Get a Graduate-Degree Job That Pays More Than $100K

Earning an advanced degree in law, business, or engineering can boost your paycheck.

March 15, 2011 RSS Feed Print

If you choose to go to graduate school, chances are you're looking to pursue a career you find fulfilling.

Yet even students who follow their passion likely want those extra years of studying to increase their earning potential. While salaries for workers with graduate degrees are as varied as the degrees themselves, earning an advanced degree in law, business, engineering, or any of the other programs included in our Best Graduate Schools rankings can boost your take-home pay.

[See 7 graduate-degree jobs that pay more than $100K.]

That's assuming you land a job, of course. Finding the right position, much less a high-paying one, can be a challenge in this slowly recovering economy. But some graduate school career centers report students are seeing improvements in the job market this year—welcome news for anyone who will soon have a diploma.

Julie Morton, associate dean of career services at the University of Chicago Booth School of Business, says three-quarters of the school's M.B.A. students who expect to graduate in June have job offers. "That's significantly ahead of where we were a couple of years ago at the height of the recession," she says. "So we've definitely seen marked upticks in firms' appetites."

[For job-hunting advice, visit U.S. News Careers.]

Hoping to increase your earning potential with a graduate degree? Here are a handful of jobs that pay more than $100,000 a year:

Dentist: With four years of dental school under your belt, you could expect to make about $142,000, the median annual salary for dentists in 2009, the Labor Department reports. Dentists who specialize can bank even more. This occupation also has a positive outlook for growth—15 percent between 2008 and 2018, according to the Department—which increases your chances of finding a job when you need one.

Management Consultant: For M.B.A. graduates, advising companies how to be more efficient is a popular way to make a living. At IBM, management consultants earn an average of about $114,000 annually, according to Glassdoor.com, a website that offers insight into careers and companies. Deloitte pays an average of nearly $127,000, Glassdoor.com reports.

Petroleum Engineer: Figuring out how to extract oil and gas from deep inside the earth can bring you around $109,000 a year, the median salary for this occupation in 2009, according to the Labor Department. Petroleum engineer positions aren't as common as common as, say, civil engineers, but the Labor Department projects growth in demand for these workers to increase 18 percent between 2008 and 2018.

[See the 50 Best Careers of 2011.]

Family-Practice Doctor: There simply aren't enough doctors to go around; the number of jobs for physicians and surgeons nationwide is expected to increase by 22 percent between 2008 and 2018, the Labor Department reports. And family-practice doctors, or general practitioners, are among those in demand. After medical school and residency, these doctors can bring home an annual salary of $161,000, the median in 2009.

Psychiatrist: Mental-health doctors, too, are in demand, earning about $160,000 annually, the Labor Department reports. Like a physical-wellness doctor, becoming a psychiatrist requires four years of medical school plus a residency.

[Advance your career with an online degree.]

Financial manager: With a master's degree in business administration, finance, or economics, you could find yourself strategizing the long-term financial goals of an organization. These employees earn about $101,000 each year, according to the Labor Department's 2009 figures.

Lawyer: Particularly with law, your salary is likely to reflect the size of firm you work for. The median annual pay for lawyers is $113,000, reports the Labor Department, but Glassdoor.com lists average salaries with top firms in the $175,000-$200,000 range. Though the recession hit the law industry hard, forcing some law schools to rethink their curricula, law can be a money-maker of a profession nonetheless.

Searching for a grad school? Get our complete rankings of Best Graduate Schools.

Tags:
IBM,
University of Chicago,
law school,
careers,
graduate schools,
engineering,
law,
business school,
businesses,
hiring,
doctors

Reader Comments Read all comments (5)

Add Your Thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

If you're thinking about becoming a lawyer (or an engineer, etc.), you should try talking to someone who is a lawyer (or an engineer).

You can find people in different professions who are willing to talk to you and give you advice for free on askapeer.com

Jennifer of NY 11:00PM April 05, 2012

What about you create your own company after earning one of those degrees (from whichever school)? Stop complaining if you have to wait for someone to pay you for your JOB (just over broke) at their created company (they pay you what "they" think you are worth - which y o u a g r e e d w i t h). Just say thank you or you would sound like some in the following story: Matthew 20, 1-16 in http://bible.org/seriespage/workers-vineyard-matthew-201-16. FYI, the school you went to does not make "you", but your strategies with what you get from what you learn, including your GPA, and how capable you are of making a name for yourself (instead of counting on the name of a school, or on the name of a company, unless your family name is the door-opener which someone else – made, the name, before you could so you can ride free – but remember you have the right to change your name however and start from scratch!). If the BLS (which compiles the statistics) reports an average salary and that your paycheck is among the low 10%, many in that situation certainly will still go and compare with their friends because they are no reference to themselves: putting the fault on others. Wake up people and get active! If you want to decide what you are worth, YOU make it happen.

max of NY 10:14PM November 29, 2011

My friends in the graduating classes of 2009 and 2010 from USC law and Berkeley Boalt and UCLA law are starting off in the high 50s. After tax they are keeping 3,500 USD a month and student loans are $1,600 a month for 25 years. That's at a variable rate which is currently at 4% right now and can go up to 8% when the federal funds rate increases, shifting the minimum monthly to $1,900 a month for 25 years. This article is absurdly misleading for law so i'm thinking the other fields they are talking about are wrong as well. Does anyone know if the people starting off in family practice/ general practitioner are dire straights too?

Kevin Farah of CA 9:24PM June 30, 2011

Grad School Search

advertisement

Knowledge Centers

Looking at grad schools? Find out what you need to know.

The GRE® Tests: Get the Facts

See the list of schools at takethegre.com.

GRE® scores are accepted by business school programs for which of the following:

A. MBA programs

B. Non-MBA master's programs

C. Doctoral programs

D. All of the above

Submit
Answer: D. All of the above

More and more business schools accept GRE® scores for admission to their MBA, non-MBA master's and doctoral programs. See the list of schools.

Parent Question-of-the-Day

What will be your primary resource to help pay for college?
[ View Results ]

Advance your career with an online degree