“An investment in knowledge pays the best interest.”
– Benjamin Franklin.
Pursuing higher education is a significant investment that can lead to improved chances in life and most likely higher returns on capital.
In fact, the growth of the higher education market suggests that there is clearly a positive growth trend, as the market size has already grown to $688.13 billion in 2024 (Source: The Business Research Company, 2024).
Thus, as a teacher, an advanced degree assists you in making a difference as well as furthering your career and most likely earning more money.
In this blog, we hope to persuade you as to how making a decision to pursue advanced education is one that will bring the most exceptional of returns.
So, make an informed decision about the path you want to take in the future, don’t miss this opportunity, and just keep reading.
First, Figure Out Who is Paying the Bill
If you’re an educator wondering about going back to school to get a master’s degree, then here’s good news—multiple school districts offer to share the cost of education, which may ease the burden.
Here’s how you can get a great return on your investment when you pursue your degree:
- Tuition Assistance: There are several school districts that consider paying for your degree and offer tuition assistance.
A few school districts even offer rebates depending on the number of credit hours that you complete.
- Transferable Benefits: If you don’t require your tuition benefits in full, most likely, those can be transferred to another teacher helping out other teachers too.
- Grants and Scholarships: The teacher shortages are working to your advantage, there’s a lot of money that can help you fund your degree in the form of scholarships and grants available.
- Apply for Financial Aid: Expending effort to look for and apply for grants and scholarships can save you thousands of dollars – it might feel like a part-time job but it’s worth it.
Furthering your education and earning an advanced degree does not have to be a pricey endeavor.
There are plenty of resources available to teachers to help ease the financial cost of earning an advanced degree, such as scholarships, grants, and benefit transfers.
Plus, already working in the educational field means it’s possible to receive tuition assistance from your school district.
Take an insight into the graph below, which illustrates data from the Higher Education Global Market Report.
Second: Think About Where You Are At in Your Career
Teachers shouldn’t think of themselves as over the hill if they are in their 40s or 50s and want to make a career change.
Well, it’s good to remember that the earlier in your career you get your degree, the more money you will make from it.
If you increase your position on the payscale at the age of 25, that’s forty years of earning a higher salary thanks to your graduate degree.
Vets should not be discouraged by this because as a teacher, there is only a benefit to you in following the education pathway.
In your 30s and contemplating graduate school, it’s the best time to do something about it.
As time is on your side, starting school at an early stage gives you the opportunity to reap its rewards after graduation.
The decisions you undertake at present are the ones that will benefit your long-term goals, thus, the choices you make today will be appreciated by your future self.
Third: What Type of Degree Are We Talking About?
A master’s degree is your first stop in the world of graduate school, and it doesn’t have to be the last.
Doctorate programs, called Ed.D’s give you the opportunity to reach the educational summit.
So yes, this implies you are going to a university after you have finished education high school education.
This also means considering the time you will invest into this and the money it will cost you it is a big step.
Again, the timeliness of your degree will influence its value, and also, what you do with it will make a difference.
At this stage, you’ll get the best return by heading out of the classroom, into an education career that pays a bit better.
More on that in the below headings:
Salary Increase
When you remain in the classroom for a few years, you will get a salary raise after getting your master’s or doctoral degree.
Some school districts give automatic raises at fixed points, such as after students have completed a certain number of credit hours, halfway through the program, or upon graduation.
To find out how much a degree will raise your salary, you can visit the website of your district and see if the information is posted there.
If not, ask a union representative to assist you in interpreting what the salary expectations are.
Administrative Positions
As you pursue a graduate degree, you have more options not only in the classroom but even as an administrator where the pay is higher and the role is more influential.
Whilst teaching touches the lives of the students, in administration, you are in the position of making decisions that could shape the direction of a district.
Usually, administrators work during the summer and they are paid better, sometimes over $100,000.
Positions such as principals and superintendents are involved in more leadership when still doing some administrative tasks related to those positions
College Professor
It’s also worth noting that, with a graduate degree, you can begin working as a college professor.
Part-time professors might make less than a classroom teacher, whilst tenured professors will make considerably more.
If you want to stay in the classroom while also increasing your salary this could be a good way to do it.
Do remember, however, that the professor positions are fiercely contested, and institutions tend to be sparse (in terms of geography).
It is common practice for instructors wishing to become professors to move in search of employment opportunities.
Conclusion
There are a lot of professions in education that will pull you from your classroom and get you into more rewarding job positions.
Even if you like your current placement, you can still increase your salary with graduate school.
Details matter, so give yourself time to get the best possible degree in your education.
