The Best Degrees for a Career Change
Key Takeaways
- Career changes are common but require intensive planning to reach personal and professional goals.
- A master’s in business administration, information technology, and human resources are the most flexible degree options for career changers.
- The best ways to evaluate if a new field is right for you are by researching industry trends, knowing your limits, gaining practical experiences, and hearing professional insights.
Some people decide too early on what to do for a living. Others follow their interests, while others follow paths that offer the highest ROI.
Professionals often want a career change after a few years of working in a specific industry for professional satisfaction. Either they’re not content with the salary in their jobs, or they’ve finally decided to follow their dream career.
A new career, especially those unrelated to your current career, requires a lot of adjustment. If you’re considering switching careers for a better salary, more career opportunities, higher job stability, and excellent job growth, this article is for you.
We’ll list three of the best degrees offering transferable skills and higher ROIs.
The 3 Best Degrees for a Career Change
Business Administration
Average Annual Salary: $76,850
Projected Annual Job Openings: 911,400
A Master of Business Administration (MBA) is the best master’s degree for career changers. An MBA is one of the most versatile graduate programs that is purposefully aimed to equip career changers with the necessary credibility and marketability to help them break into almost every industry. With an MBA, you can specialize in fields like marketing, healthcare administration, finance, information technology, entrepreneurship, and consulting.
You can expect a diverse curriculum that exposes you to various business functions and processes. This degree is also known for its networking opportunities, which can help to enhance your career prospects and ability to adapt to the ever-evolving business landscape. You’ll gain various skills useful in changing careers, including:
- Organizational Behavior
- Marketing
- Management
- Entrepreneurship
- Business Law
- Strategic Management
- Project Management
Moreover, most MBAs accept students with a bachelor’s degree from a field outside business. Upon applying for an MBA, you’ll be required to take prerequisite courses in business fundamentals to bridge the gap between your existing skills and those needed for the business world.
However, an MBA degree in a top graduate school can be costly. According to the Education Data Initiative, the average cost of an MBA is $71,880. This figure is significantly higher than the average master’s degree, which is $65,134. Nevertheless, the skills and knowledge you gain from this graduate program will help you switch careers seamlessly.
If you are interested in changing careers as quickly as possible, an online accelerated MBA degree program can allow full-time students to graduate in 18 months or less.
Information Technology
Average Annual Salary: 377,500
Projected Annual Job Openings: $100,530
Information Technology (IT) is a broad and diverse field. Techology touches every facet of our lives.
For example, the invention of cell phones has completely changed communication and made it possible for us to always be in touch with one another. Distance is no longer a factor in real-time discussions thanks to apps like FaceTime and WhatsApp.
Almost every industry relies on technology today, from healthcare to agriculture. This makes an information technology degree very attractive to would-be career changers because of the flexibility and diversity of careers within the information technology umbrella.
There are various types of specialties you can pursue in IT that can lead to high-paying and stable job opportunities. Some of the most in-demand fields of IT are:
- Cybersecurity
- Software Engineering
- Web Development
- Computer Science
- Data Science
- Cloud Computing
- Artificial Intelligence and Machine Learning
- Information Systems Management
- Digital Marketing
- User Experience (UX) Design
- Blockchain Technology
- Internet of Things (IoT)
IT degrees are best for those who want to be at the forefront of innovation. Consider this degree if you have:
- an aptitude for handling challenging issues
- an interest in cutting-edge technologies
- creative thinking skills
- the drive to develop solutions that influence the real world
However, IT’s demand for continuous development has its advantages and disadvantages. The industry ensures that professionals stay relevant in a rapidly changing landscape.
However, the rapid pace of change in IT requires significant time and effort. It requires constantly updating skill sets to remain competitive, which is difficult for busy working professionals.
On the other hand, IT careers don’t necessarily demand applicants to have a master’s degree, depending on their field. Instead of a graduate degree, most job opportunities in IT look for specific skill sets that can be obtained from industry-specific certifications and training. An undergraduate degree will equip you with solid foundational knowledge.
The fastest online bachelor’s in information technology degrees can be completed in 2-3 years, accelerating your career change opportunities.
Human Resource Management
Average Annual Salary: $130,000
Projected Annual Job Openings: 15,500
Companies are only as good as their employees. Being an HR manager means that you’re responsible for overseeing policy compliance, administrative functions, and aligning recruitment strategies. If you think about it, a Human Resource Management degree should be at the top of the pyramid since they’re in charge of hiring and assessing capable employees in various aspects of a company.
While undergraduate degrees in HR are the minimum requirements for entry-level positions, those with graduate degrees are more valued in the job market. And with a master’s degree in human resources, you can qualify for certifications that lead to higher-paying career opportunities. Other popular careers you can apply for with a master’s degree in human resources include:
- Marketing Director
- Business Development Manager
- Sales and Marketing Manager
- Property Manager
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Assessing Degrees in Career Planning
Career change is a normal part of life. A limited US Labor Statistics study indicated that baby boomers — or individuals born between 1957 and 1964 — held 12.7 jobs in their lifetime.
It’s perfectly normal to reconsider your career path, but it’s crucial not to rush into a decision. Hasty choices could lead to more frequent career changes, causing you to lose focus and stability in your professional life.
You must consider various factors, like identifying your strengths and interests. Career change planning will help you reach your goals — personally and professionally — regardless of where you are in your career trajectory.
In today’s expensive and continuously increasing higher education market, you need to make an informed decision. So, what precautionary steps should you take to ensure an excellent ROI and personal satisfaction in your college degree?
#1 Research Industry Trends
There are myriad industries for you to explore. We suggest that you carefully research industry trends and compare which has the highest demand.
Among the most reliable sources of industry trends is the Bureau of Labor Statistics (BLS). This website provides comprehensive data on various occupations, helping you make data-driven decisions. The BLS offers up-to-date information on employment projections, median salaries, educational requirements, and job descriptions.
#2 Evaluate Your Strengths and Weaknesses
This step is very important. Even if you’re in it for the money, not all high-paying career paths are equally sustainable or aligned with long-term job growth. You need to consider factors beyond monetary gains, including your capabilities.
Explore each path and see which degrees lead directly to that specific industry. Learn more about the educational background and practical training required for that path. Ask yourself if you’re willing to commit to the necessary investment of time, effort, and resources.
#3 Explore and Experiment
If you’re aware of what the job entails and the degree required, you should then consider a short practical experience. This part will help you reassure yourself that the new career path you’re planning aligns with your personal and professional goals. You can perform exploration and experimentation in various ways, including:
- Enrolling in short courses: Lots of websites, such as Coursera, offer free and low-cost online introductory courses for in-demand degrees. Moreover, some universities, such as Purdue Global, offer trial courses that allow prospective students to attend actual classes and experience the curriculum before committing to a full degree program.
- Job shadowing: This will give you insights into a day in the life of a professional working in your chosen field. This journey allows you to spend time with someone currently working in the role you aspire to, observe their tasks, and gain firsthand insights into the industry. This is a strategic approach to picking up useful tips and new skills.
- Part-time work: Depending on your chosen industry, you can work as a part-time employee or take on freelance projects to gain practical experience. This will offer a more immersive experience than job shadowing. Industries like marketing, graphic design, and programming offer freelance or part-time positions.
- Find a mentor: Having a mentor effectively accelerates your career change and allows you to gain valuable insights from someone who has navigated the path you aspire to follow. A mentor will provide guidance, criticism, tools, contacts, and encouragement. They’ll also help you discover your values, interests, and strengths.
Other things you can do to explore and experiment with your career change include:
- Volunteering
- Internships
- Informational interviews
- Talking with a faculty member
#4 Weigh the pros and cons
Consider the pay-life balance, relocation, and the cost of pursuing another degree. Analyze previous research, experiences, ranking factors, and roles to identify your top choice. Consider alternative options if desired.
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Resources for Choosing a Degree During Career Change
Asking more professionals and using tools to assess your suitability for another career is essential during a career change. Knowing where to find resources which will benefit you the most is vital in successfully navigating this transitional phase.
Career Counselor/Coach
There are also career counselors/coaches who specialize in career change. These professionals can present networking opportunities, help you know your limits, and, to some extent, help you set up professional social media accounts and online portfolios. Their primary goal is to guide their clients toward finding more satisfying employment and leaving their current job.
When searching for a career change counselor/coach, searching locally before browsing the internet is advised. However, if you prefer online meetings, search for available coaches on social media or websites. You’ll pay to avail of their services, so assessing the coach’s client success stories, online reviews and testimonials, and success rates are essential.
Online Resources
There are hundreds of college reference websites you can take advantage of to search for the perfect school for your next degree. The College Navigator is one of the best search engines for looking for schools by program, degree level, state, and kind of institution. Additional resources include information on financial aid and career guidance.
Other helpful tools and websites you can use on your journey to your next career include:
- Myers-Briggs Type Indicator (MBTI)
- CareerLeader
- Career Story Workbook
- O*NET Interest Profiler
- iseek Skills Assessment
- Skills Matcher
Student Submitted Questions on the Best Degrees for a Career Change
Jennifer asks, “Which college degrees successfully facilitate career change?”
Dr. Jed Macosko’s answer: The answer depends on your career goals. But in general, master’s degrees in business administration take the top spot due to their versatility and customizable nature.
Many MBAs offer specializations that allow you to tailor your degree to align it with the career path you are interested in. You can specialize in management information systems, human resources, IT, health administration, and other in-demand fields.
Brittany asks, “Should my previous job experience align with the new college degree I am earning for my career change?”
Dr. James Barham’s answer: If you’re looking to save money and accelerate your path to switch careers, yes. By applying for a new degree that is loosely related to a degree you have already earned, you may be able to waive some prerequisites or criteria for the degree based on your previous job experience and degree.
Benji asks, “How important are my soft and hard skills when deciding on the best degree for a career change?”
Dr. Jed Macosko’s answer: Harmonizing these two skills is very important when changing careers. A significant gap between your soft and hard skills will hinder your success in your new career. Employers assess what you know and how well you can collaborate, lead, and integrate within the organizational culture.
