By Nadia Anwar-Watts, Fourth Year, Music and German
The final months of university are a time of relief and celebration, posed against a looming uncertainty about our futures post graduation. After years of structured learning, we are suddenly forced to navigate the transition from education and living with friends, to professional working life. For many, the thought of leaving the familiarity of university life is overwhelming, so it’s no surprise that increasing numbers of graduates are opting to pursue a master's degree – not necessarily because it aligns with their career aspirations, but because it seems like the most palatable option.
Between 2017/18 and 2022/23, the number of postgraduate students in the UK rose by a staggering 65 per cent, according to the Higher Education Statistics Agency (HESA). In 2022/23, over 548,000 students were enrolled in postgraduate study, compared to just over 332,000 five years earlier. This surge reflects a shift in attitude towards entering the professional world, following decreasing levels of postgraduate employment. Graduates are increasingly encouraged to prolong their studies to gain an edge in a fiercely competitive job market, whereby positions advertised as ‘entry-level’ often require a minimum of one year of professional working experience. Yet, as the phenomenon of the so-called panic masters reveals, this choice is not always as calculated as it might seem.
To gain an understanding of this phenomenon, Epigram spoke to Harry, a recent neuroscience graduate from Bristol, who had planned to pursue a master's degree before ultimately deciding against it: ‘I chose to do the masters because I didn’t really want to go back home’, he admitted. ‘I also didn’t feel ready to finish uni and was just scared about what I would do next.’
His decision to cancel his enrolment stemmed from a realisation that his motivations were flawed. ‘The course I chose was way different to my undergrad course’, he explained, ‘I wanted to go into something else but later realised I wasn’t actually interested in it and hadn’t done the proper research. All the reasons I decided to do it were not good reasons, which is why I eventually chose not to go ahead with it. I think if you choose to do a master's, you should have a particular career in mind.’ Harry noted that now, six months after graduating, he hasn’t regretted his decision at all.
Leah, a final-year classics student, is in the process of deciding whether to pursue a master's. Speaking to Epigram, she described the factors which are pulling her to stay in Bristol for one more year: ‘I’m not ready to leave my friends or move back home’. ‘Doing a master's feels like a way to delay real life’, she continued, ‘while also giving myself the chance to pivot into something new—like film, which I didn’t study as an undergraduate but want to pursue professionally.’

When asked about the financial implications of a master’s, Leah acknowledged the high cost of the decision, but responded, ‘I would feel bad to move back home and add more financial strain onto my parents. Plus, I would get 25% off the fees if I stay in Bristol, which is quite tempting’. Leah’s reflections capture a common sentiment among graduates: the desire to prolong the safety of university life whilst keeping career options open.
The statistics appear to validate this instinct. Postgraduates are, on average, 12 per cent more likely to secure professional-level employment than bachelor’s degree holders. Furthermore, a 2024 government report on the Graduate Labour Market found that the median salary for postgraduates stands at £45,000 – £6,500 more than their undergraduate counterparts and £18,000 more than non-graduates. These figures underscore the potential benefits of further study, particularly in a challenging labour market.
Yet, the reality is not always as straightforward as the numbers suggest. In 2023, employment rates fell for both graduates and non-graduates, with a 0.8 percentage point decrease for young graduates and a 2.0 percentage point decrease for non-graduates. Moreover, the demand for jobs continues to outpace available positions, with Adzuna reporting a 30.2 per cent decline in graduate job vacancies between February 2023 and February 2024. While a master's degree may enhance employability, it is no guarantee of immediate success.
Compounding this uncertainty is the issue of ‘entry-level’ roles requiring professional experience – a frustrating paradox for many recent graduates. With limited opportunities to gain meaningful work experience alongside undergraduate studies, the prospect of postgraduate study often feels like the only viable route forward. Yet, as Harry’s experience illustrates, rushing into a master's without a clear sense of direction could lead to regret and wasted resources.
Beyond the professional and financial considerations, the emotional and social factors driving graduates toward further study are significant. Many students find the abrupt end to university life overwhelming. The dreaded question, ‘What are you doing next year?’ looms large, often carrying the implicit expectation of a polished answer. Moving back home or taking time to figure things out can feel like admitting failure in a culture that prizes productivity and forward momentum.
Nonetheless, taking time to reflect and explore alternatives can be a valuable step. Gaining work experience, volunteering, or even taking a gap year can provide clarity and perspective that might not be possible when transitioning straight into further study. While master’s degrees can open doors, they should not be pursued as a default option or a means of avoiding difficult decisions.
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Ultimately, the decision to undertake a master's degree is a personal one and should be approached with careful consideration. For some, it represents an essential academic step toward achieving specific career goals. For others, it may be more beneficial to spend time gaining practical experience or reassessing long-term ambitions. But if you are able to overcome the financial barrier, delaying ‘real life’ for one more year to live with friends and ease into the professional world whilst gaining a master's degree, the panic masters really isn’t something to be ashamed of.
Featured Image: Epigram / Nel Roden
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