Advanced degrees can mean more pay

Holding an advanced degree in your field could earn you more money, but it doesn't necessarily mean you'll have the traits an employer is seeking in a job applicant.

Advanced degrees like a master's in accounting or health management could pave the way for a larger salary during your working lifetime, according to a business professor at Southeast Missouri State University. Officials at two recruiting and staffing firms don't disagree, but they say some employers want more than degree-toting employees -- they want people with attributes that can't be taught, such as good behavior, good attitudes and reliable attendance.

Dr. Ken Heischmibt, director of Graduate Business Programs in the Harrison College of Business at Southeast, said businesses that become more professional will require more employees with advanced degrees. He said as companies grow, so does the need for highly educated and highly trained people.

"Large businesses that use marketing firms to recruit employees go to AACSB-accredited business programs, like the one here at Southeast," said Heischmibt. "A lot of literature suggests a person with a master's degree will get hired faster and promoted quicker than a person with a bachelor's degree."

Heischmibt said the Masters in Business Administration program at Southeast gives students seven degree options -- accounting, environmental management, financial management, general management, industrial management, international business and health administration. 

Heischmibt said people with a master's degree will make about $1 million more than a person with a bachelor's degree during their working lifetime.

Marlene Brockmiller, president of Workforce in Farmington, Mo., said many companies do desire highly-educated employees, but some companies prefer people with good work ethics, solid work histories, good attitudes and dependability.

"A lot of companies just don't require workers with high levels of education, but they care about the quality of their work," said Brockmiller. "They need people who will show up for work every day."

Brockmiller said people who work in technical fields will fare better financially with advanced degrees, "but a lot of the backbone businesses in this region just need people who can get to work every day and work safely."

Teresha Weinkein, manager at Kelly Service in Cape Girardeau, said area businesses want the best educated and best qualified workers, but it's also important that employees have positive personal attributes.

"In the staffing world now, baby boomers are retiring, and generation X and generation Y workers have different work philosophies than baby boomers," said Weinkein. "X and Y workers want a work-life balance. They want to balance family and career where baby boomers are more work focused."

Weinkein said companies are trying to accommodate younger employees by offering incentives such as more days off and flexible hours. She said college degrees are important for certain fields of work, but not all.

Heischmibt said Southeast was recently approved to offer a master's degree in general management online.

"We have some people taking online classes this summer," he said. "People in Sikeston and Poplar Bluff can do it from home now."