Should I do a Master’s degree? Real talk for final-year students

So, you’ve made it through the dissertation dramas and the exam hall horrors of your undergraduate degree. High fives all around! But now the big question looms: what on earth do you do next? There’s a growing buzz, a bit of pressure even, to jump straight into a master’s degree. It’s like a new academic fashion everyone’s trying on. But before you follow the crowd, let’s have a real chat about whether it’s the right fit for you, or just something you feel you should do.

It’s true, master’s degrees are becoming increasingly popular, and there are a few solid reasons why your mates (and maybe you?) are seriously mulling it over.

A competitive job market

Is a master’s degree worth it? Let’s be honest, the job market out there can be a bit of a bunfight. Having a master’s can give you that extra edge. Employers are increasingly looking for ways to tell candidates apart, and a postgraduate qualification shows you’re committed and can handle some serious academic heavy lifting.

Delay the real world

Okay, let’s call a spade a spade. For some, another year of studying is a welcome way to put off the 9-to-5 grind for a bit longer. And that’s perfectly fine!

Their career requires it

For some jobs, a master’s isn’t just a ‘nice-to-have’, it’s a ‘must-have’. If you’re dreaming of becoming a clinical psychologist, a lawyer, or a university lecturer, you’ll likely need that postgraduate qualification.

It’s expensive

There’s no getting around it, a master’s degree costs. Tuition fees vary wildly depending on the course and university, but they can be substantial. Then you’ve got your living expenses on top of that – rent, food, travel, the occasional (and necessary) night out.

While it’s tricky to give an exact figure as it varies so much, you could be looking at anywhere from £9,000 to over £30,000 for tuition fees for UK students, with living costs adding another significant chunk depending on where you study.

If you take out a postgraduate loan, remember that interest will start accumulating from the moment you get your first payment.

The government postgraduate loan for students might not cover the full whack of your fees and living costs, especially for pricier courses or if you’re studying in London.

Delays full-time employment

Another year or two of study obviously means another year or two out of the full-time workforce.

Think about the salary you could have been earning if you’d gone straight into a job. It’s worth weighing this up.

While a master’s can be a big plus, some employers, particularly in certain industries, might prioritise hands-on work experience.

It’s intense

Don’t expect a master’s to be a walk in the park. It’s often much more demanding than an undergraduate degree.

Okay, let’s talk money. Funding a master’s can feel daunting, but there are options out there.

Government postgraduate loans

As mentioned, eligible students in England can apply for a Postgraduate Master’s Loan from the government. For courses starting on or after 1 August 2025, this is up to £12,858. Students in Wales can get up to £19,255 for the 2025-2026 academic year. Similar schemes exist for students from Scotland and Northern Ireland, so check the specifics for your home nation.

University scholarships and bursaries

Most universities offer their own scholarships and bursaries. It’s definitely worth checking the funding pages of any university you’re interested in.

Employer sponsorship or work-study routes

Some employers, particularly in fields like STEM, might be willing to sponsor you if the master’s is directly relevant to your job and will benefit the company.

If you’re not convinced a master’s is for you right now (or ever!), don’t panic. There are plenty of other brilliant ways to kickstart your career or develop new skills:

• Graduate schemes
• Internships and paid work experience
• Online short courses (Coursera, Google certs, etc.)
• Gap year/travel with remote work
• Self-employment or creative projects

Ultimately, the decision to do a master’s is a deeply personal one. Don’t let the pressure to “keep up” or do what everyone else is doing sway you. There’s no one-size-fits-all answer.

Take the time to really reflect on your own goals, motivations, and circumstances. What feels right for you? It’s absolutely okay to pause, go out and work for a bit, and then come back to further study later if it feels like the right move then. It’s also okay to decide a master’s isn’t part of your plan at all. Trust your gut, do your research, and choose the path that excites you the most. Good luck!

If you do decide to do a master’s degree we have dedicated postgraduate student accommodation in Nottingham, Sheffield, Edinburgh and Southampton.