When it comes to boosting your earnings, one smart move is going back to school for a post-graduate degree. Getting a Post Grad Degree often means you’ll earn more money.
For example, if you have a bachelor’s degree in business, you might make around $60,695 in 2022. But if you have a master’s degree, your earnings could go up to $71,021. For engineers, having a bachelor’s degree could mean making about $73,922 in 2022, which is good. But having a master’s degree in the same field could get you about $85,096.
Some post-graduate programs can even lead to much higher pay increases. Let’s explore ten careers that need advanced degrees and offer some of the best salaries. The info we’re using is from the Bureau of Labor Statistics and is up to date as of 2021.
Here are the key points to take away:
- If you get an advanced degree, you’ll likely earn a lot more than if you have just a bachelor’s degree.
- Even if a job doesn’t demand a degree, you might need special training or an associate’s degree.
- Many of the highest-paying jobs are in healthcare, like doctors, nurse anesthetists, physician assistants, and nurse practitioners.
- Law, business, and engineering are also fields where having an advanced degree can lead to a well-paying job.
- On the coasts, minimum hourly pay rates are the highest.
Now, let’s look at each of the top ten careers:
Doctor
Family medicine doctors make around $235,930 each year. Specialized doctors earn even more. The number of doctors is expected to grow by 3% from 2020 to 2030.
Nurse Anesthetist
These nurses help with anesthesia during surgery and make about $195,610 per year. To become one, you need a specialized master’s degree and certification.
Dentist
Dentists earn a median salary of about $160,370 per year. With the aging population, there will likely be good job opportunities in this field.
| Career | Median Salary | Required Degree |
|---|---|---|
| Doctor | $235,930 | Doctor of Medicine (MD) or Doctor of Osteopathic Medicine (DO) |
| Nurse Anesthetist | $195,610 | Master of Science in Nurse Anesthesia (MSN) |
| Dentist | $160,370 | Doctor of Dental Surgery (DDS) or Doctor of Dental Medicine (DMD) |
| IT Manager | $159,010 | Master of Business Administration (MBA) or Master of Science in Information Technology (MSIT) |
| Pharmacist | $128,570 | Doctor of Pharmacy (PharmD) |
| Lawyer | $127,990 | Juris Doctor (JD) |
| Physician Assistant or Nurse Practitioner | $121,530 or $120,680 | Master of Physician Assistant Studies (MPAS) or Master of Nurse Practitioner (MSN) |
| Economist | $105,630 | Master of Arts in Economics (MA) or Master of Science in Economics (MS) |
| MBA | $105,000 | Master of Business Administration (MBA) |
| Engineer | $80,320 | Master of Science in Engineering (MSE) |
IT Manager
People who manage technology in companies can make around $159,010 a year. Many of these roles require a master’s degree.
Pharmacist
Pharmacists make about $128,570 a year. Becoming a pharmacist requires a Doctor of Pharmacy degree and passing a licensure exam.
Lawyer
Lawyers can earn about $127,990 a year. You need a Juris Doctor (JD) degree and must pass a bar exam to practice law.
Physician Assistant or Nurse Practitioner
Physician assistants make around $121,530, and nurse practitioners make about $120,680 each year. These roles are in demand due to a shortage of doctors.
Economist
Economists can earn about $105,630 per year. A master’s degree can open up various career paths in this field.
MBA
Graduates with a Master of Business Administration (MBA) degree start with a median salary of $105,000. The best-paying jobs are often in consulting, finance, and technology.
Engineer
Engineers with master’s degrees make an average of $80,320 per year, compared to $71,088 for those with only a bachelor’s degree.
So, if you’re considering further education, remember that post-graduate degrees can lead to higher earnings and more opportunities in various fields.
FAQs
- Why should I consider getting a post-graduate degree?
Getting a post-graduate degree, like a master’s, can significantly boost your earnings. It opens up opportunities for higher-paying jobs in various fields.
- How much more can I earn with a master’s degree?
The increase in earnings varies depending on the field, but generally, people with master’s degrees tend to earn more than those with only a bachelor’s degree. For example, in business or engineering, the difference can be quite substantial.
- Are there specific careers that benefit the most from advanced degrees?
Yes, many high-paying careers require advanced degrees. These include jobs in healthcare, like doctors and nurse practitioners, as well as fields like law, business, and engineering.
