Perhaps, but given the paucity of data about its value in the workplace as a driver of greater achievement and advancement, the truth is we don’t know. A snapshot of one recent year shows that 760,000 master’s degrees were awarded. So, does this give you a leg up on someone who has only achieved a bachelor’s? Mark Schneider, a visiting scholar at the American Enterprise Institute, says that depends on a range of factors, including where you live, where you attained the master’s and what your area of concentration was. One thing is for certain. Colleges and universities see this degree as a cash cow and we explain why that’s the case. More knowledge is good for its own sake, of course, but before you shell out $40,000 to $80,000 to earn the degree, you might want to listen to this episode.