Do you harbour a secret dream of completing your Master’s? A Graduate Certificate or Diploma? Perhaps even a PhD? With so much uncertainty in the job market, now’s the perfect time to start your postgrad degree and strengthen your career prospects. Here are five reasons why postgrad study could be a wise choice for you.
1. A recession is a great time to study
With the economy shrinking, it’s a great time to double down on your skills and build your professional capabilities. With fewer opportunities for promotions or job advancement, there’s never been a better time to do that Master’s or PhD you’ve always dreamed of. And when you’ve finished your degree, you’ll be in a stronger position to take the next big step in your career.
2. You’re more likely to get a job
A postgraduate qualification is more likely to find you employment. In 2019, the proportion of undergraduates in full-time employment was 72.2 per cent, while for postgraduate research graduates it was 81.1 per cent. For postgraduate coursework graduates it was even higher, with 86.8 per cent in full-time employment.1
In a time of economic uncertainty, increasing your employability could definitely be a wise option.
3. You’ll graduate with higher salary potential
As well as helping you to find a job, a postgraduate qualification often leads to higher salaried roles. In 2019, the median salary of undergraduates was A$62 600 per year (employed full-time), while for postgraduate coursework graduates it was A$85 300. Postgraduate research graduates enjoyed even higher salaries, with a median of A$90 000 – making higher earnings just one of the benefits of studying a research degree. And that’s not course, job or industry specific. You could see a significant uplift on your current earnings.
So, aside from the many benefits of developing your skills and knowledge, a postgraduate degree can really strengthen your earnings potential and take your career to the next level.
4. There are more Commonwealth Supported Places than ever before
We offer a range of Commonwealth Supported Places (CSPs) across our postgraduate courses. You can take advantage of heavily reduced fees, while making your next step towards your career goals.
5. You could be eligible for a fee reduction or a scholarship
If you’re not eligible for a Commonwealth Supported Place, or your chosen course doesn’t offer CSPs, you may still be eligible for a 10 per cent fee reduction in your postgrad course – a substantial saving. It’s what we call the Alumni Advantage and it’s available to La Trobe alumni.
You may also be eligible for a scholarship, which can support you while you study. La Trobe is proud to offer a wide range of postgraduate scholarships. You can view all our scholarships here.
With so many good reasons to start your postgraduate degree, now’s a great time to consider all your options and start plotting your next career move.