Taking a Masters degree could improve your pay prospects

There’s an ongoing debate about whether staying on and taking a Masters degree, particularly a Masters in Finance, will increase your career prospects within the financial sector.

The average tuition fees for an MA in the UK are £4k, while most Masters in Finance between £20-30k. It’s expensive, and for such a monetary outlay, you’d expect a decent return. Figures from our 2011 compensation survey suggest that a Masters definitely enhances your earning potential.

On average, respondents with a Masters earning a total compensation of £121k, compared to £95.4k for those with a graduate degree – or 22% more. Going one step further and taking a PhD, which in the financial sector usually implies working in a quantitative role, means average compensation of nearly £180k, suggests our survey.