Graph Source: Georgetown University Center on Education and the Workforce analysis of U.S. Census Bureau, American Community Survey micro data, 2009-2013, p 18.
Best Masters Degrees for Improving Your Salary
I recently ran across an excellent source of information on the difference in wages paid by graduate degree discipline. A recent study from the Center on Education and the Workforce at Georgetown University finds that, overall, graduate degree holders earn 28% more than bachelor’s degree holders.
Of course, they found that not all graduate degrees boost your income at the same rate. Here are some key facts on this point:
- Biology and life sciences majors with graduate degrees earn 63 percent more than those with Bachelor’s degrees. Biology and life sciences majors are also most likely to earn a graduate degree.
- Graduate degree holders who majored in health and medical preparatory programs earn 137 percent more than those with Bachelor’s degrees.
- Business majors’ wages vary the most. Business majors earn $43,000 annually at the 25th percentile and $98,000 annually at the 75th percentile, a difference of $55,000. Education majors’ wages vary the least.
- STEM majors not only have the highest wages, they experience the largest wage growth over the course of their careers. Business and health majors are the two non-STEM majors that lead to above-average wages.
The study points out that the economic value of majors plays a role in students’ choice of major, but students’ abilities, academic preparation, interests, and values are also important.
Consider Online Degree Options
Does this information suggest that the master’s degree in the discipline you want will pay off?
If you want to earn your master’s degree while working, getting the degree online is a great option for you. If you are unsure about getting your degree online, you should know that in a recent study with online students, 90% of those surveyed who had also taken on-ground classes said the online classroom is better or the same as their experience on campus. And, upon graduating, 72% of online students felt it was worth their time, and 69% felt it was worth the investment of their money. And fifty percent of those surveyed said that they were only able to get their master’s degree online, because they didn’t have the time to attend classes on campus.
But finding the right online master’s degree program can be a challenge. There are often many programs to choose from.
There is a better way
The Online Degree Database has all the information you need to create your short list of potential programs. Search for the degree types that are most relevant to you and download your Free Report(s).
What’s in the Free Report?
The Free Report gives you the university and degree names for the online degrees in our database that meet the criteria you select — and a live link to each program’s website. You can pick from institutions that you know. Use this Free Report to see the universe of available programs and make more informed decisions about your final shopping list of programs. Create as many Free Reports as you like!
Most students who use our database tell us that they appreciate how easy it is to use and they are glad they don’t get unwanted telephone calls and email solicitations from unknown university marketing partners. Our tool puts them back in the driver’s seat for researching their online degree options, which is
Using the Online Degree Database is the smart way to go when shopping for the right online master’s degree. It’s like using Carfax before buying your used car, or joining Angie’s List to find a reputable contractor for major home improvements!
Universities, work with the Online Degree Database directly to access unique and relevant intelligence about the online degree market. Contact Michelle at firstname.lastname@example.org for more information.