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Earning a master鈥檚 degree comes with several benefits, but perhaps the most enticing are salary and career growth prospects.

Several factors may make a master鈥檚 degree worth pursuing for you. In general, master鈥檚 degrees are associated with higher salaries, lower unemployment rates, greater lifetime earnings, and increased career advancement opportunities compared with lower education levels, such as a bachelor鈥檚 degree or high school diploma.

In this article, we鈥檒l focus on the average salary for people with a master鈥檚 degree.

Average salary with master鈥檚 degree

According to the US Bureau of Labor Statistics (BLS), people with a master鈥檚 degree in the United States earn a median of $1,737 weekly, which roughly translates to $90,324 annually [].

Overall, people with a master鈥檚 degree tend to earn more money than those with a bachelor鈥檚 degree, associate degree, or high school diploma but less than those with a doctorate or professional degree. Generally, the higher your education credentials, the more money you stand to make. Additionally, people with higher education credentials tend to experience lower unemployment rates.

Here鈥檚 a look at salary data across all education levels, according to the BLS []:

Keep in mind that this data is generated from salaries across all fields, industries, and locations, and these can be important factors to consider when trying to forecast your potential earnings at any education level.

Does a master鈥檚 degree increase your salary?

Earning a master鈥檚 degree won鈥檛 automatically increase your salary, but with a master鈥檚 degree, you may qualify for higher-paying positions or career advancement opportunities. Learn more about whether a master鈥檚 degree is worth the investment for you.

What is the highest-paying job with a master's degree?

Your anticipated salary with a master鈥檚 degree will, in part, depend on your field of study. In specific fields, a master鈥檚 degree is a widely accepted way to demonstrate advanced skills development and expertise. In others, a master鈥檚 degree may have less of an impact on your expected salary.

According to a survey from the National Association of Colleges and Employers (NACE), the master鈥檚 degree disciplines with the highest average starting salary are engineering, computer science, math and sciences, and business. Business, computer science, and engineering degrees are also the most in-demand master鈥檚 degrees among employers [].

Here are the average starting salaries for a selection of master鈥檚 degrees, according to NACE []:

Jobs that require a master鈥檚 degree

For certain job functions, a master鈥檚 degree can be a typical entry-level requirement. This tends to be more prevalent in careers requiring in-depth knowledge or professional licenses, such as health care or education administration.

Here are the median salaries and projected growth rates for roles with a master鈥檚 degree as the typical entry-level education, according to the BLS []:

Is a master鈥檚 degree right for you?

If you are considering pursuing a master鈥檚 degree to increase your salary, it鈥檚 worth researching the types of master鈥檚 degrees that best position you to reach your salary and career goals.

For example, if your goal is to earn a specific salary, you may start by researching the types of roles in your field that tend to earn salaries within your desired range, then look into the typical education expectations for those roles. Or, if your goal is to reach a top-paying position in a specific role, you may scour job descriptions or research the typical education path of the people currently in those top-paying positions.

Websites like the BLS鈥檚 Occupational Outlook Handbook or Zippia tend to offer these types of salary and education insights. Approaching your education thoughtfully can enable you to pursue the advancement path that鈥檚 worth the investment for you, whether that鈥檚 a master鈥檚 degree, certificate program, or otherwise.

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