Should I go for a master’s degree or just keep working?

Student Loans
1

I have a B.S. in Cyber Security and work as a Network Engineer making $130k a year. I’ve got two IT certifications, a secret clearance, and five years of experience in IT. My student loans ($21k) are manageable, and I start repaying them in March 2025.

I was thinking about going for a master’s to increase my income, but I’m worried about adding more debt when I’m planning to buy a house soon. Do you think getting a master’s is worth it, or should I just rely on gaining more experience to climb the ladder? I’d prefer to keep my debt low and avoid juggling multiple accounts.

2

You’re already making $130k. I’d skip the master’s degree for now. Otherwise, you might have to delay buying a house.

3

Nori said:
You’re already making $130k. I’d skip the master’s degree for now. Otherwise, you might have to delay buying a house.

You’re right, I think I’ll skip it for now. I’m 28, so there’s time to aim for $150k later. $130k is good for now, and my car is fully paid off too.

4

@Drew
If the master’s would only bump your pay by $20k, it doesn’t seem worth it. If you were debt-free, had low expenses, and the degree would jump you to $200k or more, then maybe it’d make sense.

5

Nori said:
@Drew
If the master’s would only bump your pay by $20k, it doesn’t seem worth it. If you were debt-free, had low expenses, and the degree would jump you to $200k or more, then maybe it’d make sense.

Yeah, based on my experience, it wouldn’t make much difference right now. Most IT jobs requiring 8–10 years of experience pay $160k+, but it’s rare to see someone with just a master’s and five years making that much unless they have connections.

6

If your job benefits from a master’s degree, see if your employer offers reimbursement for education expenses.

7

I wouldn’t go for the master’s. It’s more about your skills than the degree itself, especially in IT. Switching companies is a better way to increase your pay.

8

Some companies will help pay for a degree, but it doesn’t sound like you really need one right now.

9

Pay off your loans and wait until you’re more established. Maybe think about it later if you want a career change or something.

10

If you do it, just be careful about how much it costs. Education pricing can be pretty aggressive.