school is on your radar, one of the first things to consider is what type of degree you should pursue . While a bachelor’s degree is required for any postgraduate study, many people think you need a master’s to pursue a Ph.D., but that isn’t always the case. While there are benefits to receiving your master’s degree before your Ph.D., it’s not always necessary or required. However, there are important differences to note when deciding which type of program to apply to.

Master’s degree

A master’s degree usually takes about two years to complete full time. There are programs that allow a student to attend on a part-time basis, but that of course extends the completion time. Many master’s programs require a thesis to be completed, but not all. A thesis is a research project that is completed during the final year of a master’s program under the guidance of your program chair or advisor.

Under the master’s umbrella, there are quite a few specific degrees you can obtain. Your professional path will determine which of these you pursue.

• Master of Arts (MA) is given for disciplines in the arts and social sciences.
• Master of Science (MS) is given for sciences, health, engineering and statistics.
• Master of Research (MRes) is focused on training students to become researchers. This is advantageous to a student if they’re pursuing a research-based career or planning to apply for a Ph.D. program.
• Master by Research (MPhil) is similar to a MRes but is more advanced and focuses on research topics to be explored in depth. It’s often considered a precursor to a Ph.D. program.

Specialized master’s degrees

There are numerous specialized master’s degrees that are categorized by profession. These are often (not always) preceded by some professional experience prior to undertaking these types of advanced degrees.

• Master of Business Administration (MBA)
• Master of Library Science (MLS, MLIS, MSLS)
• Master of Public Administration (MPA)
• Master of Public Health (MPH)
• Master of Social Work (MSW)
• Master of Laws (LLM)
• Master of Education (MEd, MSEd, MIT, MAEd, MAT)
• Master of Engineering (MEng)
• Master of Architecture (MArch)
• Master of Fine Arts (MFA)
• Master of Divinity (MDiv)

Ph.D. (Doctor of Philosophy)

There are many Ph.D. programs and, in general, it’s considered the most advanced type of research degree you can obtain. Ph.D. candidates are required to complete a dissertation to obtain their degree. Unlike a thesis, a dissertation is longer and consists of original research conducted throughout the entire doctoral study. In some cases, students may be awarded a stipend, or pay, to complete the doctoral program and dissertation.

Ph.D.’s take a considerably longer time to complete than a master’s, five to eight years on average, and they carry a rather high rate of noncompletion due to time and financial commitments. Many Ph.D. programs have stipends available, so it’s important to inquire about that when researching a particular program.

Specialized doctorate programs

As with master’s degrees, there are several specialized doctorate programs specific to different disciplines and areas of study:

• Doctor of Business Administration (DBA)
• Doctor of Engineering (EngD/PhD)
• Doctor of Education (EdD/D.Ed)
• Doctor of Social Science (DsocSci)
• Doctor of Professional Studies (DProf)
• Doctor of Architecture (DArch)
• Doctor of Theology (Th.D)
• Doctor of Divinity (DD/DDiv)
• Doctor of Science STEM (Dsc/ScD)
• Doctor of Science Arts & Humanities (DLitt/LitD)

When deciding which one to get, consider your immediate or long-term career goals — which degree would serve you best? In some cases, you can obtain a Ph.D. with just a bachelor’s degree, but often it’s recommended you get a master’s first for the research experience that will be required for a Ph.D.

As with anything, there are exceptions. Students in law school obtain a J.D. (Juris Doctor) but can then further obtain a master’s in a sub-specialty like tax or immigration law. The health care occupations of physical therapist and pharmacist are also doctorate programs obtained post undergrad.

Making your choice

As with any decision, weigh your options, list pros and cons, and go from there. Once you’ve narrowed your options , you’ll have a precise list of programs and institutions generated for your specific goals.

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Master’s vs PhD — These are the Main Differences

Updated: July 18, 2022

Published: October 31, 2019

The consideration between earning a master’s vs PhD is not always an easy choice. While many careers and personal aspirations may be complete with just an undergraduate degree (Associate’s or Bachelor’s), a lot of people continue their higher education to obtain graduate degrees. These include a master’s and/or a PhD.

Neither a master’s degree nor a PhD is considered to be a walk in the park. Therefore, it’s useful to understand why you would earn either and then decide how far to go.

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Definitions: master’s vs phd.

Bost a master’s and PhD are defined as postgraduate degrees, but they require different commitments and styles of learning.

1. Master’s Degree:

Mostly all master’s degrees will require the completion of an undergraduate bachelor’s degree to enroll. They generally all share the same common requirement for a thesis or dissertation to graduate.

Earning a master’s degree through a taught program will result in the completion of a Master of Art (MA), Master of Science (MS), or Master of Philosophy (MPhil). For those who earn their master’s degree through research, they will earn a Master of Research (Mre), in a tailored field of study. There are also degree-specific master’s programs like Master of Business Administration (MBA) and Master of Education (M.Ed).

After earning a master’s degree, the next step is a PhD, which entails both working and performing research at an institution. A PhD is an abbreviation for “Doctor of Philosophy.” It is the highest academic degree one can achieve. As such, it is a time-consuming pursuit that requires a lot of studying and research.

You may be wondering, “Do you need a master’s to get a PhD?”

Technically, the answer is not always. Some students skip a master’s and go straight for their PhD, but they may lack research experience. While it could save money, the transition between a bachelor’s and a PhD is incredibly sharp. It may be harder to complete a PhD without the experience from a master’s.

Yet, some institutions may allow for the possibility to earn both your master’s and PhD in conjunction with one another. This will alleviate the transition between skipping a master’s and going straight to earning a PhD.

Should You Get a Master’s or PhD?

There are many considerations to factor when deciding between a master’s of PhD. For starters, it’s useful to consider the amount of time it will take, the cost, and the benefits and disadvantages of each. It is also of utmost importance to explore your own personal goals and reasons for wanting a graduate degree.

If your desired career of choice requires a PhD, like becoming a university professor, then you have your answer. If you want to start a business and benefit by networking while in school, a Master of Business Administration (MBA) could be a good idea. Consider what you want to pursue as a career and find out the requirements first.

Another useful thing to note is that a master’s degree can be used for a shift in careers. For example, if you attended college and earned a bachelor’s degree in humanities, but now you want to pursue science, you can still earn your master’s degree in a scientific discipline. On the other hand, a PhD is tailored to your field of study and specialty, so it will require that you are sure of your direction when you first earn your master’s degree.

Length of Time

A typical master’s degree program takes about two years full-time. However, there are accelerated programs that can be completed in just a year or so.

A PhD, in general, requires five to six years of studying, teaching, and research. However, it may even take some students up to eight or nine years to graduate. With this significant investment in time, it’s necessary to know if a PhD is right for you before starting.

The cost of both programs varies by institution and enrollment status of part-time versus full-time. However, since a PhD takes longer to complete, it will end up costing more. With that said, if you look into your return on investment, a PhD could end up yielding a higher salary, and therefore end up “costing less.”

Additionally, there is also the possibility of being paid to complete your PhD. Some students may receive an academic stipend, a university fellowship or apprenticeship or a reduced fee to earn their PhD while completing research (or teaching) at an institution. It’s also possible to get financial aid through a scholarship or grant.

As tuition rates continue to rise, it’s useful to look into alternative institutions for affordable education. For example, the University of the People offers a tuition-free master’s program in Business Administration and Education. This means you can study 100% online and graduate for less than the cost of most programs.

Weighing the Benefits

When comparing the two degree types, here are some benefits of each:

• Career-oriented
• Can open the door for more job opportunities
• Costs less than a PhD
• Takes less time than a PhD
• Helps you stand out from those with only an undergraduate degree
• You can perform research in your field of choice
• You become an expert in your field
• The prefix Dr. is added to your name
• You can teach in academia at the highest level

Required Commitment and Reasons to Pursue

Both a master’s and a PhD require a huge amount of hard work and utter commitment. You must be dedicated and motivated to complete either degree. Since most careers only may require a bachelor’s degree, having a master’s or PhD will set you apart from the competition. However, this should not be the sole reason to pursue either.

You may be wondering why would you earn either degree. Here’s a look at some motivational factors:

Reasons to Study for a Master’s

• Your career requires it (see next section)
• You want to advance your subject knowledge
• You want to experience graduate school and network with peers

Reasons to Study for a PhD

• You want to contribute new research to your field of choice
• Your career requires a PhD
• You want to earn the title of Dr.

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Required degrees by career.

Most people are motivated to pursue higher education because their desired careers require they do so. Here, we will break down those fields that require the completion of a master’s degree as it’s high on the list of reasons why to get one.

• Education Administration: To work as an administrator in an educational institution, you need to hold an advanced degree. A Master’s in Education (M.Ed) will provide you with the necessary knowledge and required skills to succeed in the field.
• Executive Level Business: A Master’s in Business (MBA) will not only place you ahead of the competition to land high-level positions in the field of business, but it can also be the jumping off point for becoming your own boss.
• Environmental Science: With issues in climate change and technological advancement, careers in Environmental Science are growing. As with most scientific careers, it requires a master’s degree where you will learn Applied Ecology, Environmental Policy, Environmental Chemistry, and more.
• Mental Health: To become a licensed practitioner and assist in mental health counseling, you will continue your education through a master’s degree in the field.
• Physical Therapy: Employers of physical therapists often prefer them to obtain a master’s degree in the discipline as the field is highly specialized.

Of course, some careers require a PhD. These careers are easy to spot because they have the prefix Dr. in front of them or the suffix like J.D. (Juris Doctor). To become a lawyer, doctor of medicine, veterinary medicine or psychologist/psychiatrist, you must obtain a PhD in the respective field.

Salary Differences Between Master’s and Ph.D. Graduates

According to a study performed by the Georgetown University Center on Education and the Workforce , the overall evidence shows that the higher the degree you have, the higher your salary potential. However, the differences vary by subject level and field.

In general, the expected lifetime earnings of those with each degree level is as follows:

• High School Diploma: $973,000
• Bachelor’s Degree: $1.3 million
• Master’s Degree: $2.7 million
• Doctorate Degree: $3.3 million

The Bottom Line

Aside from the financial cost and length of time, the opportunity to earn a master’s and a doctorate degree can offer several benefits.

However, it is an undertaking that requires a lot of dedication and motivation on behalf of the student. As such, it’s important to perform research on your desired career’s requirements, as well as your personal interest in pursuing either a Phd vs master’s.

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Master’s vs PhD/Doctorate Degrees – Key Differences

So, you are done with your bachelor’s degree but not with studying–according to the U.S. Bureau of Labor Statistics , this seems like a good idea. In its projections for the years 2019–2029, it lists 36 occupations that typically require a master’s degree and 63 requiring a doctoral or professional degree. The Bureau of Labor Statistics data also shows that the wages for these occupations are higher than the median for all occupations. 

Now you might wonder: What is the difference between master’s and PhD degrees and which one should I get? Read on for all the information you need to make this important decision!

Difference Between Masters and PhD: An Overview

A master’s degree is designed to teach you the knowledge and skills that you will need in your future profession. A PhD or doctorate degree, on the other hand, is designed to develop your critical thinking as well as your analytical and writing skills and is usually a years-long commitment to independent research on a specific subject. The purpose of a PhD is to prepare you for a career in academic research—although it can also help you get into a variety of other professions, and at a higher entry/salary level. In the US, a master’s degree is integrated into a PhD program, as a necessary preparation period involving mostly coursework, while in most other countries, a separate master’s degree is required to enter a PhD program.

If you want to stand out, you should definitely opt for a PhD degree: According to the United States Census Bureau , 24 million people in the US had master’s or professional degrees in 2019, whereas only 4.5 million had PhDs/doctorates. But is it worth the extra effort? And what exactly would the extra effort be? Have a look at the table below to get an idea about the key differences between master’s and PhDs.

Master’s vs PhD

Master’s or doctorate: which should you choose, how long does a master’s vs doctorate take to complete.

While the length of time it will take you to complete a PhD or master’s degree varies significantly between institutions and countries, we will focus on the US system here. Obviously, PhDs take much longer, because they are in fact a combination of both degrees and involve a long period of independent research that can get even longer than expected, depending on your topic, the available equipment or support, and a lot of other factors.

How long to complete a master’s degree

In the US, a full-time master’s degree takes students generally 2 years to complete, while part-time degrees are usually double the time.

How long to complete a PhD/doctorate

Since US PhD programs only require a completed bachelor’s degree, they start with an integrated master’s of 2 years of coursework, followed by 3–4 years of independent research into a specific topic. That usually includes publishing results, presenting at conferences, and preparing the final dissertation. Note that stipends/funding do not always cover the entire time it can take you to complete your PhD project—make sure you are aware of alternative options and additional funding at your institution or have at least thought about a backup plan before you start.

Master’s Degree Cost vs. a PhD Cost

Most people assume that PhDs are more expensive because they take many more years to complete. However, since PhD students usually receive scholarships or stipends, sometimes just for their commitment to full-time research and sometimes in exchange for teaching, the direct costs for a dissertation can be lower than those for a master’s degree. 

Additionally, while you are very likely to earn more with both degrees, the additional years of studying for a PhD should be factored into any estimation of costs vs outcomes.

Cost of a master’s degree

Master’s degrees at US universities can cost anything from $30,000 to $120,000, with tuition depending on the type of institution (public, private nonprofit, or for-profit). University rankings and general reputation also affect tuition costs. 

Whether an expensive degree (e.g., MBAs are often notoriously expensive) is worth the money for you personally depends on what kind of salary you think you can expect after graduating from that specific school. The universities you consider applying to should be able to provide you with data on the career and salary outcomes of their students, either on their website or if you contact them and ask for these details.

You can of course try to get a stipend and/or apply for a teaching or research assistant position at your school, depending on your undergraduate degree and experience. Moreover, many institutions offer the possibility to complete a master’s degree part-time, while working, which allows students to fund themselves.

You might also be eligible to transfer credits toward your degree if you have a professional certification or have earned graduate-level course credit—which can significantly reduce your total cost for both degrees.

Cost of a PhD/dissertation

PhDs, unlike master’s degrees, are usually funded, which means that tuition fees are waived and stipends or scholarships take care of living costs. Phd students are, however, often expected to take on teaching or research responsibilities in exchange for their funding. 

There are a variety of scholarships you can apply for if you want to pursue a PhD in the US as an international student—US-based ones like the Fulbright Foreign Student Program or the HHMI International Student Research Scholarships , but there are probably also funding opportunities in your home country for students who want to embark on a PhD abroad.

Pursuing a PhD degree part-time might sometimes be possible, but since students are expected to invest a full workweek into their research and potential teaching responsibilities, this is usually not realistic.

To estimate the overall cost of a doctoral program, the extra years that you could be working a full-time job with a regular salary also need to be factored into the equation—and take into account that projects may end up taking longer than expected, due to difficulties in collecting data, supervisors dropping out or moving on, or unforeseeable crises such as the COVID-19 epidemic.

Career Prospects for a Master’s vs PhD

While both a master’s and a PhD degree will qualify you for a variety of occupations that require higher degrees, they can also get you a higher salary in a profession that is also open to employees with a lower education level. PhD holders can in theory expect the highest wages, but since the two degrees prepare you for very different careers, that alone shouldn’t be what you base your decision on.

Master’s degree jobs and positions

Master’s degrees are overall more versatile than PhDs when it comes to employment opportunities and cover a wide range of fields and professions. The most common master’s degrees are the Master’s of Arts (MA) and the Master’s of Science (MS). 

Master’s programs can generally be divided into three different types:

Research master’s degrees, such as an MA in Comparative Literature or an MS in Biology, prepare students for academic and non-academic research disciplines and usually end with a thesis based on an original piece of research. In some fields, however, you are expected to enter a Ph.D. program after completing your master’s to be competitive when it comes to finding a job later.

Professional master’s degrees teach you practical skills and in-demand competencies that qualify you for a specific field and enable you to understand issues that are relevant in a certain profession. Examples include the Master of Public Health (MPH), the  Master of Business Administration (MBA), or the MA in Teaching (MAT). 

Terminal master’s degrees are the highest academic degree in fields where doctorates are not offered, and prepare students for careers outside of academia. The Master’s of Fine Arts in Creative Writing, for example, or the MS in Library Science are as high as you can go in those fields.

To give you an idea, below, we listed the 10 occupations at the master’s level that are projected to have the most openings annually from 2019 to 2029, according to the U.S. Bureau of Labor Statistics, and the highest-paying occupations for master’s degree holders without required work experience, based on projections from 2016 to 2026.

Master’s degrees, apart from helping you develop professional skills tailored to the requirements of the profession you intend to enter, can also serve as a stepping stone if you are already in employment and want to progress your career development, earn a higher salary, or change careers by learning new skills and subject knowledge.

PhD/doctorate jobs and positions

PhDs are usually intended to lead to an academic career, and many students aim to eventually become university professors. However, careers in academia are highly competitive, and there are not nearly as many professor positions as there are PhD holders. The good news is that the skills you learn during your doctoral program are often “transferable” and can be applied to other types of careers. 

Some PhD graduates end up (and enjoy) being colleague teachers, while others embark on non-academic research careers, for example at pharmaceutical companies, government agencies, consulting and technology firms, or think tanks. Job prospects vary widely across fields, with some—computer science, engineering, or economics—having very low unemployment rates, and others, for example the humanities, offering fewer and less desirable employment opportunities. Keep in mind, however, that someone with a PhD entering a different field or one that does not necessarily require a PhD may find that their degree sometimes does not help them or that they are even considered to be “overqualified” or as lacking practical skills and relevant professional experience.

Since there is no clear career path for PhD graduates, you should really take your time figuring out what field you want to work in later, what the career prospects for that field are, and if they are worth the time and effort you will have to invest to complete a PhD program. Your university should have data on the careers and salaries of their students, and should either display these details on their website or send you the relevant information if you contact them directly.

Master’s vs PhD: Application Process

The application process for master’s and PhD programs is overall very similar. In general, you will need to provide the following:

Frequently Asked Questions about Master’s vs PhD Degrees

How long does a master’s degree take vs a phd.

Full-time master’s degrees usually take 2 years to complete. Many universities offer the option to do a master’s part-time, which takes double the time. PhD programs in the US  start with an integrated master’s of 2 years of coursework (since you enter the program directly after completing your bachelor’s degree), followed by 3–4 years of independent research. 

Is a PhD harder than a master’s degree?

A PhD takes substantially longer and requires more self-motivation, organizational skills, and the willingness to carry on even when things do not go according to plan. You might also have other responsibilities, on top of your research, such as teaching or assisting your supervisor. But whether that is “harder” for you than a master’s degree that consists of mostly coursework and does not take more than 2 years depends on your interests and general working style. 

Is a master’s or doctorate better?

Master’s and doctorate degrees prepare you for different occupations and work positions, and which one is the right for you depends on what kind of career you are planning to pursue. Generally, a master’s degree is right for you if you want to deepen your career-oriented knowledge and skills for a specific profession, while a doctorate degree prepares you for a career in research, whether that is inside or outside a university.

Preparing Your Graduate School Essays

Now that you have figured out whether a master’s or PhD degree is the right choice for you, all that is left to do is to put your application together! Make sure that you focus on your chosen degree and its aim (research or a professional career) in all required documents—for example, highlight your professional and personal development in your CV for an MBA program, but the publication you got out of your bachelor’s thesis and how passionate you are about doing more research on the same topic for your application to a PhD program. 

As always, Wordvice can help with our professional Personal Statement Editing Services or Admission Editing Services , which help ensure that your application is error-free and showcases your full potential so that you get admitted to the graduate or doctoral program of your choice. For more academic resources on writing the statement of purpose for grad school or on how to request a letter of recommendation , head over to our Admissions Resources pages.

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Master’s vs PhD: Which Degree Is The Right One for You?

What is the right program for you? Master’s vs PhD: Meet the differences, the costs, prospects, and everything else you need to know.

Making the choice to pursue a graduate degree is a significant and frequently life-changing decision. Choosing between a Master’s and a PhD program, on the other hand, can be a challenging decision for many people. Both master’s and PhD programs provide advanced knowledge and expertise, but they differ in length, depth of study, and professional opportunities. 

Knowing the distinctions between these two programs might assist you in making an educated decision about which degree to choose. In this article, let’s go over the significant distinctions between Master’s vs PhD degrees, so you can better understand which program may be the optimal fit for your objectives and aspirations.

What are the main differences between Master’s vs PhD?

Which should you choose.

The decision between a Master’s and a PhD program is ultimately determined by your personal goals, interests, and career objectives. Here are some additional considerations to think about before making this decision:

• Time commitment: PhD programs generally require a greater time commitment than Master’s degrees, evaluate if you are willing to commit to a program for four to seven years.
• Personal goals and interests: Evaluate your own goals and interests, such as the desire to contribute to your profession, grow in your job, or obtain specific knowledge and abilities. 
• Funding: PhD frequently include financing possibilities, such as research assistantships or fellowships, which can help alleviate tuition and living expenses. While making your decision, consider whether financial opportunities are relevant to you.
• Aspirations for a career: Determine what sort of career you want to pursue after finishing your degree. A PhD may be required if you want to work in academia, research, or leadership. But, if you want to advance in your current career or pursue a position that does not need a PhD, a Master’s degree may suffice.
• Research: PhD programs place a heavy emphasis on research, so if you like performing research and are eager to contribute to your profession via original research, a PhD program may be a suitable choice.

Before deciding on a program, it is critical to acquire information and thoroughly analyze the different programs, as well as speak with existing students and professionals in your industry. Take your time and make sure you have all of the information you need to make an informed decision.

Understanding the costs

The costs of earning a Master’s degree and a PhD degree can vary based on a range of aspects, including the institution, program, and location. Tuition and fees are considerable costs for both degrees, with PhD programs sometimes costing more owing to their length.

According to Educational Data Initiative , a Master’s degree costs $62,650 on average, and a PhD degree costs $103,700 on average, however, this varies according to the institution, field, and duration of the program.

It is essential to carefully assess the costs of different programs and funding sources, as well as the possible return on investment for each degree. 

Career prospects for a Master’s vs PhD

Ultimately, both a Master’s degree and a PhD may lead to meaningful careers with diverse prospects for professional growth, income potential, and leadership roles.

Graduates with a Master’s degree can develop their careers in a specialized subject or explore a new professional path. The degree can lead to higher-level jobs and leadership positions in a wide range of industries. Furthermore, many countries and institutions need a Master’s degree before beginning a PhD program; in these circumstances, a Master’s degree might lead to a PhD.

A PhD is sometimes required for academic roles such as professor or researcher. PhD graduates are also well-prepared for research roles in government, non-profit, and private businesses. Nevertheless, PhD graduates may earn more than those with a Master’s or a Bachelor’s degree and it can qualify individuals for positions of leadership in research and development.

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Master’s Vs. Ph.D.: What’s The Difference?

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Most people have a pretty solid understanding of what a bachelor’s degree is, but master’s degrees and Ph.D.s can often be fuzzier for many.

In this article, we’ll go over each of these degrees and what each one entails.

Key Takeaways:

What Is a Master’s Degree?

A master’s degree – also called a graduate degree – is an advanced degree that people with an undergraduate degree can go on to obtain.

A master’s degree takes about one to three years to obtain. This can change based on the program you pursue and how many classes you take per semester, but the typical master’s degree program lasts about two years.

Again, the actual amount of time a master’s degree requires depends on the program you’re in, how much time you have to dedicate to your classes and research, and how smoothly your research goes, but most master’s degree programs are designed to take two years to complete.

A master’s degree requires a bachelor’s degree. This is the main prerequisite for starting a master’s degree. While some master’s programs require students to have bachelor’s degrees related to the graduate program, others don’t, allowing anyone with any area of expertise to enter as long as they meet the other qualifications .

One of these qualifications is often a passing score on a standardized graduate school entrance exam such as the GRE, GMAT, LSAT, or TOEFL.

A master’s degree mostly involves coursework with one to two semesters dedicated to research for a thesis and/or capstone project. This thesis or project (or combination of both) is a requirement for graduation and must be approved by and presented to the program faculty (called a defense).

While the student is working on this research, they’re usually taking classes as well.

A master’s degree can prepare you for almost any career. You can find people with master’s degrees in virtually any industry, and you can find a master’s degree program for a wide variety of interests.

Some people choose to pursue their master’s in order to build a more advanced and/or specialized knowledge base in their field or to open up opportunities in an entirely different field than they’d originally been working in.

What Is a Ph.D.?

A Ph.D. is a doctoral degree that many people pursue when they want to work in research or academia. It’s the highest degree someone can obtain.

A Ph.D. takes three to seven years to obtain. Usually, though, it takes closer to five to seven years to obtain a Ph.D. The length of time it takes you to finish a doctorate program will depend on the particular program, how much time you have to spend on classes and research, and how long your dissertation takes to research and complete.

A Ph.D. usually requires a master’s degree. Usually, your master’s degree has to be at least somewhat related to the Ph.D. program you’re trying to enter so that you have a solid knowledge base going into your research.

However, many programs combine their master’s degree and Ph.D. programs so you can start right out of undergrad and get it all done in one place. Sometimes these programs even take less time since they often require less research than two separate programs would.

A Ph.D. involves some coursework but mostly focuses on research for a dissertation. Generally, Ph.D. students spend just a few years on coursework and focus the majority of their time conducting research and writing their dissertations.

This is because their research generally has to be more original than many graduate program projects are and often requires them to obtain their own funding, which can take time.

In addition to a dissertation, Ph.D. students also may have to pass a comprehensive exam before they can graduate.

A Ph.D. can prepare you for a career in research and/or academia. If you want to continue conducting research in your field for a company or a university, or if you want to become a university professor , you’ll need a Ph.D.

As a result, many people obtain their Ph.D.s if they are interested in either of those options, even if they end up working in a regular job as part of their career as well.

Master’s Vs. Ph.D. FAQ

Can you get a Ph.D. without a master’s?

Yes, you can get a Ph.D. without a master’s. Many Ph.D. programs in the U.S. will accept students who have only earned their bachelor’s degrees. However, usually, this means that the Ph.D. program is a little longer than it would be otherwise, as it also includes the master’s degree requirements.

Many students still prefer this route if they know they want to get a Ph.D., as it often still ends up being shorter than it would be to obtain their master’s degree and then a separate Ph.D. You should only take this route if you’re very sure that you want to get your Ph.D., though, as it requires a significant amount of time and money.

Is a Ph.D. above a master’s?

Yes, a Ph.D. is above a master’s. A Ph.D. is the highest level of academic study, and a master’s degree is the second highest. Both are higher than a bachelor’s degree.

There are some master’s degrees, however, that are terminal degrees, which means there isn’t a higher degree than a master’s degree in that area of study. One example of this is a Master of Fine Arts (MFA). Because it’s a terminal degree, it’s considered similar to a Ph.D. in that field.

This is because a Ph.D. is a terminal degree in other fields of study and designates someone who has obtained the highest level of education possible in that field.

What are the four types of degrees?

The four types of degrees are associate’s, bachelor’s, master’s, and doctoral. An associate ’s degree typically takes about two years to earn and focuses on general education with a few specialized classes. These degrees are designed to prepare graduates to enter the workforce.

A bachelor’s degree usually takes about four years to complete and includes both general education and about two years of classes in the student’s chosen field. Typically, bachelor’s degree holders are eligible for careers in virtually any area, as well as many managerial and mid-level positions.

A master’s degree typically takes about two years to complete and includes both classwork and research in the student’s chosen field of study. Many students earn their master’s degrees because they want to take on an administrative or managerial role in the future.

A doctoral degree (which includes Ph.D.s) is a terminal degree for most fields, which means it’s the highest degree someone can obtain in that area. These degrees take between three and seven years to earn, and they focus mainly on research, although they have some classwork as well.

People who want to conduct research or work in academia often earn their doctoral degrees.

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Abby is a writer who is passionate about the power of story. Whether it’s communicating complicated topics in a clear way or helping readers connect with another person or place from the comfort of their couch. Abby attended Oral Roberts University in Tulsa, Oklahoma, where she earned a degree in writing with concentrations in journalism and business.

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Masters vs PhD – What’s the best degree for me?

In the US, a Master’s degree is not required for a PhD – unlike most European countries, where it is a prerequisite. Thus, in the US, deciding between a Master’s degree and a PhD can be a challenging question. By understanding the distinction, you can determine which program aligns best with your aspirations and goals. This article will provide insights into the structure, requirements, and outcomes of both degrees, helping you make an informed decision.

MASTER’S VS PHD DEGREE – WHICH IS BETTER FOR MY CAREER?

If you’re a recent graduate student looking to further your academic career, a Master’s degree might be the first step. But for those aiming for a career as university professors or to lead their own research group, pursuing a doctoral program to get a higher degree could be the better option.

Choosing the right degree program requires understanding the main difference of Master’s vs PhD.

WHAT IS THE DIFFERENCE BETWEEN A MASTER’S AND PHD?

The most important difference between Masters and phd programs is the focus and the duration.

A Master’s degree is designed as an advanced study in a specific field following a bachelor’s degree. It typically involves structured coursework, sometimes combined with research, resulting in a thesis or project.

A PhD, commonly known as a doctorate, is a research-focused degree regarded as the highest academic degree in higher education. This doctorate degree usually requires a dissertation based on original research.

This table that summarizes the key differences when considering Master’s vs PhD degrees:

HOW LONG DOES IT TAKE TO COMPLETE A MASTER’S OR A DOCTORATE?

A Master’s program typically takes one to three years to complete, depending on the type of degree and the field of study. On the other hand,  a PhD program can take anywhere from four to eight years , with the exact duration varying based on goals of the PhD candidates, the subject, the doctoral program’s requirements, and the time taken to complete the PhD dissertation.

IS A MASTER’S DEGREE A PREREQUISITE FOR A PHD OR DOCTORAL DEGREE?

In the United States, a Master’s degree is *not* required for a PhD. In contrast, in most European countries, a Master’s degree is a requirement for a PhD.

In the US , many PhD programs accept applicants with only a Bachelor’s degree. This is because PhD programs in the US typically include a Master’s component in the first few years. Students take coursework, complete research rotations, and pass qualifying exams before advancing to the dissertation phase.

In Europe , PhD programs are typically shorter, lasting 3-4 years. As a result, students are expected to have a stronger foundation in research before starting their doctoral studies. A Master’s degree allows students to develop their research skills, learn about their field of interest, and explore different research topics.

Here is a table that summarizes the key differences between PhD requirements in the US and Europe:

However, there are some exceptions to the general rule that a Master’s degree is required for a PhD in Europe. For example, in some countries, students with a four-year Bachelor’s degree may be able to apply directly to a PhD program. Additionally, some European universities offer joint Master’s-PhD programs that allow students to earn both degrees in a shorter period. However, these are structured to streamline the educational process and are often very competitive.

IS A SEPARATE MASTER’S DEGREE WORTH THE EFFORT?

In the US, a Master’s is not a prerequisite for a PhD because PhD programs typically include a Master’s component in the first few years.  Thus, a  separate  Master’s degree is probably not necessary in the US.  Most common Master’s degrees cater to professional fields, and a typical Master’s degree program is often designed to be a terminal degree.

In contrast, in most European countries, the discussion about a  separate  Master’s degree does not make sense because a Master’s program is required to reach the qualification for the PhD level.

WHAT’S THE FOCUS OF MASTER’S VS PHD: COURSEWORK VS RESEARCH?

A Master’s degree involves structured coursework which allows students to deepen their understanding of a particular subject . Some Master’s programs may also have a research component leading to a thesis.

In contrast, a PhD is primarily research-focused . While there might be some coursework in the initial years of study, the main focus is on independent research, leading to the creation of new knowledge.

Graduate programs in related fields like social work or clinical psychology may offer  specialized Master’s degrees , such as the Master of Social Work (MSW) or Master of Arts in Clinical Psychology, designed to build academic and professional skills.

If you’re wondering whether to take the next step towards a Master of Business Administration (MBA) or a Juris Doctor (JD), which are considered  professional degrees rather than research degrees , assess the degree level that aligns with your professional goals.

For graduate students who have set their sights on becoming doctoral students, PhD programs offer a deep dive into postgraduate study. However, degree requirements for graduate school can be pretty rigorous, especially for a specialized Ph.D. program.

The life of a PhD student is marked by hard work and a deep commitment to contributing original knowledge to their field. Typically, Ph.D. candidates spend their academic year fully immersed in research projects, including anything from scientific research in clinical psychology to molecular biology.

ADVANTAGES OF A RESEARCH MASTER’S DEGREE

Opting for a research Master’s degree, such as a Master of Science, allows for a combination of coursework and a research project, often culminating in a thesis.

This path can provide rigorous training programs in research methodology and data analysis, valuable for those considering eventual doctoral degree pursuits.

Additionally, for those questioning if a doctoral degree is a good investment of time and resources, a Master’s program may be a sensible interim step to gain further work experience and professional development.

IS A PHD THE HIGHEST ACADEMIC DEGREE?

Yes, a PhD (Doctor of Philosophy) is often regarded as the highest academic degree in many fields.

However, it is helpful to note that  a PhD is not universally the highest degree in all fields . For example, in professional fields like law and medicine, the  Juris Doctor (JD)  and the  Doctor of Medicine (MD)  are terminal degrees for professional practice but differ from a PhD.

Additionally, other degrees represent the highest level of professional achievement in their respective fields, such as the  Doctor of Education (EdD), Doctor of Business Administration (DBA),  or  Doctor of Engineering (EngD) .

In some cases, there are also specialized degrees that go beyond the PhD in certain fields. For example, the  Doctor of Science (ScD)  or  Doctor of Letters (DLitt)  may be considered higher or at least on par with the PhD, depending on the institution and country. These are often awarded for a substantial body of academic research and publication.

CAREER PROSPECTS AFTER A MASTER’S VS PHD DEGREE

It is important to consider how each degree can also shape your career in science. A Master’s degree can open up opportunities for higher salaries and specialized job roles that might require a deep understanding of a particular area. You also start earning earlier compared to a PhD candidate. For example, with a Master of Public Health, you might immediately enter the workforce in your specific domain.

A PhD prepares individuals better for a research career in academia or industry. However, many PhD graduates also pursue roles in consultancy or policy-making. Someone with a PhD entering a different field may find that their degree gives them an edge in research and analytical skills.

It is crucial to assess the career and salary outcomes of the respective degrees to determine which is the most suitable for you.

WILL A PHD HELP ME EARN A HIGHER SALARY?

Generally, individuals with a PhD tend to earn higher salaries than those with just a Master’s degree. The advanced knowledge, specialized skills, and research experience gained during a PhD program make individuals more valuable in the job market, leading to better job prospects and higher earning potential.

WHICH GRADUATE DEGREE PROGRAM IS MORE EXPENSIVE? MASTER’S VS PHD?

The cost of pursuing either a doctorate or a Masters degree is a significant factor. While a Master’s degree can also be costly, PhD programs often come with more opportunities for financial aid such as fellowships or teaching assistantships, which can significantly reduce your total cost.

Prospective students must research and compare the salary outcomes and potential debt of Master’s and doctorate degrees.

When considering graduate programs, financial aid is a significant factor. While the costs of a Master’s program can vary, many students take out student loans.

The cost of a Master’s degree can be offset by working as a research assistant, which helps financially and enhances practical skills and subject knowledge essential for a successful professional career in science. Similarly, doctoral programs often offer substantial financial support, such as stipends.

The availability and extent of financial support can greatly vary depending on the field of study, institution, and country. Not all doctoral programs offer substantial financial support, and some students may still need to rely on loans or personal funding. However, there are many  free or fully funded PhD programs .

The cost of tuition varies widely between institutions and countries. The duration of the programs can also affect the overall cost. Typically, a Master’s program is shorter in duration than a PhD, which might imply that even if the annual costs are higher for a Master’s, the total cost could be less due to the shorter time frame.

Finally, you must consider the indirect costs of graduate education, such as living expenses, which can vary widely and impact the  overall costs and duration of pursuing a graduate degree.

SCOPE AND DEPTH: MASTERS DEGREE THESIS VS PHD DISSERTATION

While both a thesis (usually associated with a Masters degree) and a dissertation (associated with a PhD) involve research, the depth and scope differ. A Master’s thesis focuses on a particular topic, offering a new perspective or a deeper understanding. In contrast, a PhD dissertation involves extensive research to create new knowledge or theory in the chosen field.

IS A CAREER IN ACADEMIA THE ONLY PATH FOR PHD GRADUATES?

No. While many with a PhD degree pursue roles in academia, others venture into the corporate world, non-profit sectors, and governmental roles. Industries that require specialized knowledge or research skills often value PhD graduates.

It’s worth noting that some sectors that do not require a PhD may find the expertise of someone with a doctorate advantageous.

FACTORS TO CONSIDER BEFORE APPLYING FOR A MASTER’S DEGREE OR A PHD

When deciding between a Master’s vs PhD, consider the following:

Your scientific career goals : Do you see yourself in academia or research?

Duration of study : Are you ready to commit several years to a doctorate?

Financial aspects : Can you support the cost of tuition or are there scholarships available?

Passion for research : A PhD will require intense, focused research. 

• Master’s degrees are typically coursework-focused with some research, while PhDs emphasize extensive research.
• PhDs generally take longer to complete than Master’s degrees.
• Career opportunities vary, with PhDs preparing individuals mainly for roles in academia and research, though other industries also value doctorate holders.
• Financial considerations are vital, with PhD programs often providing more financial support than Master’s programs.
• A passion for research and commitment to the subject are crucial for those considering a PhD.

Deciding whether to complete a PhD or Master’s degree varies greatly depending on personal career goals and academic interests. For a lot of people, graduate studies at the Master’s level provide sufficient qualifications for their intended career paths. However, if you aim to immerse yourself in academia or high-level research, a PhD is likely the better choice.

FREQUENTLY ASKED QUESTIONS (FAQ)

Which degree is right for me, a master’s or a phd.

Choosing between a Master’s degree and a PhD depends on your scientific career goals and personal aspirations. When considering an advanced degree, it’s essential to contemplate the significant differences between a Master’s degree and a PhD.

A Master’s program typically offers a structured path, often leading to a thesis-driven Master’s degree, which may be the best fit for students seeking to enhance their skills in a specialized area without the commitment to the long haul of a PhD study.

A PhD may be a better fit if you are interested in pursuing a research-oriented career or becoming a subject matter expert in a specific field. However, if you want to gain specialized knowledge and skills in a particular profession or industry, a Master’s degree could be the best choice.

WHAT ARE THE BENEFITS OF GETTING A PHD VS MASTER’S?

Earning a PhD offers several advantages. It allows you to  become an expert in a particular area of study  and opens up opportunities for advanced research and teaching positions. A PhD also enhances your critical thinking, problem-solving, and analytical skills. Additionally, individuals with a PhD generally earn higher salaries than those with a Master’s degree.

HOW LONG DOES IT TAKE TO COMPLETE A MASTER’S VS PHD?

The duration of a Master’s or PhD program varies depending on the field of study, research topic, and individual circumstances. On average, it takes around 1-3 years to complete a Master’s, while it takes around 4-7 years to complete a PhD, including the time spent on coursework, research, and dissertation writing. Several key factors  influence the duration of a doctorate .

CAN I APPLY FOR A PHD PROGRAM WITH JUST A BACHELOR’S DEGREE?

Typically, most European PhD programs require applicants to have a Master’s degree or its equivalent, while US universities accept candidates with only a bachelor’s degree because their PhD programs contain a Master’s component.

CAN I SWITCH FROM A MASTER’S PROGRAM TO A PHD PROGRAM?

Yes, it is possible to transition from a Master’s program to a PhD program. Many universities offer an option to apply for a PhD program after completing a Master’s degree. However, admission is competitive, and you will need to meet the additional requirements set by the PhD program, such as research experience and a strong academic record.

CAN I PURSUE A PHD IN A DIFFERENT FIELD THAN MY MASTER’S DEGREE?

Yes, pursuing a PhD in a different field is possible than your Master’s degree. However, switching fields may require additional coursework and research experience to bridge the knowledge gap. It’s essential to consider the specific requirements and expectations of the PhD program you are interested in.

WHAT IS THE DIFFERENCE BETWEEN MASTERS VS PHD PROJECTS?

In a Master’s program, the final project usually focuses on applying the knowledge gained during the program and demonstrating Mastery of the subject. In a PhD program, the emphasis is on conducting original research that contributes to the existing body of knowledge in the field. A PhD project typically involves a more comprehensive and in-depth study.

WHAT ARE THE CAREER OPPORTUNITIES AFTER COMPLETING A PHD?

Completing a PhD opens up a wide range of scientific career opportunities. Graduates with a PhD often pursue careers in academia as professors or researchers. The path to become a professor is long, thus, reflect carefully whether it is worth it to become a professor.

PhD graduates can also work in research and development roles in industries, government agencies, non-profit organizations, and consulting firms. Additionally, a PhD can lead to leadership positions in various sectors and provide opportunities for entrepreneurship.

ACKNOWLEDGMENTS

I have used AI systems, including Grammarly, Google Bard, and ChatGPT, to enhance the English and comprehensiveness of this article. This post may contain affiliate links, meaning I get a small commission if you decide to purchase through my link. Thus, you support smartsciencecareer at no cost to you!

RECOMMENDED READING

The following articles may also interest you:

• Free PhD programs versus fully funded PhD programs
• How long does it take to complete a doctorate?
• Does medical school ranking matter?
• Is being a professor worth it?
• Should I choose a big or a small university?
• Pharmacologist salary vs pharmacist salary – who earns more?
• Should I Become A Professor? Success Rate 3 %!
• Job interview outfits in science – what to wear?

Sven Hendrix is a Professor of Neuroanatomy at Medical School Hamburg (MSH) in Germany. He leads a research group dedicated to the neuroimmunology of brain repair and the development of xenofree organoid models as alternatives to animal experiments. Additionally, he serves as the speaker for CENE, a center focused on academic career development across MSH, Medical School Berlin (MSB), and the Health and Medical University (HMU) in Potsdam and Erfurt, Germany.

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The Savvy Scientist

Experiences of a London PhD student and beyond

Masters vs PhD: Which is Right For You?

PhD or Masters? It’s a tricky choice to make! There’s no one simple answer as both can be great choices and there are several angles to consider. In this post we’ll look at the differences between the two and compare various factors to consider when deciding between a Masters vs PhD.

Note – This post was a reader request. If you’d like me to cover any particular topics let me know here .

Key Differences Between a Masters and a PhD

Before we delve into the details of what factors to consider in your decision, here is a brief summary of the main differences between Masters and PhD programmes:

• Typically 1 year long (in the UK)
• You’re part of a cohort with course mates studying the same things as you
• There are different types of Masters: MRes, MSc, MEng etc. Sometimes they’re fully “taught” (i.e. all lectures and exams). Other times they’re “research” (lectures and a research project) or a mixture of both. Look at the syllabus of Masters courses you’re considering for details
• They cost money – unless you manage to secure a scholarship
• 3-4 years long in the UK (and longer elsewhere)
• Always involve a significant research component: that’s all they are!
• Typically you’re not part of a cohort, the exception are CDTs (details here )
• Although PhDs cost money, it is not normal for STEM PhD students to personally pay for a PhD. Usually you’ll get funding which covers the fees plus pays a nice tax-free stipend. See my whole analysis of how PhD stipends compare to grad salaries

Factors to consider when deciding between a Masters and a PhD

Now let’s dive into some specific comparisons of a Masters vs PhD:

• Financial cost
• Potential salary boost
• Opportunity gain
• Opportunity cost

Masters vs PhD Cost

How much does a masters degree cost in the uk.

For Masters courses in the UK there are typically both tuition fees and bench fees. Bench fees are for covering costs involved with practicals and research experiments, including consumables and training.

In the UK, if you’re a home student you’ll often pay upwards of £11,500 for tuition fees. Overseas students may get charged £21,800 or higher. Bench fees can vary a lot, typically they may be around £5000.

The course page will usually list the cost of the Masters pretty clearly, see this example from Bristol:

In addition you will have living costs on top of these fees. You’ll therefore have to budget for all of this ahead of starting the Masters unless you’re planning to work while studying. If so, here are some ideas I put together for ways to make money as a student .

There are sometimes bursaries and scholarships available for Masters students so do look at your options. The university website should list the main funding options available to you. However in my experience the majority of Masters students tend to self-fund or take out a loan.

How much does a PhD cost in the UK

In theory a PhD would incur bench fees like a Masters. Yet unlike with Masters degrees, it is pretty rare to self-fund a PhD, at least in the sciences. Instead it is normal for prospective PhD students to try and secure funding.

Usually PhD students will only embark upon a project once funding has been secured for the duration of the project: often 3.5 years.

Typically a PhD student will secure funding both to pay for the university fees, plus a stipend to cover their living expenses. For the 2021/2022 academic year a typical annual PhD stipend is £15,609 per year outside of London, or £17,609 per year in London. To be clear: this is money you get paid for doing the PhD, not that you have to pay! On top of the stipend all other costs relating to the PhD also get covered by the funding body.

If you want to find out more about PhD funding, see my separate relevant posts here:

• How to Find PhD Funding in the UK
• PhD Student Salary in the UK: Comparing a PhD Stipend to a Grad Salary

I lived pretty comfortably on this kind of amount of money in London, so it’s certainly possible!

Masters vs PhD Potential Salary Gain

If you’re considering a Masters or PhD to help you climb the career ladder more quickly, you may be wondering how much they could each boost your salary.

Whether or not a Masters or PhD is worth it for the potential salary gain really depends on what job you’re looking to go into. Generally, yes, the more highly qualified you are the more money you may be able to earn:

If you’re looking to boost your earning potential, from these US figures someone with a Masters could expect to earn approximately 18% more than someone with just a Bachelors degree. Furthermore, someone with a PhD may be able to earn 43% more than just a Bachelors. Therefore, on average PhDs earn 21% more than people with a Masters. There are loads of caveats though and this figure isn’t really comparing a like-for-like situation.

As a rule of thumb: if you’re going into a technical job, especially one requiring specialist knowledge you pick up from your studies, then you’re more likely get rewarded for your extra degree(s). Also notice how in the above figure across all workers the unemployment rate is lowest for those with PhDs. The unemployment for those with a Masters vs a PhD is 73% higher.

For certain companies and roles the more highly qualified you are the more they’ll reward you with a higher salary. Other companies, especially ones which wouldn’t utilise the skills from your degree, won’t pay you any higher than someone with a Bachelors degree.

There may be certain professions where getting a Masters or PhD are really beneficial for boosting your salary but I’d urge caution if this is your primary motivation for earning one of these degrees. This is especially true if you consider that instead of earning an extra degree you could spend your time gaining work experience on the job.

Consider looking up different potential employers you may be interested in working for to get a sense of whether your extra qualifications could secure you a higher salary. If the company is transparent with sharing salaries for different pay grades then you may be able to find details on their website. If not I suggest looking on glassdoor .

Masters vs PhD Opportunity Gain

What opportunities open up to you by doing a Masters vs a PhD? How beneficial could either be for your career? We’ll consider categories:

Technical knowledge

• Lab experience

Independent thinking & problem solving

Student life.

The obvious benefit to doing either degree is that you’ll gain expertise and knowledge in a certain technical topic. Not only may this be interesting to you in its own right but the degree can be used to demonstrate your technical know-how for your upcoming career. Either degree could help with your career prospects and enable you to potentially expand your horizons and go and work abroad. Though this depends a lot on your field and specific situation!

There is a quite obvious tradeoff between breadth and depth of technical knowledge between a Masters vs PhD.

A Masters degree is considerably shorter than a PhD, therefore your opportunity to pick up deep technical skills across the period of the programme is likely to be lower.

However, it is worth noting that Masters courses involve lectures, whereas in the UK PhDs don’t. Therefore it may actually be the case that with the Masters you’re picking up knowledge more quickly than the PhD. This does of course depend a lot on the skills you want to learn and how you work. Plus, you can sometimes go to lectures if you want as a PhD student. I’d say this one is a draw.

Practical lab experience

If you do a Masters involving a research project you’ll likely spend at most 4-6 months of the year in the lab. With a PhD you’ll spend considerably longer!

In the first year of a PhD you can try out different things and with the following years of a PhD you’re learning things at a much deeper level than a Masters. Though again, this depends quite a bit on what you’re trying to learn and why. For a lot of purposes you may gain enough practical experience in just a Masters project.

With either degree I think you’ll have ample opportunities to pick up new skills and challenge yourself to think independently.

A Masters is usually a little more like a Bachelors degree. By this I mean, besides your research project, the course leaders will be setting pretty well defined questions which often come with relatively well defined answers. When it comes to conducting research (for either degree) you’ll of course be answering questions for the first time and usually this will require some problem solving.

Compared to a PhD project a Masters research project is much smaller in scope and well defined. Plus, you’ll typically be paired with a more senior lab member (PhD student or postdoc) which doesn’t often happen for PhD students. There are also sometimes group projects for Masters degrees which adds another useful skill to the mix.

A PhD is the ultimate test of independence and problem solving. A lot of us see this as a fun challenge but bear in mind the importance of having a supporting supervisor. I wrote a separate post about choosing a PhD project and supervisor .

Masters Networking Opportunities

One perk of a Masters degree compared to a PhD is that you’ll always have a group of course mates with you. Not only can this be reassuring and give you social opportunities, it also means that you can network with like-minded individuals who are interested in the same topic as you. It is very easy to see how this could lead to starting a company with a course mate or business relationships later in your career.

PhD Networking Opportunities

PhDs on the other hand may be more solitary. It really depends on the group and department you join. If you join a small group with very few other PhD students it could be a much less exciting, and potentially more difficult, environment to be doing research in. Plus less people to bounce ideas off of and network with.

Some departments are very good at putting on social and networking events for their PhD students. Others less so. My PhD involved working in two different departments and each took very different approaches. One department had an annual research day and several parties throughout the year specifically for their PhD students. On top of that were lecture series’ plus Christmas and Summer parties for the whole department. The other department organised practically nothing.

PhDs do afford you more time to build connections with other researchers in the department and collaborations with other universities and institutions. In my PhD I spent time working with two other research groups in London (at UCL and the Royal Veterinary College) as well as the Natural History Museum. I doubt I’d have formed these connections through doing a Masters.

Whether it be a Masters or PhD, remember that you’ll be a student again. Therefore for either degree you can attend all student events on campus, join clubs and societies at the students’ union which could bring with it many opportunities to enrich your life. Of course a PhD gives you more time to enjoy these benefits!

Whichever degree you decide to go for, see my post about making the most of opportunities !

Also if you’re interested, I wrote: Do PhD Students Have a Social Life? Sharing My Experiences Making Friends and Avoiding PhD Loneliness

Masters vs PhD Opportunity Cost

The main opportunity cost I can think of for either is the length of time that they take. If you’re trying to decide between a Masters or PhD, or perhaps even aren’t sure about doing either, I suggest thinking about what you’d otherwise be doing and what you’d like to do afterwards.

There is no getting around the fact that a PhD takes longer to complete than a Masters. Maybe that extra time spent deep in research is well spent, or maybe you’d be better off just doing a one year Masters degree and using that remaining time to progress a career in industry, start a business or make the most of some other opportunities.

It will come down to why you’re interested in doing either degree in the first place and what you’re hoping to do with your life afterwards.

If you enjoy research but are worried that a PhD would take too long, I don’t think you should worry too much. Firstly, I think enjoying research is reason enough to do a PhD. Secondly, in comparison to your whole career a PhD doesn’t really take up much time.

I don’t think that the time you’ll have spent doing a PhD would ever meaningfully take away from other things you could do with your life:

See my whole post about how long a PhD takes .

Masters vs PhD Difficulty

How hard is a masters.

I can’t speak for all Masters courses! How difficult you’ll find a Masters will depend a lot on the specific course and how different the topic is to your undergraduate degree. Of course if you’re jumping to a different field than your undergraduate degree you’d expect to find the Masters challenging!

What I can say is that there can be a lot of content to try and cram in during a one year Masters. The pace can be fast and there isn’t much time for you to digest the content before getting assessed on it. You have to be able to learn quickly and juggle lots of things going on at once, with regular assessments throughout the year. This is all in stark contrast to the PhD where you’ll usually have ample time to ensure you understand a concept well and there are few formal assessments to deal with.

How difficult is a PhD?

A PhD involves working independently on your own project for the whole duration of your studies. With this comes having to solve problems yourself and find the motivation to keep going with the project for several years. There is a component of luck as to how your project pans out but it is safe to say that a lot of people do go through difficult parts of their PhD related to these issues.

There are very few formal assessments throughout a PhD. Typically at around 9-12 months in, then 18-24 months in there are intermediate checkmarks and then the big one, the viva, right at the end. On the upside this means that you don’t need to worry about getting assessed on assignements or exams like with the Masters, but on the flip side it can be difficult to figure out how well you’re doing.

From what I’ve observed, some people who have difficulties during the project often face them because of a poor relationship with their PhD supervisor. I personally didn’t find my PhD hard, but that in part comes down to enjoying the content, having good supervisors and treating it like a 9-5 job. No you shouldn’t need to dedicate all your evening and weekends to it, and it doesn’t need to be a hellish experience.

Yes this is anecdotal but I also worked with many other postdocs and PhD students who shared their experiences with me. Also check out the PhD Profiles series for more insights.

See my much longer analysis about PhD difficulty here: How Hard is a PhD?

Masters vs PhD: What did I do?

My own path from undergrad to PhD was made slightly more simple because I did a combined four-year undergraduate engineering degree which took me straight to a Masters qualification (MEng). Even so, I still wasn’t exactly clear on whether I wanted to a PhD or what topic it might be in. Therefore after graduating I worked for a few years whilst also putting out applications:

This gave me an opportunity to build up my experience and work in different fields, all while getting some more research outputs which were useful for PhD applications. If you want to read more about my journey, check out my PhD profile here . While you’re there, look at other PhD students’ journeys in the other PhD Profiles too.

Whether you should do a Masters or PhD really comes down to: why are you interested in further study?

I would urge caution in getting extra degrees just to try and boost your salary. There are cases where this can pay off but consider what other work experience you could be getting outside of the university. A Masters for example will typically cost you money, whether it be eating up savings or through a loan, so do think carefully if you’re doing the degree for financial reasons.

If on the other hand you’re motivated to take on either degree because you’re interested in the topics and simply want to learn then go for it!

A Masters can be a nice introduction to a field, especially if you’re transitioning from a different Bachelor’s degree. Having lectures covering a wide variety of topics can get you up to speed and you can spend a few months on a research component if that’s what you fancy.

If you actively enjoy doing research and like the idea of spending three or four years exploring one topic then doing a PhD could be a nice option. Though I would suggest that for many people a PhD may be overkill and that for most career purposes a masters is probably enough!

If you’re wondering whether or not you need a Masters to do a PhD, see my separate post exactly about that topic here: Do You Need a Master’s To Do a PhD? TLDR: No you don’t necessarily need one in advance, and CDTs are another option to consider which combine the benefits of both . See details about CDTs here . If you are interested in research, and already know what kind of topic you’d like to spend several years studying, then I’d consider applying for a PhD without a Masters.

I know it can be difficult making these choices. Remember though that you don’t need to rush your decision. There is nothing wrong with working for a few years then coming back to do a Masters or PhD. That is what I did!

It might feel like you need a clear plan but you really don’t so please don’t let it stress you out too much! Whatever you decide I wish you all the best for your career.

I hope this post has been useful if you’re trying to decide between a Masters vs PhD! If you have any other questions, feedback or suggestions be sure to let me know and I’ll try my best to help.

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4 Comments on “Masters vs PhD: Which is Right For You?”

Great article! I completed my MEng in Mechanical from Cardiff in 2018 and am now looking for an Industrial PhD (I think it’s also known as an EngD or DEng?). As I’d like to pursue an academic role in future but after a PhD I’d like to go into industry to really test the knowledge I gain (or maybe start a company).

I’d like to learn more and become a specialist who really understands and grasps all aspects of Mechanical Engineering. Plus, I really like the calculation side of things, but have had difficulty finding jobs, so I think a PhD would be a significant benefit to me. Though, I found it interesting that you state that having a PhD doesn’t increase salary expectations necessarily; I thought salary rise would be a bonus (from other articles) but I guess this depends on the companies that appreciate PhDs and whether you apply to the right ones.

Do you have an article showing how to make your PhD applications stand out?

Keep it up!

Kind regards, Y

PS Just a minor detail the last section on which is right for you (first line) has a typo: Masters of PhD… should be Masters or PhD.

Thanks very much for your comment and for pointing out a typo! Hey, mech eng MEng and Cardiff, nice! Yep I’ve known people doing EngDs and they look like a nice option.

As per the bar chart in the article, on average a PhD leads to higher salaries but in the article I wanted to temper salary expectations and make it clear that it is not necessarily a great idea to do a PhD if earning more money were the main motivation: not only may a PhD prove frustrating if someone doesn’t actually enjoy the research but it’s also pretty inefficient since in a lot of cases simply spending those 3-4 years gaining experience in a job could likely lead to equivilant or larger promotions over that period. Yeah it really depends on the company and industry. As per the article you could have a look at the companies advertising positions in a subfield of mech eng you’re interested in and check the candidate requirements and associated compensation to get a sense of what a PhD could add.

An article I’m actually currently drafting for June is about how I managed to get a PhD scholarship which includes lots about making your application stand out, so I suggest check back later in the month!

Best wishes and good luck,

By the way I forgot to add that each candidate in the PhD Profiles series answers the question of what made their PhD application stand out, you can find the series here: https://www.thesavvyscientist.com/category/phd-profiles/

Thanks Jeff, I think I’ve got a lot of research to do as I’m quite open as to what I want to apply to. After reading your profile I think I have a similar interest in the medical field as I did a placement at Olympus medical and really enjoyed it. Plus working with professional engineers to a specific deadline is quite fun. I might choose to go a similar route to you by emailing the scientists/engineers who are running the PhD(s) I’m interested in and getting work experience until I’m certain of the topic I want to explore. There’s just so many options! Thanks for writing these blogs! Kind regards Yusuf

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Master’s vs. PhD – Which Degree is Right for Me?

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Deciding between pursuing a master’s degree or a PhD is a crucial step in one’s academic journey within graduate school . While both options offer advanced education and research opportunities, they differ in terms of scope, duration, and career outcomes. Deciding between a master’s and a PhD in graduate school? In this guide, we will explore the distinctions between master’s and PhD programs, helping you make an informed decision about your academic path.

Inhaltsverzeichnis

• 1 Master’s vs. PhD – In a Nutshell
• 2 Definition: Master’s vs. PhD
• 3 Master’s vs. PhD: Time requirements
• 4 Master’s vs. PhD: Career possibilities
• 5 Master’s vs. PhD: Tuition fees
• 6 Master’s vs. PhD: Applications
• 7 Master’s vs. PhD: Making the decision

Master’s vs. PhD – In a Nutshell

Master’s vs. PhD comparison table:

Definition: Master’s vs. PhD

A master’s degree combines taught elements with research. Coursework includes assignments, exams, and a research project or dissertation.

A PhD is research-based and focuses on a single topic. PhDs are awarded after submitting a written thesis and passing a viva (oral test).

Master’s vs. PhD: Time requirements

Next, we look at the time requirements for master’s vs. PhD, so you can get a more accurate idea of what’s involved.

Master’s program length

In the UK, full-time master’s degrees take 1 – 2 years , versus 1.5 – 2 years in the US. In some countries (like Sweden), certain master’s take considerably longer: Up to 5 years for Computer Engineering or 6 years for Medicine.

PhD program length

In the UK, a full-time PhD takes 3 years. In most countries, the average duration is 3 – 4 years , except for the US and Canada, where it’s a minimum of 4 years.

Master’s vs. PhD: Career possibilities

This section explains how postgraduate studies can expand your career possibilities, comparing master’s vs. PhD.

Careers for master’s graduates

Master’s are career-focused degrees, so they can help you advance in your career and specialize in an area if you choose to.

A master’s can prepare you for a specific job or qualify you as a “generalist”.

• An example of the former would be a master’s in Counselling .
• An example of a degree that allows you to apply for a range of different jobs would be a master’s in English Literature .

Salaries for master’s graduates:

Below are the average salaries for Master’s graduates in the careers mentioned above.

• Counsellor: $74,500 / £51,000
• English teacher: $73,000 / £54,000

Careers for PhD graduates

PhD graduates can work in academia , where they can teach at universities to give lectures, supervise master’s or PhD students, mark essays and exams, and publish original work.

You can move up the academic ladder and become a professor . This requires extensive teaching experience, having a large body of published research, participating in conferences, and being active in faculty or department committees.

PhD graduates who don’t want to work in academia have other options.

• A PhD in Chemistry could take a position in a laboratory.
• PhD graduates in Economics could work on research projects for banks.

Salaries for PhD graduates:

Below are the average salaries in USD and Pounds for master’s graduates in the careers mentioned above.

• Lab Manager: $108,000 / £61,000
• Banking research analyst: $139,000 / £71,000

Master’s vs. PhD: Tuition fees

Tuition fees can be costly when choosing a master’s vs. PhD. The following section will help you make a decision between a master’s vs. PhD based on their cost.

Master’s tuition fees

Fees are typically higher in master’s vs. PhD. This is because there’s limited financial aid for master’s degrees since master’s students are usually self-funded.

• For a master’s in Management, typical tuition fees for public universities go from $30,000 to $120,000 / starting at £8,000 for British students and can go up to £30,000 for international students.
• Typical tuition fees for private universities in the US are similar to fees in public institutions. In the UK, they start at £22,000.

Some universities offer scholarship opportunities that cover tuition fees. The most well-known scholarships are:

• DAAD (Germany)
• Fullbright (USA)
• Mext (Japan)
• Gates Cambridge (UK)

PhD tuition fees

PhD tuition fees are typically waived . Students receive a small stipend that covers living expenses in exchange for working as instructors or research assistants.

Some universities also offer full or partial PhD scholarships. Sometimes, financial aid is also offered by government institutions, which award scholarships to outstanding students.

Master’s vs. PhD: Applications

Although the application procedure for master’s vs. PhD degrees is different, in most cases you’ll need to submit the following documents:

• Undergraduate diploma and transcript
• Motivation or presentation letter
• Letter/s of recommendation

Each university has different requirements for master’s vs. PhD applications. Always check with the department in question.

Master’s application

Master’s degree applications require evidence of previous undergraduate studies.

In the US , it’s also common to require a minimum GPA score of 3.0, plus additional tests like GMAT (for business and management Master’s) or LSAT (for law degrees).

In the UK , applications must include proof of an undergraduate degree with at least a 2:1 score, full academic transcripts, and proof of English language proficiency. GMAT and LSAT aren’t always required. You need to check with each university to see what applies.

PhD application

Since PhDs are research-oriented, the application must reflect your research interests and background, ensuring they match the expertise of a specific department.

The application must also include:

• A proposal where you describe the goals
• Relevance of your research topic

In the UK , PhD applications don’t usually have a cost. Before applying, you should contact potential supervisors to ensure your research interests are a good fit. Deadlines usually close 1-3 months before the start date.

In the US , the research proposal doesn’t carry as much weight as it does in the UK. US universities consider other factors, such as personal and academic achievements and extra-curricular interests. There’s usually a cost associated with US applications, and they can be filed between August and December.

Master’s vs. PhD: Making the decision

Master’s vs. PhD – make the right decision with the help of this checklist.

Master's vs. PhD: Is a PhD harder?

Not necessarily, but a PhDs entails a longer time commitment than a master’s.

Master's vs. PhD: Do I need to have a master’s before applying to a PhD?

Not always. Some universities let you apply to a PhD with a bachelor’s degree.

Master's vs. PhD: Can I take them part-time?

Many universities allow this, but it will take you twice as long to finish your degree.

Master's vs. PhD: Will I have to take exams?

In master’s degrees, there are different exams throughout the course. PhD students only take an oral exam at the end of their degree.

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Masters vs PhD: Which is right for you?

Franka Zlatic

Even though a PhD usually comes after you’ve finished your Masters, there are some exceptions that will allow you to transition into a PhD program.

For example, some courses offer an Honours year that will give you the option of skipping your Masters and go straight into a PhD and some programmes offer 1+3 year courses, which means that you automatically continue to pursue a PhD once you’ve graduated your Masters.

If you are deciding on whether to pursue a Masters, a PhD or perhaps both, and you have second thoughts about which option is better for you, here are few pros and cons that can help you decide.

What do you want to do?

No matter which discipline you’re studying, the biggest decision related to whether to pursue a PhD is to ask yourself about what you want to do later in your life.

If you want to to continue into academia and teaching at a university, then a PhD is the right choice. There are very small chances of get a teaching job at a university unless you have a PhD as a minimum.

The same also applies if you are looking to get a job as a researcher or a scientist. Many research institutes require a PhD level for their applicants so if you want to be a scientist of any kind, so a PhD will open those doors for you.

On the other hand, if you have no interest in teaching and working with students and would prefer working in the industry, there’s no reason for you to apply for a PhD.

For some industry jobs, even bachelor’s degree can be sufficient, but with a Masters, you’ll have a bigger chance of progress. A Masters degree will give you the additional knowledge and experience to specialise in your chosen field.

Do you like to study?

It sounds very vague, but having a PhD means you’ll have to continue studying for at least the next 3-4 years full time, then possibly the rest of your life if you pursue the life of an academic.

Life as an academic means you’ll have to keep up with recent research and be able to transfer all that knowledge to the younger generations and students. That includes lots of reading, researching and writing – basically your learning continues but becomes more academic.

But, If you were someone that couldn’t wait for your Bachelors to end, and you can’t imagine yourself reading and studying for more than you actually need to, then pursuing a PhD might not be the right choice.

However, with a Masters you can find good jobs and establish a stable career in your industry once you graduate, so it’ll be more about using the knowledge you have in a practical way rather than a career spent acquiring new knowledge all the time.

Time and commitments

Becoming a researcher takes time, and PhD is a best way to become a scientist. However, PhD lasts typically 3-4 years full time and 6-7 years part time. That means that you have to dedicate a significant amount of your life to completing your PhD.

On a different note, Masters takes one to maximum two years and it does allow a dose of flexibility since many people who are working full-time often enroll into a Masters to get ahead in their chosen field or to gain entry into a new industry.

PhD is not something that allows you to be flexible as it requires your constant attention and progress. Even if it’s part time.

Many students can’t wait to start working, change jobs, move places, travel and generally, most people like flexibility. With a Masters, you can also enjoy established and lengthier break times.

There are still Christmas, spring and summer breaks that will allow you to travel, get some rest and balance commitments with your family and work.

On the other hand a PhD is more like a full-time job you have to finish within a certain deadline, so you might not have that option available to you if you have a lot of work, family and financial commitments to consider.

Independence and learning

One of the biggest differences between a Masters and a PhD is the way each of them is structured. Masters is organised in a similar way as bachelors, especially if it’s coursework based. You’ll have lectures, exams and essays to submit and that’s it.

A research-based Masters is a bit more oriented towards research but you are still supported by professors or supervisors and your research is highly monitored and closely supervised.

However, doing a PhD means while you still have your supervisors’ support, it’s not as much. You’re mostly on your own, making decisions and finding justifications for your research with your supervisors there to show you the way.

At some point of your PhD you’re also expected to teach (and maybe even speak in front of crowds at conferences or forums), so you’ll have to ask yourself if public speaking is something you feel comfortable with.

Whether you choose to pursue a PhD or a Masters, or both, they are advanced form of studies that require you to be strongly motivated to succeed.

The main difference between a Masters and a PhD is where do you see yourself in the future. Both of them bring excellent career opportunities and you’re not going to make a mistake with either of them.

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Choose Between a Master's, Ph.D. in Engineering

A doctorate in engineering requires a love of research and patience for several years of challenging study.

Weigh a Master's, Ph.D. in Engineering

Students who pursue a graduate degree in engineering will be more competitive in the job market than those with just a bachelor's, experts say.

When it comes to employment, graduates with a bachelor's degree in engineering are on solid footing, relatively speaking. With high salaries and some of the best odds of finding full-time work , they can escape the career angst that often plagues their peers with freshly-minted English or history diplomas.

Still, many engineers may find themselves wondering what a graduate degree could do for their career. 

"With the economy improving, significant numbers of job postings are now requiring higher levels of expertise," says Ken Little, senior graduate career development adviser at  Georgia Institute of Technology . At the same time, high-tech jobs are becoming more globally competitive, drawing applicants from all over the world, he says. 

Students looking to get a graduate degree in engineering can choose between a master's program and a Ph.D. It's a big decision, experts say, and one that can significantly affect a student's career. 

Learn why engineers may be more

Before choosing what kind of graduate degree to pursue, students should think about what they want to do with their lives after graduation, experts say.

Master's degrees prepare students for careers in industry that don't have a research focus, says Babatunde Ogunnaike, dean of the college of engineering at the University of Delaware . "If you want to work in research either in industry or in academia or for a government research lab, you need to get a Ph.D.," he says.

Eddie Machek, who is earning a master's degree in civil engineering from the  University of Akron  and who will start a doctoral program in engineering at Georgia Tech this fall, explains the difference between the degrees this way: "At a bachelor's level you are going to go out and do what's been done. At the master's level you are going to be in charge of the people who are doing that stuff. In a Ph.D., that's a whole other thing because you are doing the new stuff. You are in a lab." 

Master's degrees in engineering can be a great fit for recent graduates who want to specialize within engineering or for those already in the field who want to switch their focus, experts say. The degrees can be research-based, which is the more common option, or professional, which lack a research component.

“It opens the door for more specialized opportunities in the workforce," Craig Menzemer, associate dean for graduate studies and administration at the University of Akron, said through email. "For example, a civil engineer with a bachelor’s degree may be expected to do a variety of day-to-day tasks, but a civil engineering major with a master’s who specialized in structures will have opportunities to work on structural-specific projects." 

Discover the

Aditya Srinath, who earned his  master's in industrial engineering from Purdue University in 2014, says he opted for the credential because it helped him bolster his professional skills rather than research skills. "A master's strikes a good balance between having more education than a bachelor's and not as much as Ph.D but still having a more rounded-out profile," says Srinath, who works as a project engineer at 3M, which manufactures a wide array of products, including Post-it Notes. 

Engineering Ph.D.s provide even more specialization than master's degrees, and a higher earning potential, but they also come with significant risks, experts say. 

Research jobs within government labs and industry are quite competitive, and tenure-track faculty positions are notoriously hard to come by, says George Haritos, dean of the college of engineering at the University of Akron. What's more, sometimes employers in industry won't hire Ph.D.s because they fear they are overqualified and would have to pay them too much, he says. 

Doctoral programs require students to put in a great deal of time and effort, experts say. Not everyone finishes the programs, and those who do are both gifted and passionate about their subject. 

Scottie-Beth Fleming, who is earning a doctorate in aerospace engineering from Georgia Tech, says she enjoys the independence that comes with a Ph.D. 

"With the master's, a lot of times, your research is driven by the government or someone who is giving money and there is an expectation of what you are going to do," she says. "In a Ph.D. you don’t have that expectation. You get to explore an area that maybe nobody else would explore." 

Before making a final decision about what kind of advanced engineering degree to pursue, students should also look into the requirements of their field, says Susan Fisher, director of graduate programs at Purdue University's engineering school.

For example, chemical engineering and biomedical engineering have more employment opportunities for Ph.D. students, she says. Civil engineering, on the other hand, has more employment openings outside academia for those with master’s degrees than for those with doctorates.

One way students can gauge whether they are ready for a Ph.D is to take a few research-focused courses either in undergrad or while in a master's program, experts say. 

"The goal is to find out what you are truly passionate about and find a good way to apply that to the world," Srinath says. 

Searching for an engineering school? Get our  complete rankings  of Best Engineering Schools.

Tags: education , engineering graduate school , graduate schools , STEM education , STEM , students

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Should You Get a Master’s or a PhD in Biotechnology?

Industry Advice Science & Mathematics

The job outlook for biotechnology professionals is very positive, with 2020 salaries averaging between $80,000 and $90,00 per year. As a result, many individuals are pursuing advanced degrees in biotechnology in hopes of acquiring the training and experience needed to land a role in this lucrative field.

Luckily, those with an undergraduate degree have the benefit of tailoring their graduate education by choosing to enroll in either a biotech master’s or a PhD program. Read on to explore how these two programs differ and what the five key aspects you should consider when deciding which is the right fit for you.

Choosing a Master’s vs. a PhD in Biotechnology: What to Consider 

1. your career goals.

Perhaps the most significant question you can ask yourself when picking between a master’s and a PhD is, “What do I intend to do with my degree?”

For example, because PhDs require an extensive time commitment and provide students the chance to explore the academic side of the field, individuals who want to pursue research are best suited for this degree.

“If you want to be an academic, you absolutely have to get a PhD,” says Jared Auclair, director of the biotechnology and bioinformatics programs at Northeastern. Conversely, he explains, “if you want to go work the industry, a master’s is the way to go.” 

A master’s degree is designed to transition students seamlessly from the classroom into the workforce. These programs tend to be shorter, and they provide chances for hands-on learning within real-world organizations. In short, they are developed in a way that allows students to begin shaping their careers in biotech before they even graduate.

“Because a master’s degree takes less time schooling-wise, you can go out and work in the industry sooner, get hands-on experience, and then move up in the chain of command,” Auclair says. 

Learn More: Industry vs. Academia: Which is Right for You?

PhD candidates considering work in industry (versus academia) are not as easily set up for success. This is because, while a PhD candidate is spending years in a classroom, professionals with master’s degrees are already out in the field collecting valuable real-world experiences that will help prepare them to advance within an organization.

And while there are still some companies that might value a PhD applicant’s extensive study over a master’s degree applicant’s time in the workforce, Auclair explains that, in most cases, a master’s is really all a hiring manager is looking for among applicants.

“In most of the job postings I see…companies are looking for those with master’s [degrees], not PhDs,” he says, noting that there are only a few situations where, in C-level leadership roles specifically, a PhD candidate might have an edge. 

2. Curriculum

“A master’s program and a PhD program in biotechnology will have similar coursework,” Auclair says.  Both are designed to provide students with an expansive understanding of the field, including the tools, practices, and trends that define it today.

In a PhD program, however, students will have the opportunity to specialize in a specific area of practice within the larger biotechnology field. “A master’s offers a broader depth of training…[whereas] PhDs are trained to do something very specific,” he continues.

As a result, master’s students may end up taking more classes and leaving with a much broader and holistic understanding of the field than their PhD counterparts. 

3. Program Length

A master’s program is designed to be completed quickly so that students can explore opportunities within the industry earlier in their careers. At Northeastern, for example, the master’s in biotechnology program can take anywhere from two to three years to complete, depending on whether a student pursues it in a full-time or part-time capacity.

A PhD, on the other hand, requires a much longer time commitment. After completing core classes, PhD students complete a three- to five-year research project with the faculty of their program, effectively delaying their release into the workforce.

4. Experiential Learning Opportunities

The experiential component of a student’s education is perhaps the biggest differentiator in the structures of PhD and master’s programs.

Students who pursue their master’s at Northeastern, for example, have unparalleled opportunities to practice their skills hands-on at organizations in the industry before ever entering the workforce.

“Our master program has a mandatory co-op , which is 12 weeks to six months of experience in the industry,” Auclair says. This paid and credited work provides students with the chance to explore the trends of the industry first-hand, network with leaders in the field, and begin to develop working relationships with organizations they may hope to be employed by after they graduate.

Just as industry experience prepares master’s students to thrive in the field, many PhD programs provide experiential learning opportunities for their students that expose them to the types of research and academia they can expect to pursue post-graduation.

“After you do your mandatory coursework for your PhD, you’re going to do a research project with a faculty,” Auclair says. “And that’s not industry experience, it’s academic research experience, which is completely different.”

This academic research gives students a chance to become comfortable in a lab or research setting, gain exposure to some of the technology and tools they will use in practice, and begin developing working relationships with professors and other university faculty.

5. Demands of the Industry

Some professionals considering an advanced degree do so knowing exactly what they want to do with their careers. For these individuals, the process of deciding between a master’s and a PhD may stop after consideration of their career goals.

However, some individuals embark on advanced education not to fulfill a specific career objective, but to simply pursue their passion for biotechnology. These individuals should think about not only what career opportunities each program might lead to, but which degree will best set them up to meet the current demands of the industry.

For example, the COVID-19 pandemic has created a plethora of lucrative possibilities for those in the biotechnology sector. Between a need for expedited vaccine development, a rethinking of telemedicine, and much more, Auclair notes there will be many new and exciting opportunities for those hoping to get involved.

“With COVID…sciences and new technologies are going to evolve rapidly,” he says. “The master’s degree sets you up to be more nimble and flexible [in order] to adapt to those [changes] and to really have a broader impact.”

Though there are opportunities for PhD holders to carve out a place for themselves in the industry, Auclair explains that the depth and type of training required at their level don’t as easily translate.

“Traditionally a person with a PhD is very specialized in one specific technique or aspect of the sciences, whereas somebody with a master’s is [better] able to adapt to the evolution of where the science is going to go. I’m not saying that PhDs can’t do that, but it’s typically not as easy for them.”

Weighing Your Options

If you’re considering a career in biotechnology, an advanced degree provides a perfect opportunity to gain the training and hands-on experience necessary to thrive within this ever-evolving field.

The Master of Science in Biotechnology at Northeastern, for example, has been designed with the input of industry experts and is constantly evolving to best prepare its students to meet the changing needs of the field.

“Part of my mission is to develop all of our programs in collaboration with industry,” Auclair says. “[We] monitor the trends and evolve and adapt as the trends evolve and adapt so that we’re producing people who are ready to work in the business of today or tomorrow, and not of yesterday.”

Northeastern has also taken steps to create opportunities for students who want both the industry exposure of a master’s degree with the cumulative title of a PhD.

The Experiential PhD is a unique program that allows students to work toward their PhD while simultaneously holding a full-time position within the industry. While this degree can be applied to any field, it’s particularly relevant to master’s degree holders who later realize they want to specialize their knowledge or to pivot their career toward research.

Northeastern’s master’s in biotechnology is designed to effectively complement this degree, as well. The Experiential PhD allows students to build off the holistic understanding of the industry obtained at the master’s level, preventing them from repeating much of the same coursework over again as they would in pursuit of a different science-based PhD.

The way it works, Auclair explains, is that “when you have your master’s…and you’re working at a company, you find a mentor in that company and a mentor at the university, and you [choose and then] work on a project that’s interesting to all three of you.”

This type of industry-applicable PhD is ideal for those who have already spent time working within organizations in the field. It allows you to advance your education while still continuing to function as an employee at your company. “You get all the benefits and the money and the salary and everything, but you’re still getting your PhD and it [only takes] three years,” Auclair says.

Take the Next Step

No matter which program you choose, pursuing an advanced degree in biotechnology is sure to be a positive step toward success in this field.  If you’re still struggling to determine which path is right for you, consult with an expert in the field. Whether that person is someone in your network that works in biotech or an enrollment coach at Northeastern, (who are well-versed in Northeastern’s variety of programs), gaining some outside perspective can help you make this important career choice.

Explore the master’s in biotechnology at Northeastern on our program page then download our free e-Book to learn more about how you can advance your career in biotechnology.

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The average U.S. bioscience worker earned nearly $99,000 in 2016, 85% greater than the average for the overall private sector. (BIO, 2018)

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Masters vs PhD: Difference and Comparison

The education system of any country consists of several levels of study. A student tries to pursue education in a particular course, and they follow various levels of degrees in their academic years.

Each degree level consists of a specific amount of time required to complete the respective degree of a particular course.

Each degree of education is completed after a certain number of studies. Each degree has a different level of difficulty. Two of those degrees are 1. Masters degree, and 2. PhD degree.

Key Takeaways A Master’s degree focuses on acquiring advanced knowledge in a specific field, while a PhD emphasizes original research and the creation of new knowledge. Masters programs take 1-2 years to complete, whereas PhD programs can take 4-6 years or more. A Master’s degree is a prerequisite for pursuing a PhD, but the latter leads to more specialized career opportunities and the potential for higher-paying positions.

Masters vs PhD

Master’s degrees are graduate-level academic degrees awarded by universities or colleges, requiring coursework, research projects, and a thesis or exam. PhD degrees are the highest level of academic degree awarded by universities or colleges, requiring several years of coursework, research, and dissertation completion.

A master’s degree is a degree that a college or institution offers after a student completes their bachelor’s degree. Whenever students opt for a particular course, they get to study it at different levels and difficulty levels.

During a master’s degree, they get to study their respective courses even more profound, and the complexity of the system is more than it was during the bachelor’s degree.

A PhD degree is a course’s most challenging level of degree. During a PhD degree, one gets to study their course even more profoundly, and one can also research a topic that interests them that is relevant to their practice.

In many countries, a PhD degree is considered the highest level of degree that one can achieve in their academic course.

Comparison Table

What is masters’s degree.

A master’s degree is a degree that is offered after a student completes their bachelor’s degree and before their PhD or doctorate.

An individual pursuing a master’s degree gets to study their subjects from their particular course in detail and even in a more profound manner.

A master’s degree consists of both theoretical as well as applied subjects. One must understand the theory of a particular topic and perform practical regarding the idea .

The evaluation done during a master’s degree is more detailed, and the analysis that is supposed to be done of a specific subject is more than the analysis that is done during a bachelor’s degree.

Whenever an individual completes their master’s degree, he is titled as the master of the course they are studying or have learned.

Various degrees that consist of both research and theory are science and arts. Different kind of material is taught in both of these courses.

Different countries have different course structures for their master’s programs. In countries like the United States of In America and Canada, the duration of a master’s degree is two years.

In countries like India , the duration of a master’s degree is three years. In the United Kingdom, there are part-time master’s degrees and full-time master’s degrees.

A full-time master’s degree takes one to two years. On the other hand, a part-time master’s degree takes two to four years to complete.

What is a PhD?

“The PhD degree is one of the highest degrees of education an individual can study in their respective course. It is the short form of the”Doctor of Philosophy”. “The PhD degree is one of the highest degrees of education that an individual can study in their respective course. It is the short form of the “Doctor of Philosophy”.

A person can work in a specific field after completing their PhD degree, and they can also select the specialization over time.

The amount of research and studies required while pursuing a PhD degree is much more than the amount of research and studies required while pursuing a bachelor’s degree and a master’s degree.

In many countries, it is considered the highest degree of education that one can pursue in their particular course. They also think that the person is eligible and capable of teaching the same subject in a college and university.

Some countries accept the coursework that students complete before their PhD degree. Some countries require a portfolio where students must mention their published papers.

During the PhD degree, a student must study and research their subject.

There are distance-learning PhD programs offered by many colleges for students who are not able to attend college physically.

Other than that, a PhD degree includes an oral exam where students must present themselves and their thesis to the panel of examiners.

However, many countries have a rule that a student must complete their bachelor’s degree and their master’s degree to opt for a PhD degree.

Main Differences Between Masters and PhD

• A master’s degree is completed before a PhD degree. On the other hand, the PhD degree is completed after the master’s degree.
• To pursue a master’s degree, one must complete their bachelor’s degree. On the other hand, to complete their PhD degree, one must complete their bachelor’s degree and master’s degree.
• A master’s degree holder gets comparatively fewer salary packages. On the other hand, the PhD degree holder gets more salary packages as they are experts of the subject and course that they have studied.
• A master’s degree takes less time for complete. On the other hand, a PhD degree takes more time to complete.
• A master’s degree has comparatively lesser studies. On the other hand, a PhD degree has comparatively more studies.
• Financing a master’s degree is comparatively less. On the other hand, financing a PhD degree is comparatively more.
• In most countries, it takes two to three years to complete a master’s degree. On the other hand, in most countries, it takes three to four years to complete a PhD degree.
• The value of a master’s degree is comparatively less. On the other hand, the value of a PhD degree is comparatively more.
• A master’s degree is closely related to career and ambitions. On the other hand, a PhD degree is closely related to the teaching profession .

• https://www.tandfonline.com/doi/abs/10.1080/02602938.2011.638738
• https://www.tandfonline.com/doi/abs/10.1080/01421590802366129

Last Updated : 13 July, 2023

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Emma Smith holds an MA degree in English from Irvine Valley College. She has been a Journalist since 2002, writing articles on the English language, Sports, and Law. Read more about me on her bio page .

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• Second Master’s or PhD? – A Comparison
• Types of Doctorates

A second Master’s degree is best suited for those who want to work in industry, but first either want to acquire additional knowledge in their current field or move to a new one. A PhD is best suited to those who want to gain advanced research skills and expertise in their current field and pursue a career in research or academia.

Introduction

It’s common for Master’s students to be plagued by the thought of what they will do next as they near the end of their current degree. Whether it’s taking a gap year, starting their career or continuing education, one thing is clear: there are many possibilities.

If you decide to stay in education, you’ll likely at some point consider whether it’s better to do a second Master’s or a PhD. You’d be right to give this serious thought, as the two degrees have significant differences, from their costs and durations, to the career paths they offer.

This page explains the differences between a second Master’s and a PhD, the pros and cons of each, and will help you to decide which of the two degrees is best for you.

Second Master’s vs PhD

Level of specialisation, master’s.

A Master’s degree, regardless of whether it’s an MSc, MRes or MPhil, aims to provide you with targeted knowledge that builds on what you would have learnt from your undergraduate degree. Although each type of Master’s degree has its own focus, such as an MSc on practical knowledge and an MPhil on research skills, the specialisation they offer isn’t as in-depth as that offered by a PhD. This is because they have a wider curriculum and usually utilise several teaching methods, including lectures and tutorials, which provide a range of knowledge around several closely related subjects.

PhDs are the highest form of academic qualification you can obtain and offer more specialised knowledge than any Master’s degree. Unlike Master’s degrees, which are based on a mixture of teaching methods and curriculum, PhDs are purely research degrees and focus on a specific research question.

A second Master’s degree will provide you with specialist knowledge in various subjects in your field. A doctoral degree will provide you with research skills and expert knowledge in a single topic within your field.

Programme Duration

Most Master’s courses take one year to complete, with an MPhil two years. However, the exact duration will depend on your specific course, type of Master’s and university.

A PhD lasts on average three to four years , with part-time studies lasting up to eight years.

Since a doctorate lasts several times longer than a Master’s, it requires a much greater commitment.

Programme Cost

The cost of a second Master’s degree will vary depending on its type, subject and host universities. Based on an analysis by FindAMaster’s , which summarises tuition fees from the International and Postgraduate Fees Survey 2019 , the average academic tuition fee per year for a Master’s degree in the UK is:

The average tuition fee per year for a PhD in the UK is £4,407 for home/EU students and £19,600 for international students .

There are other fees associated with doctoral research projects that aren’t present with Master’s studies. These include bench fees, travel costs for collaborations and conferences, and potential writing up fees for late thesis submissions.

Annually, a second Master’s degree is twice as expensive than a PhD for home/EU students, and slightly cheaper for international students. However, considering the typical duration of these programmes, a PhD becomes significantly more expensive; twice as expensive for home/EU students and four times as expensive for international students:

Notes: (1) The tuition fee values for the second Master’s is based on the average fees for an MSc. (2) The above table assumes a second Master’s duration of 1 year and a PhD duration of 4 years. (3) The fees and durations are indicative – the exact values vary depending on the course and university.

It’s also important to bear in mind that many PhD programmes come with funding which covers the cost of their fees. Many funding packages also include a living allowance (known as a stipend) which is comparable to a low salary. It is usually much more difficult to secure non-repayable funding for a Master’s programme unless it’s integrated with a PhD programme.

Employability

The skills and knowledge gained through a Master’s degree are general enough to apply to other relevant disciplines. For example, a Master’s degree in statistics would enable you to work in finance, medical analysis, and specific engineering fields etc. Due to this, a second Master’s could help make you suitable for an even wider range of professional fields.

Because a PhD focuses on advanced research methods and a specific research question as opposed to the broad field, your career path is usually refined to the more advanced positions which require expert knowledge. This doesn’t mean that you cannot apply your skills elsewhere, but most PhD holders remain in their field after completing their studies.

It’s worth noting, however, that there is a growing trend for PhD holders to use the transferable skills they acquired during their degree to successfully reposition themselves in careers outside of academia. In fact, STEM PhD holders are particularly sought after in the financial sector because of their proven ability to perform complex tasks under strict deadlines.

Both a second Master’s and a PhD offer excellent employment opportunities. However, a second Master’s usually offers greater career flexibility across industries, especially at the beginning of a career. A doctorate opens up the more demanding positions within a field, but can sometimes make it more difficult to change industries.

Finding a PhD has never been this easy – search for a PhD by keyword, location or academic area of interest.

Advantages and Disadvantages of a Second Master’s

Improving skills:  A second Master’s can strengthen your skills within your current field. For example, suppose you have an MEng in Biomedical Engineering. Here, you know of the technical aspects and their application, but you do not necessarily know how to innovate and develop them further. You could fill this skills gap with an MRes or an MPhil that would provide you with complimentary research and investigatory skills. Improving your skills won’t only help you advance faster in your career faster but may also open up future roles that would not otherwise be available to you.

Career change:  After completing your first Master’s degree, you may decide that the field is no longer suitable for you. In these scenarios, a second Master’s degree can facilitate career changes. This will have obvious limitations, for example, you shouldn’t expect to be able to do a Master’s in Biomedical Engineering with a Master’s in Classical Literature, however, if you already have a Master’s in another type of engineering, this transition would be possible.

Bridge between different Industries: In STEM subjects, there is extensive interaction between different industries. Although this interaction has always existed, it has grown steadily as more industries try to innovate and tackle more ambitious projects. There’s an obvious need for multidisciplinary roles, and a second Master’s degree in a relevant subject can make you desirable for this reason.

Disadvantages

Perception: If you carry out a second Master’s in a field unrelated to your first, even if to facilitate a career change, it can lead to potential employers perceiving you as unfocused. Although this shouldn’t be the case for large multidisciplinary organisations, it may deter the more specialised companies.

Salary: While a second relevant Master’s in the same subject field may increase your earning potential, a second unrelated Master’s is unlikely to. Although an unrelated second Master’s isn’t a disadvantage if being used to facilitate a career change, it will probably be an unnecessary use of time and money if you intend to stay within your current career path.

Advantages and Disadvantages of a PhD

Establishing yourself as an Expert: Any individual who holds a doctorate is considered an expert in his or her field. Therefore, a PhD has not only a prestigious status but also opens up roles in advanced research and academia.

Commitment: A PhD shows your willingness, commitment and motivation to learn. This makes you highly desirable for employers, as a strong passion for continuous learning usually correlates with the potential to become industry leaders.

Less freedom:  Taking three to four years to complete, a PhD is a huge commitment. As a result, many feel pressured to stay in their field to ensure that their PhD was ‘worth’ it, even if they no longer feel that the field is the right one for them. Although it is still possible to change paths after your doctorate, and many do so successfully, many feel ‘locked’ into their path after they finish their studies.

Over-qualified: You may find it difficult to find a job outside of research or academia, as employers may consider you over-qualified and therefore believe that you will quickly leap from the role to a more challenging one. They may also believe you lack practical work experience compared to your counterpart, who has a Master’s degree and has been working in the industry whilst you were working on your academic studies.

Cost: While PhD programmes can come with funding that helps to finance tuition fees and living costs, the funding usually covers only the first 3.5 years of full-time programmes and the first seven years of part-time programmes. You may be determined to complete your doctorate within this timeframe, but it is not uncommon for students to experience setbacks in their research that take them beyond the period for which they’re funded for. This means they have to pay the rest of the fee themselves, which can be a significant burden for some, especially if they lack the savings to do so.

Deciding between a second Master’s and a PhD may seem like a tough decision, but ultimately it depends on what your career goals are. Therefore, the first thing to do is to ensure you’ve thought about your future and have a good idea of where you want to go after your education.

A second Master’s is best suited to those who want to either gain more specialised knowledge in their current industry or make a job change by transitioning into a new industry. A PhD is best suited for those who want to gain advanced research skills and knowledge in their field and pursue a career in research or academia.

Either way, both options offer great opportunities and will open new doors for you. Which of the two degrees is better for you depends on which door you would like to open.

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