An increasing number of Americans are earning master’s degrees,* which means an increasing number of people are facing the question: what’s next for me? If you are like many others who are earning their master’s, you may be considering whether to continue on and earn a doctoral degree. Would the work you put into earning a doctorate be worth it? It definitely can be.
A PhD degree is a terminal degree, meaning no one in your field will be better educated than you. Additionally, putting a PhD on your résumé indicates to employers that you have advanced skills and a work ethic strong enough to have carried you through your degree.
One of the most valuable skills a PhD degree can help you acquire is critical thinking. Critical thinking has been rated as the top skills desired by employers.† The second most in-demand skill is complex problem solving, another skill a PhD program can help you acquire. For these and other reasons, PhD holders have an unemployment rate of just 1.7%, lower than the rate for those who hold master’s degrees.‡
Earning a PhD degree can put you in position to earn more over your lifetime than you would earn with just a master’s. In fact, according to the U.S. Census Bureau, those who hold a PhD degree typically earn $900,000 more over a lifetime of full-time work than do those who hold only a master’s degree.§ Needless to say, that’s a significant difference.
Devoting a portion of your life to learning can be about more than your career. Scientific studies have shown that lifelong learning—such as continuing your education to earn a PhD degree—can lead to an enriching life of self-fulfillment.**
In the past, earning a PhD degree usually required you to live near whatever university accepted you into their program. Then you had to devote 100% of your time to earning your degree. Thankfully, online learning has changed the paradigm.
Through an online PhD program you can earn your doctoral degree without uprooting your life. An online PhD is just as rigorous as a traditional campus-based program, but is much more flexible and convenient. You can complete the majority of your coursework from home and you can continue working at your job.
There are plenty of reasons to continue on from your master’s degree and earn your PhD. Thanks to online colleges, taking your education further is more possible than ever before.
Walden University is an accredited institution offering online doctoral programs. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.
*J. Davis, Beyond a Bachelor’s Degree: Big Gains for Graduate School Attainment, United States Census Bureau blog, on the Internet at http://blogs.census.gov/2014/02/04/beyond-a-bachelors-degree-big-gains-for-graduate-school-attainment.
†M. Casserly, The Top 10 Skills That Will Get You Hired in 2013, Forbes, on the Internet at www.forbes.com/sites/meghancasserly/2012/12/10/the-10-skills-that-will-get-you-a-job-in-2013/#325d322a664b.
‡Bureau of Labor Statistics, U.S. Department of Labor, Employment Projections, Earnings and Unemployment Rates by Educational Attainment 2015, on the Internet at www.bls.gov/emp/ep_chart_001.htm.
§J. Day and E. Newburger, The Big Payoff: Educational Attainment and Synthetic Estimates of Work-Life Earnings, Figure 3, U.S. Census Bureau, on the Internet at www.census.gov/prod/2002pubs/p23-210.pdf.
**M. Laal, Benefits of Lifelong Learning, Procedia—Social and Behavioral Sciences, Vol. 46, on the Internet at www.sciencedirect.com/science/article/pii/S1877042812019751.
Walden University is accredited by The Higher Learning Commission, www.hlcommission.org.