Masters Degree Salary

Masters Degree Salary

According to the Bureau of Labor Statistics (part of the US Department of Labor) from September 2012 to September 2013, employment increased in nearly 286 of the 334 largest U.S. counties*.  This is established in the report issued on March 29, 2014.  The U.S. average weekly wage also had an increase of 1.9% up to an average $922 in the third quarter of 2013*.  The highest salary increase was reported in the county of San Mateo, California, which had a gain of 9.9%. 

Generally, with more expertise comes greater compensation at someone´s job.  With an economy that seems to be rising in work spots and salaries, it is important to stay not only afloat but on the edge of innovation and production. A Master´s degree offers not only specialization on what one is passionate about, but it also improves personal economic situation.  This is just one of the reasons as to why get a master´s degree.  There are other reasons as well, besides salary, why one should get a Master´s degree:

  • It can help you advance in your career and turn you from being a student to a researcher
  • According to the Bureau of Labor Statistic, employments that typically require a postgraduate degree will increase by 18% from 2008 to 2018.
  • It allows a better contribution to society in many ways, including health, quality of life, higher participation in civic activities, etc.
  • It also allows you to change careers.
  • Opens doors to a doctoral program.

One important thing to point out, however, is that depending on the field of specialization, to some companies, a Master´s degree will not make a difference for a Bachelor student if skills are not shown.  This is especially true for the experience too.  One common place for this is Computer Sciences, where employers value skills over degree holding.  However Computer Science still ranks as one of the best Master’s degree career to pursue as it provides a median pay of $114,000 and has an employment increase projection of 21.3%*.

A Master´s Degree Salary will depend on several factors that include the career stage, the quality of the program, the prestige of the graduate school*, and academic range, among many other factors.

According to the Forbes list of “The Best and Worst Master´s Degrees For Jobs Right Now”*, based on the Bureau of Labor Statistics´ employment projection from 2010 to 2020 and career salaries based on data provided by Payscale.com, these are some of the best paid master´s degrees jobs:

  • Information systems rank as number 1 with a median pay of $101,000 with a projected increase of 30%.  The high demand for IT services and a relatively low supply provide for these workers to generate better income.
  • Physics is at #2 with a median salary of $117,000 and employment opportunities are projected to increase by 22%. 
  • Due to shortage of medical doctors in the US, people who get a degree in physician assistant studies are in high demand and therefore are getting ranked #3 with a median salary of $98,800. 

The list includes other careers such as electrical and civil engineering, occupational therapy, public health, nursing, and finance as the best master´s degree choices for careers. 

 

Are you ready to pursue your bachelor degree? Get information on programs in your area and online using our bachelor degree finder at the top of this page. ↑

 

For more information, read on at the links cited below.

http://www.bls.gov/news.release/pdf/cewqtr.pdf

http://www.forbes.com/sites/jacquelynsmith/2013/06/07/the-best-and-worst-masters-degrees-for-jobs-right-now/

http://www.kent.edu/graduatestudies/prospectivestudents/upload/cgs-why-should-i-get-a-master-s-degree.pdf

http://www.independent.co.uk/student/postgraduate/postgraduate-study/does-a-masters-degree-make-you-any-more-employable-9088946.html

http://www.bls.gov/opub/mlr/2009/11/art5full.pdf