The right associate's or master's degree could pay you back in time and in marketable skills to boost your career.
School is a huge investment of time and money, not to mention the
sweat and tears. But what if you could cut your time invested in half,
while still setting yourself up to reap financial benefits?
While not all degrees will deliver on both fronts, there are several
programs that could take as little as two years and give you a leg up on
pursuing a career that pays well. Whether you are ready to change jobs
or go after that promotion, these associate's and master's degrees offer
valuable skills in a reasonable timeline.
Keep reading to learn about seven programs that could pay off big down the road.
Degree #1: Associate's in Nursing
Looking for a degree that could offer rewards in more ways than one?
In as little as two years, an associate's in nursing could prepare you
to go after a high-paying career in nursing.
As for what you'll study in a nursing program, the College Board, a
non-profit organization that promotes higher education, says you might
take courses like pathophysiology, anatomy and physiology, and
pharmacology. You'll also learn how to examine patients and how to
design a plan of care.
Payback Potential*: Beth Jorgensen, a career
counselor with Talent Curve, a career and education guidance company,
also sees value in this degree. Although she says some employers prefer
four-year degrees, an associate's degree in nursing could help you land a
high-wage nursing job because the field has more open positions than
qualified applicants. And here's what it comes down to: "You have a
better chance of getting a decent-paying job without experience," she
says.
And according to the U.S. Department of Labor, in addition to a
license, an associate's degree in nursing is one path to pursuing a
career as a registered nurse.
Next step: Click to Find the Right Nursing Program.
But how big is the payback potential for this career? Well, according
to the Department of Labor, registered nurses report a median annual
salary of $65,470. The bottom 10 percent earn $45,040, and the top 10
percent earn $94,720.
Degree #2: Master's in Education Leadership
Already working in education and looking to move up - in salary and
responsibility? A master's degree in education administration could help
you reach that payoff - in as few as two years.
Educational administration majors learn how to serve as school
principals and may take courses that focus on how to supervise teachers,
according to the College Board. And that knowledge could provide an
advantage if you're pursuing a high-paying management role like an
elementary school principal.
Payback Potential: This degree is valuable to an
employer because it signifies that you are prepared to handle the
administrative duties of the role, Jorgensen says. What kind of role,
exactly? Well, according to the U.S. Department of Labor, a master's
degree in education administration or leadership is required of most
elementary school principals.
The degree could also prepare you to handle a bigger paycheck.
Education administrators see a median annual salary of $87,760,
according to the Department of Labor. The top 10 percent earn $130,810,
and the bottom 10 percent makes $58,530.
Degree #3: Master's in Counseling
If you love helping people work out their problems and have already
received a bachelor's degree in psychology, this graduate degree could
provide a stepping stone toward a higher-paying career.
In a counseling psychology program, your courses might cover topics
such as child, marital, and family therapy, according to the College
Board. You could also expect to learn how to provide counseling
individually or in groups.
Payback Potential: As for employers, this degree is
attractive for the occupation-specific training it offers, Jorgensen
says. What kind of occupations? According to the U.S. Department of
Labor, a master's degree in counseling or marriage and family therapy is
required to practice as - you guessed it - a marriage and family
therapist. A state license is also needed.
Next step: Click to Find the Right Counseling Program.
And what does the ultimate payoff look like? Marriage and family
therapists take home a median annual salary of $46,670, according to the
Department of Labor. The top 10 percent make $75,120, while the bottom
10 percent make $25,540.
Degree #4: Associate's in Dental Hygiene
If you're a detail-oriented people-person, this degree could help you
pursue a high-paying gig where you can put those traits to work - on
teeth. The best part? You could pick up this degree in as few as two
years.
In an associate's program in dental hygiene, you could learn how to
care for teeth and gums and how to treat tooth decay and oral disease,
according to the College Board.
Payback Potential: Employers value the knowledge
that the degree provides, but also the hands-on experience that most
programs include, Jorgensen says. And armed with that knowledge and
experience, you could be ready to pursue a career as a dental hygienist.
According to the U.S. Department of Labor, dental hygienists typically
need an associate's degree in dental hygiene, in addition to being
required to have state licensure.
As for monetary payoff, the median annual salary of dental hygienists
is $70,210, according to the Department. The top 10 percent make
$96,280, while the bottom 10 percent make $46,540.
Degree #5: Associate's in Diagnostic Medical Sonography
Would you like to find a way to help people, and maybe help out your
checkbook at the same time? An associate's degree in diagnostic medical
sonography could point you in the right direction - all in as few as two
years.
Common courses include medical terminology, abdominal and obstetrical
sonography, and ultrasound physics, according to the College Board.
Payback Potential: Because this is a technical,
machinery-focused occupation, employers value the degree's job-specific
training, Jorgensen says. And according to the U.S. Department of Labor,
formal education, such as an associate's degree or postsecondary
certificate, is needed to pursue this career. Most employers prefer
those with professional certification as well.
But the formal education could be worth it. Diagnostic medical
sonographers report a median annual salary of $65,860, according to the
Department of Labor. The top 10 percent make $91,070, while the bottom
10 percent make $44,990.
Degree #6: Associate's in Health Information Technology
Looking for a new career with payoff potential and a bright future?
An associate's degree in health information technology could get you on
your way by prepping you to pursue a good-paying field that's in its
infancy.
In this program, you might take courses like introduction to coding,
health care statistics, medical terminology, and computers in health
care, according to the College Board.
Payback Potential: This degree is valuable to
hospitals and other health care facilities simply because the field is
so new, Jorgensen says. Which means the degree can make up for the lack
of experience that's common among applicants, she adds.
More specifically, this degree might prepare you to pursue a career
in the field as a medical records and health information technician.
According to the U.S. Department of Labor, these professionals are
usually required to have certification, although an associate's degree
may also be acceptable.
The payback potential looks strong, too. Health information
technicians see a median annual salary of $34,160, according to the
Department of Labor. The top 10 percent make $56,200, while the bottom
10 percent make $22,250.
Degree #7: Master's in Business Administration (MBA)
If you have your sights set on a lucrative career in business,
spending a couple years pursuing a master's in business administration
could make sense. And you may only need as few as two years to do it.
An MBA aims to provide a broad overview of the main areas of business
and offers courses in management, finance, and decision sciences,
according to the Princeton Review, an organization that provides testing
resources for students applying to college and graduate school.
Payback Potential: Employers value an MBA because it
provides knowledge of the broader business world, Jorgensen says. And
with broader knowledge, comes broader opportunities. Financial analyst
is just one of the positions that employers might expect an MBA to fill.
According to the U.S. Department of Labor, financial analysts typically
have a bachelor's degree, but employers often require an MBA or
master's in finance.
Next step: Click to Find the Right MBA Program.
And as for pay, financial analysts see a median annual salary of
$76,950, according to the Department of Labor. The top 10 percent make
$148,430, while the bottom 10 percent makes $47,130.