degree<\/a> in academics that can be conferred, and it is also the 3rd and last stage in the development of higher education.<\/span><\/p>\nDoctoral degrees are awarded by completing an important, independent, and innovative body of research (a Thesis) which contributes knowledge on a specific research topic.<\/span><\/p>\nResearch degrees require major investments of an individual’s time, money, and energy and are required for anyone considering the academic field, which could lead to becoming a professor.<\/span><\/p>\nThere are exceptions to this; for instance, those with a medical background could be awarded the title of MD (Doctor of Medicine), equivalent to the degree of Ph.D.<\/span><\/p>\nDoctoral degrees also can substantially benefit career advancement outside of academia, specifically in areas such as finance, engineering, and business, which have a huge demand for highly skilled and competent individuals.<\/span><\/p>\nA graduate student engaged in the Ph.D. program is usually referred to as a Ph.D. student doctoral candidate or Ph.D. candidate.<\/span><\/p>\nWhat Are The Benefits Of A Master’ Degree?<\/span><\/h2>\nThere are various reasons why you could consider pursuing a Masters’s degree instead of a Ph.D. in graduate school. This includes:<\/span><\/p>\n\n- It will take around one-third of the time compared to a doctorate and is priced lower too.<\/span><\/li>\n
- It’s a great method to distinguish yourself from people with just an undergraduate diploma without an extensive research degree.<\/span><\/li>\n
- The ultimate goal is more focused on your career rather than research-oriented. It is the most straightforward way to change or advance your career when it is aligned with your goals in the workplace.<\/span><\/li>\n<\/ul>\n
What Are The Benefits Of Doing A Ph.D.?<\/span><\/h2>\nYou can continue to an advanced doctoral program following a Masters or begin after finishing your undergrad studies. So what is the benefit of doing this third cycle?<\/span><\/p>\n\n- You’ll be able to develop a range of transferable abilities during graduate school, including the ability to communicate complicated concepts, multitask and time management, and adjust to new challenges and solve them.<\/span><\/li>\n
- Doctoral degrees help establish yourself as an expert in your chosen field, and your research will enrich your knowledge of this area.<\/span><\/li>\n
- It could open up opportunities for career paths and teaching positions in academia that could otherwise be difficult to obtain (although these career paths are still highly competitive).<\/span><\/li>\n
- You can also add the title “Dr” in the middle of your name!<\/span><\/li>\n<\/ul>\n
Which Degree Is More Impactful: A Master’s Or A Ph.D.?<\/span><\/h2>\nIn writing, it must be simple: Doctoral degrees are the most prestigious degree you can get, and, therefore, will have more impact than a master’s and, in turn, is more influential than a bachelor’s degree.<\/span><\/p>\nThe truth is that its influence (if any) depends on the area of study and the path you decide to take (if the impact is measured by how it improves your job prospects).<\/span><\/p>\nIf you are a person who dreams of becoming a professor, getting a Ph.D. will have more worth than the Masters by itself.<\/span><\/p>\nAdditionally, anyone with a Ph.D. in a different area or one that does not require a Ph.D. might discover that their Ph.D. isn’t relevant to their job prospects or, in some circumstances, could be seen as negative and viewed as a candidate being overqualified for the job. There are numerous instances where experience gained from professional work could be more valuable to employers than a doctoral degree.<\/span><\/p>\nFind the links below to our interview featuring Dr. Debby Cotton and Dr. Nikolay Nikolov to learn about their experiences about when a student in a Ph.D. program has provided evident benefits (Prof. Cotton) and when it wasn’t (Dr. Nikolay Nikolov).<\/span><\/p>\n