Average Master’s Degree Salary – What is the advantage of taking a master’s degree? In terms of average starting salary, this advantage has been shrinking in recent years.
While there is still a salary advantage for students earning a master’s degree, the gap between the average starting salary for graduates earning bachelor’s and master’s degrees is narrowing, according to the results of the NACE Top Destinations for the College Class of 2021 report.
Average Master’s Degree Salary
The survey found that there is currently a 22.5% pay gap between education levels. This is the smallest difference in recent years and is down from 26.1% for the Class of 2020 and from 31.8% for the Class of 2017. (See Figure 1.)
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During this time, average annual salary growth for master’s graduates lagged behind that of students earning bachelor’s degrees. For example, master’s students in the class of 2021 saw their average starting salary increase by 1.1%. However, the average salary for undergraduate students increased by 4.0%.
Key factors behind this narrowing of the average starting wage gap include the competitive job market for college graduates and the shift in how employers evaluate applicants to focus more on skills than degree level.
However, there are some disciplines where the average starting difference is still significant. For example, the average starting salary for both law school (73.5%) and communications technology (65%) exceeded the average undergraduate salary by more than 50%.
The First Destinations for College Class of 2021 report is available at and includes an interactive dashboard. It is the eighth in a row that began with the college class of 2014. Results data collection took place from the exam date until six months after the end of the class year, which ends on June 30. Schools had until 30 December 2021 to collect data from their 2021 applicants. This means all results reported in the study are as of 30 December 2021. Participating institutions reported their data to NACE between 5 January 2021 and 16 May 2021. A total of 293 schools provided information about their 2021 graduates at four levels of study. — associate’s, bachelor’s, master’s and doctoral programs. In total, the graduating classes at these reporting institutions represent approximately 686,000 graduates. Previous course results can be accessed on the NACE website. Among similarly taught and trained occupations, teaching is almost universally the lowest paid occupation. Factoring in hours worked and out-of-pocket expenses, this gap is potentially large.
Differential In Starting Salaries Between Bachelor’s And Master’s Grads Is Diminishing
Teaching is already one of the lowest paid careers. The gap widens when teachers have to use their money to cover classroom costs.
This fact alone leads many teachers to consider the value of earning a master’s degree for teachers. It is usually associated with increased earnings and better long-term career opportunities.
But how much is a master’s degree worth to a teacher? Of course, getting one is a big investment of time and money. Is it worth the time to get one? Will it pay you back in the long run?
The short answer is: Almost certainly yes. But it largely depends on where you plan to teach and for how long. While you should consider pursuing a master’s degree, many other factors come into play when it comes to income and return on investment (ROI).
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We wanted to look at the expected return on earning a master’s degree for teachers (either MAT or MEd in most cases) and help those considering the leap make the decision.
Our analysis of the value of a master’s degree for teachers was based on data found in the National Center for Education Statistics’ 2014 report on elementary and middle school teacher salaries.
Tyler Hakes is the former Director of Marketing at College Raptor. He writes about topics related to college searches, admissions, and financial aid. Always looking to tell good stories about students finding their perfect school.
Join thousands of students and parents learning about finding the right college, admissions secrets, scholarships, financial aid, and more. Average Principal Salary $69,786 To create our salary estimates, we start with data published in publicly available sources such as the U.S. Bureau of Labor Statistics (BLS), Foreign Labor Certification (FLC) Data Center Show more
Master Salary (september 2023)
The average master’s salary in the United States is $69,786. Masters salaries typically range from $38,000 to $127,000 annually. The average hourly rate for Masters is $33.55 per hour. Master’s salary is affected by location, education and experience. Masters earn the highest average salary in Virginia, New Jersey, Texas, West Virginia and Connecticut.
The average master’s salary in Virginia, New Jersey, and Texas is the highest in the United States. The lowest average master’s salary states are Alaska, Louisiana, and Montana.
A master’s degree with 0-2 years of experience earns an average entry-level salary of $40,890. A mid-career accountant with 3-6 years of experience earns an average of $69,786 per year. A senior accountant with 7-12 years of experience enjoys an average annual salary of $91,227.
Masters salaries at Pacific Investment Management Company LLC and AEA Investors are the highest paid in our latest salary estimates. Additionally, average accountant salaries at companies such as Goldman Sachs and North Highland are very competitive.
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Virginia pays the most Masters in the United States, with an average salary of $95,676 per year or $46.00 per hour.
You’ll know if you’re getting paid like a champ if your salary is close to the average salary for the state you live in. For example, if you live in New Jersey, you should be paid close to $93,372 per year. What is the average MBA salary? Well, if you want to get your MBA, you may have a number of potential job opportunities available to you once you graduate from high school. Once you’ve decided what field you want to work in, you can start comparing your potential MBA salary with others in different fields. Depending on your career, your MBA salary may vary. For example, a non-profit executive might earn $59,970 per year
As an HR manager, you may interview and hire employees or consult with senior managers. As companies expand and new businesses are created, HR managers may be needed to implement programs.
Financial managers are responsible for the financial health of organizations. They can work as credit managers who monitor credit limits, monitor outstanding collections and set credit rating criteria.
Online Masters Of Applied Statistics (ms)
As a management analyst, you may travel to meet with clients and assist organizations looking for ways to improve control costs. Management analysts come up with solutions to make organizations more efficient.
Related industries: management, scientific and technical consulting services, federal government except postal services, state and local government except education and hospitals.
Financial analysts provide guidance to individuals and businesses on investment decisions. They may work in large financial centers and travel frequently to meet potential investors.
Top managers work in small and large businesses. They are responsible for the operational activities of an organization and negotiate contracts.
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If you’re wondering about your future MBA job prospects, it’s good to know that people who earn advanced degrees are more likely to get hired than those who only have a bachelor’s degree.
According to the BLS, people who have completed advanced degrees make up a large portion of the workforce in careers such as financial operations, management and business.
MBA specializations are varied, and because these careers are in various industries, salaries can vary. Below are the MBA specialty careers:
Are you interested in engineering or architecture? Architects and engineering managers may work in laboratories, industrial facilities or on construction sites and coordinate activities.
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As a natural sciences manager, you can direct the work of scientists such as chemists, physicists, and biologists. You can oversee activities related to research and development.
Related Industries: Research and development in physics, engineering and life sciences, pharmaceutical and medical manufacturing, colleges, universities and vocational schools.
Computer and information systems managers, or IT managers, help determine the technology needs of organizations. They can implement IT systems to meet the goals of technology companies. Master’s programs in computer science are a relatively new phenomenon, with most having been launched in the last five to seven years. These programs have gained ground on traditional master’s degrees in statistics or computer science, which many computer scientists pursued before full computer science programs were offered. No matter what subject you study, one thing remains true: a master’s degree results in a significant decrease in salary. We took a closer look at Master’s in Computer Science salaries and found: The average Master’s in Computer Science salary after graduation is $126,830$126,830 $126,830 – For entry-level positions, a master’s degree led to an increase of salary of about $5,000 $5,000 $5,000 for mid-$5,000 -career positions, a master’s degree resulted in a salary increase of about $13,000 $13,000 $13,000. In short, a master’s degree, while not required to pursue a career in computer science, can significantly increase career earnings. We took a closer look to compare the Bachelor of Computer Science vs. masters salaries and provided some insight into weighing the pros and cons.
At all career levels, a master’s degree offers a salary boost. However, the pay gap widens significantly between entry level and mid-career
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