Should You Do a Masters Degree?

Choosing A Uni, Returning To Study | 7 min read

Written by rob Malicki on April 22, 2026

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Should You Do a Masters Degree in Australia?

At some point in most careers, the question surfaces. You're doing well, but something feels like a ceiling. Or you want to move into a different field. Or you're looking at job listings for the roles you actually want and they keep mentioning postgraduate qualifications.

A master's degree is a significant decision. It costs money, takes time, and requires real commitment. So let's be direct about when it's worth it and when it isn't.

The salary case — in numbers

$97,500
median annual full-time salary for domestic postgraduate coursework graduates in Australia (QILT, 2023)

92.5%
employment rate for postgraduate graduates vs 87.1% for undergraduates (QILT, 2024)

$7,300
more per year earned by postgrad business graduates vs undergrad counterparts in short-term salary outcomes (Jobs and Skills Australia)

Those numbers are consistent across almost every field measured in Australian graduate outcomes data. Postgraduate graduates earn more and are employed at higher rates. The statistical advantage is real and it's not small.

Postgraduate commencements grew 5.2% to over 118,000 in 2024. That's a lot of professionals who looked at the same data and reached the same conclusion.

Coursework or research — which one?

Type	Duration	Best suited to
Coursework Master's	1–2 years full-time	Career advancement, specialisation, career change
Research Master's	1–2 years full-time	Academia, research roles, pathway to PhD
MBA	1.5–2 years (part-time options)	Mid-career professionals with 3–5 years experience

For most people reading this, a coursework master's is the relevant choice. Research degrees are genuinely valuable but they're designed for a different purpose: producing original knowledge rather than advancing an individual career.

Is it worth the cost?

A master's degree in Australia typically costs between $37,800 and $114,000, depending on the institution and discipline.

FEE-HELP is available to eligible domestic students, meaning no upfront costs. The debt is repaid progressively once income exceeds the threshold.

The more useful frame is return on investment. If a postgraduate qualification reliably adds $7,000 to $15,000 per year to your salary, the degree pays for itself within a few years. Over a 20-year career, that compounds considerably.

The financial case is strongest in fields where postgraduate qualifications are actively rewarded: business, health, engineering, and education. In some creative or technical fields, experience and portfolio can outweigh formal qualifications. Know your industry before you commit.

When a master's makes strong sense

Situation	Verdict
You want to change careers into a field requiring professional qualifications	Strong case — often faster than a second undergrad degree
You're aiming for senior roles and postgrad is consistently listed as preferred or required	Strong case — it's a structural requirement, not a nice-to-have
You want to specialise deeply in a specific area	Good case — if the curriculum genuinely builds capabilities you don't have yet
You're not sure what else to do and study seems like a good idea	Pause — returns are strongest when the qualification is connected to a clear direction
You're in a field where experience and portfolio outweigh credentials	Re-evaluate — three years of the right work experience may serve you better

How to choose the right program

Once you've decided a master's is the right move, a few things worth checking before you apply:

Employment outcomes for graduates of that specific program, not just the university overall

Whether the course is accredited by the relevant professional body in your field

Whether it's available part-time or online in a format that suits your current life

Whether any prior study or experience can give you credit, reducing the time and cost required

The question is never really whether to do a master's degree in the abstract. It's whether the specific degree you're considering will take your career somewhere you genuinely want to go. That's worth spending real time on.

The Choosing Your Uni Virtual Expo is a good place to compare postgraduate programs, speak directly with universities, and get a clearer picture of what's available and what it would actually involve.