The master's degrees that give the biggest salary boost—up to 87% more money. (via CNBCMakeIt)
As part of their annual, the National Association of Colleges and Employers recently analyzed which master's degrees created the biggest increase in earnings for graduates, known as a differential. They found that in 2021, a master's in biology creates the biggest differential, with graduates earning approximately 86.5% more after their advanced degree.In contrast, NACE found that a master's in social work led to a 36.7% increase in earnings, on average.
"If someone is earning a master's degree solely for earning potential purposes, I would take a look at that particular career trajectory to understand if the payoff is there," says Shawn VanDerziel, executive director at NACE. "And to understand if the differential and starting salary is worth it."estimates that the cost of a master's degree typically ranges between $30,000 and $120,000 depending on the school, major and length of the program.
And recently, high-cost programs that saddle graduates with large amounts of student debt without preparing them for profitable professions have come under scrutiny.highlighted how recent graduates of Columbia University's film program with federal student loans owed $181,000, on average, however, two years after earning their master's degrees, half were making less than $30,000 a year.To be sure, earning a master's degree has historically been tied to higher earnings.
And workers with advanced degrees have been significantly less impacted by the economic fallout caused by the pandemic.
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