15 Highest paying degrees the world must watch

22/09/2020 8:44 AM

An academic degree is a qualification awarded to students after satisfactory completion of a course of study in higher education, typically at a college or university. The bachelor's degree is the most popular undergraduate degree, although in some countries there are lower-level higher education qualifications that are also titled degrees (e.g. associate degrees and foundation degrees).



 



There are four major categories of degrees available for postsecondary students: associate, bachelor's, master's, and doctoral degrees.



 
































Degree Level



Average Completion Time (full-time)



Common Prerequisite



Associate degree



2 years



High school diploma or equivalent



Bachelor's degree



4 years



High school diploma or equivalent



Master's degree



1-2 years



Bachelor's degree



Doctoral degree



2+ years



Master's degree (sometimes bachelor's degree is acceptable)




Schooling Degree Levels Available



 



What we major at academic institutions has effects that stretch well beyond the base of knowledge that we establish in our early years. Any program in which we want to join often provides a path for meeting future friends, job prospects, and connections.



 



Furthermore, particularly in the first decade after graduation, the college degree you select will partially determine your future earning potential. It can also set you up for long-term financial success if careers in your profession are in high demand. Highest paying degrees are important as they give financial freedom.



 



Based on PayScale’s year-long survey of 1.2 million users that graduated only with a bachelor degree in the United States, the majors that saw the highest median mid-career salaries were all along the engineering spectrum: chemical engineering, computer engineering, electrical


engineering, and aerospace engineering all came in above $100,000. They also generally had very high starting salaries. The data can be assessed with the link: https://www.kaggle.com/wsj/college-salaries/home



 



Here are the 15 highest paying degrees from the data set, sorted by mid-career median salary (10 years in):























































































































Rank



Undergraduate Major



Starting Median



Mid-Career Median



% Change



#1



Chemical Engineering



$63,200



$107,000



69.30%



#2



Computer Engineering



$61,400



$105,000



71.00%



#3



Electrical Engineering



$60,900



$103,000



69.10%



#4



Aerospace Engineering



$57,700



$101,000



75.00%



#5



Economics



$50,100



$98,600



96.80%



#6



Physics



$50,300



$97,300



93.40%



#7



Computer Science



$55,900



$95,500



70.80%



#8



Industrial Engineering



$57,700



$94,700



64.10%



#9



Mechanical Engineering



$57,900



$93,600



61.70%



#10



Math



$45,400



$92,400



103.50%



#11



Physician Assistant



$74,300



$91,700



23.40%



#12



Civil Engineering



$53,900



$90,500



67.90%



#13



Construction



$53,700



$88,900



65.50%



#14



Finance



$47,900



$88,300



84.30%



#15



Management Information Systems (MIS)



$49,200



$82,300



67.30%




 



The starting median salary is the median of what people were earning after they graduated with their degree and the mid-career median is the median salary 10 years in.



 



The top-earning specialization out of college is for Physician Assistants, with a median starting salary of $74,300. However, the earning potential of the degree levels out quickly, with a 23.4% increase in earning power 10 years in. In contrast, the biggest increases in earning power go to Math, Philosophy, Economics, Marketing, Physics, Political Science, and International Relations majors. All these degrees see a 90% or higher increase from the median starting salary to the median mid-career salary.



 



It is important to also note that a master’s degree may provide you with better job prospects, more career responsibilities and a higher salary. You might need one to advance past a certain point in your career, particularly if your goal is a senior leadership position. Many master’s degrees can earn you jobs with high salaries, but the following are some of the highest paying master degrees Indeed.com “Highest Paying Master's Degrees, 2020”:



 







































































Master’s degrees major



National average salary



Nursing anesthesia



$176,386



Information technology



$121,769



Business administration



$114,083



Finance



$108,518



Software engineering



$107,366



Nursing



$107,076



Electrical engineering



$104,119



Statistics



$104,009



Physicians assistant



$103,648



Economics



$94,319



Chemical engineering



$93,453



Physics



$91,080



Petroleum engineering



$82,330



Computer science



$81,680



Industrial management



$80,200




 



 



Last but not least, it is also important to note that dozens of business and related jobs earn more than double the median annual salaries for all occupations. According to DegreeQuery “15 top degrees for the highest-paying business careers, 2020” Master of Business Administration ranks number 1 highest paying degree in business.



 



 



Taurai Masunda is a Business Analytics Consultant at Industrial Psychology Consultants (Pvt) Ltd a management and human resources consulting firm. https://www.linkedin.com/in/taurai-masunda-b3726110b/ Phone +263 4 481946-48/481950/2900276/2900966 or email: taurai@ipcconsultants.com  or visit our website at www.ipcconsultants.com


Taurai Masunda
Guest
This article was written by Taurai a Guest at Industrial Psychology Consultants (Pvt) Ltd

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