“Master’s degree” and “masters degree” refer to the same thing, but only one spelling is correct. The standard form is “master’s degree,” with the apostrophe. “Masters degree” without the apostrophe is a common mistake.
A master’s degree is a graduate degree earned after a bachelor’s. It usually takes one to two years of full-time study. Programs combine advanced coursework with a thesis, capstone, or practicum.
The degree can raise earnings. The Bureau of Labor Statistics reported that master’s degree holders earned a median of $1,574 per week in 2021, compared with $1,334 for bachelor’s degree holders. Unemployment was also lower, at 2.6 percent versus 3.5 percent.
Whether it pays off depends on your field and goals. Compare the cost of the program with the salary range for the jobs you want. Talk to people working in those roles before you decide. See how a master’s compares to a bachelor’s degree, check how long it takes, browse available courses, and read our abbreviations guide.

