Enrolling in postgraduate study is a big decision and a significant commitment. It makes sense to get some reassurance that doing a master’s is worth it. After all, why do postgraduate study if you don’t know how it’s going to benefit you?
With the cost of living weighing heavily on most of our minds, making more money seems like the obvious motivation to consider studying a master's degree. This is completely valid – and yes, UQ postgraduates do enjoy an average salary increase of 36% within 3 years of graduating. But boosting your income is far from the only reason to invest in further education.
So, let's explore all the potential rewards. You can use the facts, figures and outcomes below to weigh up whether it’s worth doing a master’s degree in your near future.
Why is doing a master’s worth it? (Facts and figures)
Pay increases
Let’s start with salaries. The average postgraduate increases their pay by 36% within just 3 years of graduating – from around $71,000 to $96,600.*
*Based on median salaries reported by domestic postgraduate coursework graduates employed full time and surveyed between 2022 and 2024 in the Graduate Outcomes Survey by Quality Indicators for Learning and Teaching (QILT).
This means that while a postgrad program is indeed a financial investment, it doesn't typically take long for it to start paying itself off.
Promotions
Completing a master's degree isn't necessarily a direct shortcut to a salary increase. More often, your extra degree will help you rise to a higher position that comes with a more generous salary.
The lucrative and more satisfying role you’d like may only be available to candidates with postgraduate qualifications. For example, some of the most high-paying jobs that usually require a master’s degree include:
- aerospace engineer ($115K–$135K average annual salary in Queensland)
- architecture manager ($140K–$160K)
- information systems manager ($140K–$160K)
- data scientist ($115K–$135K)
- economist ($85K–$100K)
- epidemiologist (~$113K)
- financial manager ($125K–$145K)
- nurse practitioner ($150K–$155K)
- occupational therapist ($85K–$100K)
- petroleum engineer (~$129K)
- psychologist ($100K–$110K).*
*Average salaries taken from Seek and Indeed, last updated April 2025.
This is far from an exhaustive list. Many industries have high-paying jobs that tend to be filled by people with postgraduate education.
Employment rates
These statistics about pay increases and promotions are nice and all. But getting a job in the first place might be your top priority and therefore the most significant reason why a master's degree is important.
QILT's 2023 Graduate Outcomes Survey provides insight into this, revealing that 93.9% of coursework postgraduates are employed (vs 88.9% of undergraduates), and that 90.3% of coursework postgraduates have full-time employment (compared to 79% of undergraduates).
Why is doing a master’s worth it? (Personal outcomes)
Satisfaction
Not every reason to do a master’s degree can be measured or calculated.
The sense of accomplishment and fulfilment that comes with truly mastering your area of interest may not add another zero to your salary, but this could still be the most valuable benefit for you. Postgraduate study may be a key step towards discovering your ikigai (your life purpose). Or it may help you feel truly comfortable in your career (e.g. speaking with more confidence in the workplace or overcoming imposter syndrome).
Futureproofing
During uncertain times, extending your education can give you the adaptability and transferrable knowledge to pivot into new roles. Nobody knows what the world might look like in the coming decades, but a master’s degree can help you prepare for it.
You may also choose to study a master’s degree in a specific field or industry that is more stable than your current profession or is projected to grow in the future. Doing so can give you more career options and help you bounce back if your existing role ceases to exist.
“Investing in up-skilling in a growing field could help you gain job security, future-proof your career and increase your earning potential.”
New connections
The teachers aren’t the only important people you’ll meet and learn from during your master’s degree. Postgraduate study also provides the opportunity to stretch your professional network and make lifelong connections with like-minded peers.
Why is a master's important for you?
As you can see, there are plenty of strong reasons to do postgraduate study. But whether doing a master’s degree is worthwhile ultimately comes down to your needs and motivations – as well as how much you value them.
For example:
- If you’re feeling stuck in your career or missing key milestones such as promotions and pay rises, a postgraduate degree could be an essential stepping stone towards improving your career satisfaction.
- If excelling in your field and being a thought leader in your organisation is important to you, a master’s could give you a crucial step-up.
- If you’ve discovered a deeper passion in a different line of work, further study could be the ideal way to sidestep into a new industry without having to start from scratch.
Conversely, if you’re comfortable with your current role, trajectory, salary and knowledge level, the answer to the question 'should I do postgraduate study?' may be 'perhaps not at this stage in my career'.
Understanding your reasons and their importance is vital when enrolling in postgraduate study. Not only does this help you successfully complete your degree, but it also ensures you enter your studies with the right mindset to get the most out of your time back at uni.
