Getting a Second Masters Degree in the UK

It is possible to get a second Masters degree in the UK. There are several reasons why someone might choose to do so — from boosting employability, changing direction and returning to postgraduate study after a break. The UK Government loans typically do not cover a second Masters but there are alternative options available like funding from charities, trusts and universities.

Some people collect stamps, some collect degrees! They have one thing in common — they’re both equally time and money consuming. I can’t speak for the returns of stamp collecting, but I can tell you, while a second Masters might widen your expertise, there is much to consider when thinking about returns.

If you’re keen to add another feather to your cap and another few letters to your LinkedIn bio, stick around. I’ll go through some common concerns surrounding second Masters degrees starting with the big one — funding. I’ll also touch upon how a second degree might affect your career and if you should do one instead of a PhD.

Funding a second Masters degree

If you’re applying for a second Masters degree, you (unfortunately) won’t have quite as many funding options as you did the first time. In the UK, you won’t be eligible for a government postgraduate loan if you already have a Masters degree (or equivalent). This is because the loan is primarily intended for a first postgraduate degree.

You can still explore alternative sources of funding such as postgraduate scholarships, financial aid from charities or even sponsorship from your employer. Make sure you check the eligibility criteria carefully before you apply — already possessing a Masters degree may disqualify you in some cases.

Many organisations will still accept applications from those wishing to fund second Masters degrees. The Chevening Scholarship, for example, is available for those returning to postgraduate education, as long as you can clearly explain your motivations for doing so.

Employability after a second Masters

The question on everybody’s mind — will a second Masters degree make me more employable? The short answer is. . .not necessarily. There’s no simple correlation between the number of qualifications you attain and your employability, which is why it’s important to consider precisely how a second degree will benefit you in your career.

There is evidence to suggest that a Masters degree does have a positive impact on your employability and earnings, whether multiple degrees will grow them exponentially is still to be proven.

A lengthy list of accolades on its own won’t be enough to make you stand out – you’ll need to ‘sell’ your qualifications to potential employers.

Earning multiple degrees will equip you with a unique combination of skills and knowledge across several areas that others may not possess. For example, Masters degrees in both Environmental Science and Economics may form a powerful combination for someone applying for jobs in Environmental Policy. You’ll gain in-depth knowledge of two subject areas impacting your chosen field and be better placed to understand how they interact with one another which could be compelling for the company.

That said, while a second Masters degree may prove advantageous when applying for jobs, it is highly unlikely to be a requirement. Given the time and financial commitments required to complete a postgraduate course, you’ll want to make sure an additional qualification doesn’t ultimately prove superfluous. Could your time be better spent attaining practical experience in your chosen field?

Second Masters vs PhD

If you’re coming to the end of a Masters programme and considering further study, you might be wondering whether a second Masters or a PhD is the next logical step. This will ultimately depend on whether you wish to diversify or refine your expertise.

A PhD offers the opportunity to research and defend a specific thesis. It is usually expected that you have a strong dedication to the subject you intend to focus on, so it would be advisable that you apply for a PhD in the same discipline as you studied for your first Masters. If you’re looking to branch out into a new subject area, a second Masters degree may be a better choice.

If your goal is to acquire new skills for the purpose of widening your career options, a second Masters degree would, again, be the better option. A PhD, while allowing you to significantly deepen your understanding of a specific area, requires you to focus on a very narrow specialisation. You should consider a PhD with precise research and career goals in mind.

Returning to study for a second Masters

There can be several reasons you might want to revisit postgraduate study after some time in the workplace. You may want to get yourself up to speed with recent developments in your field. For example, if you have a Masters in Finance and have long been working in that sector, you might consider an MSc in Financial Technology in order to better understand the implications of technological innovation for your industry.

A second Masters degree could help you pivot into a distinct but related field. Maybe you’ve already studied Data Science and are now looking to gain specialised knowledge in Artificial Intelligence. You could even be considering an entirely different career path – it’s never too late to pursue new interests, and a second Masters degree can be an excellent way to do so!

Tips from the author

#1 The numbers game is important

It is likely you won’t be able to apply for a UK Masters loan if you’re doing a second Masters. Whilst there are funding options still available, you will likely need to self-fund at least part of your studies. If you’re thinking of tapping into your savings, it’s a significant decision that shouldn’t be taken lightly. Additionally, taking time away from work or delaying your entry into the job market will have financial implications too.

#2 You can do it just for you  

I’ve spent most of this guide encouraging you to think carefully about the practical side of doing a second Masters. But here’s one last thing — are you truly passionate about it? If the answer is yes, then go for it! Of course, affordability still matters and it’s something you’ll need to plan for.  But if you can make it work, you owe it to yourself to give your passions a real shot.

Frequently Asked Questions

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