A PhD is a fairly specialized degree, and there are only a limited number of places where you can find work that matches this skill set. The problem isn’t that you can’t meet those skills, but the problem is how others offering the job perceive how you fit into that job. Example: if you do a doctorate in business administration, you will learn much more than an MBA and you can teach MBAs. However, if you are looking for an MBA job, you will usually be ignored because few people understand it.
Specialized degrees such as doctorates have a limited number of doctoral positions worldwide. For example, you will likely do research or teach at universities or research institutes, of which there are only a handful in the world. Yes, there are many universities, but if you compare the number of universities and companies, you will quickly see that there are many more companies than universities in the world. Fewer opportunities are available for PhDs.
Career prospects
Masters degrees generally prepare you for a career outside academia, while doctorates are designed to lead to a career in research.
There are two types of masters: terminal and intensive research. Career prospects are different for each of them.
Master:
In most cases, a basic undergraduate degree will be required to enroll in all masters. They usually all have the same thesis or dissertation request for their degree.
Completion of a master’s degree in a taught program will lead to the completion of a master of arts (MA), master of science (MS) or master’s degree in Philosophy (MPhil). For those who obtain the master’s degree through research, they will obtain a Research Master’s degree (MRE), in a suitable field of study. Graduate-specific master’s degree programs such as the Master of Business Administration (MBA) and Master of Education (M.Ed) are also available.
HND/basic degree
What is a basic degree? The Higher National Diplomas (HND) and Foundation Diplomas are work-based Level 5 courses equivalent to two years of college. They can either continue directly into a career or be “retired” with further studies to obtain a full degree.
How long will it last? A full-time HND/graduate undergraduate course will take approximately two years, while part-time courses will take longer.
Level of specialization
A master’s degree, whether MSc, MRes or MPhil, aims to provide you with targeted knowledge that builds on what you would have learned from your primary degree. Although each type of master’s degree has its own focus, such as a master’s degree in practical knowledge and an MPhil in research skills, the specialization they offer is not as deep as that offered by a doctorate. This is because they have a broader curriculum and generally use many teaching methods, including lectures and tutorials, which provide a range of information on many closely related topics.
Doctorates are the highest form of university degree you can obtain and offer more specialized knowledge than any master’s degree. Unlike master’s degrees, which rely on a combination of teaching methods and curriculum, doctorates are research-only degrees and focus on a specific research question.