Should You Go For A Masters or a PhD?
Some Insight...
“A student must be able to use knowledge at the master’s level, and make significant contributions to it at the doctoral level.” --J. Lapidus, President, Council of Graduate Schools, 1992.
Knowledge at the master’s level is intended to prepare you to practice a profession, or to continue on for more advanced study. A master’s degree is considered a professional degree---which is why there is a professional master’s program at MSU. A master’s degree is also preparation for entry into a PhD program.
A PhD is an extended apprenticeship in which a student learns to make significant contributions to human knowledge. After passing departmental examinations, a student enters candidacy. This is a time for performing original research, which will be judged by a faculty committee. The PhD candidate also must defend their research orally, and write a dissertation documenting the results of the research.
Which degree is best varies widely by field, and even sub-disciplines within a field. You should research the jobs available in your field to see which degree is in more demand. Over time, research and development jobs in industry have shifted back and forth between preferring PhDs or MS students. Find out what the latest trend is.
If you wish to be a professor at a research university, you will need a PhD. Remember, though, that these jobs are in very short supply, and a long post-doctoral appointment period of contract work is usual until a faculty job is finally landed.
Governmental work is usually available for both MS and PhD graduates, and 2003-2010 is predicted to be a time of increased hiring for federal jobs.