Should You Get a Second Master’s Degree? A Graduate Student’s Guide
Having two master’s degrees can afford you greater professional opportunities, whether it’s pivoting to a new industry or working toward a leadership position. Unlike dual master’s degrees, a second master’s degree offers deep, focused learning and flexible scheduling built around your full-time job.
With this guide from Monroe University’s King Graduate School, learn how obtaining another master’s degree can open up a new pathway for your career.
Can You Have Two Master’s Degrees?
Yes, it is possible to hold two master’s degrees, and there are several reasons to consider it. Having two degrees allows you to pursue more than one academic field and qualify for better roles. With more expertise and a broader knowledge base, you’ll become a top candidate for higher-paying jobs. You can also use your second degree to enter a new industry without having to start from scratch.
What Is a Dual Master’s Degree?
A dual master’s degree, or double master’s, is earned when you study two distinct graduate programs simultaneously. The degrees could be in complementary fields, which may allow you to complete them in less time than if you completed them individually.
Dual Master’s Degree vs. Second Master’s Degree
Compared to a dual master’s program, earning a second master’s degree involves completing one graduate program first, then enrolling in a second graduate program later in your career.
So, which option is better? While pursuing two master’s degrees at once in a dual-degree program might seem like a shortcut, these programs typically lead to academic burnout. You have to juggle two sets of coursework simultaneously, which splits your attention and diminishes your ability to fully immerse yourself in the educational experience.
When you pursue a second degree later, instead of choosing an accelerated dual program, you benefit from the opportunity to work in your field and explore what it entails. Then, you can bring that real-world training back into the classroom with greater clarity about your professional goals.
Doctor of Philosophy (PhD) vs. Second Master’s Degree
Most students think about the next step after earning a master’s, and their minds go straight to pursuing a doctoral degree. Master’s degree programs ensure that students gain specialized skills and tools for a wider variety of future careers.
Doctoral programs, on the other hand, are intended to be self-contained research projects. These projects aim to confirm a solution to a single issue. PhD candidates typically focus on independent theoretical research.
Here are some other key differences between pursuing a PhD and a second master’s:
- Time Commitment: A master’s program is flexible and can be completed within one to two years. Meanwhile, a doctoral program is full-time and can take anywhere from three to six years to complete.
- Career Trajectory: Master’s programs emphasize the application of practical skills and expand your professional options. With a PhD, your specialty narrows down while your depth of knowledge increases.
- Flexibility: There are plenty of master’s programs that are fully online, part-time, or hybrid to accommodate working professionals. In comparison, doctoral programs typically require on-campus residency and in-person participation.
What Are the Benefits of Getting a Second Master’s Degree?
Pursuing a second master’s degree provides a number of advantages, including:
- Career Advancement: When you pair two areas of expertise, you position yourself for roles that draw on your specialization and knowledge.
- Switching Industries: With a second master’s degree, you can transition into a different sector, such as business, public health, or public administration, without retaking prerequisites or starting over at the bottom of a new industry ladder.
- Personal Growth and Specialization: A second master’s degree allows you to distinguish yourself from other subject matter experts within your discipline. You’ll stand out as a candidate for distinct job opportunities and add another level of knowledge to your skill set.
- Pace and Flexibility: With part-time, hybrid, and fully online programs, you can complete your second master’s degree at your own pace. You’ll have the option to advance your education without sacrificing your career and other life responsibilities.
Second Master’s Degree Pathways
Pairing complementary graduate credentials expands your career trajectory and increases your earning potential. Here are some of the pathways that are popular among graduate students.
Online or Hybrid Master’s Degree
Online or hybrid master’s programs allow you to pursue advanced education without putting your career on hold. Designed for working professionals, these flexible graduate programs are available part-time, in the evenings, or on weekends. Some programs are asynchronous, so you can complete your degree at your own pace.
MBA as Second Master’s Degree
If you have a Master of Science (MS) in a technical field and wish to improve your managerial abilities for personal development, you could pursue a Master of Business Administration (MBA) following your MS. An MBA can help you advance your career and find better professional roles. If you’ve climbed the ladder in computer science, for example, and you’re ready to learn more about business management, then you may benefit from the MBA in Business Management, Analytics, and Information Technology. This highly specialized STEM (science, technology, engineering, and mathematics) degree from Monroe can add value to your resume by equipping you with in-demand analytical skills.
International Second Master’s Degree
As an international student, earning a second master’s degree in the United States allows you to build a professional network, extend your academic stay, and broaden your career options in the U.S. The STEM-designated programs at Monroe University also offer hands-on Practical Training opportunities to provide you with real-world experience. Your educational degrees can add value for you and your future employers, no matter where you choose to work in the world.
How to Apply for a Second Master’s Degree Program
Even if you’ve already earned a graduate degree, navigating a new master’s program application can still feel intimidating, and having a clear roadmap can go a long way. To apply for a second master’s program, you’ll want to follow these general guidelines:
- Choose an accredited institution with flexible master’s programs and degree pathways, such as Monroe University’s King Graduate School.
- Carefully review admissions requirements to evaluate what you need.
- Submit an application online along with any required documents (transcripts, personal statements, test scores, or letters of recommendation).
Prepare to schedule an interview with the graduate school and discuss your career aspirations or educational goals.
Financing Your Second Master’s Education
If you want to pursue your second master’s degree but are worried about the costs, taking out a loan for your second master’s might be the solution. Check out some of the most popular financing options:
- Direct Unsubsidized Loans (Federal Direct Stafford Loans): The maximum amount that may be borrowed with a Direct Stafford Loan is capped at an annual amount per person. As long as you don't go over the limit, you have the opportunity to get a loan for a second master’s degree.
- Private Student Loans: A private loan for a second master’s degree may be a viable alternative if you don’t qualify for federal student loans.
- Scholarships and Assistantships: Almost all colleges have a scholarship system in place to recognize and reward their most deserving students, as well as those who need financial assistance. Assistantships may cover a portion of university tuition costs through a taxable stipend.
- GI Bill: A set of benefit programs designed to assist veterans and active-duty military personnel in obtaining an education. The program also assists certain veterans’ family members in obtaining financial assistance for their education or professional training.
Many universities provide financial aid guidance to students. At Monroe University, we offer affordable advanced degree programs at the King Graduate School, and once you’ve been accepted, you’ll have access to personalized financial aid services. We’ll pair you with one of our counselors to walk you through a realistic plan to fund your graduate education.
Frequently Asked Questions About Having Two Master’s Degrees
Is getting a second master’s degree worth it?
When it comes to higher education, professionals with two master’s degrees have more options. Pairing specific fields allows you to deepen your expertise. You can also use your second degree to pivot into a new industry.
Will FAFSA pay for a second master’s degree?
Graduate students are not eligible for need-based subsidized loans but may be eligible for unsubsidized direct loans and work-study programs. We encourage graduate students to apply for the Free Application for Federal Student Aid (FAFSA) to determine eligibility for financial aid. Keep in mind that federal unsubsidized loans have aggregate borrowing limits. Reach out to a financial aid advisor at your institution for more information.
Should I pursue a PhD or a second master’s degree?
If you’re hoping to devote time to a singular research project over the course of several years, then a doctoral program may be best for you. But if you’re interested in expanding your career options, adding to your expertise, or pivoting into a new industry, then a second master’s degree may be more beneficial.
Can you do two master’s degrees at once?
Yes, dual master’s programs allow you to earn two degrees at the same time. But studying two fields simultaneously often splits your focus. You’d be completing two types of coursework to obtain dual master’s degrees. Most working professionals find success in pursuing master’s degrees one at a time. This approach provides the opportunity to gain work experience between degree programs while maintaining a work-life balance.
Can I earn my second master’s degree online?
Yes, many institutions offer master’s degree programs online. Some may be fully online; others may require attending in person once a month. We recommend you search for programs structured for working adults that allow greater flexibility to study from anywhere without pausing your career. Monroe University, for example, has 13 online and hybrid master’s programs through Monroe Online. These versatile options make earning a college degree that much more achievable within your personal schedule.
Pursue Your Second Master’s Degree at Monroe University Today
You’ve already proven you can master a field. Now, it’s time to expand your horizons. At Monroe University, we offer second master’s degree pathways that work for your schedule. Programs at our King Graduate School combine real-world learning with flexible course formats to support your success.
With competitive tuition and virtual classes, you’ll gain valuable knowledge at the graduate level and stand out in the competitive job market. Explore your educational opportunities at Monroe and apply for a second master’s degree program today.
Curious about what our Monroe Mustangs have to say? Our alumni frequently highlight how our supportive community, hands-on career resources, and online programs helped them achieve their professional goals. Read their success stories to learn more.