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What Is the Most Lucrative Master's Degree?

Growth Trends for Related Jobs

A master's degree takes at least two years of full-time study to complete, in addition to the four years of undergraduate study required to enter a graduate program. The effort is worth it to earn an advanced degree, as graduate degrees yield median annual salaries of $67,600, compared to $55,432 for undergraduate degrees. The most lucrative master's degree pays even more.

Basics

The most lucrative master's degree is computer science, which paid an average starting salary of $73,700 per year as of 2012, according to the National Association of Colleges and Employers. The lowest-earning quartile made less than $58,200, while pay for the highest-earning quartile exceeded $84,000. Other lucrative graduate degrees include business administration at a mean salary of $69,200, mechanical engineering at a mean salary of $66,800, and electrical and communications engineering at a mean salary of $66,100.

Careers

The top-paying position for those with a master's in computer science belongs to computer and information system managers, with starting salaries of $90,700 per year, and top performers averaging $129,130 annually. These managers, also called information technology managers, handle the information resources of their organizations. They analyze data processing needs, determine budgets for computer systems, buy and install hardware and software, and create security procedures for network access. They typically oversee the activities of developers, network administrators, and support staff.

Industries

Computer science graduates earned the highest salaries in the manufacturing industry, averaging $78,500 per year. This industry transforms materials into new products using mechanical, physical, or chemical methods. The information industry, which includes software development firms and web development companies, also offers a high salary at a mean $76,800. Ranking third is the finance and insurance industry, averaging salaries of $76,100. This industry manages money transactions and includes banks, credit unions, and investment firms.

Courses

A master’s program in computer science includes the same classroom courses and internships you find in undergraduate programs, but differs in several ways. Graduate programs usually require a good score on the Graduate Record Examinations (GRE) as a prerequisite for admission. Another difference is the option for a thesis, which represents new research in the student's field. Students not only have to propose a topic, research it, and write about their findings, but they may also have to defend its claims orally in front of a faculty board.

2016 Salary Information for Computer and Information Systems Managers

Computer and information systems managers earned a median annual salary of $135,800 in 2016, according to the U.S. Bureau of Labor Statistics. On the low end, computer and information systems managers earned a 25th percentile salary of $105,290, meaning 75 percent earned more than this amount. The 75th percentile salary is $170,670, meaning 25 percent earn more. In 2016, 367,600 people were employed in the U.S. as computer and information systems managers.

References

About the Author

Aurelio Locsin has been writing professionally since 1982. He published his first book in 1996 and is a frequent contributor to many online publications, specializing in consumer, business and technical topics. Locsin holds a Bachelor of Arts in scientific and technical communications from the University of Washington.

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