Permanent Resident
Accounting | $73,495 | 1.9% |
Canfield Business Honors (CBHP)* | $117,556 | 3.3% |
Finance | $93,047 | 53% |
International Business | $69,302 | 1.3% |
Management | $63,328 | 4.2% |
Marketing | $66,058 | 13.5% |
Management Information Systems | $89,368 | 19.6% |
Science and Technology Management | *** | 0.1% |
Supply Chain Management | $73,921 | 3.3% |
*Canfield Business Honors Program (CBHP) students are allowed to have a double major in business: one in CBHP and one in another business discipline. Those CBHP students who double major have been counted in the percentage (%) of reports by major for their non-CBHP major. **Data points not meeting the minimum requirement of three are indicated by an N/A designation to protect student confidentiality ***no offers reported
Texas | $83,424 | $24,000-$200,000 |
Austin, Texas* | $78,014 | $24,000-$200,000 |
Dallas, Texas* | $85,289 | $40,706-$138,000 |
Houston, Texas* | $93,419 | $55,000-$200,000 |
Other Texas* | $64,084 | $37,504-$78,000 |
Mid-Atlantic | $90,000 | N/A** |
Midwest | $90,000 | N/A** |
Northeast | $105,000 | N/A** |
Remote | $75,000 | N/A** |
South | $75,000 | N/A** |
Southwest (excluding Texas) | N/A** | N/A** |
West | $110,000 | N/A** |
*The percentage (%) of reports for Austin, Dallas, Houston, and Other Texas (each) is a percentage of the overall Texas reports. **Given the limited data points, salary data not reported to protect student confidentiality.
Financial Services*** | $96,907 | $37,440-$250,000 | N/A** |
Consulting | $91,854 | $33,905-$132,000 | N/A** |
Technology | $86,527 | $40,706-$175,000 | N/A** |
Real Estate | $69,127 | $36,000-$100,000 | N/A** |
Consumer Packaged Goods | $71,477 | $35,600-$104,100 | N/A** |
Retail | $64,500 | $58,000-$70,000 | N/A** |
Manufacturing | $59,643 | $35,000-$73,000 | N/A** |
Healthcare | $59,400 | $53,000-$70,000 | N/A** |
Media / Entertainment | $49,680 | $39,500-$78,580 | N/A** |
Energy | $76,346 | $69,500-$90,000 | N/A** |
Marketing / Advertising / Communications / Digital | $58,160 | $29,120-$70,000 | N/A** |
Transportation / Logistics | N/A** | N/A** | N/A** |
Non-Profit / Education | $46,099 | $24,000-$77,000 | N/A** |
Other | $66,202 | $42,000-$102,500 | N/A** |
Accounting Services | $67,750 | $46,000-$85,000 | N/A** |
Hospitality | N/A** | N/A** | N/A** |
*All students reporting job acceptances and salary details **Data points not meeting the minimum requirement of three are indicated by an N/A designation to protect student confidentiality *** Financial Services includes Asset / Investment Management, Commercial Banking, Insurance, Investment Banking / Brokerage / Wealth Management, Multiple Financial Services, and Private Equity/Venture Capital
Internship statistics by major.
Accounting | $4,857 | 2.1% |
Canfield Business Honors (CBHP)* | $6,794 | 4.0% |
Finance | $5,469 | 49.4% |
International Business | $3,403 | 2.0% |
Management | $3,888 | 2.7% |
Management Information Systems | $5,404 | 21.1% |
Marketing | $3,898 | 11.3% |
Science and Technology Management | $5,533 | 0.4% |
Supply Chain Management | $4,314 | 2.2% |
Texas Honors Computer Science and Business (Texas CSB) | N/A** | N/A** |
Undeclared*** | $2,979 | 1.7% |
*Canfield Business Honors Program (CBHP) students are allowed to have a double major in business: one in CBHP and one in another business discipline. Those CBHP students who double major have been counted in the percentage (%) of reports by major for their non-CBHP major **Data points not meeting the minimum requirement of three are indicated by an N/A designation to protect student confidentiality ***Students typically declare a major in their second year
Texas | $4,640 | $1,000-$10,400 |
Austin, Texas* | $3,994 | $1,000-$9,166 |
Dallas, Texas* | $5,142 | $2,076-$10,400 |
Houston, Texas* | $5,466 | $1,000-$9,533 |
Other Texas* | $3,173 | $1,300-$4,940 |
Mid-Atlantic | $5,678 | N/A** |
Midwest | $4,333 | N/A** |
Northeast | $7,107 | N/A** |
Other | N/A** | N/A** |
Remote | $3,640 | N/A** |
South | $4,333 | N/A** |
Southwest (excluding Texas) | N/A** | N/A** |
West | $5,997 | N/A** |
* The percentage (%) of reports for Austin, Dallas, Houston, and Other Texas (each) is a percentage of the overall Texas reports. **Data points not meeting the minimum requirement of three are indicated by an N/A designation to protect student confidentiality
Financial Services*** | $6,188 | $1,300-$18,633 | 34.5% |
Consulting | $6,209 | $1,000-$10,400 | 15.5% |
Technology | $4,879 | $2,000-$11,267 | 15.6% |
Real Estate | $3,168 | $1,000-$6,667 | 6.0% |
Non-Profit / Education | $2,951 | $1,560-$5,578 | 3.4% |
Manufacturing | $3,885 | $2,080-$5,547 | 5.0% |
Energy | $4,466 | $3,120-$10,400 | 3.2% |
Retail | $3,764 | $2,080-$5,200 | 3.9% |
Consumer Packaged Goods | $4,631 | $2,600-$6,587 | 2.5% |
Other | $2,576 | $1,140-$4,333 | 1.2% |
Media / Entertainment | $3,030 | $1,408-$7,800 | 1.6% |
Marketing / Advertising / Communications / Digital | N/A** | N/A** | N/A** |
Healthcare | $3,387 | $1,200-$5,200 | 2.5% |
Transportation / Logistics | $4,085 | $2,600-$7,973 | 1.7% |
Accounting Services | $5,251 | $3,467-$7,063 | 2.7% |
Government | N/A** | N/A** | N/A** |
Hospitality | $2,196 | $1,127-$3,640 | 0.7% |
*All students reporting job acceptance and salary details **Data points not meeting the minimum requirement of three are indicated by an N/A designation to protect student confidentiality ***Financial Services includes Asset / Investment Management, Commercial Banking, Insurance, Investment Banking / Brokerage / Wealth Management, Multiple Financial Services, and Private Equity/Venture Capital
Mpa employment statistics.
| |
Received Offers - U.S. Citizen/Permanent Resident | 99% |
Received Offers - Foreign National | 100% |
| |
Public Accounting - Audit | 47% |
Public Accounting - Tax | 27% |
Public Accounting - Advisory | 8% |
Finance | 7% |
Consulting | 6% |
Industry | 5% |
|
|
|
|
Public Accounting - Audit | $68,196 | $4,953 | $73,149 |
Public Accounting - Tax | $68,598 | $3,334 | $71,932 |
Public Accounting - Advisory | $77,211 | $4,967 | $82,178 |
Finance | $83,179 | $9,100 | $92,279 |
Consulting | $83,647 | $6,917 | $90,564 |
Industry | $72,950 | $6,417 | $79,367 |
*44% reported signing bonuses
|
|
|
Southwest | 60% | 73% |
West | 16% | 7% |
South | 10% | 2% |
East | 7% | 15% |
Midwest | 5% | 2% |
International | 2% | 1% |
Msba salary outcomes.
Full-Time Salary Profiles | $104,579 | $105,000 | $55,000 | $153,000 |
Full-Time Salary Profiles | $82,198 | $81,900 | $57,500 | $110,000 |
Full-Time Salary Profiles | $98,721 | $99,000 | $72,529 | $130,000 |
Full-Time Salary Profiles | $68,683 | $70,000 | $33,389 | $115,000 |
Full-time statistics overall.
Full-Time Statistics Overall | Mean | Median |
---|---|---|
Base Salary | $157,735 | $175,000 |
Signing Bonus | $32,915 | $30,000 |
Corporate Finance | $126,000 | 2% |
Investment Banking | $172,895 | 9% |
Real Estate Finance | N/A** | 1% |
Private Equity/Venture Capital | $147,600 | 4% |
Asset Management | $117,250 | 2% |
Corporate Development | N/A** | 1.% |
Product Management | $142,038 | 9% |
Product Marketing | 118,667 | 2% |
Brand Management | 119,200 | 4% |
Demand Generation Marketing & Business Development | N/A** | 1% |
Other Marketing | $130,333 | 3% |
Consulting | $173,679 | 44% |
Project Management | $123,498 | 3% |
Operations & Logistics & Supply Chain | $141,625 | 4% |
LDP/Rotational Programs | N/A** | 1% |
$127,667 | 4% |
** Data points not meeting the minimum CSEA data requirements (minimum of three) are indicated by an N/A designation
Technology | $137,111 | 15% |
Consulting | $174,615 | 43% |
Financial Services | $159,464 | 16% |
Energy & Utilities | $133,749 | 5% |
Consumer Products | $124,000 | 6% |
Real Estate | $125,000 | 2% |
Retail | $134,167 | 4% |
Travel & Transportation | $114,333 | 2% |
Healthcare | N/A** | 2% |
***Other | N/A** | 1% |
***Other industries include media and entertainment, non-profit & social enterprises
Southwest | $175,000 | 68.9% |
West | $142,800 | 6.7% |
Northeast | $175,000 | 13.4% |
South | $132,500 | 4.3% |
Midwest | $165,000 | 5.3% |
Mid-Atlantic | N/A** | 1% |
View a printable version of the Full-Time program's Class of 2022 Salary Statistics
Internship statistics overall.
Monthly Base Salary | $10,191 | $9,240 |
Investment Banking | $14,730 | 12% |
Corporate Finance | $8,343 | 5% |
Asset Management | $8,469 | 4% |
Real Estate Finance | N/A** | 1% |
Corporate Development | N/A** | 2% |
Private Equity/Venture Capital | $6,375 | 5% |
Product Management | $8,515 | 8% |
Brand Management | $8,252 | 4% |
Demand Generation Marketing & Business Development | $7,981 | 2% |
Product Marketing | $8,090 | 8% |
Other Marketing | $6,213 | 4% |
Consulting | $13,350 | 27% |
Other Management | $8,252 | 8% |
Operations & Logistics & Supply Chain | $7,348 | 5% |
LDP/Rotational Programs | $10,275 | 2% |
$6,917 | 4% |
***Other industries include human resources, governmental affairs, law, business intelligence, marketing analytics, business/corporate development, other
Technology | $8,335 | 21% |
Financial Services | $12,354 | 21% |
Consulting | $14,195 | 25% |
Energy and Utilities | $7,721 | 6% |
Consumer Products | $8,586 | 5% |
Healthcare | $5,858 | 4% |
Real Estate | $5,880 | 3% |
Retail | $8,487 | 5% |
Travel & Transportation | N/A** | 1% |
**Other | N/A** | 2% |
**Other industries include legal and sports
Southwest | $8,667 | 64.4% |
West | $9,240 | 13.4% |
Northeast | $14,583 | 9.8% |
South | $10,000 | 2.6% |
Midwest | $10,417 | 4.6% |
Mid-Atlantic | $10,833 | 2.1% |
Outside the U.S. | N/A** | 3% |
Phd program rankings.
What are the highest paying doctoral degrees ? Despite stories of candidates being “overqualified” for job openings, or potential employers passing over applicants with “useless” degrees, Ph.D. holders have the lowest average unemployment rate of any level of educational attainment.
Generally speaking, gaining more years of higher education is almost always good for your earnings potential!
Short of professional degrees (which include Doctors of Medicine and Juris Doctors, or lawyers), Ph.D.’s also earn the most over their lifetime when compared to other degree types. Take a look at the highest-paying doctoral degrees!
Additional Resources: America’s Most Popular PhD Degrees
Now that we’ve covered the important factors that affect Ph.D. earnings (including industry and location of employment), let’s take a look at what specific highest-paying doctoral degrees are available on a national level.
We’ve looked at over 50 of the most common doctoral degree programs in terms of early career earnings, mid-career salaries, and “maximum” earnings. While there are obviously outliers with Ph.D. programs in many of these fields, “maximum” career earnings were taken by noting the earnings of the top 10% of earners with the degree in question, or the average salary for degree holders with the degree in a single city, whichever is greater.
Below we’ve ranked the highest paying doctoral degrees by their “maximum” salaries.
Statisticians utilize statistical analysis to aid in decision-making and product development in a wide range of industries. Commonly employed in business, health care, government roles, think tanks, technology, and non-profits, statisticians are in high demand among organizations that intake enough data to require statistical analysis.
Most statistician jobs require a master’s degree, so obtaining a doctoral degree in statistics helps statisticians to stand out even more in this sought-after profession. It’s noteworthy that doctorate degrees in statistics have one of the highest starting salaries of doctorate degrees surveyed. Their “maximum” salary, however, is slightly lower than the remaining professions in our ranking.
As populations age and health care becomes more reliant on big data and technology, Biomedical Engineering stands to play a more and more central role in healthcare solutions.
In fact, the Bureau of Labor Statistics notes that Biomedical Engineering roles are expected to increase by more than 5% in the next seven years. Presently a doctoral degree in Biomedical Engineering stands as the primary way to become involved with research in biomedical research.
Often paired with an M.D., some medical device makers who also practice as medical doctors make substantially more than the maximum salary listed below. Just looking at the Ph.D. in the subject, however, the most common job description includes designing, studying, or improving biomedical devices.
Common locations of employment for biomedical engineering include hospitals, consulting firms, research groups, university settings, and manufacturing companies. It’s worth noting that while early-career average earnings are on the lower end of our list, by mid-career, Ph.D.’s in biomedical research are farther into the pack.
Ph . d. in im munology.
Immunologists are medical researchers (and for those with M.D.s, practicing physicians) who focus on disease immunity. For those holding Ph.D.s in Immunology, common work settings include teaching in universities, research in universities or hospitals, policy-related roles, or research in public and private labs.
While dual M.D.s and Ph.D.s are often required to pursue research on your own as an immunologist, just one of these two degrees focused on immunology is required to obtain a position in public and private research settings.
Since 2004, there has been a widespread shortage of immunologists across the nation. This has led to 10%+ additional vacancies in job openings each year over the last decade. This has been reflected in the rising income of immunologists.
When looking at early, mid, and maximum salaries for immunologists, it’s of note that those holding both Ph.D.s and M.D.s stand to make substantially more than those with “just” a Ph.D. in the discipline.
Ph.d. in pharmacology.
Pharmaceuticals are big business, and pharmaceutical researchers are on both the front line with patients in need and scientific endeavors expanding the field. Those who pursue Ph.D. in pharmacology (a distinct degree from a Pharm.D.) are expected to have a master’s degree in related material.
Doctor of Pharmacy degrees, on the other hand, are shorter programs requiring 60-90 credit hours of prerequisites at the undergraduate level.
Pharm.D. programs prepare students for being pharmacists, while Ph.D.’s in pharmacology prepare students for research and instruction roles. While entry-level earnings are lower for Ph.D.s than Pharm.D’s, Ph.D.s can earn significantly more in research roles by their mid and late-career.
Electrical engineers are some of the most versatile engineering types, finding employment in aviation, consumer goods, technology, transportation, logistics, and a wide range of other industries. While most forms of electrical engineering already provide a steady and well-compensated gig for life, Ph.D.s in electrical engineering are highly sought after.
While a Ph.D. in electrical engineering may still do some engineering work (some will work exclusively on topics they have specialized in) many hold advanced degrees in engineering instead of supervising teams.
For roles like chief technology officer, head of product, staff research engineer, project expert, and director of research and development, having a doctorate degree in electrical engineering may help candidates to stand out in extremely competitive fields. Additionally, moving up the corporate ladder that far increases pay far beyond that of “run-of-the-mill” engineers.
For the top 10% of earners holding a Ph.D. in electrical engineering, over $78,000 in compensation is the norm, often ranging much higher depending on the role performed.
Ph.d. in clinical psychology.
Ph.D.s in clinical psychology have a wide range of career paths to choose from. For those looking to practice clinical psychology, a 1-year externship program is often required, where students obtain experience working with patients. Ph.D.s will also often specialize in one area. Common areas include health psychology, child psychology, and neuropsychology.
Additionally, Ph.D.s in clinical psychology may elect to work in case management roles, as supervisors in treatment centers, in hospital settings, in education, in corporations, or in research settings.
This wide range of occupational settings creates quite a disparity between early-career earnings and the earnings of the upper 10th percentile of clinical psychologists, as one can see below. With this range of roles one can pursue with a Ph.D. in clinical psychology, however, comes great freedom.
This versatile degree can help those in need, advance the study of the human mind, enhance corporate efficiency, or help in the education of the next generation of psychologists.
Ph.d. in aerospace engineering.
Ph.D.s in Aerospace Engineering is one of the few sub-discipline degrees among doctoral engineering choices. While there are many Ph.D.s that may help you advance in aerospace engineering fields (physics, other engineering degrees, natural sciences, and so forth), aerospace engineering Ph.D.s often spend additional time diving into research on one subsystem of aerospace technologies.
For example, sensors, payload analysis, failure analysis, and so forth. With that said, a Ph.D. in any engineering discipline often provides a framework through which recipients can address any engineering problem.
And — even if not initially — many Ph.D.s in aerospace engineering find themselves working in other engineering fields, running their own companies, or moving into management. As one may expect, aerospace can be quite a lucrative field and includes employers such as NASA, defense contractors, branches of the military, airlines, vehicle manufacturers, telecommunications companies, and research opportunities at universities.
Ph.d. in engineering.
Ph.D.s in engineering are research-based degrees that focus on engineering at a theoretical level and prepare the recipient for either a role as a researcher or university instructor or industry work.
A similar doctorate of engineering degree is also a research degree (unique among professional degrees) and is similar in many ways to Ph.D. in engineering save for a higher focus on industry applications.
Ph.D.’s in engineering are some of the most versatile engineering degrees at the doctoral level. However, they may require time for the recipient to gather domain-specific knowledge (say, engineering related to wind tunnels, power plants, or aircraft).
This is evidenced by the growth in salary from entry-level through the highest 10% of earners in which engineering Ph.D.’s can nearly double their salary.
Chemical engineering is a multidisciplinary field utilizing physics, chemistry, economics, engineering, and math to resolve problems related to producing, using, transforming, and transporting chemicals.
Chemical engineers are routinely involved with all manner of consumer and business-facing production environments, from creating new materials for diapers to hazard assessments to large manufacturing plants.
Almost any consumer product produced on a large scale likely had a chemical engineer involved with some portion of manufacturing. So one can imagine the demand for chemical engineers is high. In fact, around 8% more chemical engineering manufacturing jobs are expected to be open in the next seven years.
For those with Ph.D.s in the discipline, employment opportunities also exist in research, academia, consulting roles, and entrepreneurship.
Ph.d. in physics.
Physics is the study of matter and the behavior of matter through space and time. When many think of physicists, they think of the cosmos. But many of the hardest engineering problems are also related to physics.
Those with Ph.D.s in physics will likely have specialized in one or more subject matter areas including optics, the physics of sound, atomic physics, nuclear physics, and gravitational physics, among many others. This often leads to important research roles in private industry or university settings.
From cars to spacecraft to telescopes, physicists have played integral roles in advancing products. With that said, even if Ph.D.s in physics have previously specialized in one area of science, physics helps to prepare scientists with the ability to think about a wide range of problems.
For this reason, many Ph.D.s in physics may find themselves in demand in a wide variety of industries throughout their career. And many talented physicists will find themselves well compensated.
Ph.d. in organic chemistry.
Chemistry is the study of the structure, properties, and reactions between compounds and materials. Organic chemistry utilizes the same research methods to focus on organic matter.
The good news is that this collection of compounds and materials (those that contain carbon) comprise a majority of known chemicals. Furthermore, all living matter is the study of organic chemistry. This means that applications for analysis through organic chemistry are veritable and limitless.
From pharmaceuticals to natural resources and geology to chemical engineering, the results of organic chemistry are all around us. Unfortunately (or fortunately if this is not the case for you), organic chemistry is known by many as one of the “hardest” subjects taught in higher education. For those who can excel in the subject matter, a wide range of career opportunities and compensations are available.
Biochemistry is the scientific study of chemical processes related to or within living organisms. Molecular biology is an approach to studying biological mechanisms from a molecular level.
Together these fields of study offer a uniquely fine-grained way of studying living systems. While Ph.D.s in biochemistry and molecular biology are highly specialized, they find employment in a surprisingly wide range of settings.
From state crime labs to pharmaceutical development projects, biochemists and molecular biologists are often some of the most crucial specialists for ascertaining what goes on in our body at a molecular and chemical level.
Additionally, Ph.D. programs in these disciplines may, of course, find employment in research and instruction in university settings.
With this wide range of employment settings, there is also a wide range of compensation for biochemists. For the top 10% of earners, however, the field can be quite lucrative, making it our 4th highest-paying doctoral degree for 2022 and 2023.
Ph.d. in computer science.
Computer science is the study of the theory of computation as well as the design of computational systems. Computer science as a field of study has nearly as many sub-disciplines are there are forms of computing technology.
Though many Ph.D. recipients in the field will have specialized in a handful of technologies or theoretical components related to computing, computer science is also an approach to problem-solving that lends itself to the solving of many engineering situations.
While many with computer science degrees will find themselves in roles such as software developers early in their career, gaining a doctoral degree in the discipline can help workers quickly advance to positions such as systems architect, researcher, or development positions in subdisciplines of computer science.
Particularly highly compensated subdisciplines within computer science include information assurance, machine learning, artificial intelligence, virtual reality, virtualization, and many others.
Ph.d. in economics.
Economics is the social science that is intent on studying the production, consumption, and distribution of services and goods. Economic analysis often falls into a variety of categories that a Ph.D. candidate in economics could choose to focus on.
Broadly, these segments of economic analysis include micro and macroeconomics, theoretical analysis and applied analysis, normative and positive economics, and rational and behavioral economics.
As with all social sciences, each competing school of thought offers its own insights, and many are highly sought after in many domains of industry and public life. Economic analysis is particularly sought after in fields such as education, health care, criminology, and finance, among others.
A Ph.D. in economics can, of course, also elect to work in research or academic settings depending on their skill set. While early-career earnings are quite solid for those with Ph.D.s in economics, those moving into consulting roles or finance can command much higher salaries.
Ph.d. in information assurance.
Information Assurance is a discipline just recently brought to prominence by the massive amount of data and information held in computing devices and networks. With the rise in prominence of the internet and connected devices, many corporations and public entities have been unable to keep up with cybersecurity demands.
As of 2019, over 1 million cybersecurity openings will be unfilled nationwide. Additionally, the average age of those currently working in cybersecurity is approaching 50, meaning a lack of younger talent.
Though they will still need hands-on experience at lower levels, Ph.D.s in information assurance are great candidates for being the go-to resource on cybersecurity for organizations. As such, being a Ph.D. in information assurance in many organizations could put you on a shortlist for advanced positions such as chief information security officer.
While the average early and mid-career salaries of information assurance Ph.D.s are quite strong, many C-Level information assurance roles can bring in $300,000+.
The top 10% of jobs for the highest-paying Ph.D. in Information Assurance bring in over $100,000 a year or more, making information assurance the highest-paying Ph.D. surveyed in this year’s ranking.
What is a ph.d..
First, we should clarify exactly what degrees we’re talking about. A Ph.D. is an abbreviation for Doctorate of Philosophy. Ph.D. holders obtain Doctorate of Philosophy degrees in some subjects. Though “Philosophy” is in the title, this is largely a historical artifact from when the study of philosophy encompassed most of the traditional arts and sciences.
Today, someone holding a Doctorate of Philosophy in Statistics will have mainly studied statistics and supporting disciplines within their course of study. The underlying spirit of the degree still applies, however.
“Philosophy” means “lover of wisdom,” while a doctorate is the highest degree in a university. Therefore, a doctorate of philosophy is the highest degree awarded to a “lover of wisdom” within the university system.
Typically this means that Ph.D. graduates have endeavored upon unique and substantial research in their field of choice and have attempted to advance their field of study.
While there is a range of common doctorate degrees, many are not Ph.D.s.
This usage of the term Ph.D.– though technically correct — is contrary to the common usage of the term. In ordinary conversation, Ph.D. and “Doctorate” are often used interchangeably. The main exception to this rule is that many people do distinguish between common professional degrees (including medicine and law) and more research-centered Ph.D.s.
In our investigation, we’re looking specifically at Ph.D.s, and not professional doctoral degrees. Though in many of the most lucrative Ph.D.s listed below, we do discuss the differences and similarities between Ph.D.s and professional degrees in the same subject.
In employment, location matters. In fact, along with your line of work, the location may be the single most significant determinant of compensation.
After all, the minimum wage in some cities approaches the average wage of earners in some states. The average hourly wage in America as a whole more than triples in a handful of the most populous cities.
In short, no conversation about payment of Ph.D. is complete without reference to where the said Ph.D. is working. While looking at the earnings of the entire population in locations is a good indicator of whether or not Ph.D.s may make more in an area, Ph.D.s tend to occupy a disproportionately high degree of jobs in the most lucrative fields in a region.
In a region rich with natural resource extraction, many Ph.D.’s are likely employed in geology or natural resources. In an area rich with information technology organizations, more Ph.D.s in computer science are probably employed.
This is partially accounted for by the trend of universities with large research presences in a field helping to foster entrepreneurship in a given field throughout the region. High concentrations of researchers and university funding help to create more business opportunities. In turn, this draws more talent to the universities in the region.
This is to say that average earnings within a region are at times not directly tied to Ph.D. earnings. Rather, an average salary in a region may be quite low, while opportunities for Ph.D. holders may be centered around the most well-supported industries specific to the region. With that said, many of the highest-earning cities and states in the nation are also the centers of highest compensation for Ph.D. graduates with doctoral degrees.
The industry employing a Ph.D. holder is equally important (and often tied) to the location in which doctoral workers work when talking of compensation. While many top universities have highly regarded programs in many disciplines, many universities are known for just a handful of programs are the graduate level. This leads to geographic clusters of Ph.D.s in very different industries.
An example of the above may be seen in the following. The University of Iowa and the University of Mississippi are both well-known for their graduate programs in creative writing. A disproportionately high number of graduate degree holders in the vicinity of both universities are writers or writing instructors.
Even Ph.D.-level graduates in English literature don’t lead to as high of an income as say, chemical engineering. This industry discrepancy (among others) leads to great clusters of highest-paying doctoral degrees in California’s Bay Area, or Minnesota’s Twin Cities region (both of which are home to top-ranked chemical engineering schools).
Along with location, the industry in which a Ph.D. works is integrally tied to earning power. Below is a sampling of average earnings for the highest-paying doctoral degree by industry.
See also: Top Free (or Cheap!) Online Ph.D. Level Courses
Check this out for more information: Jobs That Require a Ph.D. or Doctorate Degree
Pursuing an MBA is a strategic move to boost your career and income. For perspective, while a bachelor's degree might yield median weekly earnings of $1,661 (as of 2022), those with an MBA—a widely recognized professional degree—can expect median weekly earnings of $2,080. 1 Those with a professional degree also have a lower unemployment rate than bachelor’s and high school graduates. 1
Digging deeper, the salary you earn is dependent on many things including the industry you work in, job market trends and the type of career you pursue.
In this article, we'll break down the factors that influence the MBA salary and highlight the job opportunities this degree can open up.
There’s great news for MBA graduates. According to a 2023 Bloomberg News survey conducted among alumni, students and employers, “the median gain in salary from students’ pre-MBA jobs to their first jobs out of business school in 2022 was $85,000.” 2
While discussing median wage average increases and MBAs, it's important to note the various elements that define MBA salaries. All of these factors are important to remember when you’re doing salary negotiations.
Influencing factors that can affect total compensation for job roles include:
Let’s take a closer look at a few of these factors.
Professional experience matters. As you gain more years in your field, you'll tackle real-world challenges that aren't covered in textbooks. Combining this experience with knowledge from MBA programs can make you a preferred candidate for employers.
This combination often results in higher salaries and potential performance bonuses and according to LinkedIn, “employees with extensive relevant experience demand a higher pay rate.” 3 The more specific the experience, the better the match. Knowing a company's pay structure can be an asset when negotiating your post-MBA salary.
Many roles, especially in sectors like the finance industry and business analytics, offer more than just a fixed salary. They might include performance bonuses, stock options or commissions.
According to Bloomberg News, the top industries for new MBA grads include:
For MBA graduates, depending on the company and job role, there's an opportunity to earn a competitive base salary with added financial perks. Insights from MBA courses and programs that offer career support can guide you on which careers offer these lucrative benefits.
An advanced degree, like the MBA, often comes with increased salary expectations. Therefore, an MBA becomes an obvious choice for those looking to further their business education. MBAs from renowned and reputable business schools can give you an advantage during salary discussions.
Professional licensure or certification can also lead to higher salaries as can higher levels of education. Additionally, master's degrees in specific areas like marketing can also enhance your ability to negotiate for higher wages.
Accessing this education can be easier with the proper support. According to a research report by the Society for Human Resource Management, 56% of employers offer educational assistance benefits. 4 Educational assistance can take the form of partial or full tuition coverage, scholarships and more.
Make sure to check out the benefits offered by different organizations when you’re looking for an MBA that will help you enhance your career options.
Your MBA degree salary can go further depending on where you’re located. Although location doesn’t have as big of an impact on wages as other factors, your salary can go further based on geographic demand for a job and the average cost of living in an area.
As the Brookings Institute explains, “A worker in a metro area with a relatively low cost of living (e.g., Dallas) might think twice before accepting a slightly better-paying position in a metro area with a higher cost of living (e.g., San Francisco).” 5 You might also consider income or sales taxes, as well as public amenities like libraries, cultural centers and other attractions.
When navigating the business world, one of the common crossroads that professionals often encounter is whether to stick with a bachelor’s degree in business, like a Bachelor of Science in Business Administration (BSBA), or to pursue a Master of Business Administration (MBA).
While the allure of an MBA is undeniable, there are several facets of the decision to be evaluated.
Let’s explore how the two degrees stack up against each other, particularly in terms of salary expectations.
In the evolving business world, many face the pivotal decision of whether to continue with their Bachelor of Science in Business Administration (BSBA) or to elevate their potential by pursuing a Master of Business Administration (MBA).
While both offer valuable insights into the business realm, the MBA degree clearly shines in several aspects, especially when we consider salary expectations. Let's deep dive into the financial dividends of these degrees to better understand their worth—and why pursuing an MBA, post-undergrad, could make a good return on your investment.
The starting salary for a BSBA graduate is influenced by various factors including specialization, industry and location. However, when juxtaposed with the average MBA starting salary, it's evident that the latter frequently boasts a more lucrative package.
Citing data from the National Association of Colleges and Employers, in 2021, business majors with a bachelor's degree had a median starting salary of around $57,000. 6 On the other hand, the Graduate Management Admission Council reported that MBA graduates reported an average starting salary of over $115,000 in 2022. 7
It's worth noting that pursuing an MBA, especially from top-ranked MBA programs, often comes with a notable tuition fee. However, when weighing this against the potentially higher salaries, job opportunities and performance bonuses, many see the MBA as a sound investment for their future.
Holding a Bachelor of Science in Business Administration (BSBA) paves the way for opportunities across various sectors, enabling business majors to explore a multitude of job roles. Yet, to truly stand out for high-paying roles, particularly in finance, consulting and tech sectors, an MBA degree can help propel you to the forefront. 2
It’s also important to note that with the dynamic shifts in the business landscape, there's a burgeoning demand for roles centered on business analytics, digital marketing and sustainability.
By pursuing an MBA with updated course offerings tailored to these emerging trends, you not only position yourself as a preferred candidate but also unlock potential salary brackets that rival, if not surpass, those of a traditional MBA.
Average MBA salaries and starting salaries for BSBA graduates are good barometers, but they're merely a segment of the complete compensation panorama.
To fully evaluate potential earnings, prospective MBA students and BSBA graduates should consider the entire compensation package. This package might encompass signing bonuses, stock options and performance bonuses.
For instance, MBA hires in leading technology companies often receive generous signing bonuses and stock options. In contrast, BSBA graduates, particularly in start-ups, might value the exponential job growth potential and dynamic work environment.
In the grand scheme, while a bachelor's degree in business administration lays a robust foundation for fresh entrants into the business world, an MBA degree amplifies one's credentials, offering the potential of not just higher salaries but also a broader spectrum of job opportunities and professional growth. 8
Today, numerous firms provide further education benefits, presenting an opportunity for BSBA graduates to consider an online MBA program or a specialized master's degree, enriching their skillset without the substantial costs. 4
Embarking on your journey in the business world with a Bachelor of Science in Business Administration is an excellent foundation. However, for those aiming for the zenith of professional growth and the highest average salaries, MBA degrees from renowned business schools can act as a catalyst.
This advanced degree, particularly from accredited MBA programs, amplifies your credentials and can help better position you for not only higher salaries but also for leadership roles, high-paying jobs and unparalleled job opportunities in competitive sectors. 8
To navigate your business career successfully, it's essential to stay attuned to job market trends and industry-specific salary data. Yet, above all, aligning with an academic path that resonates with your aspirations and long-term goals is paramount.
While the BSBA provides a strong base, the MBA degree remains the pinnacle for those looking to attain the highest echelons of the corporate realm.
The Marquette online MBA from the Marquette University Graduate School of Management goes beyond standard practices, ensuring that you’re not just career-ready, but also equipped to be a change-maker. As industries evolve, the demand for strategic, ethically-driven business leaders intensifies. 9
With a curriculum emphasizing business literacy, strategy and leadership , you become that sought-after graduate. You'll harness insights from the same distinguished faculty that graces their top-ranked on-campus programs, guaranteeing a learning experience infused with real-world relevance and academic rigor.
Several compelling reasons underpin why a Marquette online MBA stands out:
When you couple all these advantages with the possibility of accelerating your program based on your undergraduate business studies, the Marquette online MBA truly emerges as an unparalleled choice for ambitious professionals.
Ready to redefine your professional future? Dive deeper into Marquette's transformative online MBA program. Speak with an admissions outreach advisor today and pave your path to unparalleled success.
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Marquette University has engaged Everspring , a leading provider of education and technology services, to support select aspects of program delivery.
Online MBA or MiM
Featured content, related degrees by salary.
Degrees in the same industry as Bachelor's Degree, Business Management, ranked by salary
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Gender breakdown for bachelor's degree, business management, job satisfaction.
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Degrees in the same industry as Doctorate (PhD), Business Administration, ranked by salary Master of Business Administration (MBA), Business & Marketing Avg. Salary $57k — $179k
20. Immunology. National average salary: $182,342 per year Immunologists with a Ph.D. study infectious diseases and create public health policies related to disease transmission and prevention. A background in a relevant degree program related to immunology is typically a prerequisite for this area of study.
Gender Breakdown for Doctorate (PhD), Business Management. Female. 66.7 %. Avg. Salary: $0 - $0. Male. 33.3 %. Avg. Salary: $0 - $0. This data is based on 6 survey responses. Learn more about the ...
Doctorate of Business Administration Admission Requirements. The admissions process for a DBA program is relatively standard, though precise requirements may vary among programs. To qualify for a ...
The estimated total pay for a PhD Student is $175,571 per year in the United States area, with an average salary of $115,475 per year. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The estimated additional pay is $60,096 per year.
Aside from the increased employability, the doctorate in business administration salary is another benefit of pursuing such a degree. According to the U.S. Bureau of Labor Statistics (BLS), in 2021, doctoral degree holders earned a median weekly salary of $1,885, much higher than the average for master degree holders who earned $1,545 or bachelor with $1,305.
The average salary of a professional with a Master's in Business Administration is $92,000, while the average salary of a business administration PhD holder is $101,000, according to PayScale. This difference in salary can be attributed to the types of careers graduates of these different degrees are qualified for.
On the other hand, some professionals with a Ph.D. in business administration go the private business route and become CEOs. Payscale.com reports the median salary for CEOs is $164,800. This also will vary with experience: Less than five years experience: $120,000. Five to 10 years of experience: $154,000. 10 to 20 years of experience: $193,000 ...
Taking a doctorate in management can be a logical step in the career of someone who has a history of working in business, project management, or the economy as well as several other sectors. ... the average salary for someone working in education administration with a doctorate is around the $199,400 mark. ... PhD Graduates make on average ...
Salaries for PhD in Management holders might range from moderate to high, based on various characteristics. Individuals with a PhD in Management, for example, who work as professors or researchers in universities or other educational institutions may earn a starting salary ranging from $60,000 to $100,000 per year, depending on the rank and ...
The expected lifetime earnings for someone without a high school degree is $973,000; with a high school diploma, $1.3 million; with a bachelor's degree, $2.3 million; with a master's degree, $2.7 million; and with a doctoral degree (excluding professional degrees), $3.3 million. Other data indicate that the overall unemployment rate for ...
Total pay range. $141K - $259K/yr. $187K/yr Median total pay. Pay breakdown. $88K - $161K/yr Base pay. $53K - $98K/yr Additional pay. The estimated total pay for a Phd Business is $187,403 per year, with an average salary of $117,363 per year. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay ...
The majority of our PhD in Management students pursue careers in academia. After graduation, many land tenure-track teaching positions at top-tier business schools and continue to advance knowledge through original research. Johnson School PhD students often field multiple offers and see starting salaries range from $150,000 to $250,000.
2. Ph.D. in Computer Science. Median Annual Salary (May 2022): $136,620. Job Outlook (2022-2032): 23%. Computer scientists develop new technologies and improve existing ones. Employers need their theoretical knowledge and computing skills for practical application in the real world.
Bachelor of Science (BS / BSc), Customer Service Management. Avg. Salary $94k Master's Degree, Financial Management. Avg. Salary $94k Master of Business Administration (MBA), Executive Management
The BLS lists a median annual wage of $108,350 for economists. However, this estimate includes economists with master's degrees. Economists with doctoral degrees may have a higher earning potential that is closer to the top 10% of economist's salaries listed by the BLS, which is higher than $198,230.
Total pay range. $104K - $188K/yr. $138K/yr Median total pay. Pay breakdown. $77K - $138K/yr Base pay. $26K - $49K/yr Additional pay. The estimated total pay for a Phd is $138,179 per year, with an average salary of $103,054 per year. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate ...
So whether you're into teaching or business management research, here's the list of the Best PhDs in Management. Methodology. Top Management Degrees uses seven data points to rank college programs. Here they are in order of importance: A Reputation Aggregate Score from other rankings. Graduate Average Salary.
BBA Salary Survey 2022-2023: Base Salary Mean: Base Salary Median: Base Salary Range: U.S. Citizen / Permanent Resident: $87,983: $85,000: $24,000 - $250,000
The top 10% of jobs for the highest-paying Ph.D. in Information Assurance bring in over $100,000 a year or more, making information assurance the highest-paying Ph.D. surveyed in this year's ranking. Average Early Career Earnings: $86,682. Average Mid-Career Earnings: $96,249. 'Maximum' Earnings: $106,915.
Gender Breakdown for Doctorate (PhD) Male. 57.5 %. Avg. Salary: $69k - $170k. Female. 42.0 %. Avg. Salary: $58k - $160k. This data is based on 798 survey responses. Learn more about the gender pay ...
Citing data from the National Association of Colleges and Employers, in 2021, business majors with a bachelor's degree had a median starting salary of around $57,000. 6 On the other hand, the Graduate Management Admission Council reported that MBA graduates reported an average starting salary of over $115,000 in 2022. 7.
Application Process: To apply for the Graduate Management Trainee position, please submit your CV outlining your interest and relevant experience. Our HR team will review your application and get in touch within 1-3 business days. Job Type: Full-time. Pay: £22,000.00-£25,000.00 per year. Additional pay: Performance bonus; Benefits: Employee ...
Bachelor of Business (BB), Strategic Management. Avg. Salary $70k Bachelor of Business Administration (BBA), Business Logistics & Transportation. Avg. Salary $55k — $128k Bachelor of Arts (BA ...