The correct placement is after "master." The only time that you
would use it after the 's' is if there were many masters
(plural).
An example would be "Bob achieved his Master's Degree with
honors."
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For colleges and universities within the United States, you must
have a bachelor's degree before pursuing a master's degree. The
master's degree is advanced study that follows the bachelor's
degree.
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Master's Degree. The person who earns it is the "master", and it
is their degree, hence possessive form: Master's.
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Its Master's degree. anywhere you look it will come up Master's
even if you type in Master. Also my aunt is a lawyer and I asked
her, I even looked it up in the new Collage Webster Dictionary so
it is defiantly Master's