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After students complete undergraduate work at a university, many of them eventually decide that pursuing a Master's degree will help them advance in their field. In some professions such as teaching or school administration, a Master's degree is a must,schools will not continue to employ a teacher who does not have this degree. In other professions, a Master's degree is a way to gain a higher salary. Just having this degree while employed equals a higher salary and, often, more responsibility. When pursued full-time, Master's degrees can generally be obtained in 1-3 years.