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The 8 Best Master’s Degrees for a Recession-Proof Career

Francesca Friday August 8, 2019

Genetic counseling, occupational therapy, and healthcare administration are just a few of the job markets predicted to grow 19-37% through 2026. But first, you'll need a master's degree.

In this course, participants learn core principles, concepts, and methods of continuous improvement and explore the history of continuous improvement efforts. In a series of lectures, Master Black Belt in Six Sigma Shane Wentz, Ph.D., enables learners to enhance, optimize, and stabilize business processes and to augment quality control through varied methodologies. Participants gain the skills and knowledge to reimagine internal processes, engage in advanced problem-solving, and empower employees. The course covers high-level foundational principles of Lean, Six Sigma, and DMAIC processes before diving deep into Lean Six Sigma methods. Learners will analyze the tools of process mapping, Kaizen (a continuous improvement method/tool deemed a prerequisite for Lean transformation success), Lean (a continuous improvement philosophy that emphasizes streamlined workflows and reducing waste), and the process improvement methodology driving DMAIC: Define, Measure, Analyze, Improve, and Control.

Entrepreneurs fostering new ventures outside of well-developed entrepreneurial ecosystems like Silicon Valley face significant challenges. These markets are unlike Silicon Valley, and they will likely remain so. That doesn't mean they can't nurture and sustain new businesses. In transitioning markets that lack abundant private sector financing, creative approaches from government officials, donors, and business leaders can fill the void to support entrepreneurial activity. Northeast Ohio (where Cleveland and Case Western Reserve University are located) has become a laboratory for such innovative solutions. During our time together in this course, we will explore some of these creative approaches to promoting regional entrepreneurship. Northeast Ohio has seen a massive infusion of government and donor resources for over ten years. In that time, Northeast Ohio has promoted regional development (including job creation and follow-on funding) through alternative methods of financing startups. It has not been easy. The region has made progress, but it remains to be seen whether it has struck upon an enduring formula. A dynamic entrepreneurial ecosystem takes many years, even decades, to develop. Government policymakers and donors typically seek quicker returns on their support programs, which makes long-term support for entrepreneurship challenging. This course includes case studies and first-person testimonials from entrepreneurs who have launched products and services ranging from medical devices to LED lights to whiskey. You will learn how these entrepreneurs discovered and procured resources from various programs and intermediary organizations. You will hear from business people still in the process of developing their companies as well as those whose ventures have flourished. Our focus will extend beyond Cleveland to selected markets around the world, including Greece, Vietnam, Tunisia, Argentina, Rwanda and China. You will learn about international incentives and other supports available to developing startups and small businesses across the globe. This course examines how different communities around the world approach implementing strategies and methods to support businesses. I will ask you to reflect on how to apply the principles we learn to growing entrepreneurship where you live. The social interactive features of the online platform will enable students from around the world to share ideas and learn from one another. Most MOOCs rebroadcast professors’ lectures; this course is different. Don’t expect to see me standing in front of the camera, talking and lecturing every module. Instead, the lectures will be relatively short in length. They have more of the feel of an engaging documentary than a static classroom setting. ## __What type of person takes the *Beyond Silicon Valley* course?__ - Active and aspiring businesspeople in communities looking to initiate new startup ecosystems or bolster existing ones - Current and prospective entrepreneurs who want to learn about funding sources, risk management, and the lifecycle of startups - Professionals who work in government agencies, nongovernmental organizations, philanthropic institutions, and various private funds that fund startups - Anyone curious about how to create and grow startup ecosystems outside the major tech hubs - The principles Beyond Silicon Valley teaches have been drawn from and applied to startups worldwide, from small villages to megalopolises. You'll study success stories spanning the globe from Vietnam to Kosovo to Botswana. ## __What will you learn in *Beyond Silicon Valley*?__ - How and where startups can find funding to get their businesses off the ground - What role government can play in encouraging startups and a healthy startup ecosystem - How anchor institutions such as universities and healthcare systems participate in startup ecosystems - How nongovernmental organizations support startups - How to raise funds from venture capitalists, angel investors, and accelerators - How to navigate challenging periods in the startup lifecycle - The importance of mentoring in successful startups

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Fears of an impending global recession have been stoked by the likes of continuously lowering interest rates (thanks to the Federal Reserve) and an ongoing trade war (thanks to...Twitter?). While some analysts predict the prospect of an economic downturn is overblown, rumors of another recession may be enough to send more students on the path towards obtaining undergraduate or graduate degrees.

Let’s break down the likelihood of another recession, and the best degrees to consider should the job market take a turn for the worse.

Rumors vs. reality

One thing to point out—the prospect of another recession is still very much uncertain. How’d we get here?

Since the 2008 Great Recession ended, over 20 million jobs have been created, and in April, the unemployment rate in the United States was just 3.6%—the lowest it's been in half a century.

But, despite the growth of the American job market, the trade conflict between the U.S. and China, among other factors, has sent federal interest rates, stock prices, and commodity prices falling at rapid speed. Export manufacturers have reported their lowest growth rates since 2009, and the government’s long-term outlook on inflation is also looking grim.

Essentially, it’s still too soon to tell whether or not we're headed into a recession. As geopolitical trade disputes continue to play out, the economy hangs in the balance.

Economic recessions spike college and grad school enrollment

A postsecondary degree can help protect against unemployment during times of economic downturn, according to a study by the Brookings Institute. Also, enrolling in a graduate program at the onset of a recession means you can wait a few years before worrying about finding a job—and, as mentioned, be a stronger candidate when you complete your degree, just as the market (hopefully) starts to rebound.

The U.S. Census Bureau reports that during the Great Recession period between 2006 and 2011, enrollment in two-year golleges grew a whopping 33 percent, by 3 million students.

Additionally, a report from the Council of Graduate Schools co-published with the Graduate Record Examinations Board indicates that 2014 graduate school enrollment increased 3.5% from the year before, the largest annual increase since its peak in 2009.

Recessions have also historically prompted the government to distribute more financial aid. Pell Grant expansions initiated during the Great Recession resulted in a quarter of a million students completing a college degree, resulting in $20 billion more in aggregate earnings nationwide, the Council of Economic Advisers reported.

The best master's degrees for a recession-proof career

The chances of a recession hitting are still hard to pin down, but if you're considering graduate school and/or a career change, the below career fields—which are predicted to grow between 19 to 37 percent through 2026—are an excellent place to start. Nothing in life (especially the economy) is guaranteed, and just because the Bureau of Labor Statistics predicts these job markets will grow doesn't mean it'll actually happen. But, the below list, if nothing else, should help guide you toward a degree that has at least a moderately decent chance of providing ample job opportunities when you graduate.

Also, the majority of masters degrees associated with these occupations can be earned via online programs—meaning you can still maintain your full-time employment status while pursuing your graduate degree (thus, avoiding the need to sacrifice your income).

Physician Assistant

Average job growth rate: 37%
2018 median annual pay: $108,610
Graduate degree type: Master of Physician Assistant Studies
Required reading about the benefits of enrolling in physicians assistant degree programs:
- Why You Need to Know About Physician Assistant Studies.
- 9 Reasons to Get a Master's Degree in Physician Assistant Studies

Mathematicians and Statisticians

Average job growth rate: 33%
2018 median annual pay: $88,190
Graduate degree type(s): Master's of Operations Research, Analytics MBA, Master's in Business Intelligence, Master's in Data Science
Required reading about the best online programs for a graduate degree that will deliver the skills and experience needed to pursue a mathematics and statistics career path:

Nurse Practitioner

Average job growth rate: 31%
2018 median annual pay: $113,930
Graduate degree type: Master of Science in Nursing
Required reading about the growing need for nurses in our country, and what to expect in an average annual salary with a graduate degree in nursing:
- Which States Have the Highest-Paying Nurse Practitioner Jobs?
- How to Become a Family Nurse Practitioner

Genetic Counselor

Average job growth rate: 29%
2018 median annual pay: $80,370
Graduate degree type: Master's in Genetic Counseling
Required reading about the education required to pursue a genetic counseling career path: How to Become a Cancer Genetic Counselor: A Job Where Science Meets Compassion

Occupational Therapist

Average job growth rate: 24%
2018 median annual pay: $84,270
Graduate degree type: Master of Occupational Therapy
Required reading about the skills you'll develop—and the jobs you'll find—with a master's in occupational therapy:
- What Can You Do With a Master's in Occupational Therapy?
- 9 Reasons to Earn Your Master's in Occupational Therapy

Marriage and Family Therapy

Average job growth rate: 23%
2018 median annual pay: $50,090
Graduate degree type: Master's in Marriage and Family Therapy
Required reading about the average annual salary and variety of experience available to those on a marriage and family therapy career path:

Medical and Health Services Manager

Average job growth rate: 20%
2018 median annual pay: $99,730
Graduate degree type(s): Master's in Healthcare Administration, Master's in Healthcare Management, Master's in Public Health
Required reading about the average annual salary, education requirements, and career fields in medical and health services:

Computer and Information Research Scientists

Average job growth rate: 19%
2018 median annual pay: $118,730
Graduate degree type(s): Master's in Computer Science, Master's in Information Technology, Master's in Information Systems, Master's in Geographic Information Systems
Required reading for computer and information science graduate programs (and the related career path):

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