10 Top-Paying Careers Requiring a Master’s Degree

Get Matched to An Online College for FREE

 

There are many reasons to pursue a master’s degree: to enhance your career, open the door to new opportunities, gain a competitive edge in the job market, build a professional network, and expand your skill set. These may be reasons enough for you to invest in earning a master’s degree, but one other benefit might help you solidify your decision: increased earning potential. The Bureau of Labor Statistics (BLS) reported that in 2021, the median annual salary for those who hold a master’s degree was $26,884 more than that of the average of all workers.1 In addition, many jobs that require a master’s degree command higher pay than those that don’t: nearly half of the occupations listed by the BLS as requiring a master’s have salaries of $80,000 or more. 

Top-Paying Careers Requiring a Master’s Degree  Typical time to complete: Usually or 1 or 2 years of full-time academic study beyond a bachelor’s degree  Formats: Online, hybrid, on-campus   Most common master’s degrees earned, 2021:  
Business: 202,334 
Education: 153,756 
Health professions and related programs: 142,025 
Computer and information sciences and support services: 54,174 
Public administration and social services: 49,388

In this article, we list 10 top-paying careers that typically require a master’s degree at the entry level, as specified by the BLS. Note that there are a number of careers—some that are often higher-paying than those listed here—that may not require a master’s, but for which a master’s degree might be preferred. This could be especially true for those who have earned an MBA or master’s in a business-related field. Refer to the “How to Become One” tab on the BLS site to learn more about the requirements for a particular career. 

Also make sure to check out our article 10 Top In-Demand Careers Requiring a Master’s Degree.”

1 Computer Support Specialist


Industries with the highest levels of employment in Computer Support Specialists, 2022:

IndustryEmploymentAnnual mean wage 
Computer Systems Design and Related Services 160,800$59,700
Employment Services43,800$55,230
Management of Companies and Enterprises38,150$62,970 
Elementary and Secondary Schools 35,360 $54,450
Software Publishers 29,570 $70,960 

What They Do:

Provide technical support to computer users; maintain networks

Employment, 2022

914,100

Projected employment, 2032

963,300

2 Preschool Teacher


Industries with the highest levels of employment in Preschool Teachers, 2022:

IndustryEmploymentAnnual mean wage 
Child Care Services 290,870$34,480
Elementary and Secondary Schools75,700$53,200
Individual and Family Services 12,530$39,470
Religious Organizations 7,240$40,960
Local Government, excluding schools and hospitals (OEWS Designation) 6,490$45,140

What they do:

Care for and teach basic skills to children who have not yet entered kindergarten

Employment, 2022

512,300

Projected employment, 2032

529,600

3Paralegal/Legal Assistant


Industries with the highest levels of employment in Paralegals and Legal Assistants, 2022:

IndustryEmploymentAnnual mean wage 
Legal Services 263,170$60,570 
Local Government, excluding schools and hospitals (OEWS Designation) 16,420$61,190 
Federal Executive Branch (OEWS Designation) 15,080 $76,310 
State Government, excluding schools and hospitals (OEWS Designation) 10,850 $52,900 
Management of Companies and Enterprises 6,890 $84,260 

What they do:

Assist lawyers in conducting research, writing drafts and reports, and maintaining files

Employment, 2022

354,300

Projected employment, 2032

369,100

4Radiologic and MRI Technologist


Industries with the highest levels of employment in Radiologic and MRI Technologists, Postsecondary, 2022:

IndustryEmploymentAnnual mean wage 
General Medical and Surgical Hospitals125,430 $71,260 
Offices of Physicians 40,390 $62,220 
Medical and Diagnostic Laboratories 16,060 $70,460 
Outpatient Care Centers 15,050 $81,530 
Federal Executive Branch (OEWS Designation) 5,980 $78,160 

What they do:

Perform diagnostic tests on patients with equipment such as magnetic resonance imaging (MRI) scanners; adjust and maintain equipment

Employment, 2022

264,100

Projected employment, 2031

279,600

5Dental Hygienist


Industries with the highest levels of employment of Dental Hygienists, 2022:

IndustryEmploymentAnnual mean wage 
Offices of Dentists 203,330$85,110
Employment Services 2,630$88,670
Offices of Physicians 2,080$77,070
Outpatient Care Centers 1,850$86,580
Federal Executive Branch (OEWS Designation) 870$69,450

What they do:

Clean and polish teeth, look for dental disease, educate patients about oral health

Employment, 2022

219,400

Projected employment, 2032

235,700

6Physical Therapist Assistant/Aide


Industries with the highest levels of employment in Physical Therapist Assistants and Aides, 2022:

IndustryEmploymentAnnual mean wage 
Offices of Other Health Practitioners 44,900 $59,970 
General Medical and Surgical Hospitals 17,640 $63,430 
Home Health Care Services 11,810 $78,360 
Nursing Care Facilities (Skilled Nursing Facilities) 8,950 $72,800 
Offices of Physicians 4,810 $59,310 

Typical entry-level education

Master’s degree in social work

Employment, 2022

145,100

Projected employment, 2032

172,700

7Diagnostic Medical Sonographer


Diagnostic Medical Sonographer

IndustryEmploymentAnnual mean wage 
General Medical and Surgical Hospitals 45,770 $84,340 
Offices of Physicians 20,220 $82,890 
Medical and Diagnostic Laboratories 8,510 $78,190 
Outpatient Care Centers 3,240 $113,680 
Employment Services 920 $79,550 

What they do:

Conduct tests and create images using sonography equipment

Employment, 2022

142,800

Projected employment, 2032

156,900

8Respiratory Therapist


Industries with the highest levels of employment in Respiratory Therapists, 2022:

IndustryEmploymentAnnual mean wage 
General Medical and Surgical Hospitals 97,800$74,240 
Specialty (except Psychiatric and Substance Abuse) Hospitals 7,720 $72,600 
Nursing Care Facilities (Skilled Nursing Facilities) 4,950 $69,770 
Employment Services 3,280 $108,330
Professional and Commercial Equipment and Supplies Merchant Wholesalers 2,490 $63,610 

What they do:

Master’s degree from a physician assistant program

Employment, 2022

133,100

Projected employment, 2032

149,800

9Electrical and Electronic Engineering Technologist/Technician


Industries with the highest levels of employment in Veterinary Technologists and Technicians, 2022:

IndustryEmploymentAnnual mean wage 
Veterinary and Photography Services 109,230 $40,300  
Colleges, Universities, and Professional Schools 2,850 $47,680 
Social Advocacy Organizations 2,200 $39,310 
Other Personal Services 1,560 $39,180 
Scientific Research and Development Services 740 $62,030 

What they do:

Aid veterinarians in conducting tests, examining, and caring for animals

Employment, 2022

122,900

Projected employment, 2032

148,100

10Medical Equipment Repairer


Industries with the highest levels of employment in Medical Equipment Repairers, 2022:

IndustryEmploymentAnnual mean wage 
Elementary and Secondary Schools24,070 $63,790 
Electronic and Precision Equipment Repair and Maintenance 10,770 $59,060 
General Medical and Surgical Hospitals 6,630 $71,320 
Rental and leasing services (5322, 5323, and 5324 only) 4,180 $43,500 
Outpatient Care Centers 3,600 $56,280 

What they do:

Repair and maintain medical equipment such as ventilators, anesthesia machines, electric wheelchairs, and hospital beds

Employment, 2022

66,400

Projected employment, 2032

75,100

 

 

 

 

 

 

 

 

Source: https://www.bls.gov/

Based on national data, not school-specific information. Conditions in your area may vary. Accessed 8/9/2023. 

 

© Education Connection 2024. All Rights Reserved.

*https://nces.ed.gov/programs/digest/d20/tables/dt20_311.15.asp

Sources for school statistics is the U.S. Department of Education’s National Center for Education Statistics.

Disclosure: EducationDynamics receives compensation for the featured schools on our websites (see “Sponsored Schools” or “Sponsored Listings” or “Sponsored Results”).  So what does this mean for you? Compensation may impact where the Sponsored Schools appear on our websites, including whether they appear as a match through our education matching services tool, the order in which they appear in a listing, and/or their ranking.  Our websites do not provide, nor are they intended to provide, a comprehensive list of all schools (a) in the United States (b) located in a specific geographic area or (c) that offer a particular program of study.  By providing information or agreeing to be contacted by a Sponsored School, you are in no way obligated to apply to or enroll with the school.

This is an offer for educational opportunities, not an offer for nor a guarantee of employment. Students should consult with a representative from the school they select to learn more about career opportunities in that field. Program outcomes vary according to each institution’s specific program curriculum. Financial aid may be available to those who qualify. The financial aid information on this site is for informational and research purposes only and is not an assurance of financial aid.

1 You must apply for a new loan each school year. This approval percentage is based on students with a Sallie Mae undergraduate loan in the 2018/19 school year who were approved when they returned in 2019/20. It does not include the denied applications of students who were ultimately approved in 2019/20.

2 This promotional benefit is provided at no cost to borrowers with new loans that disburse between May 1, 2021 and April 30, 2022. Borrowers are not eligible to activate the benefit until July 1, 2021. Borrowers who reside in, attend school in, or borrow for a student attending school in Maine are not eligible for this benefit. Chegg Study® offers expert Q&A where students can submit up to 20 questions per month. No cash value. Terms and Conditions apply. Please visit http://www.chegg.com/legal/smtermsandconditions for complete details. This offer expires one year after issuance.

Sponsored Results

Study anywhere. Study any time.

Join the millions earning their degrees online.

7 million undergraduate and graduate students were enrolled in some form of online education in 2019!*

X