A master's degree is an advanced college degree, or a graduate degree, that someone pursues after completing an undergraduate degree program. Program lengths typically vary from 18 to 24 months, and from 36 to 54 semester credit hours.
A person typically pursues a master's degree to gain a specialized knowledge in a given field. In a competitive career field, a master's degree is required or helpful for getting a job. Increased earning potential is also common with a master's degree. A Master of Business Administration, or MBA, is one of the more common types of master's degrees. An MBA is intended for people who want to achieve management or leadership positions within the business arena.