10 Highest Paying Graduate Degrees

Our list of the most lucrative careers associated with graduate study is necessarily a general list that in many cases focuses on degrees with jobs in multiple industries.  In many cases the highest paying jobs are found in specific business niches which we have tried to identify here.  It is also true that in many cases, a master’s degree will earn you a handsome living and a PhD in the same academic discipline will do even better, especially when you are working outside the academic arena.  But many PhD programs require an additional 4-6 years of full time education, a commitment that may be a good financial investment in some cases and not so important in others.  We have purposely excluded esoteric and lucrative career options such as petroleum engineering for which there are very few job opportunities.  Our salary information is taken from the U.S. Department of Labor and Payscale.com.

1.      Aerospace Engineering:  Because so much of the work in this field involves research and development for aircraft design, a graduate degree is essential for career advancement.  Entry level positions are available with a bachelor’s degree but the majority of work done by aerospace engineers requires graduate level science.  The median salary for this profession is $94,780.

2.      Biomedical Engineering:  This career involves the development of new medical technology both for treatment purposes and for diagnostics.  Medical equipment has become highly technical, involving the use of computer chips at every level from the simplest blood pressure check to sophisticated MRI or Ultrasound scans.  Research in this field requires a master’s degree; product development often requires a PhD.  The salary range for a management position in this field is $95,702 – $149,752.

3.      Business Administration It’s difficult to establish a salary range for MBA graduates because the career options are virtually endless.  Graduates from top tier schools who land in an investment firm or a consulting firm often have an entry level salary that reaches six figures.  Other MBA grads have trouble finding initial jobs that meet their expectations.  The median salary for a financial analyst is $73.893.  For a marketing director the average pay is $109,591.  For a project manager in the IT sector the median annual salary is $91,518. See MBA degree programs & schools.

4.      Chemical Engineering: These positions can be in a number of industries, but for a professional with a graduate degree often the most lucrative opportunities are in biotechnology, specifically in pharmaceutical development.  There is a tremendous amount of research that goes on in biotech which requires careful documentation of complex chemical processes.  The median salary for a chemical engineer in research and development is $93,200; for a senior chemical engineer providing supervisorial services the median salary is $116,349.

5.      Computer Science: This degree is the gold standard for IT academics.  A master’s in computer science often leads to a product development role with a technology products firm.  Computer science is generally more focused on theory and methodology than computer engineering or software engineering.  The median salary for computer scientists engaged in R&D is $92,063.  View Computer Science Master’s schools

6.      Electronics Engineering: This profession creeps a little closer to computer engineering every year.  There are few electronics devices that don’t function without a chip anymore.  Many electronics engineering degrees come out of a university computer science department today and are excellent preparation for work in the computer engineering field.  The median salary for an electronics design engineer is $96,750.  For an electronics engineer with management responsibility the median salary is $92,300.

7.      Finance: A masters’ in finance differs from a MBA in finance because of the singular focus on accounting management and on the strategic role that financial analysis plays in a business environment.  Finance graduates are generally headed for work in a corporate environment or in some cases, in investment services.  The median salary for a chartered financial analyst is $91,700.  For a financial controller the median pay is $79,350. See Finance MBA degree programs & schools.

8.      Information Systems: A graduate degree in this field leads to a potential career in network design, system design, and several analytical or development roles in information technology consulting.  In many cases the consulting industry has the most lucrative opportunities, but IT has become so essential in business operations that many firms have senior information systems experts in-house today.  A business analyst for IT and software earns a median salary of $81,300.  The information assurance manager position has a median salary of $83,200.

9.      Medical Doctor: The amount of education required for a M.D. credential can include six years or more of graduate work.  Physicians today are also increasingly restive about the control over their pay that is exercised by insurance companies and Medicare bureaucrats.  However the pay range is still extremely rewarding.  The median salary for a family practitioner is $160,530.   For a pediatrician the median salary is $152,400 and for a surgeon the mean annual wage is $219,770.

10.  Nurse Anesthetist: This is the most lucrative of the specialization options for a Master of Science in Nursing (MSN) degree.  It also requires the most training and longest practicum, but the investment in time is worthwhile.  Nurse anesthetists are replacing anesthesiologists with a medical degree in many surgical suites in the United States.  The median salary for a nurse anesthetist is $123,500.

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