Highest Paying Master’s Degrees

If you have completed your bachelor’s degree and are planning the next step in your quest to attain higher education and advance your career, then a master’s degree is the way to go!

The Bureau of Labor Statistics reports that employees with a Bachelor’s degree earn $1173 per week whereas an employee with a Master’s degree earns $1401 per week.  

The earning potential of a degree is an important aspect that you should consider when choosing your field of study. Now you might be wondering what are the top-paying master’s degrees. 

Keep reading to find out!

There are eleven high-paying master’s degrees: 

1. Master of Engineering
2. Master of Business Administration (MBA)
3. Master of Science in Nursing (MSN)
4. Master of Architecture (MArch)
5. Master of Computer Science (MCS)
6. Master of Education (MEd)
7. Master of Fine Arts (MFA)
8. Master of Science in Data Science (MSDS)
9. Master of Public Health (MPH)
10. Master of Social Work (MSW)
11. Masters in Cyber Security

Now, let us look at each of these in detail!

1. Master of Engineering (MEng)

The Master of Engineering (MEng) is a degree that you can pursue after completing your bachelor’s degree. It is designed to help you with the practical and technical skills required to advance your career, qualify for advanced roles, and earn a higher salary!

Now let us explore some details you must know before you embark on this journey of attaining the master of Engineering (MEng)

Expected salary range and growth rates for MEng

With a master’s in engineering, you can earn between $60,000 to $169,000 per year, depending on your engineering field. 

The salary you earn also depends on the years of experience you have under your belt, so let’s look at some growth rate statistics for MEng graduates!

• With 0-1 year of experience, an MEng graduate earns an average of $61,300. 
• With 2-5 years of experience, an MEng graduate earns an average of $65,000
• With 5-10 years of experience, an MEng graduate earns an average of $78,000
• With 10-20 years of experience, an MEng graduate earns an average of $99,000

Now, you might wonder if all MEng graduates can secure such employment after completing their degree. Keep reading to find out!

The Fung Institute for Engineering Leadership conducted an interesting study. They followed a batch of 472 students from the College of Engineering at Berkeley for six months. It was found that 172 of their students were employed, and 44 were still seeking employment.

Mean Annual Salary and projected job growth for MEng

Payscale statistics show that Master of Engineering graduates earns a mean salary of $98,000 annually. Moreover, this area of study has a projected job growth rate of anywhere between 7-29%

Best Schools for MEng

The university or college you choose for your master’s in Engineering degree can significantly affect your position in the job market. Here are the top three engineering schools in the United States:

• Massachusetts Institute of Technology
• Stanford University 
• University of California, Berkeley

Highest Paying job titles for MEng

• Petroleum Engineer
• Computer Hardware Engineer
• Aerospace Engineer

Highest paying states for MEng in the United States 

• New Hampshire 
• Massachusetts 
• Oregon 

2. Master of Business Administration (MBA)

An MBA is a postgraduate degree with a key focus on practical and theoretical training on the best business practices. It is a great investment if you believe you are suited for senior management positions. 

Expected Salary range and growth rate for Master of Business Administration

If you are an MBA graduate, employers will highly value you!

The National Association of Colleges and Employers (NACE) Winter 2021 Salary Survey found that the starting salary for an MBA graduate was $87,966. The higher end of the salary range goes up to $180,000. 

The more experience you have in your area of expertise, the more likely you will gain a high-paying position. The same can be said for MBA graduates. So let us deep dive into your employment growth rate by your years of experience as an MBA graduate!

A study by the Forte Foundation shows that with 0-5 years of experience, you can earn between $133,511 to $144,956. This range increases to $179,159 to $241,607 with 10 plus years of experience. 

Moreover, it may interest you that in 2022 the success rate of employment of MBA graduates was 92%, according to a study by Statista.

Median Annual salary and projected job growth for MBA

The median annual salary of an MBA graduate is $115,000, as found by the Graduate Management Admissions Council (GMAC). Moreover, MBA jobs are projected to increase by 8% from 2020 to 2030. Therefore, if you pursue higher education in business administration, you will likely secure a high-paying job in the United States.

Best Universities for MBA

New York University (Stern), the University of Chicago (Booth), and the University of Pennsylvania (Wharton) are the top three schools that you can attend for your MBA.

Highest Paying job titles for MBA

As an MBA graduate, you can work in the following sectors to earn the highest salaries:

• Consulting
• Financial Services
• Technology

Highest paying states for MBA in the United States 

Following are the highest paying states in the United States for an MBA graduate:

• Washington
• NewYork
• New Hampshire

3. Master of Science in Nursing (MSN)

Registered Nurses (RNs) or BSN (Bachelor of Science in Nursing) graduates can advance their careers with this graduate-level program. An MSN degree proves your credibility to prospective employers which in turn increases your chance to secure a role. 

Expected Salary range and growth rate for MSN

With a master of science in nursing (MSN) degree, you can earn between $50,000 to $195,000, depending on your specific field of interest. 

Moreover, if you are a nurse with an MSN degree, you are likely to earn 50% more than a nurse with a bachelor’s degree. The salary growth rate for an MSN graduate is 57%, meaning that if you start with a salary of $70,000, which is average, you are likely to make $110,000 with a few years of experience.

You may also find it interesting that as a graduate of MSN, your rate of a job offer is 94%. 

Median annual salary and projected job growth for MSN

The median income for most fields of nursing is $123,780 once you complete your Masters. Moreover, the projected job growth for MSN graduates is 26% compared to only 16% of those with bachelor’s degrees. 

Best Universities for MSN

Here are the top 5 universities you should look into for your MSN degree!

• University of Pennsylvania
• John Hopkins University
• Yale University
• University of North California, Chapel Hill
• University of California, San Francisco

Highest Paying Job Titles for MSN

1. Acute Care Nurse Practitioner (ACNP)
2. Critical Care Pediatric Nurse Practitioner (AC PNP)
3. Adult Nurse Practitioner (ANP)
4. Adult-Gerontology Acute Care Nurse Practitioner (AG ACNP)

Highest paying states for MSN in the United States:

• Wyoming
• Montana
• Minnesota 

4. Master of Architecture (MArch)

This graduate degree is the final step in your academic journey to becoming an architect. Moreover, with this degree, you can work as a designer, project manager, consultant, and contributor to the industry. 

Expected salary range and growth rate for MArch

As a Master of Architecture graduate, you can earn anywhere between $70,000 to $163,000 per year.

Payscale shows that if you have between 0-5 years of experience, you can earn an average of $51,000. However, with over 10 years of experience, this amount increases to $75,000. 

Median Annual salary and projected growth rate for MArch

If you have a MArch degree, your median annual salary is $80,750. Moreover, the Bureau of Labor Statistics states that there is to be a 3% increase in the employment of architects from 2021 to 2031.  

Best Universities for MArch

Take a look at these top schools for your Master of Architecture (MArch)

1. The University of California, Berkeley (UCB)
2. Columbia University.
3. Georgia Institute of Technology (Georgia Tech)
4. Cornell University.
5. The University of Pennsylvania.

Highest Paying job titles for MArch

Here is a list of the highest paying job titles you can acquire as a MArch graduate:

• Principal Solutions Architect
• DATA Center Solutions Architect
• Security Solutions Architect
• Cloud Data Architect
• Enterprise Solution Architect

Highest paying states for MArch in the United States 

• Wyoming 
• California
• Connecticut

5. Master of Computer Science (MCS)

If you enroll in an MCS program, you will be able to escape entry-level roles and attain higher-paying positions that will allow you to work in your field of choice

Expected salary range and growth rate for MCS

If you have completed your master’s in computer science, you can earn anywhere between $75,000 to $118,000, depending on your role. 

Payscale states that an MCS graduate with 1 to 4 years of experience can earn an average of $76,000. With more than 10 years of experience, this number has increased to $111,000. 

Median annual salary and projected job growth for MCS

Your median annual salary as an MCS degree holder will likely be $67,101 per year. In addition, the Bureau of labor statistics projects a 21% percent job increase in the computer science field between 2021 and 2031.

Best Universities for MCS

1. Massachusetts Institute of Technology (MIT)
2. Stanford University
3. Carnegie Mellon University
4. University of California, Berkeley
5. Harvard University

Highest Paying job titles for MCS

• Data Science Engineering
• Computer Scientist
• Data Science Instructor
• Computer Programmers

Highest paying states for MCS in the United States 

• California
• Wyoming
• Connecticut
• Washington 
• NewYork

6. Master of Education (MEd)

This one-year program will help you improve your teaching practices, significantly impact your students, and learn practical strategies for creative, inclusive learning environments. 

The expected salary range for MEd

After earning an MEd degree, you can earn between $50,000 to $174,000, depending on your job and area of expertise. 

Median annual salary and projected job growth rate for MEd

The median annual salary for a Master of Education graduate is $63,000 annually, and the job growth rates range between 5-12% annually.

Best Universities for MEd

1. Harvard University
2. Columbia University
3. University of Michigan-Ann Arbor
4. John-Hopkins University
5. University of California, Berkeley

Highest paying job titles for MEd

• School Superintendents
• Elementary, Middle, and High school Principals
• Postsecondary Education Administrators 

Highest paying states for MEd in the United States 

• Indiana
• Illinois 
• Louisiana
• Michigan
• Ohio

7. Master of Fine Arts (MFA)

MFA is a graduate degree program that will help you focus on a specific discipline related to the arts, creative writing, performing arts, or even design. Moreover, it allows you to network with professionals in your field, explore new techniques and avail mentorship opportunities. 

Expected Salary Range for MFA

On average, your salary as a Master of Fine Arts graduate can range between $57,000 to $70,000. 

Median annual salary and projected job growth for MFA

The median annual salary for a Master of Fine Arts is $59,000. Moreover, The National Association of Colleges and Employers projects that the employment of art and design professionals will increase by 27% in the next ten years. So if you are an MFA graduate, things are only looking up from here!

Best Universities for MFA

1. University of California – Los Angeles
2. School of the Art Institute of Chicago
3. Yale University 

Highest paying job titles for MFA

• Senior Designer
• Product designer
• Front End Developer
• User Experience Designer

Highest paying states for MFA in the United States:

• New York
• Massachusetts 
• New Jersey
• California
• Washington 

8. Master of Science in Data Science (MSDS)

MSDS is a STEM program that will help you be prepared for a professional career in big data. It opens up a whole stream of career opportunities for you running from database administrator to data analyst. 

The expected Salary range for MSDS

You can earn anywhere between $60,000 to $127,000 once you complete your master’s in data science. 

Median annual salary and job growth rate for MSDS

The median salary for MSDS graduates is $100,910, considered one of the highest paying jobs in the United States. Moreover, the US Bureau of Labor Statistics projects a 36% increase in the employment of Data Scientists in the coming decade. Earning your master’s in data science can be a lucrative venture. 

Best Universities for MSDS

1. Harvard University
2. Stanford University
3. Massachusetts Institute for Technology (MIT)

Highest paying job titles for MSDS

• Director Statistical Programming
• Modelling and Simulation Analyst
• Machine Learning Engineer
• R Developer

Highest paying states for MSDS in the United States

• New York
• New Hampshire
• California
• Vermont

9. Master of Public Health (MPH)

Through this degree, you will be provided training to improve the healthcare of populations. An MPH degree allows you to work for community clinics, health agencies, hospitals, and even non-profits. 

The expected Salary range for MPH

According to ZipRecruiter, if you are an MPH degree holder, you can earn anywhere between $46,000 to $119,500. 

Median annual salary and expected job growth for MPH

The current median annual salary for an MPH graduate is $51,760, and the US Bureau of Labour Statistics states that over the next 10 years, jobs in public health will increase by 5-11%. 

Best Universities for MPH

1. John Hopkins University
2. Harvard University
3. University of North Carolina – Chapel Hill

Highest Paying job titles for MPH

• Public Health Director
• Public Health Administrator
• Public Health Advisor

Highest paying states for MPH in the United States 

• New York
• Massachusetts
• Washington

10. Master of Social Work (MSW)

With this graduate degree, you will be prepared as a social worker to pursue state licensure. Moreover, after earning your degree you can switch from non-social work careers to social ones and advance your career opportunities. 

Expected Salary Range for MSW

You can earn between $62,483 and $76,293 once you complete your master’s of social work (MSW).

Median annual salary and expected job growth for MSW

$69,167 is the median annual salary, and according to the US bureau of labor statistics, the social work sector will see a 15% growth in employment. 

Best Universities for MSW

1. California State University, Fresno
2. California State University, Bakersfield 
3. Indiana University, Bloomington

Highest Paying job titles for MSW

• Director of Corporate Social Responsibility.
• Professor of Social Work
• Employee Assistance Program Counselor

Highest paying states for MSW in the United States

• District of Columbia
• California
• Connecticut 

11. Masters in Cyber Security

This computer-based degree will help you advance your technical skills and improve your critical thinking and management skills. This, in turn, will help you excel in your career path. 

The expected salary range for a Master in Cyber Security

According to Payscale, if you are looking for a job after completing your master’s in cyber security, you can earn anywhere between $63,000 to $113,000

Median annual salary and expected job growth for Masters in Cyber Security

The median annual salary of a cybersecurity graduate is $103,349 annually. Moreover, the US bureau of labor statistics shows that there will be a 33% increase in the job market for cyber security employment opportunities. 

Best Universities for Masters in Cyber Security

1. University of Central Florida
2. Auburn University
3. Florida International University

Highest Paying job title for Master in Cyber Security

• Security consultant.
• Security Architect
• Chief information security officer (CISO)

Highest paying state for Masters in Cyber Security in the United States 

• Alaska
• California
• District of Columbia 

Conclusion

Now that you know in depth the eleven highest paying master’s degrees, you can take a step forward in your academic journey and choose a master’s degree that fits best in your field of interest!