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Are you looking for an education path that leads to a big paycheck? Knowledge is power and education is worth investing in. With the right degree, you can unlock plenty of desirable job opportunities with better than average salaries.
Accruing the right credentials can significantly increase your earning potential and open doors for career growth. Whether you're a recent college graduate or considering a mid-career switch, a specialized degree can make all the difference in what jobs you land and how much money you make. But which degree should you get?
Not all degrees are created equal when it comes to boosting your salary. In this article, we'll share some of the highest paying degrees that are worth considering if you want to make a hefty income.
Technical Degrees: Engineering, Computer Science, and Healthcare
If you're looking for a high-wage career, there are several areas of study that will guarantee you the salary you seek. Technical degrees are among the most sought after positions, with employers willing to pay a premium for employees with the skills and knowledge in these areas.
For starters, engineering degrees are some of the highest paying fields in the US. Jobs like civil, electrical and mechanical engineering typically come with great benefits and a hefty salary. Similarly, computer science is also sought after by employers. Technology companies from tech giants to startups are always looking for individuals who can write code and create innovative solutions to everyday problems.
Finally, healthcare is an ever-growing industry where those who specialize in certain areas can earn more than other professions. For example, surgeons have some of the highest earning potentials in healthcare due to their specialized training and ability to handle intricate procedures. It goes without saying that these fields aren't easily attainable but they offer lucrative job opportunities that are well worth the effort if you're able to obtain one.
Business Degrees: Finance, Accounting, and Management
If you're looking for a financially secure future, a business degree should be a part of your plan. Degrees in finance, accounting, or management can lead to high-paying jobs in any industry.
When it comes to finance and accounting degrees, students learn the principles of economics and financial systems. They gain an understanding of capital markets and investments as well as the ability to analyze financial statements and manage corporate resources effectively. A finance or accounting degree is an excellent way to prepare for a career as a corporate accountant, controller, financial analyst, or similar role in the business world.
For those who are more interested in managing people rather than finances, there’s always management degrees. In the program, you’ll gain knowledge on organizational behavior, human resource management, change process dynamics and other business fundamentals. Management majors learn the ins and outs of how organizations are created and run knowledge that's highly sought after by employers. Graduates from this degree often find positions in leadership roles such as directors of operations and executives at both large corporations and smaller businesses alike.
Hard Science Degrees: Mathematics, Statistics, Physics and Chemistry
Are you looking for a degree that's going to give you a well-paying job? Then check out the hard sciences—math, stats, physics and chemistry, for example. According to the US Bureau of Labor Statistics, the median annual salary for those with these degrees is over $40,000 and that's not even counting bonuses and other perks.
So why are these degrees so lucrative?
Employers want graduates with transferable skills
When you study math, stats, physics or chemistry or any combination of them you get a set of skills that can be applied across many industries. And employers know this; they're willing to pay more for those who have them.
Your degree shows your technical knowledge
A hard science degree demonstrates that you have strong technical knowledge and are proficient in problem solving, analytical thinking and research methods. This is invaluable when it comes to finding success in certain roles and fields where this type of knowledge is essential.
Many industries are hungry for STEM workers
The demand for STEM-educated employees will only continue to grow as we move further into the 21st century. So if you want to join a field or embark on a career where your hard science degree will be incredibly valuable, then this route could be the best option for you!
Healthcare Degrees: Nursing, Pharmacy, Physician Assistant
Did you know that healthcare degrees are some of the highest paying degrees you can get? Nursing, pharmacy and physician assistant degrees can provide you with a great salary and job security.
Nursing is one of the fastest-growing jobs in the U.S., and it’s also one of the highest paying. According to US News, nurses make an average of $70,000 a year, with some making up to $110,000 depending on experience and industry. Plus, it is projected that there will be over a million new nursing jobs added in the next few years due to an aging population and increased demand for healthcare services.
Becoming a pharmacist opens up even more possibilities. With reported salaries ranging from $103,881 to $129,568 annually, this degree offers both stability and flexibility in the workplace. Depending on your educational background and job title, you can work as research pharmacists for pharmaceutical companies or as hospital clinical pharmacists for health systems.
Finally, physician assistants offer their services in many different fields including primary care, pediatrics or surgery. According to PayScale, most physician assistants make an average salary of around $95k per year with some making up to $125k annually making this an attractive option for those interested in medical careers that don’t involve medical school or long residency programs.
No matter which path you choose within these healthcare career fields nursing, pharmacy or physician assistant you are sure to see a high return on your investment when it comes to salary!
Law Degrees: Becoming a Lawyer, Paralegal or Legal Assistant
Law degrees are a great way to guarantee a high salary. If you're wondering what kind of careers you can use a law degree for, here are some of the most popular:
Becoming a Lawyer
Working as a lawyer is the most common route for those with a law degree. With this career, you'll be consulting with clients, researching laws, interpreting statutes, and drafting contracts and other legal documents. Lawyers typically earn between $69,000 - $190,000 per year.
Paralegal
A paralegal offers support to attorneys by researching laws and regulations, preparing documents and gathering evidence. Paralegals can also interview witnesses and draft pleadings or other court documents. On average they make between $60,000 - $90,000 per year.
Legal Assistant
Legal assistants support attorneys by preparing legal documents such as pleadings and briefs, organizing client meetings and answering phone calls from clients. In addition to that they may also help organize case files and review case analytics. They usually make around $40,000 -$70,000 per year.
Master's Degrees: MBA, Master of Engineering or Master of Science
If a higher-level degree is what you're interested in, then you might want to consider a Master's Degree. Specifically, an MBA (Master of Business Administration), Master of Engineering, or Master of Science can lead to some seriously high-paying jobs.
MBA
An MBA not only helps you hone your business skills and knowledge but can also provide invaluable contacts in the business world. Plus, post-graduate programs are often tailored to each individual's area of interest, so you get to pursue topics that interest you the most. This all helps with career advancement, of course and the salary advancement too!
Master of Engineering or Master of Science
If you’re more interested in engineering and science than business, then a master's degree in either one is great for higher salaries in these fields. A Masters in Engineering or Science provides specialized knowledge that enhances all areas - from research to design and operations - which is why these degrees often result in higher salaries and more opportunities for career progression.
Graduate-level degrees make sure that you have a deep understanding of the chosen field and further develops skills like communication and problem solving which can lead to more rewarding jobs. So if you're committed to obtaining the highest possible salary, consider getting a Master’s Degree!
Conclusion
While certain degrees may guarantee a high salary, no degree is a sure thing. Your future career path and ultimately your salary can depend on a lot of factors, such as your experience, diligence, and willingness to take risks. Your own interests, passions, and talents should be the driving force behind your decision to pursue a degree.
There are many ways to make a great living, and the path to success is different for everyone. If you do your research and make smart choices, you can find a degree that aligns with your strengths and interests and helps you achieve your financial goals. Don't let anyone tell you that there's just one "right" way to make it in the world.