Although there are several types of degrees that can be obtained in a graduate school, the most common are the master's degree (doctorate) and doctorate (Ph.D. and others). These degrees vary in level, and time to completion, and more. Let's look at each one.

Master's Degrees

A master's degree usually takes two, sometimes three, years to complete (after obtaining a bachelor's degree). All master's programs include courses and exams, and, depending on the field, an internship or other applied experience (for example, in some fields of psychology).

If a thesis is required to obtain a master's degree, it depends on the program. Some programs require a written thesis, others offer a choice between a thesis and a complete exam. An important way in which master's programs differ from many doctoral programs is the level of financial aid available to students. Most programs do not offer help to masters students as well as doctoral students.

The value of the degree of mastery varies according to the field. In some areas such as business, a master's degree is the undeclared standard and necessary to climb. Other fields do not require advanced degrees for professional advancement. In some cases, a master's degree may have advantages over a doctoral degree. For example, a master's degree in social work can be more profitable than a PhD given the time and funds needed to obtain the degree and the difference in payment.

Degrees of Doctor

A PhD degree is a more advanced education degree, but it takes more time (often much longer). Depending on the doctoral program, it could take four to eight years to complete. Some fields, such as applied psychology, also require an internship of one year or more.

Most doctoral programs offer various forms of financial aid, from scholarship grants to loans. The availability and forms of help vary by discipline (for example, those in which the faculty conducts research sponsored by major donations are more likely to hire students in exchange for reduced enrollment) and by the institution. Some students in some doctoral programs earn master's degrees along the way.

Which degree is better?

There is no easy answer. It depends on your interests, field, motivation and professional goals. Read more about your field and consult the faculty advisors to find out more about which option will best suit your career goals.

Final considerations:

  1. What types of jobs do people have with a master's degree and doctorate?
  2. How much will each grade cost? How much will you earn after you get each grade? Is the result worth the cost?
  3. Will a PhD give you a substantial benefit in your employment opportunities?
  4. The Masters and Doctorates certainly differ, with advantages and disadvantages in each one. Only you know what is the right grade for you.
  5. Take your time and ask questions, then weigh carefully what you will learn in each grade, your opportunities, as well as your own needs, interests and competencies.