IS A PH.D. WORTH IT? EDUCATION AND YOUR INCOME POTENTIAL
If you are considering returning to school to pursue an advanced degree, the likelihood of higher earnings may be one of the most appealing factors – especially for those seeking a Ph.D.
In today’s job market it is important to have an education that has the potential for a more successful career. Some of the highest paying jobs are those that require a post-graduate degree. Evidence supports the notion that those with advanced education degrees have a higher earning potential than those without.
According to indeed.com, average Ph.D. salaries for job postings nationwide are 68% higher than average salaries for all job postings nationwide. Those with higher levels of education tend to face a lower risk of unemployment, greater access to advanced training opportunities and higher average wages. Most workers with doctorate degrees tend to work for stable institutions and thus have a higher level of job security.
The Bureau of Labor Statistics reports that in 2013 doctoral degree holders earned a median weekly salary that was 52% greater than bachelor’s degree holders. According to ehow.com, differences in earnings are a measure of the premium paid for the likelihood of enhanced skills and/or higher productivity.
According to ehow.com, between the first and fourth year after completing the doctorate, graduates can expect to make an average of $65,427. Similarly, from their fifth to ninth year post-graduation, they earn an average of $73,852. Ten to 19 years after graduation, doctorates earn an average of $86,792, which jumps to $102,553 more than 20 years after the completion of their degree.
Obtaining a post-graduate degree provides a great sense of accomplishment and the potential for a more successful career and higher earnings. Post-graduate degrees offer opportunities in some of today’s leading fields including health sciences and higher education – just to name a few. If you want a stable, high-paying job, a post-graduate degree can certainly be worth the investment. Simply put, the higher your educational level, the higher your earning potential.
Find out more about Trident’s Ph.D. programs and what we have to offer!