About 14.4 percent of Americans aged 25 and older hold an advanced degree, meaning a master’s, professional, or doctoral degree, according to the 2021 American Community Survey. Roughly 9 percent hold a master’s degree specifically.
The number of master’s degrees awarded keeps rising. Between the 2010-11 and 2020-21 academic years, the number conferred in the United States grew by about 19 percent, based on National Center for Education Statistics data. Women now earn the majority: in 2020-21, women earned 62 percent of master’s degrees and men earned 38 percent.
Business, education, and health professions are the most popular fields for master’s study. Outcomes vary by field, so choose based on demand in the work you want to do.
Advanced degrees tend to pay. The Bureau of Labor Statistics reports that workers with a master’s earn roughly 18 to 20 percent more in median weekly earnings than workers with only a bachelor’s degree. Occupations that typically require a master’s degree were also among the faster-growing categories in federal employment projections.
A master’s is not required for most jobs, but in fields where it is the standard credential, it can open doors that stay closed otherwise. Compare online and traditional master’s formats, build marketable graduate skills, and check accredited online degree options before you commit.
