Don't take a year off, take a Master's

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In a congested job market, it is only sensible to look for a way to stand out
from the crowd. Not too long ago, a good degree would have done the trick,
but with almost half of all school leavers now going to university that may
no longer be enough.

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So it is perhaps not surprising that more graduates are opting to stay on at university,
with a master’s degree the most popular option. Figures from the Higher
Education Statistics Agency show an increase of almost a third in the number
of UK students
enrolling on a master’s course in the decade to 2011-12.

For many students, a key attraction of a master’s is to make themselves more
appealing to employers. “I thought that when everybody is getting a degree,
having a master’s would be another dimension,” says Dan George. “I was
really interested in the subject and I thought it would help me
employment-wise.”

George, now 25, took an MA in international conflict studies at King’s
College London
after completing a BA in politics at the University
of East Anglia
. Although it sounds like a niche subject, and it cost
him £8,000 in fees, his master’s helped land him a job with an
anti-human-trafficking charity. “It was largely because my dissertation was
in international organised crime,” he says.

This attempt to differentiate yourself in the labour market is one of the
principal reasons to take a master’s, confirms Professor David Bogle, head
of the graduate school at University
College London
. “Lots of people have undergraduate degrees, so you
have got to show a little bit more,” he says.

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The first issue for students is whether they would be accepted on to a
master’s course. Most universities require a minimum of a 2:2 in an
undergraduate degree, although in practice many prefer a first or 2:1.

As well as the ability to reach a higher academic standard than that required
for an undergraduate degree, prospective master’s students need to show a
commitment to their subject and a capacity for independent thinking, adds
Bogle. Enthusiasm is clearly vital if applicants are to sustain a year of
intense study.

“There is almost always a research element, and that means they have to
explore some new ideas in depth,” he says. “There is also a greater level of
rigour and the workload is much greater than an undergraduate degree.”

The level of study required means that a master’s should not be seen as a soft
option, says Professor Sarah Hainsworth, graduate dean at the University
of Leicester
. “A master’s is aimed at people looking to extend their
range and capability,” she says. “The content is more challenging and the
project element is more demanding than at undergraduate level.”

A major obstacle for many students is finance. Average fees are around £6,000,
although they can be £30,000 or more for some MBAs. Some funding bodies
offer bursaries, but these are few and far between. Most students have to
fund their master’s degrees themselves, and for many this means a
professional and career development loan, offered by banks at a reduced
interest.

The Government pays the interest during the course, but, unlike student loans,
repayment begins one month after the course finishes, regardless of
earnings.

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George, who now works in public relations, took out a loan of £11,000 to cover
his fees. “It was a big investment, although I’m still glad I did it,” he
says.

For many, whether this investment will pay off is the crunch issue. There are
some careers where a master’s is required, either for entry into the
profession or for career progression, and where there is little doubt that
it is worth it, says Tom Davie, deputy head of the Careers, Employability
and Enterprise Centre at Durham
University
. These include town planning, social work and human
resources.

In some fields, while a master’s may not be required, it can undoubtedly
enhance a candidate’s application, he adds. For example, a master’s in
history of art or museum studies would be an advantage for someone wanting
to work in the heritage sector.

Similarly, a relevant master’s with an element of work experience is desirable
in the charity or non-governmental organisation (NGO) sector.

“Having a master’s plus work experience would probably get me a job with an
NGO; having an undergraduate degree and a bit of voluntary work probably
would not,” says Davie.

Science and engineering companies are often well-disposed towards postgraduate
degrees. A significant proportion of the 250-odd graduates taken on annually
by Jaguar Land Rover have a master’s or PhD, says the company’s head of
technical excellence, Joe Lopes.

He says the company wants technical expertise in areas relevant to the
automotive industry. “But we're also looking for an ability to integrate
into teams, and at master’s level you can explore that in more depth than in
a first degree.”

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But master’s courses also equip students with transferable skills, whatever
the subject, says Davie. These include persuasion and influencing,
problem-solving, analysis and research, and presentation skills. “It allows
them to become more competitive in the jobs market,” he says.

These skills help make master’s graduates more attractive to many employers,
regardless of the content of their degree, says Jane Artess, director of
research at the Higher Education Careers Services Unit.

Research published by the unit last month shows a significantly higher rate of
employment six months after leaving university among master’s graduates than
those with just a first degree, 86 per cent to 74 per cent.

“It may not be the master’s itself that is the distinguishing feature, but the
qualities the graduates acquire along the way,” she says. Around two-thirds
of graduates go into jobs where the subject of their degree is not relevant,
she adds.

But for all its advantages, a master’s is not a good way of delaying looking
for a job, says Hainsworth at Leicester University. “Employers are very good
at rooting out whether a student has done it for a genuine reason, or
whether they have done it to put off the inevitable,” she says.

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Few companies ask specifically for candidates with a master’s degree, but
there is no doubt that it enhances a candidate’s CV, says James Callander,
managing director of the recruitment consultancy FreshMinds Talent. The
proviso is that they should be able to justify their chosen path.

It was a year working in industry as part of his master’s in chemistry that
convinced David Harper to switch from research to a career in business.
Harper, 23, is now coming up to the end of his first year on the Nationwide
Building Society’s graduate training scheme and says the skills he learnt
during his master’s proved invaluable.

“It gave me time to contemplate what I wanted to do, and it meant I had more
to put on my CV and more to talk about at interview,” he says. “Without that
year I would have found it a lot more challenging to get a job.”

Useful websites: ucas.com;
prospects.ac.uk; findamasters.com