Highest-Paying Master’s Degrees
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Data Summary
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Computer and information science was the highest-paying master's degree discipline in 2021. Graduates made a median starting salary of over $102,780.[1] -
Highest-paid specialties for master's graduates included: electromechanical engineering, computer engineering, computer science, data science, physics, law, and allied health.Note Reference [1] -
The average starting salary for all master's degree graduates in 2021 was about $72,110.Note Reference [1] -
Among all occupations that require master's degrees, nurse anesthetists earn the most, with a median salary of $195,610 in 2021.[2] -
Master's-level nursing and computer science jobs have the highest projected employment growth rate from 2022-2032.Note Reference [2]
As of 2021, the average annual household income for master's degree holders was approximately $161,000, or $63,400 per individual.[3] During the same period, the average annual household income for bachelor's degree holders was around $22,000 less.
While higher educational attainment typically pays off, not all master's degrees are created equal. In fact, some graduates of master's programs end up with significant debt and insufficient income.
Discover the highest-paying master's degrees by field in this report.
Best Master's Degrees by Starting Salary
The National Association of Colleges and Employers (NACE) surveyed over 140,000 master's degree graduates in 2021.Note Reference [1] They found:
- The highest-paid master's discipline was computer and information sciences.
- Engineering, transportation, engineering technologies, and business management rounded out the top five.
- The average starting salary for those graduating with master's degrees in 2021 was $72,105.
- Bachelor's degree graduates earned a lower starting salary on average — $58,860 — and doctoral degree graduates earned more — $83,260.
Rank | Master's Degree Discipline | Average Starting Salary |
---|---|---|
1 | Computer and Information Sciences | $102,780 |
2 | Engineering | $92,890 |
3 | Transportation and Materials Moving | $85,870 |
4 | Engineering Technologies and Related Fields | $84,290 |
5 | Business Management, Marketing, and Related Services | $78,550 |
6 | Mathematics and Statistics | $78,370 |
7 | Physical Sciences | $75,410 |
8 | Legal Professions and Studies | $74,420 |
9 | Health Professions and Related Programs | $72,140 |
10 | Social Sciences | $64,990 |
11 | Foreign Languages, Literatures, and Linguistics | $64,390 |
12 | Liberal Arts and Sciences, General Studies, Humanities | $64,290 |
13 | Philosophy and Religious Studies | $63,590 |
14 | Homeland Security, Law Enforcement, Firefighting, and Related Services | $63,200 |
15 | History | $60,560 |
16 | Natural Resources and Conservation | $60,090 |
17 | Architecture and Related Services | $59,640 |
18 | Biological and Biomedical Sciences | $59,250 |
19 | Area, Ethnic, Cultural, and Gender Studies | $57,910 |
20 | Multi/Interdisciplinary Studies | $57,400 |
21 | Agriculture and Related Sciences | $56,720 |
22 | Psychology | $56,620 |
23 | Communications and Journalism | $56,437 |
24 | English Language and Literature/Letters | $54,800 |
25 | Public Administration and Social Services | $54,770 |
26 | Visual and Performing Arts | $54,530 |
27 | Family and Consumer Sciences and Human Sciences | $51,390 |
28 | Education | $50,630 |
29 | Theology and Religious Vocations | $47,980 |
30 | Library Science | $46,630 |
31 | Parks, Recreation, Leisure, and Fitness Studies | $43,010 |
Get to Know the Top 10 Highest-Paying Master's Degrees
For each of the highest-paying master's degrees, there's some variability in how much graduates earn. That difference depends on someone's specialization and on their ultimate career path.
Find detailed salary breakdowns within the highest-paying master's degrees below. Plus, find the rate of new graduates in each field who were employed within six months after graduation and the projected employment growth rate for relevant industries.
(For reference, the Bureau of Labor Statistics (BLS) projects all occupations to grow by about 3% between 2022 and 2032.Note Reference [2])
Computer and Information Sciences and Support Services
Overall, those who earned a master's degree in computer science earned the highest starting salaries compared to graduates in other disciplines.
Additionally, professionals in this field earn higher than average salaries, and some jobs are projected to grow faster than average.
Post-Graduation Outcomes by Major or Specialization
Computer Science
- Average Starting Salary: $111,170
- Percentage Employed: 81.6%
Computer Software and Media Applications
- Average Starting Salary: $88,990
- Percentage Employed: 79.2%
Information Science/Studies
- Average Starting Salary: $66,580
- Percentage Employed: 87.1%
High-Paying Jobs for Computer Science Master's Degrees
Computer and Information Research Scientist
- Median Salary: $136,620
- Projected Employment Growth (2022-2032): 23%
Computer Programmers
- Median Salary: $97,800
- Projected Employment Growth (2022-2032): -11%
Software Developers, Quality Assurance Analysts, Testers
- Median Salary: $124,200
- Projected Employment Growth (2022-2032): 25%
Did You Know...
You might not need a master's degree for a high-paying job in computer science.
According to the BLS, you can typically become a computer programmer or software developer by having a bachelor's degree and knowing a programming language.
Featured Master's in Computer & Information Sciences Programs
Engineering
There are several types of engineering, and most of these specialties can result in high earnings for graduates with master's degrees. Long after graduation, engineering careers like petroleum engineering and aerospace engineering tend to pay off in six-figure salaries.
Post-Graduation Outcomes by Major or Specialization
Computer Engineering
- Average Starting Salary: $113,710
- Percentage Employed: 81.9%
Electrical and Communications Engineering
- Average Starting Salary: $97,810
- Percentage Employed: 68.6%
Mechanical Engineering
- Average Starting Salary: $83,370
- Percentage Employed: 72%
Chemical Engineering
- Average Starting Salary: $70,670
- Percentage Employed: 58.3%
Civil Engineering
- Average Starting Salary: $70,700
- Percentage Employed: 71.8%
High-Paying Jobs for Engineering Master's Degrees
Petroleum Engineers
- Median Salary: $131,800
- Projected Employment Growth (2022-2032): 2%
Computer Hardware Engineers
- Median Salary: $132,360
- Projected Employment Growth (2022-2032): 5%
Aerospace Engineers
- Median Salary: $126,880
- Projected Employment Growth (2022-2032): 6%
Featured Master's in Engineering Programs
Transportation and Materials Moving
Most of the transportation and materials moving master's graduates NACE surveyed specifically studied air transportation. These programs focus on the planning and management of air transportation systems. Graduates might end up working for airlines or the government.
While employment for these master's degree graduates may appear low, another 27% aren't working because they're continuing their education.
Post-Graduation Outcomes by Major or Specialization
Air Transportation
- Average Starting Salary: $85,870
- Percentage Employed: 54.2%
High-Paying Jobs for Transportation Master's Degrees
Aviation/Aerospace Program Manager
- Average Salary (September 2023): $120,240
- Projected Employment Growth in Industry (2022-2032): 6%
Engineering Technologies and Related Fields
Engineering technology master's students learn how to solve technical problems in manufacturing, electrical processes, and communication networks. These programs may help prepare students to become research and development engineers.
Post-Graduation Outcomes by Major or Specialization
Electromechanical Instrumentation and Maintenance Technologies
- Average Starting Salary: $122,930
- Percentage Employed: 80%
Other Engineering Related Fields
- Average Starting Salary: $79,330
- Percentage Employed: 82.7%
High-Paying Jobs for Engineering Technologies Master's Degrees
Senior Research and Development Engineer
- Average Salary (September 2023) Salary: $110,480
- Projected Employment Growth in Industry (2022-2032): 4%
Senior Project Engineer
- Average Salary (September 2023) Salary: $98,270
- Projected Employment Growth in Industry (2022-2032): 4%
Business, Management, Marketing, and Related Support Services
There are many business master's programs outside of the popular MBA degree. And many of them pay off with high earnings for recent graduates.
Check out our tips for deciding between an MBA vs. a master's in business.
Post-Graduation Outcomes by Major or Specialization
International Business
- Average Starting Salary: $95,930
- Percentage Employed: 79.1%
Real Estate
- Average Starting Salary: $94,090
- Percentage Employed: 97%
Business Administration, Management, and Operations
- Average Starting Salary: $84,700
- Percentage Employed: 84.9%
Finance and Financial Management Services
- Average Starting Salary: $72,020
- Percentage Employed: 78.2%
Accounting
- Average Starting Salary: $58,700
- Percentage Employed: 89.2%
Marketing
- Average Starting Salary: $58,610
- Percentage Employed: 74.4%
High-Paying Jobs for Business Master's Degrees
Financial Analysts
- Median Salary: $96,220
- Projected Employment Growth (2022-2032): 8%
Project Management Specialists
- Median Salary: $95,370
- Projected Employment Growth (2022-2032): 6%
Top Executives (e.g., CEOs)
- Median Salary: $100,090
- Projected Employment Growth (2022-2032): 3%
Featured Master's in Business Administration Programs
Mathematics and Statistics
Master's degrees in mathematics and statistics — especially applied statistics — can earn graduates top dollar.
While at first glance, graduates with master's in mathematics make less money and are less likely to be employed than their statistics counterparts, note that many of them are still in school. Nearly half of mathematics students at the master's level (47.2%) are continuing their education beyond their master's degrees.
Post-Graduation Outcomes by Major or Specialization
Applied Statistics
- Average Starting Salary: $91,370
- Percentage Employed: 73.6%
Statistics
- Average Starting Salary: $89,640
- Percentage Employed: 71.1%
Applied Mathematics
- Average Starting Salary: $73,780
- Percentage Employed: 80.6%
Mathematics
- Average Starting Salary: $58,590
- Percentage Employed: 38.9%
High-Paying Jobs for Mathematics Master's Degrees
Mathematicians
- Median Salary: $112,110
- Projected Employment Growth in Industry (2022-2032): 2%
Statisticians
- Median Salary: $98,920
- Projected Employment Growth in Industry (2022-2032): 32%
Featured Master's in Applied Mathematics & Data Science Programs
Physical Sciences
Graduates with master's degrees in physics earned higher-than-average salaries after graduation.
That said, it's worth noting that many physical sciences students don't stop at their master's degrees. One-third of graduates in this discipline (33.5%) are continuing their education.
Post-Graduation Outcomes by Major or Specialization
Physics
- Average Starting Salary: $107,920
- Percentage Employed: 47.1%
Chemistry
- Average Starting Salary: $60,040
- Percentage Employed: 41.9%
Geological and Earth Sciences
- Average Starting Salary: $59,720
- Percentage Employed: 69.9%
High-Paying Jobs for Physical Sciences Master's Degrees
Physicists
- Median Salary: $142,850
- Projected Employment Growth (2022-2032): 5%
Physical Scientists
- Median Salary: $83,760
- Projected Employment Growth (2022-2032): 5%
Geoscientists
- Median Salary: $87,480
- Projected Employment Growth (2022-2032): 5%
Legal Professions and Studies
A master's degree in law is different from a juris doctorate (JD) — the common pathway to practicing law as an attorney.
Graduates with a master's degree in law might work in positions helping employers navigate contracts or maintain legal compliance, for example, in a human resources or compliance department.
Post-Graduation Outcomes by Major or Specialization
Law
- Average Starting Salary: $102,970
- Percentage Employed: 57.9%
Legal Research and Advanced Professional Studies
- Average Starting Salary: $76,420
- Percentage Employed: 65.6%
Legal Professions and Studies, Other
- Average Starting Salary: $49,700
- Percentage Employed: 61.1%
High-Paying Jobs for Legal Professions Master's Degrees
Compliance Director
- Average Salary (September 2023): $109,380
- Projected Employment Growth in Industry (2022-2032): 6%
Contract Negotiator
- Average Salary (September 2023): $79,530
- Projected Employment Growth in Industry (2022-2032): 6%
Featured Master's in Legal Studies Programs
Health Professions and Related Programs
Salaries for students in the health professions field vary widely. We find some lower salaries among dieticians and mental health service providers. However, nursing students graduate with higher-than-average salaries. Plus, nursing careers are set up for explosive growth.
Top earners in this field are master's graduates in allied health, which includes physician assistants, respiratory therapists, and others who study medical therapies and diagnostics.[4]
Post-Graduation Outcomes by Major or Specialization
Allied Health Diagnostic, Intervention, and Treatment Professions
- Average Starting Salary: $100,740
- Percentage Employed: 84.4%
Nursing
- Average Starting Salary: $85,880
- Percentage Employed: 83.6%
Pharmacy, Pharmaceutical Sciences, and Administration
- Average Starting Salary: $69,420
- Percentage Employed: 75.6%
Public Health
- Average Starting Salary: $60,230
- Percentage Employed: 73.1%
Dietetics and Clinical Nutrition Services
- Average Starting Salary: $47,040
- Percentage Employed: 70.6%
Mental Health Services
- Average Starting Salary: $46,330
- Percentage Employed: 68.4%
High-Paying Jobs for Health Professions Master's Degrees
Nurse Anesthetists, Nurse Midwives, and Nurse Practitioners
- Median Salary: $125,900
- Projected Employment Growth (2022-2032): 38%
Physician Assistants
- Median Salary: $126,010
- Projected Employment Growth (2022-2032): 27%
Occupational Therapists
- Median Salary: $93,180
- Projected Employment Growth (2022-2032): 12%
Featured Master's in Nursing & Healthcare Programs
Social Sciences
The social sciences include anthropology, sociology, political science, and more fields that focus on how societies work.
Master's grads in the social sciences may go on to work in jobs researching human interactions and patterns in societies to inform policy and decision-making.
Post-Graduation Outcomes by Major or Specialization
International Relations and National Security Studies
- Average Starting Salary: $71,560
- Percentage Employed: 65.6%
Economics
- Average Starting Salary: $67,330
- Percentage Employed: 58.6%
Political Science
- Average Starting Salary: $56,330
- Percentage Employed: 64.3%
Sociology
- Average Starting Salary: $51,420
- Percentage Employed: 61.5%
High-Paying Jobs for Social Sciences Master's Degrees
Economist
- Median Salary: $113,940
- Projected Employment Growth (2022-2032): 6%
Social Scientists
- Median Salary: $84,000
- Projected Employment Growth (2022-2032): 5%
Urban and Regional Planner
- Median Salary: $79,540
- Projected Employment Growth (2022-2032): 4%
Featured Master's in Social Science Programs
Behind the Numbers
We drew from several sources to inform the figures in this data report.
- Average starting salaries for master's graduates came from NACE and pertain to graduates from the class of 2021.Note Reference [1]
- Median salaries and projected employment growth for occupations came from the 2022 BLS Occupational Outlook handbook.Note Reference [2]
- In the absence of available salary data from the BLS, we reported on average salary data as of September 2023 from Payscale.com.
- We rounded all salary figures to the nearest ten dollars.
Highest-Paid Master's Degrees Outside of STEM
It's no surprise that computer science and engineering top the list of the highest-paying master's degrees. But what about fields outside of science, technology, engineering, and mathematics (STEM)?
- Master's in legal and business-related fields top the list of highest-paying non-STEM degrees.
- While most visual and performing arts students made median salaries closer to $50,000 or less as of 2021, design and applied arts made an impressive average starting salary of $68,552.Note Reference [1]
Master's Degree Major or Speciality | Average Starting Salary |
---|---|
Law | $102,970 |
International Business | $95,930 |
Real Estate | $94,090 |
Insurance | $92,090 |
Business Administration | $84,700 |
Entrepreneurial and Small Business Operations | $84,110 |
Construction Management | $83,150 |
Multi-/Interdisciplinary Studies (General) | $78,200 |
Linguistic, Comparative, and Related Language Studies | $74,750 |
Public Policy Analysis | $73,350 |
International Relations and National Security Studies | $71,560 |
Urban Studies/Affairs | $70,370 |
Research and Experimental Psychology | $69,560 |
Homeland Security | $69,500 |
Design and Applied Arts | $68,550 |
Economics | $67,330 |
Public Administration | $65,710 |
Philosophy | $65,670 |
Liberal Arts and Sciences, General Studies, and Humanities | $65,290 |
Highest-Paying Master's Degrees by Career
According to the BLS, nurse anesthetists were the highest-paid professionals who must possess a master's degree in 2021. The median annual salary for folks in this role was $195,610.Note Reference [2]
- Several other nursing occupations, including nurse practitioners and midwives, earned over six figures.
- The BLS also projected faster-than-average job growth for health-related occupations in the coming year.
- Nurse practitioners had the highest projected job growth with an expected 50,000 or more projected job openings.
- STEM-related workers, including those in computer research, science, and math, all made a median of well over six figures as of 2022, ranging from $105,630-$131,490.
Occupation | Median Salary |
---|---|
Nurse Anesthetists | $203,090 |
Industrial-Organizational Psychologists | $139,280 |
Computer and Information Research Scientists | $136,620 |
Political Scientists | $128,020 |
Physician Assistants | $126,010 |
Nurse Practitioners | $121,610 |
Nurse Midwives | $120,880 |
Economists | $113,940 |
Mathematicians | $112,110 |
Elementary, Middle, and High School Principals | $101,320 |
Postsecondary Education Administrators | $99,940 |
Statisticians | $98,920 |
Sociologist | $98,590 |
Occupational Therapists | $93,180 |
Genetic Counselor | $89,990 |
Clinical and Counseling Psychologists | $85,330 |
Other Factors to Consider Apart From Salary
While potential earnings are important to consider before pursuing a master's, taking into account other factors, such as the ones noted below, may also be worthwhile.
Salary Range
While the median salary can be useful in considering potential earnings, it is just one metric. Salary ranges for certain professions are extremely wide.
For example, the median annual wage for sociologists was $98,590 in 2022. However, the bottom 10% made less than $57,490, and the top 10% earned more than $166,040.Note Reference [2] This is a salary range of over $108,000.
Employability
Some high-paying jobs have very few openings. For example, industrial-organizational psychologists make higher median wages than clinical and counseling psychologists — by over $20,000 a year. However, there are about 10,000 industrial-organizational psychologists in the country, versus more than 67,000 clinical and counseling psychologists.Note Reference [2]