Value of master's degree holds steady for MSPs
Editor’s note: The following is an excerpt from the 2020 MSP Salary Survey Report. Want to see the results of the 2022 MSP Salary Survey? Participants of the 2022 survey receive an exclusive, executive summary of the report. To take the survey, click here.
In line with national workforce trends, salaries are larger for MSPs with advanced education. This is according to Credentialing Resource Center's 2020 MSP Salary Survey Report. Respondents with a bachelor’s degree were most likely to report earning in the $70,001–$85,000 range (22.8%). Those with a master’s degree were most likely to report salaries of $100,001–$120,000 (26.5%).
The difference that a college degree can make is particularly stark in the upper salary echelons: More than one-quarter (26.5%) of respondents who hold a master’s degree make more than $120,000, compared to 0% of those who reported a high school diploma as their highest level of education. Additionally, the value of a graduate degree appears to be holding steady: 53% of this year’s respondents with a master’s degree earn more than $100,000, compared to 53.6% in 2018.
Newer entrants shouldn’t count on a similar career trajectory without obtaining a college education, according to experts. Across industries, calls for four-year degrees are becoming more emphatic, and medical staff services is no exception.