PhD vs Master’s: What You Need to Know
Updated on 15 March, 2024
Kanika Pruthi
Sr. Content Writer & Study Abroad Expert
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The PhD vs Masters question bugs many young aspirants with bachelor’s degrees. Now that you have an undergraduate qualification, which is the best option out of the two? It may get confusing, since some PhD programs accept students with bachelor’s degrees. Alternatively, many students first complete master’s courses before applying for PhDs.
Table of Contents
Here is a guide to the core differences and how they align with your career/academic objectives.
PhD vs Master’s Courses- Highlights
Here are some key-highlights worth mentioning with regard to the differences between PhD and master’s programs.
Parameter | Master’s | PhD |
Duration | Usually 1-2 years | Usually 3-7 years |
Pre-requisites | Bachelor’s degree | Usually master’s degree although some may accept bachelor’s degrees |
Structure | Coursework with electives Research project for some master’s programs | Coursework with independent research and dissertation |
Career Prospects | Career-oriented degrees which prepare aspirants for higher leadership positions | Transitioning career towards research and academics and sometimes preparation for top leadership positions |
Costs | Tuition fees may cross $100,000 for two-year full-time courses. They usually range between $20,000-45,000 per year | May exceed master’s course costs ranging between $28,000 and $55,000 per year. |
Average salary | $80,000-139,000 per year | $106,000 per year |
PhD vs Master’s - Content and Coursework
Here are some core differences between master’s and PhD programs in this category.
Master’s Programs-
- Some types of degrees include MA, MFA, MSc, MRes, MM, MBA, MPA, MPH, MSW, MArch, MEng, and MEd.
- These degrees offer qualifications that certify expertise and knowledge at a higher level in any chosen discipline.
- Every master’s program has its own courses required for graduation.
- Master’s programs also have elective courses that students may choose as per their interests.
- These courses may require a thesis if they are research-based. At the end of such courses, students have to undertake research on any specific topic and write a thesis that showcases their findings.
- Examinations are required for graduating.
PhD Programs-
- Doctoral or PhD (Doctor of Philosophy) degrees are offered.
- These are research degrees, where students undertake research work on any aspect and then transform the same into a dissertation or thesis at the conclusion of the course.
- This has to be presented to an expert panel where students may defend their findings and answer questions.
- PhD programs involve coursework required by the university.
- Outside coursework, students have to do research independently after choosing a topic with their advisors.
- Doctorate programs usually include examinations for testing the knowledge of students.
- A dissertation has to be written about the findings of research projects and presented to a committee.
PhD vs Masters - Cost
Master’s program costs may vary across universities, depending on the location and subject. However, they are more affordable than PhD programs which require more time to complete and require a mix of both coursework and independent research. However, some PhD programs may offer stipends for researchers which may help cover tuition costs and living expenditure. On average, master’s courses may require anywhere around $20,000-45,000 per year. PhD programs, on the other hand, may require anywhere between $28,000-55,000 per year.
PhD vs Masters - Application Process
The application process varies for master’s programs. You have to apply mostly on the official websites of universities by filling up the requisite forms and submitting documents like your educational transcripts, recommendations and references (if required), proof of funds, English language proficiency (if required), and so on. For PhD programs, you have to apply online at the websites of universities after selecting your area of research and contacting potential supervisors. You should also submit your application after checking the funding options that are available.
PhD vs Masters - Eligibility Criteria
The eligibility criteria for both master’s and PhD programs vary across universities. However, here are some of the general criteria for both.
Master’s Courses:
- Bachelor’s degree or international equivalent.
- English language proficiency
- GRE/GMAT scores if required
PhD Courses:
- Statement of Purpose
- CV/Resume
- Letters of Recommendation
- College and University Transcripts
- GRE scores
- English language proficiency
PhD vs Masters - Career Prospects
Here’s taking a closer look at the career prospects offered by both these courses.
Parameter | Master’s Degree | PhD Degree |
Type of Employment | Master’s degrees may lead to several jobs across varying fields. You can find employment in every industry with a master’s degree and relevant knowledge in the area/field. | PhD degrees may lead to jobs as researchers and academics, while sometimes leading to the most senior positions in various sectors. |
Job Profiles |
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Here are some jobs after PhD degrees with their average annual salaries according to Payscale.
Job Position | Annual Salary (Average) |
Research Scientist | $66,000-131,000 |
Physical Therapist | $64,000-92,000 |
Assistant Professor | $54,000-110,000 |
Data Scientist | $86,000-141,000 |
Research Scientist | $65,000-124,000 |
Senior Research Scientist | $82,000-142,000 |
Here are some jobs after master’s degrees with their average annual salaries according to Payscale.
Job Position | Annual Salary (Average) |
Data Scientist | $72,000-147,000 |
Data Analyst | $54,000-98,000 |
Project Manager | $61,000-123,000 |
Human Resources (HR) Director | $77,000-162,000 |
Software Engineer | $64,000-118,000 |
Human Resources (HR) Manager | $56,000-106,000 |
Program Analyst | $44,000-99,000 |
Conclusion
As you can see, there are several intrinsic differences between master’s programs and PhD courses. You should evaluate the pros and cons of both these degrees for your chosen career pathway and then finalize your decision.
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FAQs
Is it better to have a master’s degree or PhD?
PhD qualifications are the highest in any particular field. It may have a higher impact than a master’s course, which of course, has more impact in comparison to bachelor’s degrees. In some cases, master’s degrees are enough to build careers in various job-oriented roles, while PhD qualifications are a must for academics, research, and teaching in many cases.
Is a master’s course harder than a PhD?
The difficulty levels may vary, depending on the subject chosen for a master’s course and the topic of research for a PhD program. In many cases, PhDs may seem harder due to the longer time and extensive research work required.
Can I do a PhD without a master’s degree?
While most students apply for PhD programs after completing their master’s degrees, there are some PhDs which admit those with undergraduate degrees. It all depends on your chosen academic or professional pathway, understanding of the discipline, knowledge, experience, and various other factors.
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