15 Highest paying degrees the world must watch

By: Taurai Masunda | Posted On: 2020-09-22 03:44:04 || Views: 13



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


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