A master’s degree is a differentiating factor in the academic-formative aspect in the current labor market. In turn, we see how the master supply evolves continuously to align with the demands of said labor market, increasingly changing. As they point out from UCAM, university careers give you a necessary basis on an area, but it is the master who helps you focus on a specialty. Something very valuable when looking for work. The skills that are acquired, with a practical and technical approach, will be used in the work environment.
The U-Ranking project, initiative of the BBVA Foundation, studies different indicators of the Spanish university system, including employability. The analysis of the results of social security affiliation of university graduates shows that one of the factors that contributes to the improvement of labor insertion is to expand studies with a master’s degree. “The advantages of the Master’s degrees over the degree are observed, above all, in the adjustment of the job to the level of studies taken and in the salaries obtained,” says one of the authors of the document, Joaquín Aldás, who is IVIE researcher. It indicates that 77.1% of the degrees with a master’s , law or engineering), while that percentage is 61.9% among grades. A master also gives salary advantages, according to the data analyzed, “the average contribution base of the masters is 11% higher than that of graduates.”
Irene Zaera, research technique of the IVIE and also the author of the report, points out that the degree of Master have doubled their weight on the total of graduates, by representing 22% in 2013 to 42% in 2022. In the 2022 course -23, 153,119 people obtained an official master’s degree53% in a private university. “The increase in master’s degrees is led by the branch of social and legal sciences,” he says. The analysis of the 153 fields of study in which master’s degrees are grouped “allows us to observe that the greatest changes occur in certain areas, highlighting the growth trend in regulated professional fields (which require a enabled master) or linked to the company, ”he adds.
Both researchers point out that the masters have more flexibility to adapt their curricula than grades and, above all, more flexibility for the access of students from other countries by not having the restrictions of the degree access tests. “This adaptation capacity allows master’s programs to adapt more quickly to the changing needs of companies and the labor market,” they highlight.
In turn, they remember that it should not be forgotten that there are not only university masters raised as continuity of the grades, “but also these masters are raised as continuity in the continuous training processes of the staff of the companies.” That is, this double aspect, “forces to be at the forefront of practical knowledge if they must be useful to the business world.”
This report also shows that, in general, the masters associated with the teaching branches of health and engineering and architecture sciences present the best levels of affiliation and contribution bases. “Among the masters of health sciences with the highest affiliation rates are the Master in General Health Psychology (enabling) and Nursing,” says Joaquín Aldás. In Engineering, affiliation rate greater than 82% are registered by the degrees of masters related to industrial technologies and agricultural engineering. “The masters with the highest average annual contribution bases (above 41,000 euros) are those of health management, bioethics and design and administration of databases,” says the researcher.
Specialization
David Ruiz de Olano, Professor of Deusto Business School and academic director of Emba Online, is clear that the Master is a key factor when differentiating in the labor market. “Especially in such a competitive and international market where the mobility of the students and the demands of the companies are greater,” he emphasizes. A master’s degree provides specialized knowledge and practical skills that allow professionals to assume strategic roles and have a more complete vision than graduates. “In addition, studying at a prestigious school expands the network of contacts and improves international projection, becoming a key differentiating factor,” he says when referring to the students of his school. In it they have verified the increase in interest in this type of studies in recent years. «The transformation of labor markets, specialization demands and the focus on digital and sustainable skills have promoted interest in master’s programs, especially in areas such as management, technology and ethical leadership. Also the fact that the degrees have been reduced in time, causes the need to specialize in depth, ”reflects the teacher.
It highlights the fact that the master supply is constantly adapting to the needs of the company. “Programs such as Deusto Business School integrate issues such as sustainability, digitalization, Big Data, IA, ESG and humanistic leadership, combined with practical methodologies and real projects that prepare students for the challenges of the current business environment,” he gives as an example. To achieve this “close contact with companies is key, either through professionals such as teachers, visits to companies, or projects applied to the company.” In this school they indicate as booming sectors for postgraduate studies of technology, sustainability, consulting and financial management. “Companies are looking for leaders capable of navigating digital and global contexts, which also boosses programs in strategic management and digital transformation,” he says.
In the case of Deusto, having a business faculty and an engineering faculty, “it allows us to have a clear mix of both areas to provide mixed training.” For the next few years, this type of training will focus on digitalization, sustainability and artificial intelligence. In addition, «the development of human skills such as leadership, empathy and decision making in complex environments will be prioritized. Personalization and hybrid formats will be key, ”he adds.
In relation to the guarantee that a master’s degree can give you to find work, David Ruiz de Olano considers that the masters oriented to digital transformation, business management, sustainability and leadership are highly demanded. «Programs such as the Executive MBA or the Master in Finance of Deusto Business School prepare students for strategic roles with high employability. Also programs such as the European and International Business Master give that international dimension that companies demand, ”he gives as an example. And we must not forget that many professionals seek in a master’s opportunity to update, change the sector or improve their professional perspective. “Programs that combine technical knowledge with personal development are especially effective in this regard,” he says. In addition, if it supports a professional career service aimed at improving or changing professional career, together with an Executive Coaching service, “it can be a great platform to prepare the following movement in the person’s professional career,” he adds.
Commitment
From the Spanish Association of Directors (AED), they affirm that continuous training is closely linked to the development of the professional career of any manager, “since it is essential to remain updated in a constantly changing business environment,” says Xavier Gangonells, his managing director. “Technological transformations, without going any further, demand a rapid and constant adaptation,” he adds. From the AED, they promote a continuous learning mentality through different programs and activities. “Training, together with accumulated experience, among others, are key factors for leaders to make decisions that promote the competitiveness of their organizations,” he says.
For Gangonells, beyond the intrinsic knowledge provided by the study of a master’s degree, “demonstrates the professional’s commitment to his continuous development and his desire to progress in his career.” In turn, today companies value not only technical training, «but also transversal competitions that masters help develop, such as leadership, effective communication and the ability to work in multicultural environments ».
A Master contributes to the development of a set of skills both at a technical and personal level. “On the one hand, it provides specialized and updated knowledge in specific areas, which increases the ability to make decisions in these areas with proper preparation,” says the CEO of the AED. On the other hand, «it develops key competences such as critical thinking, effective communication and the ability to work as a team. In addition, it fosters networking, fundamental in any manager’s career, ”he adds. Hence a master’s degree contributes to access to positions of greater responsibility, although he points out that there are more factors at stake that influence the progress of the race. «Training by itself does not guarantee to achieve a certain position. However, the high quality of any master can make a difference in a selection process, positioning the candidate as best prepared, ”he says.
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