Are you feeling stuck in your current job? Did you notice that someone younger than you getting faster promotions and are feeling helpless?

You are not alone. Thousands of people are in this position. Some of the short term solutions to overcome this situation are to switch employers,

However, one of the long term solutions is to go back to college to gain a master’s degree. Consider these facts -about 3 Lakh potential students are expected to apply for CAT this year. More than 1.5 Lakh students appeared for GATE. The number of Indian GMAT test takers has more than doubled from 6088 in 2001 to 13,324 in 2007. And the number of GRE test takers also runs into the thousands.

There are several reasons why so many Indians are interested in Master’s programs.

1. Education is part of Indian culture. The foremost responsibility of any parent is to provide his/her ward the best available education. The higher one’s education, the larger his/her respect in the society.
2. Many students doing Bachelor’s degree plan to specialize in a particular field. They want to sustain their academic momentum and join a Master’s program immediately after they finish their Bachelor degree.
3. As mentioned earlier, many employees feel that their careers in the competitive workplace are stuck and can progress only if they upgrade their technical or managerial skills.
4. Getting a higher degree is a way to differentiate oneself in the workplace. It also provides flexibility and choice if one wants to move to a different company.
5. People with higher degrees earn more.
6. Some do a Master’s degree to switch careers. One of the most common examples is an IT professional doing an MBA to switch from IT to Business careers.
7. Many people are inspired to do a Master’s program after seeing many of his/her friends successfully complete their Master’s. Peer pressure and “me-too” behavior can also create a desire to go for higher studies.

Even though there are so many positives, there are also some questions that you need to ask yourself while taking a decision as to whether to proceed with a Master’s degree. Some of them are

1. Am I willing to invest significant money in my higher education?
2. Can I afford to take a year or 2 off my career?
3. Can I survive without a salary during that period?
4. Can I dispense my family responsibilities during my studies?

Once you decide that you are ready to go ahead with higher studies, the next step is to decide which area you want to specialize in. Broadly, the choices are Master of Science (MS), Master of Technology/Engineering (M.Tech/M.E), Master of Business Administration (M.B.A), Master of Science in Economics, Public Administration, Accounting, and others.

In my next blog, I will try to help you decide which degree might suit you. Till then, have a great time.

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