06 July, 2021 | Posted by Cian Fahey

The True Value of a Master's Degree

Graduate with a master's degree

No matter where you look, the value of a master’s degree is obvious.

Master’s degree holders earn more money and are more appealing to employers, while also filling more leadership roles than those with lesser qualifications. In Ireland, a study from 2019 revealed that the higher you go up in education, the more financially rewarding your career will be.

As reported by the Irish Times, a study of 300,000 college graduates between 2012 and 2016 using their PAYE records revealed that the average salary for each level of degree continually rises.

  • PhD Graduate - €710 per week.
  • Master’s Graduate - €560 per week.
  • Honours Degree - €475 per week.
  • Ordinary Degree - €380 per week.
  • Advanced Certificate - €285 per week.

The figures show that there is a clear increase in income for those who continue through education. Not only that, these figures are growing over time. From 2010 to 2016, graduates went from earning €420 per week to earning €475 per week.

Furthermore, 80 per cent of graduates were in employment in 2016 compared to 65 per cent of all graduates in 2010.

A master’s degree in Ireland for Irish citizens will most likely cost between €4,000 and €10,000.

Using the most basic of arithmetic, we can see the €85 difference between an Honours degree and a master’s degree and project that over two years. An average master’s degree holder will earn €8,840 more than an Honours degree holder over those first two years. The cost of the master's is already paid for and you can then continually benefit from it for decades to come.

Since the benefits are already evident and continuously growing, this is a short-term investment that pays off with huge returns over the long term.

Master’s degree holders are also afforded more opportunities and are more appealing to employers in different countries. As such, it’s important to understand the value of a master’s degree in countries such as the United Kingdom and the United States of America.

The Bureau of Labour Statistics in America examines the value of a master’s degree annually. In the most recent survey, their findings revealed that master’s degree holders earn $240 more per week on average in 2021 and have a considerably lower unemployment rate.

In the United Kingdom, the Higher Education Statistics Agency (HESA) found that master’s degree holders are significantly more employable in full-time roles than degree holders. 64% of postgraduate degree holders in 2018 were in full-time employment within 15 months of graduating, whereas only 57% of all degree holders were.

A master’s degree helps graduates get ahead and stay ahead. It also opens up opportunities and offers lasting financial rewards. While it may be a big commitment and feel overwhelming when you take it on initially, the multifaceted value of holding the degree is unparalleled.

If you would like to understand your options and start your journey towards a master’s degree in education, you can choose Portobello Institute no matter what step you are taking.

Portobello Institute offers a wide range of courses at different levels across six departments. You can find our six departments and their respective courses on this page.

If you have questions, you can fill in this contact form or contact one of our admissions team members directly.

    • Sharde Sebastian is ready to answer all of your queries about Portobello's Sports courses. You can reach her on 01-892-0029 or email her at sharde.sebastian@portobelloinstitute.com.
    • Jennifer Matteazzi is ready to answer all of your queries about Portobello's Early Years courses. You can reach her on 01-892-0031 or email her at Jennifer.Matteazzi@portobelloinstitute.com.
    • Sarah Coyne is ready to answer all of your queries about Portobello's SNA and Fashion courses. You can reach him on 01-892-0028 or email her at sarah.coyne@portobelloinstitute.com.
    • Brandon McLean is ready to answer all of your queries about Facilities Management and Travel & Tourism and he is the Admissions team leader who can answer any questions you have about the application process or the wider college. You can reach him on 01-892-0035 or email him at brandon.mclean@portobelloinstitute.com.

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