The number of people seeking master's degrees increased by 66 percent between the 2000-2001 school year and 2015-2016, according to the U.S. Department of Education's National Center for Education Statistics. Yet there is "a tremendous range" in how long it can take to get a degree, says Sean Gallagher, executive director at the Center for the Future of Higher Education and Talent Strategy at Northeastern University, especially as universities have adapted graduate education to meet the needs of working professionals.

Master's Degree Credit Requirements

Master's degree programs can vary from intensive, full-time programs that take only a year to complete, to part-time programs that can take five years or longer, Gallagher says. "There's more flexibility and many more options compared to the master's programs of 20 years ago, or say, even five to 10 years ago, with the continued growth in online education," he says.

Programs are increasingly trying to cater to all types of students by providing more options. These include:

• Intensive, full-time, one-year programs.

• Part-time degree programs.

• "4+1" programs, where a student can earn both a bachelor's and master's degree in five years.

Adam Fein, vice president for digital strategy and innovation at the University of North Texas, says the average master's program requires 32 to 36 credit hours, which translates to about eight to 10 courses. But some master's programs require as many as 60 credits. How long it will take a student to complete the requirements depends on whether he or she is full time or part time; studying continuously or taking breaks. Fein says it's not uncommon for master's students to take a break for a semester for life events, such as getting married or a job promotion that requires more focus at work, which can add to the amount of time the program takes. Most programs have limits on how long you can take to get a master's degree, maxing out at five to seven years, he says.

Flexibility of Master's Programs

The classic master's degree model of "going to graduate school," where someone stops working and focuses on being a full-time student, often takes about two years, Gallagher says. But now part-time master's students make up almost as much of the market as full-time students. The share of master's students who study part time is 43 percent, according to the most recent numbers from the National Center for Education Statistics. Online programs are also still gaining ground. 

Hines says her program was expected to take 24 months, but she managed to complete it in a little under two years by taking courses continuously, including summers, and taking advantage of an opportunity that allowed her to get credit for a course through her work experience. "We all had the option to work closely with our adviser and professors to determine if we could customize our course load and schedule to finish earlier, which is what I did," she says.

Micro credentials, which allow students to get a certificate in a particular topic area first and stack them toward a degree, are growing in popularity, Gallagher says. For instance, by taking three classes in accounting to get an initial certificate one can build upon, students are making a shorter time commitment, while potentially forging a pathway to a master's degree because the credits can be "stacked up" toward a degree later on.

Fein adds, "The key for higher education institutions is providing flexibility. We can't assume anything about the student. We need to have options for them by making sure things are stackable and flexible." Jobs that require a master's degree are the fastest-growing segment of the economy among education classes. The U.S. Bureau of Labor Statistics projects occupations with an entry level degree of a master's are expected to grow at a rate of 13.8 percent between 2014 and 2024. The good news is you no longer need to drop out of the workforce and forego a salary to gain a master's degree, Gallagher says. "You can actually do both," Gallagher says. "And not only can you do both, but today there are more models where your work, and the projects you work on in your degree, will be much more intertwined."