In this work, the current state of research concerning the determination of the effective mass in 2D layered perovskites is presented. The available experimental reports in which the reduced effective mass μ has been directly measured using magneto-absorption spectroscopy of interband Landau levels are reviewed. By comparing these results with DFT computational studies and various other methods, it is concluded that depending on the approach used, the μ found spans a broad range of values from as low as 0.05 up to 0.3 me. To facilitate quick and reliable estimation of μ, a model is proposed based solely on the available experimental data that bypass the complexity of interband Landau level spectroscopy. The model takes advantage of the μ value measured for (PEA)2PbI4 and approximates the reduced effective mass of the given 2D layered perovskites based on only two experimental parameters—the diamagnetic coefficient and the effective dielectric constant. The proposed model is tested on a broad range of 2D layered perovskites and captures well the main experimental and theoretical trends.