Writing Tip 398: “Bachelors” or “Bachelor’s” degree? (Is there an apostrophe?)

There’s nothing like the pride of earning that diploma after years of hard work, but there can be little more embarrassing than making a mistake when talking about your well earned degree.
Is it a “bachelors degree” or a “bachelor’s degree”?
Is it a “masters degree” or a “master’s degree”?
Since the youngest of your school days, punctuation has been out to get you hasn’t it? Just kidding. That punctuation can do you no more harm than an angry emoticon (different from an emoji … more on that soon), but not knowing your punctuation marks can be a roadblock when it appears on your resume.
It’s widely understood that carrots can keep your eyesight healthy, but as an editor, I’d argue that carets can help your eyes see better too (or they can at least help you notice things you might not have seen before). As for karats and carats, I suppose a certain amount of bling can make anything sparkle brighter.