Do Your Employees Really Need a Masters Degree?
Do Your Employees Really Need a Masters Degree?

During a person's academic life, one choice that is usually on the table is whether to go for a master's degree or look for a job after completing an undergraduate degree. The choice between the two can be daunting.

A master's degree can offer many perks to those who decide to pursue it. Holding a master's degree may give people access to better job positions in the market, possible higher pay, an expanded professional network and additional expertise in a specific area distinguishing them from other professionals. It also helps develop many skills, such as learning to work as a team, critical thinking and new research strategies.

Yet, those without a master's degree may have more hands-on experience or valuable field training. Their time in a job or field of study may also make them stand out against their fellow professionals. Additionally, time in the industry may allow for higher pay or a better position than those fresh out of grad school.

So the big question is, do your employees need a master's degree?

Is it essential for success?

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Even after considering all its advantages, the answer is no, at least according to the book "Think and Grow Rich," by Napoleon Hill. Hill says that it doesn't matter how many years of study a person has; what matters is their character, personality, efficiency and productivity. Hill uses Henry Ford to drive home his point. Ford had almost no study at all, yet Ford was able to found one of the most important companies in the world.

Considering what Hill says in his book, a person with fewer years of study can be as good as an employee with a master's degree, as long as they demonstrate a willingness to produce results and perform their job.

If an employee has a master's degree

When hiring someone with a master's degree, you are more likely to hire an employee with a greater knowledge of the industry, services, brand, etc. Their study of choice allows for greater personal growth and the potential for greater returns for the company.

Do be aware that a higher degree may require higher pay for the employee. This may cost the company if their return on investment in the employee does not pan out.

A reason to possibly hire someone with a master's degree is that the employee may add prestige to the company. Clients may give more credit to companies with a higher level of expertise or study. This is usually provided via employees and their accompanying titles.

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When you hire a new employee

When hiring a new employee, you should consider:

  • Is a master's degree or other certification required for the position?
  • Will this employee perform their job the best they can, even if they don't have proficiency in the field?
  • What is the main goal for the new employee?
  • What kind of reputation will the new employee add to the company?
  • Will the employee perform the job with excellence?
  • What kind of network will they bring with them?
  • How much are you willing to spend on your new employee?

These questions are extremely important to keep in mind before bringing on someone new to the company, as they will directly affect the company's status, finances and personal environment.

Final thoughts

When it comes to the question "do your employees need a master's degree?" the final answer is that it depends on what you are looking for when hiring. Regardless of education status, an employee should meet the company standard for productivity and fit well into the company's fabric.

If you wish to hire an individual with a master's degree, you may also consider their field of study, network and reputation. But you can also argue that an individual without a master's degree could also meet the same requirements minus the master's degree.

When screening applicants to hire for your company, keep an open mind and give all applicants a chance to impress.

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