Earning a Masters can certainly increase your earning potential. According to a survey conducted by the Graduate Management Admission Council (GMAC), the median base salary for recent Masters graduates in the United States was $115,000 in 2020, compared to $85,000 for those with just a bachelor's degree.
However, the impact a Masters has on salary can depend on several factors, including the industry, location, and job function. Besides salary increment or promotion, a Masters can help you develop valuable skills and knowledge that can be applied to a variety of industries and roles, making you a more desirable candidate for high-paying positions. But it's worth noting that a Masters program can be expensive, and you should carefully consider the potential return on investment before committing to one.