According to a study by the Consumer News and Business Channel (CNBC) in 2021, a master鈥檚 degree can boost your earnings by .
Additionally, data from thesupports that master鈥檚 degree holders earn up to 20% higher annual salaries more than a bachelor鈥檚 graduate and 100% more than high school diploma holders.
So, if you鈥檙e considering attending graduate school, this could be your sign. A master鈥檚 degree takes about two years to complete, but it鈥檚 a worthwhile investment providing you with higher level skills and increasing your value in the eyes of employers.
Do you want to know more about the highest-paying jobs that require master鈥檚 degrees in 2024? Look no further. Here is a list of the highest paying Master鈥檚 Degrees this year:
Top 10 Highest Paying Master鈥檚 Degrees 2024 (Inc Salaries)
1. Master of Science in Nursing
A master鈥檚 degree in nursing not only increases your salary over holders of an undergraduate degree. It also gives you a wider range of career options and better chances to advance to administrative or supervisory roles.
The top-paying career paths for Master of Science Graduates include:
鈼� Nurse anesthetists
Nurse Anesthetists are a kind of registered nurse who specialize in anesthesiology or administering inhaled gasses and intravenous drugs for patients undergoing surgeries and similar procedures.
The role of anesthetists is crucial to ensure patient safety and avoid any discomfort or pain.
Average Annual Salary:
Job Outlook: by 2032
鈼� Physician Assistant
Physician Assistants (PA鈥檚) work under the supervision of a physician in diagnosing, examining, and treating patients.
Their responsibilities range from routine vaccinations to surgical care, depending on their specialty.
In some areas where doctors or physicians are only present a few days per week, physician assistants act as the primary care providers.
Average Annual Salary: per year.
Job Outlook: by 2032
鈼� Nurse practitioner
A nurse practitioner job requires an advanced degree, like a master鈥檚 or doctoral degree, and clinical training.
They play several roles from patient care, disease control and clinical work to health management.
In some cases, they also conduct research, participate in healthcare forums, and apply the latest findings to their practice.
Average Annual Salary: .
Job Outlook: by 2032
2. Master of Science in Computer Science
Computer and information technology is a flourishing industry that will likely continue to expand, so pursuing a Master of Science degree in Computer Science is one of the best decisions you can make.
This degree provides valuable knowledge and updated skills for Information and Communication Technology professionals working in data management, security systems, drive innovation, computer system networks, and software development.
The highest paying roles for Master of Science in Computer Science graduates include:
鈼� Data Architect
Data architects are responsible for designing, creating, and organizing systems to store data for organizations and businesses.
They maintain the accuracy and security of databases for use in various applications.
Average Annual Salary: .
Job Outlook: until 2032
鈼� Software Developer
A software developer creates computer or mobile applications that meet user needs and solve user problems.
This is done by developing underlying systems that control networks, perform tasks, and run devices.
Software developers study, design, test, maintain, and upgrade programs and software.
Average Annual Salary:
Job Outlook: by 2032
3. Master of Science in Finance
A master鈥檚 degree in finance not only opens doors of opportunities in various fields.
It also provides a potential for career development and growth. There are many job options and openings for finance degree holders who are essential in any industry and business venture.
If you pursue a Master of Science in Finance, these are some of the highest-paying jobs you can apply for:
鈼� Actuary
Actuaries use sophisticated software that use statistics, mathematics, and financial theory to compare and predict profitability or loss.
They use the data from these software to analyze financial risks and costs. They also help clients develop measures to minimize these costs.
Actuary positions are vital in the insurance industry and you typically require a graduate degree to qualify for this position.
Average Annual Salary:
Job Outlook: by 2032
鈼� Financial Manager
Financial managers are typically in charge of the financial health of an organization.
They assist clients in identifying and reaching their financial goals. Using financial reports, they project future growth or potential losses while also giving practical advice on investments and business ventures.
Average Annual Salary:
Job Outlook: by 2032
鈼� Financial Advisor
A financial advisor is hired by individuals, businesses, companies, or organizations to oversee and manage financial matters. These include tracking earnings, savings, insurance, investments, mortgages, taxes, and the like.
Average annual salary:
Job Outlook: by 2032
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4. Master's degree in Public Health Management
Public health is a rising concern, especially after the COVID pandemic. Professionals in this field aim to improve community health and prevent outbreaks through policy design and implementation based on research and need at least a master鈥檚 degree. A graduate degree program in public health or public health management gives you a chance to have a fulfilling career in health administration, epidemiology, and environmental health.
The highest-paying career paths for holders of a Master鈥檚 degree in Public Health include:
鈼� Epidemiologist
Epidemiologists study the causes of disease, trying to find patterns and common risk factors.
They use this information to reduce the occurrence, avoid risks, and find effective treatments for a variety of health problems and diseases.
Average Annual Salary:
Job Outlook: by 2032
鈼� Health Manager
Health managers, also called healthcare administrators or healthcare executives, are leadership positions responsible for planning, directing, and coordinating medical and health services.
They manage staff, oversee budgets, organize facility processes, and stay updated with changing healthcare laws, regulations, trends, and technology.
Average Annual Salary:
Job Outlook: by 2032
鈼� Environmental Health And Safety Manager
Environmental Health and Safety managers aim to protect people from workplace and environmental hazards while also protecting the environment from human hazards.
They gather and analyze data, as well as conduct inspections to ensure adherence of work conditions and procedures to health, safety, and environmental regulations.
Average Annual Salary:
Job Outlook: by 2032
5. Master of Science in Engineering
Some of the highest paying master鈥檚 degree positions are found in engineering disciplines. Graduates with up-to-date skills and knowledge on technological innovations and sustainable solutions are valued and expected to rise in the coming years.
The list of the top-paying career paths for Master of Science in Engineering Graduates include:
鈼� Architectural and Engineering Manager
Architectural and Engineering managers direct, coordinate, and plan activities in the field of manufacturing and construction.
They are concerned with budgets, equipment checks, quality assurance, operations protocols, and schedules.
Average Annual Salary:
Job Outlook:
鈼� Petroleum Engineer
The main job of petroleum engineers is to find and extract oil and gas deposits through methods that increase the yield and reduce the costs.
Average Annual Salary:
Job Outlook: by 2032
鈼� Chemical Engineer
By combining principles of chemistry, engineering, and physics, chemical engineers develop manufacturing processes and equipment.
They work in industries that produce paper, drugs, gasoline, food, electronics, clothing, and various chemicals.
Average Annual Salary:
Job Outlook: by 2032
鈼� Industrial Engineer
A Master of Science in Industrial Engineering program focuses on reducing waste, increasing efficiency, and maximizing resources in various production industries.
They take advantage of the available technology, skilled workers, and latest research to increase the quality of products and services without sacrificing safety or the environment.
Average Annual Salary:
Job Outlook: by 2032
6. Master鈥檚 in Data Science
In this data-driven modern world, industries rely heavily on data to improve services and products.
This is why professionals who can collect, analyze, and interpret large amounts of data are in-demand for making informed decisions, identifying patterns, predicting the direction of trends, and modification of laws.
The top-paying career path for Master鈥檚 in Data Science Graduates is a data scientist, described here:
鈼� Data Scientist
Data scientists utilize various methods, tools, and sources to obtain and analyze data.
Valuable insights from these data are organized, interpreted, and presented using visualization software, maps, charts, and other graphics. Then, findings are communicated and used to aid decision-making, policy development, and technical planning.
Average Annual Salary:
Job Outlook: , with 17,700 job openings each year.
7. Master鈥檚 Degree in Political Science
Political science is an interdisciplinary field covering sociology, psychology, law, and economics.
Although a master鈥檚 degree in political science opens doors for jobs like government positions and public affairs and administration, the best aligned is becoming a political scientist.
The highest-paying Master鈥檚 Degrees in Political Science jobs include:
鈼� State Legislator
These legislators are responsible for planning, developing, introducing, and implementing laws and statutes at the state level.
They are elected officials that come up with and pass laws or bills that advocate for their constituents.
They oversee state agencies, ensuring efficient operations and proper allocation of government funds.
Average Annual Salary:
Job Outlook: The BLS currently has no data for state legislator job outlook since the position requires being elected for it. Moreover, changing demographics and term limits can impact the demand for legislators.
鈼� Political Scientist
The bulk of a political scientist鈥檚 duties is to conduct research about political theory, political systems, international relations, comparative politics, and national politics.
Average Annual Salary:
Job Outlook: Employment of Political scientists is projected to , with about 600 openings projected each year.
鈼� Diplomat
A Diplomat, also known as a Foreign Service Officer, represents the interests of one鈥檚 country and its government in international settings.
Diplomats promote and maintain relations with other countries or international organizations.
They protect the rights of their citizens abroad, resolve conflict, and communicate economic, social, and political developments.
Average Annual Salary: .
Job Outlook: BLS categorizes diplomats under international relations professionals, the employment for which is projected to between 2022 to 2032.
8. Master鈥檚 Degree in Economics
A master鈥檚 degree in economics will equip you with advanced skills and knowledge on economic theories and principles while keeping you updated with latest market trends and conditions.
This is a valuable advantage to get higher paying positions in the field.
Here are some high-paying graduate degree jobs in economics:
鈼� Economist
Economists work for businesses, governments, or firms to provide insight on the production, consumption, and distribution of goods and services. They explore trends in employment and prices of products in various fields including healthcare and business.
They conduct research and analyze data to forecast possible developments and propose amendments to laws and regulations.
Average Annual Salary:
Job Outlook: Employment is expected to , with around 1,200 projected openings per year.
鈼� Financial Analyst
Financial analysts assess the performance of a client鈥檚 investments and evaluate opportunities for making profit.
They study how political conditions, economic trends and policies affect investments and offer guidance for individuals and businesses on where to commit their money.
Average Annual Salary:
Job Outlook: , about 27,400 openings per year
9. Master of Business Administration
After graduating from an , a master鈥檚 degree in business administration (MBA) can lead to a financially fulfilling career and supervisory positions in many industries. MBA graduates often land the positions of executives, managers, or organizational leaders.
The high-paying career paths for Master of Business Administration include:
鈼� IT Manager
An IT manager handles the team tasked to perform all computer-based work for a company or organization.
Because of this, an MBA major in technology is helpful to understand the human resources and technical side of the job.
Average Annual Salary:
Job Outlook: Employment for this position is projected to have from 2022 to 2032.
鈼� Business Operations Manager
Business operations managers possess excellent communication, leadership, and problem-solving skills to help a department or business achieve its goals.
They handle a range of responsibilities ranging from finances and project management to human resources.
Average Annual Salary: .
Job Outlook: Overall employment in management positions is foreseen to grow faster than the average for all occupations, with about from 2022 to 2032.
10. Master鈥檚 Degree in Education
The highest earning positions for graduates of Master鈥檚 degree in Education are:
鈼� Chief Academic Officer
Chief Academic officers oversee an institution鈥檚 academic programs. They ensure that students are given the optimum instructional environment and highest quality of education.
They also develop the curriculum and maintain the compliance of university standards with state and federal regulations.
Average Annual Salary:
Job Outlook: A is projected for this position from 2022 to 2032.
鈼� Academic Dean
An academic dean is a postsecondary education administrator working to ensure that the faculty and staff are able to deliver quality education and service. They help establish academic goals and assist in providing resources to achieve them. Average Annual Salary:
Job Outlook: Employment for this position is projected to have an until 2032.
Conclusion
Pursuing a master鈥檚 degree may be a strategic investment for your future, offering not only specialized expertise but also the potential for financial success with the highest salaries.
Many degrees available such as MBA, MSN, MS in Computer Science, and Master of Engineering can lead to some of the top-paying roles across various industries.
狼友社区 can help you achieve your higher education goals through distance learning and master鈥檚 degree programs offering a focused skillset.
FAQs
What is the highest paying master鈥檚 degree in 2024?
A nurse anesthetist with a master鈥檚 degree in nursing will be the highest-paying master鈥檚 degree job in 2024.
According to data from Glassdoor, Nurse Anesthetists can earn an annual pay of USD 182,000 to USD 331,000 with an average salary of around per year.
What is the best type of master's degree?
The best graduate or master鈥檚 degree to get depends on your career goals, interests, and the industry you prefer to work in.
However, in general, the top 8 highest-paying master鈥檚 degrees include:
MS in Nursing,
MS in Computer Science,
MS in Finance,
Master鈥檚 in Public Health,
MS in Engineering,
Master鈥檚 in Data Science,
Master鈥檚 Degree in Political Science,
Master鈥檚 Degree in Economics.
The other two are an MBA and a Master鈥檚 Degree in Education.
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Which masters degree is best for the future?
The best master鈥檚 degrees for the future are Master of Science in Nursing degrees.
This master鈥檚 degree is worth pursuing because it can provide opportunities for some of the highest paid master鈥檚 positions.
The BLS also projects that the employment for such positions will have a .
What skills can I learn from a masters degree?
You can learn a variety of both hard skills and soft skills from a master鈥檚 program.
Hard skills include advanced research skills, deeper specialized knowledge in your fields, project management skills, and analytical skills.
You can also gain soft skills such as communication skills, leadership skills, networking, independence, collaboration, organization, and time management skills.
If you're ready to discover the skills you need to stay on top of your career, Download Our Free Report now.
Is a masters degree required to get the highest paying jobs?
Not all highest-paying jobs need a master鈥檚 degree.
However, earning a master鈥檚 degree can lead to improved employability and earning potential in many industries and fields. A master鈥檚 degree can even give you the opportunity to land higher-level positions.
Why is it beneficial to gain a masters degree?
Aside from an increase in expertise, the value of a master鈥檚 degree also increases your salary by a large sum.
For example, CNBC found that a master鈥檚 in business administration qualifies for 51% more in average starting salary than bachelor鈥檚 degree holders.
The good news is you can take an online MBA program through 狼友社区.
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