Experts say the growing number of graduate programs has reduced the value of many master’s degrees
A master’s degree no longer guarantees better job opportunities for young professionals in the US.
New research from the Burning Glass Institute, based on Bureau of Labor Statistics data, shows unemployment among workers under 35 with master’s degrees has climbed to one of its highest levels in two decades.
Meanwhile, unemployment for people with Ph.D., law, or medical degrees remains low.
Experts say the growing number of graduate programs has reduced the value of many master’s degrees.
Universities increased master’s programs by 69% between 2005 and 2021, with many new courses focused on artificial intelligence, healthcare, and data science.
At the same time, employers are shifting toward skills-based hiring instead of focusing on degrees. Many companies now want candidates who can perform the job immediately, especially as AI changes workplace demands.
Some graduates still see value in networking, career support, and personal growth, even as finding jobs becomes more difficult.