Salaries and Career Path

A master’s degree can guarantee you higher wages in most cases. You likely to need a master’s degree to qualify for entry-level jobs in some occupations while others do not require it.

In some field some fields you will earn more with a master’s degree especially in:

  • Business
  • Education
  • Healthcare and social service
  • STEM

Business Fields

Master’s degrees are awarded in business more than any other field. Among all occupations business, financial, and sales occupations had the highest wages for workers with a master’s degree. The biggest pay was given to securities, commodities, and financial services sales agents. Workers who had a master’s degree got a pay that is nearly 90 percent higher than that for workers with a bachelor’s degree. An MBA was a ticket for higher pay in high-level jobs.

Education

One out of every five master’s degrees is awarded in the education field with a payoff that is relatively high. Education administrators have the highest salary with 44% higher wages for master’s degree holders.

Healthcare and Social Service fields

Master’s degrees are commonly given to fields in healthcare and social service. There is an increase in wages after obtaining a master’s degree. Physician assistants, for example, have wages that were 44 percent higher than that of workers with a bachelor’s degree

STEM Fields

Workers in the STEM field particularly Mathematicians, statisticians, and workers in other math-related occupations had a 33 percent higher wage with a master’s degree than did those with a bachelor’s degree. There is also a wage premium for master’s degree holders in Computer systems analysis and computer programming.