Table of Contents
1. How much do postgraduates earn?
2. Top reasons to take a master’s
3. How much does a master’s cost?
4. Is it possible to get a scholarship for a master’s?
5. Tips for getting a master’s scholarship

How much do postgraduates earn?

78% of non-retirement age postgraduates in the UK are in high-skilled employment compared to 66% of graduates, reports the government’s Graduate labor market statistics 2020.  Working master’s holders enjoy an average annual salary of £42,000, compared to £35,000 per annum undergraduates. Working postgraduates earned £7,000 more than graduates and £16,500 more than workers who don’t have a degree.

This isn’t easy money. Taking a master’s is not an easy option. But for highly motivated students it’s a fun route to take that will pay off when it comes to landing a dream job and the lifestyle to match.

Top reasons to take a master’s

The most popular reasons for taking a master’s are the following 6 things: 

  1. Advancing a current career trajectory. 
  2. Enhanced employment chances.
  3. Expanding a personal interest.
  4. Moving up to higher-level education (such as taking a PhD)
  5. Starting a specific profession.  
  6. Improving knowledge for a current job role.

How much does a master’s cost?

A master’s degree costs an average of £8740 in the UK and anything between $30,000 and $120,000 in the USA depending on which university you pick and the area of the country. The duration of the course, plus the specialism all factor into the cost.

Is it possible to get a scholarship for a master’s?

Yes, you can get a scholarship to study at master’s level. You’ll have to network a lot as well as searching online as only half of scholarships are listed on the internet. Talk to fellow students, alumni and representatives from schools in our discord group. 

What will a scholarship application include?

Your application details will depend on the institution that is offering the scholarship but you can expect to need some of the following: 

  1. Your registration or your application form.
  2. A letter of motivation or a personal essay. 
  3. Letter(s) of recommendation. 
  4. Letter of acceptance from your dream school. 
  5. Proof of low income, official financial statements such as your parents’ income. 
  6. Proof of extraordinary academic achievement including entrance exams such as the GMAT. 

Tips for getting a master’s scholarship

  1. Start your scholarship search early. 

Get your application perfectly honed and submitted well before the deadline. You’ll be up against the world’s best students so being prepared and doing your absolute best is crucial. 

  1. Make a list of scholarships. 

Making a list of different scholarships whether they’re private or government funded, or full-ride or in-course will help you narrow your search. There’s also merit, major-based, diversity and sport achievements scholarships to consider. 

  1. Ensure your application is the best. 

You’ll need a GPA; CV (professional) that includes academic, professional, extracurricular achievements; strong application essays, and recommendations from employer(s).

  1. Ace your entrance exams. 

Scoring top marks on your GMAT will give you a very strong head start. Just one hour with a tutor who has already sat the GMAT themselves and scored in the top 1% is worth five whole hours of studying on your own.

Is it too late to fix your GPA, CV? You still can boost your chances by doing brilliantly on the entrance exam.

  1. Keep the search going! 

Students can request additional funding from their university if needed. There are high chances that your chosen university can provide additional support if you can demonstrate eligibility and a genuine desire to study at the university.

  • Postgraduate students can receive additional funding for research purposes.
  • On top of that, scholarships are not necessarily received before the freshman year. Many universities offer an option to get the scholarship after year 1 as a result of their performance (either academic, extracurricular or both).

Start your journey to your dream school today. 700+Club provides expert Admissions Consulting to ensure you get everything you need to succeed. 

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