A basic university degree may no longer be as attractive to employers now, compared to a decade ago.
According to the Singapore Department of Statistics, over 900,000 Singapore residents aged 25 years and above have attained University Degrees as their highest qualification last year, a 70 per cent increase from 2008.
In an article published in The Straits Times in 2014, it was reported that more undergraduates are taking up Double Degrees and Majors outside their disciplines, in a bid to broaden their knowledge and become more employable.
Hence, it is important to set yourself apart from your competitors to stay on top of the game. One way is to consider enrolling in a postgraduate programme to enhance your knowledge and skills. In particular, a well-regarded Double Master's Degree programme can help to boost your chances of impressing potential employers in future.
However, it is crucial to understand how it can impact your career or your advancement within the company or organisation, before you consider whether it is right for you.
What is a Double Master's Degree programme?
Similar to the traditional Master's Degree programme, the Double Master's Degree is a grade of study above the Bachelor's level that culminates in a dissertation.
It imparts advanced and specialised knowledge, comprising both higher order theoretical and applied topics. The Double Master's Degree programme enables the candidate to concurrently undertake two Master's Degree programmes, either in related or different specialisations. Upon completion, graduates will receive two Master's Degrees, each in the specialised field.
How long do I need to complete my Double Master's Degree?
An average full-time student takes about two years to complete a Master's Degree programme. It is twice as long if the student takes two Master's Degrees separately, in succession.
Pursuing a Double Master's Degree takes as little as 16 months for accelerated learners, to complete. This makes pursuing the programme more cost efficient.
How can the Double Master's Degree boost my career?
Double Master's Degree holders can get a boost in terms of earning potential, career opportunities and a wider network.
According to PayScale, those in Singapore with a Bachelor's Degree reported an average annual wage of $52,000, while those with a Master's Degree (non-MBA) reported $68,000 as their average annual salary. Meanwhile, those who have an MBA earned an average of $102,000 a year.
The Financial Times' Global MBA Ranking 2019 also showed the jump in earnings before and after a person attains the MBA qualification - from 104 per cent increase in earnings to 133 per cent. This makes the Double Master's Degree qualification a compelling factor contributing to a higher earning potential.
Having a Double Master's Degree qualification also demonstrates your strong work ethos to potential employers, especially when it comes to the pursuit of knowledge, self-development, discipline and determination. By studying two specialised fields, you will gain broader insight into various industries on overarching topics. The Master of Business Administration, for instance, is a well-rounded programme that is further enhanced when paired with a Master's Degree in a more specialised field.
In addition, you can expect to build new and extensive networks that may lead to new business or career opportunities. You might meet bright and like-minded individuals with whom you can collaborate or start a venture with.