Students are more curious than ever to find out about the best master’s degrees for the future. In their first spring 2023 enrollment snapshot, the National Student Clearinghouse indicates a 4.6 growth in graduate enrollment rates.
Sources suggest workers have used their time at home during the COVID-19 pandemic to rethink their current careers. According to a recent report from the Association of American Medical Colleges, 2021 saw an 18% increase in medical school applications nationwide compared to 2020.
In addition to drawing a diverse group of students, American medical schools enrolled 62,443 candidates for the academic year 2021–2022.
Still, increases in enrollment don’t necessarily equate to increases in employment. Listed below, we’ve outlined some of the most promising graduate degrees to pursue in the coming years, as indicated by the Bureau of Labor Statistics.
In our rapidly changing world, picking a masters degree is an investment in new skills and opportunities. With innovations in technology, shifts in the job landscape, and societal changes, certain degrees stand out for their versatility and future-readiness.
When considering masters programs, it’s essential to research expected growth in related fields and career prospects. You want to select a degree that will be in demand for years to come.
Based on job forecasts and hiring trends, here are 8 of the top masters degrees to pursue for the future:
1. Master of Business Administration (MBA)
The MBA remains one of the most popular and valuable graduate degrees MBA programs develop business acumen and leadership abilities prized across industries
As companies become more global and data-driven, MBA grads gain an advantage with strengths in operations, analytics, and strategy. The flexible MBA skillset translates to roles like marketing, finance, project management, and consulting.
The Bureau of Labor Statistics projects over 7% growth in general business-related occupations over the next decade. An MBA builds foundational business skills to capitalize on this demand.
2. Master of Science in Nursing
With expanding healthcare needs nursing offers incredible career stability and meaningful work. The aging baby-boomer population and nurses retiring guarantee ongoing demand.
A Master of Science in Nursing degree qualifies graduates for roles as nurse practitioners, clinical nurse specialists, certified nurse midwives, and nurse anesthetists. Advanced practice registered nurses will see 26% growth by 2029 per BLS data.
This patient care focus makes nursing masters graduates indispensable. The degree also enables nursing leadership and teaching roles.
3. Master in Computer Science
Computer science remains one of the hottest areas for job growth and competitive salaries. Companies need advanced programming and systems knowledge to innovate.
A Master in Computer Science builds expertise in software engineering, artificial intelligence, information security, data science, robotics, and mobile computing. Graduates qualify for roles designing technology solutions.
With over 21% job growth projected, computer science masters students gain skills for emerging roles across industries. Mechatronics and cloud computing will also drive demand.
4. Master in Healthcare Administration
As healthcare grows more complex, skilled healthcare administrators and managers are essential. A Master in Healthcare Administration prepares graduates to navigate changes and lead health organizations.
Coursework covers critical areas like healthcare policy, hospital administration, public health, health informatics, and healthcare operations. This equips students with leadership abilities and business acumen tailored to the healthcare setting.
According to the BLS, medical and health services manager jobs will grow by 32% by 2030. A healthcare administration masters meets this need.
5. Master in Data Analytics
Data analytics continues its meteoric rise with no slowdown in sight. Companies rely on data insights to operate efficiently, compete in markets, and meet customer needs.
A Master in Data Analytics develops fluency in data mining, statistical modeling, machine learning, and data visualization. Graduates apply analytical problem solving across sectors.
BLS projects over 35% growth for operations research analysts by 2030, while management analysts expect 14% growth. Analytics masters graduates think critically using data.
6. Master in Cybersecurity
Cybersecurity is a top priority as data breaches threaten consumer privacy and cost businesses billions. A Master in Cybersecurity prepares graduates to detect and prevent attacks.
Coursework addresses encryption, ethical hacking, digital forensics, vulnerability assessment, and risk management planning. Graduates gain technical expertise to combat cyber threats.
Cybersecurity jobs are projected to grow 33% with high salaries. A masters in the field develops in-demand skills to defend networks.
7. Master in Public Administration
With a renewed focus on diversity, equity, inclusion, and constituent needs, public sector roles require committed leaders. A Master in Public Administration equips graduates to manage government agencies, nonprofits, NGOs, and community organizations.
MPA coursework covers public policy analysis and advocacy, government operations, nonprofit management, urban planning, and program evaluation. Graduates apply this knowledge in leadership roles serving society.
According to BLS, social and community service managers can expect 13% job growth by 2030. An MPA degree prepares graduates to drive impact.
8. Master of Science in Finance
Finance remains a competitive field, making specialized training essential. A Master of Science in Finance takes students beyond general business knowledge to expertise in investments, financial modeling, risk management, and data analytics.
Graduates pursue roles as financial analysts, investment bankers, corporate finance managers, consultants, and researchers. Coursework aligns with high-demand skills like valuation modeling, quantitative analysis, and regulatory compliance.
BLS projects over 15% growth in financial analyst and personal financial advisor careers this decade. An MS in Finance imparts niche expertise.
Invest in a Future-Ready Masters
When researching masters programs, consider your professional passions along with potential for growth and advancement. The degrees profiled above represent promising options to build versatility and future-readiness.
With a strategic masters program choice, you can gain the advanced hard and soft skills needed to excel. The graduate degree investment will pay dividends across your career span. By selecting a future-focused program, you amplify opportunities in emerging fields.
Take the time to identify masters degrees like these matching your interests and career aspirations. With preparation and dedication, you can achieve your goals and contribute meaningfully as changes unfold.
Master of Finance
Students interested in earning a Master of Finance will learn to manage acquisitions, investments, and capital and conduct financial reports. Though often compared to an MBA, the master’s in finance zeros in on financial theory, mathematics, markets, reporting, and valuation. These programs are shorter than MBAs, allowing you to complete them in just one year.
This program will prepare graduates to work in trading, investment, or risk management. Potential positions include financial manager, controller, investment manager, investment banker, and money manager.
BLS reports that the field is growing fast, with over 100,000 new opportunities hitting the job market by 2029. Financial managers generally earn well over six figures, with a median annual salary of $131,710.
Master of Engineering Management
A Master of Engineering Management program will require applicants to possess a bachelor’s level education explicitly focusing on engineering, technology, mathematics, computer science, or the physical sciences.
These programs are typically tailored toward individuals who are already working within the engineering field but are looking to expand their careers. Courses help prepare students for leadership positions emphasizing business and management skills.
According to BLS, engineering managers make just shy of $150,000 annually, with the top 10 percent earning more than $208,000 annually. That makes engineering management one of our list’s highest-paying master’s degrees.
Top 5 Best Master’s Degrees (2024)
What are the best degrees for the future?
Degrees that show the best job potential, salaries and career growth in their specific fields often designate themselves as the best degrees for the future. Other factors, such as job relevancy, may also affect predictions for the best degrees.
Which master’s degree has a good job outlook?
The master’s degree with the highest projected job outlook depends on future industry demands and the number of people who pursue the degree. One degree with good employment prospects is a Master of Science in nursing, as it can lead to a career as a nurse practitioner.
Is a master’s degree a good choice?
As the academic landscape evolves, the competition for Master’s programs, especially in technology and emerging fields, is stronger than ever. Student interest is well ahead of universities ability to meet demand when it comes to top-noch disciplines.
Is a Masters Degree worth it?
In general, the best masters degrees for the future can open up a wider array of career opportunities. Masters degrees that are worth it can also lead to increased earnings and higher potential for career advancement. Overall, the value of a masters will likely depend on your field of study and your personal career goals.
