MS or PhD?

PS. To understand what the thumbnail represents, https://www.happyschools.com/bachelors-vs-masters-vs-phd/ will be an interesting read.

So, here you are: You have decided to apply to graduate school programs. You like college and the academic environment. You want to further your education. You wish to learn more. You are looking to break into lucrative job markets in distant, foreign shores. So, you have decided to apply for grad school in the field of your choice. While deciding to apply is a start, the specific decisions involved in the process are often quite complicated – none more so than the question of whether to apply to a Masters’ or a PhD program.

Overview of Programs Masters (MS/MSE/MA/MEng)

• Designed to give you a solid foundation in a specialized field

• Generally takes 2 years, although it may sometimes be completed in 1.5 years. Some MEng programs are only a year long.

• Primarily entails coursework and exams. May include internship or thesis as well, depending on specific program requirements.

• Often unfunded, although financial aid is available for many programs.

• Generally considered a stepping stone into the industry or preparation towards a doctoral degree.

• Generally, the MS programs have a research focus whereas the MEng programs are application-oriented specifically designed for future prospects in the industry.

Overview of PhD

• More advanced degree than Masters’, designed to give the student extensive expertise in a specialized field.

• A typical PhD involves 2-3 years of coursework and a dissertation. A dissertation is an independent research project aiming to advance current knowledge in your field and must be of publishable quality.

• May have program-specific teaching and internship requirements

• Typically, PhD programs are fully funded, through one or a combination of fellowships, research and teaching assistantships, etc.

• Open-ended with regards to the date of completion. Depending on field, university and program, the PhD may take anything between 4-7 years. Even then, anecdotal evidence exists of people taking less or more time.

Which Degree Is the Right One to Apply To?

The answer to this question is highly subjective and depends completely on you, the applicant. Finding the answer requires massive amounts of honest introspection and critical thinking. Here are some of the major factors that must be considered while deciding between the two choices:

1. What are your eventual career goals? For certain jobs – for example, if you aim to become a professor, or to join a research position in research labs, a PhD is the minimum requirement. If on the other hand, your aim is to work on new products/services then either a Masters’ or a PhD would be equally fine. Most often students prefer to get absorbed in the industry after an MS but this is a highly personal choice. For applicants with job experience, it is essential that you evaluate your current career growth vs. the job prospects after an MS. Very often the experience of working for 2 years compensates for an MS degree but this highly depends on your long-term goals and whether you want to stay in your current line of work in the future.

2. What works for you? If you are obsessed with investigating new lines of knowledge and have the patience to work through an often-unstructured job, you might wish to consider a PhD If you are just interested in getting a greater knowledge base in a structured, plainly defined way, going for a Masters’ might be the best option for you.

3. Are you willing to devote the time required for a PhD? In order to pursue a PhD, you must be absolutely sure that you wish to devote years together of your life in pursuing the program. The years during your PhD do involve a loss of money-making opportunities since the assistantships, etc. that cover the cost of your education and living aren’t comparable with salaries that one would earn in the industry. A Masters’ program is a much better option for those who are unsure about spending all the time required in a PhD.

Job Prospects

The job prospects after a graduate degree depend largely on your area of interest, the location of your graduate school, your career goals and where you want to work. A graduate degree will almost certainly lead to better job prospects than a bachelors’ degree in terms of compensation, quality of work and job satisfaction.

Above all, we strongly urge you to spend a long time evaluating and introspecting on the true reasons to pursue an MS or a PhD. This would also help you in writing an SOP because an honest SOP with a compelling story can many times cover-up for some glitches in your profile. Also, keep in mind that it is your passion for the subject and your zeal to learn more that should be the driving force behind your decisions. If only getting fatter paychecks cloud your vision of the future, we suggest you introspect further.