Master's degree is not needed, but a college degree is a must if you want to work professionally in the academic research field. Refer to an educational essay posted below.
Is a College Education Really Needed?

A college education is worth the effort and the cost. The cost of college is high and good jobs are scarce but applicants without a college education will have difficulty obtaining a good job. When the costs are compared against the benefits, college is the clear winner. By going to college, the student will receive the lifelong benefits of higher earnings and better job opportunities. Even though there are people who complain the cost of college is too high and not work the cost, the truth is college is necessary for obtaining the skill necessary to obtain a good job.
College is an extension of the education received by the student in high school. According to the U.S. Census Bureau, people who graduate with bachelor's degrees will earn nearly twice as much as the person who ends their education at the high school level or with a G.E.D. The problem is a high school education is not adequate enough for many employers. Even with the high expense of college, the economic benefits will far outweigh the cost. Within a few years, a college student can pay of their debt while enjoying a higher salary due to their efforts.
College increases the probability, the college graduate will land a good job and have superior earning power. When a citizen is looking for a job, there will be immense competition for jobs with good salaries and career opportunities. Many employers will be seeking applicants with a minimum of a bachelor's degree. Without a college degree, there will be many jobs not available to the high school graduate. Even though there are many success stories involving people who only earned a high school degree, these instances are rare.
College provides additional skills and knowledge to the college student which can be applied in the work setting. The college student is more marketable in the job market because of this additional knowledge. Some people believe college is not worth the hassle or the expense. This is not true. Employers seek employees who were willing to expend the time and the money on earning a higher education degree. Its show s employers, the applicant is capable of setting and accomplishing difficult goals.
Once the college graduate obtains a job, they have better opportunities for career growth due to their education. College assists the student in developing the critical thinking and problem solving skills sought after by employers. Even though college can be expensive, the increased earning power of the college graduate can be outweighed by the increase in salary. According to research by Baum et al., a worker with a college degree made an average of $17,500 more annually than their peers with just a high school degree. The college graduate is also less likely to be unemployed over the high school graduate.
Even though there are people who complain the cost of college is too high and not worth the price, the truth is college is necessary for obtaining the skills necessary to obtain a good job. College is not a gamble but a solid path to future success. The additional earning power of the college student can be used to pay off any college debt. The college graduate will enjoy the economic benefits provided by their education and the job opportunities. People in the job market without a college education will struggle to obtain the same quality of jobs as the college graduate. College is worth the effort and the cost.