In the academic year of 2020/21, about 202,334 Master's degrees were earned in business across the United States, making it the most common master's degree earned. In that same year, another 47,257 Master's degrees were earned in engineering.

In the academic year of 2021/22, about 880,250 students were awarded a Master's degree in the United States. This figure is projected to increase by the academic year of 2031/32, when it is forecasted that 1,000,460 students will be awarded a Master's degree.

Graph and download economic data for Unemployment Rate: College Graduates: Advanced Degree: Master's Degree and Higher, 25 years and over, Men (CGAD25OM) from Dec 2014 to Jun 2025 about master's degree, males, 25 years +, tertiary schooling, education, household survey, unemployment, rate, and USA.

In the academic year of 2022, it is expected that 551,460 female and 331,530 male students will earn a Master’s degree in the United States. These figures are a significant increase from the academic year of 1950, when 16,980 female students and 41,220 male students earned a Master’s degree.

What is a Master’s degree?

A Master’s degree is an academic degree granted by universities after finishing a Bachelor’s degree. Master’s degrees focus in on a specific field and are more specialized than a Bachelor’s. A typical Master’s program is about two years long, with the final semester focusing on the thesis. Master’s degree programs are usually harder to get into than Bachelor’s degree programs, due to the rigor of the program. Because these programs are so competitive, those with a Master’s degree are typically paid more than those with a Bachelor’s degree.

Master’s degrees in the United States

The number of master’s degrees granted in the United States has steadily increased since the 1970s and is expected to continue to increase. In 2021, the Master’s degree program with the worst job prospects in the United States by mid-career median pay was counseling, while the program with the best job prospects was a physician's assistant.

Graph and download economic data for Unemployment Level - College Graduates - Master's Degree, 55 to 64 years, Women (CGMDUW5564) from Jan 2000 to Jun 2025 about master's degree, 55 to 64 years, females, tertiary schooling, education, household survey, unemployment, and USA.

About 3,785 master's degrees were earned in the United States by American Indian or Alaskan Native students in the academic year of 2020/2021. Additionally, 460,320 master's degrees were earned by white students, and 98,246 were earned by Black students.

With the enactment of the Higher Education Opportunity Act (HEOA) of 2008, five Predominantly Black Institutions are eligible to receive funding to improve graduate education opportunities at the master’s level in mathematics, engineering, physical or natural sciences, computer science, information technology, nursing, allied health or other scientific disciplines where African American students are underrepresented. Types of Projects Institutions may use federal funds for activities that include: Purchase, rental or lease of scientific or laboratory equipment for educational purposes, including instructional and research purposes; Construction, maintenance, renovation and improvement in classroom, library, laboratory and other instructional facilities, including purchase or rental of telecommunications technology equipment or services; Purchase of library books, periodicals, technical and other scientific journals, microfilm, microfiche, and other educational materials, including telecommunications program materials; Scholarships, fellowships, and other financial assistance for needy graduate students to permit the enrollment of students in, and completion of a master’s degree in mathematics, engineering, physical or natural sciences, computer science, information technology, nursing, allied health, or other scientific disciplines in which African Americans are underrepresented; Establishing or improving a development office to strengthen and increase contributions from alumni and the private sector; Assisting in the establishment or maintenance of an institutional endowment to facilitate financial independence pursuant to Section 331; Funds and administrative management, and the acquisition of equipment, including software, for use in strengthening funds management and management information systems; Acquisition of real property that is adjacent to the campus in connection with the construction, renovation, or improvement of, or an addition to, campus facilities; Education or financial information designed to improve the financial literacy and economic literacy of students or the students’ families, especially with regards to student indebtedness and student assistance programs under title IV; Tutoring, counseling, and student service programs designed to improve academic success; Faculty professional development, faculty exchanges, and faculty participation in professional conferences and meetings; and Other activities proposed in the application that are approved by the Secretary as part of the review and acceptance of such application.

China Number of Graduate: Postgraduate: Master Degree data was reported at 927.629 Person th in 2023. This records an increase from the previous number of 779.845 Person th for 2022. China Number of Graduate: Postgraduate: Master Degree data is updated yearly, averaging 334.613 Person th from Dec 1997 (Median) to 2023, with 27 observations. The data reached an all-time high of 927.629 Person th in 2023 and a record low of 38.051 Person th in 1998. China Number of Graduate: Postgraduate: Master Degree data remains active status in CEIC and is reported by Ministry of Education. The data is categorized under China Premium Database’s Socio-Demographic – Table CN.GD: No of Graduate: Higher Education: By Region.

In 2024, about ****** master's degrees were awarded in South Korea, showing a slight increase from the previous year. The overall number of graduates receiving master's degrees has increased over the past few years.

Graph and download economic data for Unemployment Level: College Graduates: Advanced Degree: Master's Degree and Higher, 20 to 24 years (CGADU2024) from Dec 2014 to Jun 2025 about master's degree, 20 to 24 years, tertiary schooling, education, household survey, unemployment, and USA.

Graduation rates, average time to graduation and number of students in an entry cohort for master's degree students, within Canada, by demographic characteristics.

AU: Educational Attainment: At Least Master's or Equivalent: Population 25+ Years: Female: % Cumulative data was reported at 9.483 % in 2023. This records a decrease from the previous number of 10.030 % for 2022. AU: Educational Attainment: At Least Master's or Equivalent: Population 25+ Years: Female: % Cumulative data is updated yearly, averaging 7.910 % from Dec 2013 (Median) to 2023, with 11 observations. The data reached an all-time high of 10.030 % in 2022 and a record low of 5.620 % in 2013. AU: Educational Attainment: At Least Master's or Equivalent: Population 25+ Years: Female: % Cumulative data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Social: Education Statistics. The percentage of population ages 25 and over that attained or completed Master's or equivalent.;UNESCO Institute for Statistics (UIS). UIS.Stat Bulk Data Download Service. Accessed April 5, 2025. https://apiportal.uis.unesco.org/bdds.;;

In 2021, the District of Columbia had the most highly educated population in the United States, with **** percent of the population over the age of 25 having an advanced degree. Massachusetts had the next most educated population, with **** percent of residents having an advanced degree. For the United States as a whole, this figure stood at **** percent of the population.

An advanced degree includes graduate and professional degrees.

United States - Unemployment Rate - College Graduates - Master's Degree, 25 to 34 years, Women was 1.80% in May of 2025, according to the United States Federal Reserve. Historically, United States - Unemployment Rate - College Graduates - Master's Degree, 25 to 34 years, Women reached a record high of 7.70 in July of 2010 and a record low of 0.60 in December of 2006. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Unemployment Rate - College Graduates - Master's Degree, 25 to 34 years, Women - last updated from the United States Federal Reserve on June of 2025.

In 2022, approximately 3.3 million people in Bangladesh had a Master's or equivalent level degree. In the same year, Indonesia recorded around 1.1 million Master's degree holders.

United States - Civilian Labor Force - College Graduates - Master's Degree, 55 to 64 years was 3166.00000 Thous. of Persons in May of 2025, according to the United States Federal Reserve. Historically, United States - Civilian Labor Force - College Graduates - Master's Degree, 55 to 64 years reached a record high of 3344.00000 in October of 2023 and a record low of 1157.00000 in July of 2000. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Civilian Labor Force - College Graduates - Master's Degree, 55 to 64 years - last updated from the United States Federal Reserve on June of 2025.

Proportion of students who started in a master's degree program and graduated with a different educational qualification, within Canada, by demographic characteristics.

AU: Educational Attainment: Doctoral or Equivalent: Population 25+ Years: Female: % Cumulative data was reported at 1.396 % in 2023. This records a decrease from the previous number of 1.670 % for 2022. AU: Educational Attainment: Doctoral or Equivalent: Population 25+ Years: Female: % Cumulative data is updated yearly, averaging 1.150 % from Dec 2014 (Median) to 2023, with 10 observations. The data reached an all-time high of 1.670 % in 2022 and a record low of 0.850 % in 2014. AU: Educational Attainment: Doctoral or Equivalent: Population 25+ Years: Female: % Cumulative data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Social: Education Statistics. The percentage of population ages 25 and over that attained or completed Doctoral or equivalent.;UNESCO Institute for Statistics (UIS). UIS.Stat Bulk Data Download Service. Accessed April 5, 2025. https://apiportal.uis.unesco.org/bdds.;;

AU: Educational Attainment: At Least Competed Short-Cycle Tertiary: Population 25+ Years: Female: % Cumulative data was reported at 50.552 % in 2023. This records a decrease from the previous number of 53.240 % for 2022. AU: Educational Attainment: At Least Competed Short-Cycle Tertiary: Population 25+ Years: Female: % Cumulative data is updated yearly, averaging 43.145 % from Dec 2004 (Median) to 2023, with 20 observations. The data reached an all-time high of 53.240 % in 2022 and a record low of 32.560 % in 2004. AU: Educational Attainment: At Least Competed Short-Cycle Tertiary: Population 25+ Years: Female: % Cumulative data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Social: Education Statistics. The percentage of population ages 25 and over that attained or completed short-cycle tertiary education.;UNESCO Institute for Statistics (UIS). UIS.Stat Bulk Data Download Service. Accessed April 5, 2025. https://apiportal.uis.unesco.org/bdds.;;

Graph and download economic data for Civilian Labor Force - College Graduates - Master's Degree, 16 years and over (CGMDL16O) from Jan 2000 to Jun 2025 about master's degree, tertiary schooling, civilian, 16 years +, education, labor force, labor, household survey, and USA.