Assessing the impact of Master's degree in education on the salaries of graduates of Russian universities

Subject. The article investigates the impact of Master's degree in education on the salaries of graduates of Russian universities. Objectives. The purpose is to obtain empirical assessment of the impact of Master's degree on the salary level. Methods. The study employs statistical methods of data analysis, in particular regression analysis, panel regressions with random effects. Results. Based on the use of panel regression with random effects, controlling the expected work experience, education, and other factors, I assessed the effect of Master's degree on salary level. The availability of Master's degree increases remuneration by 16 thousand rubles on average, or by 24% relative to Bachelor's degree graduates, the effect is higher for women. Conclusions. Although the Master's degree is not a mandatory stage of higher education, it is highly likely to be useful for university graduates who do not plan to develop in teaching or science.