5 graduate degrees that are worth it

Not all graduate degrees are created equal. Here are five degrees that could be worth your time and effort.

By Andrea Duchon

Grad school may just seem like a safe haven from a dire economy and disappointing job search. But in the right field of study, a graduate degree can greatly increase your career prospects in certain fields. In fact, the Georgetown Center on Education and the Workforce just released their annual study, "Hard Times: College Majors, Unemployment and Earnings," that outlines careers where a graduate degree significantly improves your chances of being employed post-graduation.
We've analyzed the Georgetown study and pulled together information about five grad degrees where employment increases by at least four percentage points from just having a bachelor's in the same field.
Ready to learn which grad degrees may be worth your time and money? Keep reading.

Unemployment Rate for Recent College Graduates*: 9.2 percent
Unemployment Rate for Grad Degree Holders*: 3.6 percent
It's common knowledge that the majority of psych undergrads need to earn a grad degree in psychology if they hope to ever pursue a career as a psychologist. But even if you don't want to pursue a career as a psychologist, a graduate degree in psychology still makes you more employable, according to the Georgetown study.
Why are employers more willing to hire you if you take the extra educational step?
"The knowledge gained in a psychology graduate degree is a platform for many different careers," says Michael Provitera, career expert and author of the book "Mastering Self-Motivation." He adds that many students who earn this degree will gain a solid skill set that they can build upon when they are on job.
"While the field is competitive and advanced degrees may be necessary, this major can provide graduates with a foot-in-the door that can lead to a rewarding career," Provitera says.
Next step: Click to Find the Right Psychology Program.
Michael Detzel, associate director of the online college at the College of Mount St. Joseph in Cincinnati, Ohio, says that most of the more traditional jobs in the field, such as counseling and social work, do require you to have a master's degree in psychology.
Whether students want to pursue a traditional or more unconventional line of work, they will be playing a vital and hands-on role in their own education, adds Detzel. "While undergraduates in psychology follow a traditional course of study, graduate students often have the autonomy to contour their curriculum and internship experiences," he says.
So an advanced degree in psychology could help propel a candidate into their desired field of expertise post-graduation, according to Detzel.
Typical Courses**: Psychopathology, child development, cognitive behavior therapy, and behavioral medicine

Unemployment Rate for Recent College Graduates: 8.8 percent
Unemployment Rate for Grad Degree Holders: 3.6 percent
Have you always loved numbers and organization? Then perhaps you want the challenge and satisfaction of earning an advanced degree in a field like accounting. You're in luck, because students who earn a graduate degree in accounting have a promising job outlook after graduation.
"One of the hottest grad degrees today is accounting," says Provitera, "because knowledge of accounting offers a broad spectrum of opportunity." He adds that the degree is not industry-specific, which means that graduates of this master's program can work in a host of various industries.
Detzel adds that accounting has always been a safe field to enter. "Even through the recent recession, accounting positions remained steady." He adds, however, that the field of accounting places a premium on education, so the more education you have as an accountant, the higher your potential earnings and the greater the odds of advancement down the line.
Next step: Click to Find the Right Accounting Program.
Employers often seek accountants with a master's degree, because they have developed the skills necessary to work their way into upper management, Detzel explains.
Typical Courses: Corporate taxation, financial accounting and reporting, accounting principles and practices

Unemployment Rate for Recent College Graduates: 8.7 percent
Unemployment Rate for Grad Degree Holders: 3.6 percent
Unless you live under a rock, you've probably noticed that the number of computer-related careers has skyrocketed as our society moves further into the digital realm. But that's not the only reason earning an advanced degree in computer science may be a good idea. You should also consider that earning a grad degree in this field gives you an advantage in employability over those with only a bachelor's degree in the same field.
Plus, the experts agree that this advanced degree can only improve your chances for success in your professional life.
"Graduates with computer science degrees can catapult themselves into the mix of high-tech products and services," says Provitera. Employers value advanced knowledge and education in this field, he explains, since the field is constantly changing with new, extensive software developments.
Next step: Click to Find the Right Computer Science Program.
Often, though, Detzel says that many job seekers assume a graduate degree isn't necessary because of the abundance of jobs in the computer science field.
"While it is true that an effective programmer can enter the field with an undergraduate degree, many of these people will find that their careers will stall out at low-to mid-level management," he says.
"Employers know that an advanced degree in computer sciences offers the bearer not just a better grasp on the more advanced mathematical aspects of computer science, but also provides them with the basic management practices and interpersonal skills which are essential to moving into upper management," adds Detzel.
Typical Courses: Programming in Java, concepts in programming language, and discrete mathematics
Potential Career: Software Developer
Usually, software developers have a bachelor's degree in computer science and strong computer-programming skills, as noted by the U.S. Department of Labor. For some positions, they also state that employers may prefer a master's degree.

Unemployment Rate for Recent College Graduates: 7.6 percent
Unemployment Rate for Grad Degree Holders: 2.8 percent
When you take a look at the careers that will really impact the next generation, it's impossible not to stop at education. It makes sense then that the field of education would put an emphasis on, well, more education. In fact, those with a grad degree in general education have an unemployment rate that is 4.8 percentage points lower than those with just a bachelor's.
Why do employers value the additional education?
This is all about setting the right precedent for the education field, notes Provitera: "Today, graduates need to read, write, present, and have a good handle on history. General education can build the skill set necessary for a lifelong career."
Next step: Click to Find the Right Education Program.
"Where other advanced degrees focus only on one or two areas of subject expertise, an advanced degree in general education allows the earner to become proficient in an assortment of subjects," adds Detzel. "Additionally, many students do earn licensures with their master's degrees. These allow the teacher to prove they are experts in an area of defined specialization."
A master's degree also showcases a valuable asset that teachers should have, according to Detzel. He explains that employers appreciate this degree, because it shows that an individual has the ability to be flexible in various environments, which is a highly sought after commodity in today's job market.
Typical Courses: Multicultural and global education, methods and materials in literacy education, and educational psychology.
Potential Career: Elementary School Teacher

Unemployment Rate for Recent College Graduates: 8.9 percent
Unemployment Rate for Grad Degree Holders: 4.1 percent
While it's true that you can pursue a career as a police officer or a detective without a graduate degree, you might need a graduate degree to pursue ambitions of climbing higher in the field. And if you're looking at the numbers, you'll also see that a grad degree in this field is worth it because the unemployment rate drops 4.8 percent for those with advanced schooling.
Wonder what the experts have to say?
Similar to psychology, Detzel says that many of the most sought out jobs in this field will require an advanced degree. "Without this degree, applicants cannot be employed in the most popular criminal justice careers, including as criminologists, forensic psychologists, criminal profilers, or teachers."
Next step: Click to Find the Right Criminal Justice Program.
Provitera adds that an advanced degree in this subject could help with your career aspirations, also evidenced by the drop in unemployment among grad degree holders.
"Criminal justice is a graduate degree that opens doors, because the skills learned can enhance many career choices. Cities large and small continually look for new graduates that can help in the acquisition, facilitation, apprehension, court system, and incarceration," he reports.
Typical Courses: Contemporary criminal justice system, development of correctional philosophy, and criminal law
Potential Career: Probation Officer

* All unemployment rates come from the Georgetown University's Center on Education and the Workforce 2013 study "Hard Times: College Majors, Unemployment and Earnings." Unemployment rates for recent college graduates refers to bachelor's degree holders between ages 22 and 26 and graduate degree holders (those with master's degrees or higher and are between 30 and 54).

** Typical courses listed come from The Princeton Review, a not-for-profit membership organization committed to excellence and equity in education. Coursework for criminal justice comes from the Academy of Criminal Justice Sciences.

*** All potential careers listed from the 2013-2014 U.S. Department of Labor Occupational Outlook Handbook. The Department of Labor cites the associated degrees as common, required, preferred, or one of a number of degrees acceptable as preparation for the potential career. In some instances, candidates might require further schooling, professional certifications, or experience, before being qualified to pursue the career.

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