For most students, the hat toss at commencement signals the end of their time in Binghamton. But for some, holding on another year can pay big dividends with a graduate’s degree.

A typical master’s degree program takes two years to complete. Accelerated programs, which are available in many Binghamton University departments including education, arts and sciences, business administration and computer science, allow students to complete their degree in one additional year. Students combine their first year of master’s courses with their fourth year of bachelor’s courses and complete the master’s degree during their fifth year.

“You’re essentially doing the first year of your MBA program and sort of getting double credit for it, and as a bonus you pay undergraduate tuition,” said George Bobinski, the associate dean of the School of Management. “It’s a tremendous deal.”

The fast track program can save in-state residents roughly $4,000 of annual tuition. According to the University website, undergraduate tuition for New York state residents costs $6,470 annually and $10,370 annually for graduate studies. Out-of-state undergraduates and graduates pay around $19,000 and $21,000 respectively.

According to Bobinski, the accelerated programs give students an advantage, allowing them to start their careers early. Especially for business and accounting jobs, he said, having a master’s degree is an investment for the future.

“At some point the undergrad degree is not necessarily the terminal degree that you need,” Bobinski said.

Although a bachelor’s degree is sufficient to become a licensed, practicing engineer, said Timothy Singler, associate professor of mechanical engineering, there have been recent debates as to whether or not the master’s should be the terminal, or final, degree.

“Do you want engineers making the planes that you fly on with four years of engineering school?” Singler said. “It’s not illogical that people would consider making the terminal degree a master’s degree.”

Eitan Cohen, a fifth-year student pursuing a master’s degree in electrical engineering, said he believed having an advanced degree would be beneficial when searching for jobs. Furthermore, the ability to take graduate courses his senior year drew him to the program.

“I was able to take higher-level classes and at least in my field, that’s the fun stuff, getting into the nitty gritty,” Cohen said.

According to David Campbell, chair and associate professor of the public administration department, pursuing a master’s in public administration at BU has significant advantages.

“Doing a master’s of public administration in Binghamton, compared to doing it in a big city, gives you the opportunity to work closely with people in senior leadership positions,” Campbell said. “You get a closer view of the qualities public service demands.”

Assistant Director of the MS/MBA program Alesia Wheeler-Wade said the fast track program is competitive, requiring, on average, a 3.3 undergraduate grade point average.

Angela Franz, a fifth-year student pursuing a master’s in education, said that the decision to fast track had mixed results because ultimately she had less free time to enjoy her last years of college.

“Even though your senior year is not really your senior year,” Franz wrote in an email, “you get through it and feel a sense of accomplishment knowing that you utilized your time at school well and earned the degrees you wanted.”