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Masters Degree Tier List (Masters Degrees… RANKED!)

Shane Hummus2020-09-23
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137K views|3 years ago
💫 Short Summary

The video explores the financial implications of pursuing various master's degrees, highlighting the challenges of accumulating debt without adequate income potential. It ranks different career options based on debt-to-income ratios, emphasizing the value of planning and choosing a school with reasonable tuition fees. STEM degrees are favored for their higher returns, while fields like social work may not offer significant financial rewards. The video encourages viewers to consider job requirements and educational investment, especially for high-paying careers that require advanced degrees.

✨ Highlights
📊 Transcript
Master's degree tier list focusing on best and worst degrees from a personal finance perspective.
Students pursuing art-related master's degrees face limited job prospects and increased debt due to job scarcity with bachelor's degrees.
Higher education compared to a pyramid scheme, benefiting only a few at the top.
Acupuncturist and natural medicine doctor degrees evaluated for debt-to-income ratios.
Emphasis on understanding the relationship between debt and income over actual numbers.
Financial challenges in pursuing a career in natural medicine.
The debt to income ratio for natural medicine doctors is 4.6 to 1, with high tuition costs at some schools.
Naturopathic physician's average salary is $75,000, but job availability is limited.
Anecdote highlights difficulties in finding employment in the field.
Advice against accumulating excessive student loans without a clear repayment plan.
Comparison of Salary and Career Opportunities in Academia and Data Science.
Becoming a professor with just a master's degree may lead to an average salary of $79,000, but most professors have doctorates.
Academia is compared to a pyramid scheme due to limited opportunities, but if one achieves tenure, it can be rewarding.
Data science offers good job prospects with a debt-to-income ratio of 1.5 to 1, many data scientists have master's degrees, earning around $122,000 annually.
The field of data science is growing rapidly with 31,000 jobs available, presenting a lucrative career option with ample opportunities for growth.
Overview of Master's Level Degrees
MBA programs are challenging to rank due to numerous options, but pairing with another degree can demonstrate leadership skills to employers.
Master's in education degrees have a high debt-to-income ratio, especially for teachers.
Nurse practitioner programs are comparable to medical doctor degrees with fewer drawbacks.
The segment offers insights on the value and factors to consider when pursuing these master's level degrees.
Overview of High-Paying Healthcare Jobs
Nurse practitioners earn $115,000 annually with 240,000 positions, growing at 26% and offering high job satisfaction.
Occupational therapists make $84,000 a year with 133,000 jobs, growing at 18%, and also have high job satisfaction.
A Master's in psychology could result in an $80,000 annual salary with 181,000 jobs, growing at 14%, but may lead to a 3.2 to 1 debt to income ratio.
Despite the need for mental health professionals, the field may be saturated due to the popularity of bachelor's level psychology degrees.
Different career paths at the master's level are explored, emphasizing the importance of planning and understanding job requirements.
Physician assistants are presented as a lucrative and low-stress option with high job availability and growth potential.
Speech-language pathologists are discussed as providing job security despite lower pay, due to high demand and job satisfaction.
The video stresses the significance of selecting a school with reasonable tuition fees to ensure financial stability in the future.
Importance of Master's Degrees in Technology, Engineering, and Mathematics.
Graduates in these fields often secure high-paying jobs due to the technical skills they possess.
Degrees in liberal arts, social sciences, and humanities may not offer high returns on investment.
Social work and related fields are noted for having low salaries relative to the education required.
The presenter categorizes degrees based on debt-to-income ratios, with STEM degrees being placed in a more favorable tier.
Importance of higher education for straight-A students pursuing higher level careers.
Master's degree may be necessary for advancing in certain career paths.
Encouragement for viewers to engage with the video through likes, subscribes, and comments.
Promotion of checking out other videos by the creator.