Money Motivates Millennials to Pursue Master's Degrees; Passion for Learning Draws Gen Xers

  • By Dian Schaffhauser
  • 10/21/15

Most people pursue advanced degrees primarily for the higher earnings they expect as a result, according to new research from LinkedIn. The professional social network surveyed 15,000 of its members from around the world, and recently issued a report based on a subset of 1,627 people from the United States, including 502 people who intend to pursue a master's degree and 524 people who already possess one or are currently attending master's courses.
 
Fifty-four percent of respondents cited higher salary as their biggest factor in going after a master's degree. Nearly half (48 percent) also noted the need to "up-skill" in order to be successful and referenced a "passion for learning."

However, motivations for those who intend to earn an advanced degree varied widely depending on the age of the respondent. Among millennials — people aged 18 to 34 — 58 percent referenced salary as the main driver. Among Gen X (35- to 49-year-olds), that data point was only 44 percent; the motivation most referenced in the older group was a passion for learning, specified by 48 percent of respondents.

People pursuing master's degrees tend to apply to an average of three institutions, a short list made up before they've ever had contact with any of the schools — at least in 72 percent of cases. Nine times in 10, students will end up going to one of those universities already on the list rather than switching directions.

Their primary influence is the institution's Web site; 55 percent of people said they're guided by that resource in choosing where to apply. That's closely followed by friends and peers, who influence education decisions for 50 percent of people. Information sessions and professional social networks sway decisions for half as many people. However, professional social networks are three times more influential than personal social networks.

University reputation is less important to master's holders and candidates than the faculty quality and program format. Reputation was key for 79 percent of respondents, while instructor quality was picked by 90 percent of people and program format by 83 percent. Tuitions fees were of importance to 71 percent of respondents.

Nearly half (48 percent) of people who intend to pursue a master's degree hope to find a course of study that's local and part-time. Forty-one percent want an online program and 33 percent would be happy with a hybrid face-to-face and online option.

Business is the big deal for this group of respondents: Twenty-seven percent of respondents who intend to earn a degree said that's their choice of subject. Twelve percent specified IT and software engineering.

The results of the study are available on LinkedIn's site (registration required).

About the Author

Dian Schaffhauser is a former senior contributing editor for 1105 Media's education publications THE Journal, Campus Technology and Spaces4Learning.

Featured

  • From Fire TV to Signage Stick: University of Utah's Digital Signage Evolution

    Jake Sorensen, who oversees sponsorship and advertising and Student Media in Auxiliary Business Development at the University of Utah, has navigated the digital signage landscape for nearly 15 years. He was managing hundreds of devices on campus that were incompatible with digital signage requirements and needed a solution that was reliable and lowered labor costs. The Amazon Signage Stick, specifically engineered for digital signage applications, gave him the stability and design functionality the University of Utah needed, along with the assurance of long-term support.

  • cybersecurity analyst in a modern operations center monitors multiple digital screens showing padlock icons, graphs, and a global map with security markers

    Louisiana State University Doubles Down on Larger Student-Run SOC

    In an effort to provide students with increased access to real-world cybersecurity experience, Louisiana State University has expanded its relationship with cybersecurity solutions provider TekStream to launch TigerSOC, a new student-run security operations center.

  • flowing lines and geometric shapes representing data flow and analysis

    Complete College America Launches Center to Boost Data-Driven Student Success Strategies

    National nonprofit Complete College America (CCA) recently launched the Center for Leadership, Institutional Metrics, and Best Practices (CLIMB), with the goal of helping higher education institutions use data-driven strategies to improve student outcomes.

  • geometric pattern features abstract icons of a dollar sign, graduation cap, and document

    Maricopa Community Colleges Adopts Platform to Combat Student Application Fraud

    In an effort to secure its admissions and financial processes, Maricopa Community Colleges has partnered with A.M. Simpkins and Associates (AMSA) to implement the company's S.A.F.E (Student Application Fraudulent Examination) across the district's 10 institutions.