highest phd salaries

Highest Paying Doctorate Degrees [2024 Guide]

We’ve identified the 25 highest paying doctorate degrees. Compare salaries and job prospects.

Completing a PhD may open up doors in terms of career advancement. Plus, it may not take as long as you think to complete if you enroll in the shortest doctoral programs .

The following list contains the highest paying doctorate degrees along with career outlook and job growth statistics.

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25 Highest Paying Doctorate Degrees

All career statistics and salary data are provided by the U.S. Bureau of Labor Statistics .

Click on the area of study you’re interested in to jump to that section.

Aerospace Engineering

Chemical engineering, pharmacology, business administration, cybersecurity, electrical engineering, data science, biochemistry, information security assurance, biomedical engineering, information technology and computer science, occupational therapy, criminal justice, engineering, organic chemistry.

While all of these industries are growing, some provide better job prospects than others.

• Annual Median Salary (Bureau of Labor Statistics): $208,000
• Job Growth: 4%

One of the more specialized high paying doctorate programs is in immunology. Immunology is the study of disease prevention and immunity. Due to the specialized nature of the study here, jobs are typically well paid and much more specific.

A person who has studied immunology may be expected to work in research or academia but is also likely to land high-paying roles within the medical industry and at hospitals. The demand for this area of expertise is also rising faster than the average job growth, meaning there should be plenty of opportunities for graduates.

A PhD in immunology is a lot of hard work and is, therefore, suited to someone who already has considerable experience working in the medical industry. Those with an academic background in medicine should consider applying for an immunology program.

• Annual Median Salary (Bureau of Labor Statistics): $129,850
• Job Growth: 7%

Of the three main sciences, physics can be the one that is the most fruitful for taking a doctorate. People who take a PhD in physics are likely to land themselves a position as either a researcher or a professor.

There are also several other high paying positions that are possible for someone who takes this career path, including more specialized roles or becoming lead physicists and consultants.

Physics is also one of the job markets that is predicted to see a considerable amount of growth for the next 10 years. Pursuing a physics doctorate can be perfect for someone who already has experience in physics or someone who already has either a bachelor’s or master’s degree in the subject combined with some practical experience.

• Annual Median Salary (Bureau of Labor Statistics): $118,610
• Job Growth: 3%

Aerospace engineering is a field that would likely attract those who already have a background in either science or engineering. It is one of the fastest growing industries in the world, and demand for jobs is expected to increase as the years roll by. So the length it takes to get a PhD should be taken into consideration so you can quickly enter this field during its booming growth.

The doctorate focuses on the engineering of various different types of spacecraft and can be incredibly demanding. According to the Bureau of Labor Statistics, the salary potential for this field is as high as $171,220.

• Annual Median Salary (Bureau of Labor Statistics): $110,860

Math may not be the glamorous subject to study at doctorate level, but it can open up a wide range of potentially lucrative career options.

Math can allow students to work in various sectors of the economy and business, and they may also work in research or as a math lecturer or professor at a top university.

• Annual Median Salary (Bureau of Labor Statistics): $109,760
• Job Growth: 5%

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.

Earning this doctorate can open up chief executive roles within companies and roles like chief operations officer and supply chain management. It may also lead to regional and national management roles.

• Annual Median Salary (Bureau of Labor Statistics): $108,540

Another engineering-based field that presents doctorate students with some big money career options is chemical engineering. The field combines a number of different disciplines, including all of the sciences, math, and statistics, as well as engineering.

It is a complex doctorate to take, but the rewards may be worth the effort, with the Bureau of Labor Statistics showing salaries up to $168,960 available in this field.

• Annual Median Salary (Bureau of Labor Statistics): $108,350
• Job Growth: 14%

One of the most popular PhDs to take is in economics. Economics is a social science that studies and theories about the production and consumption of goods and the effect that this has on society and the economy.

Taking a PhD in economics may open up a lot of doors. Working in the financial sector is usually lucrative, and a doctorate in economics can help give you an edge over competitors in what is a notoriously feisty industry. Top earners can make around $198,230 per year.

Economics analysis is a skill that is highly sought after, especially in the medical, legal, and education sectors.

While on the face of it, some people may believe that studying economics leaves you consigned to an office for the majority of your working life, the reality is that it can open up a lot of doors in a lot of different sectors. It may also provide you with a lot of travel opportunities and chances to meet new people.

A doctorate in economics may be perfect for someone who already has some experience in the field or for someone who has studied economics, math, finance, or business to a higher level and wants to take the next step in their academic and professional career.

• Annual Median Salary (Bureau of Labor Statistics): $107,270
• Job Growth: 6%

Pharmacology is big business these days, and taking a doctorate in the subject may lead to some lucrative opportunities. It is expected that someone who wants to study pharmacology will have a background in the subject with a master’s degree being heavily preferred.

There are a lot of pre-requisites for getting onto a pharmacology doctorate program, but the Bureau of Labor Statistics is showing salaries going as high as $164,980.

• Annual Median Salary (Bureau of Labor Statistics): $103,650

Getting a doctorate in business administration can open up a lot of doors. Students who end up taking their doctorate in business administration often end up working as leading and chief executives as well as entrepreneurs and financial advisors.

According to the Bureau of Labor Statistics, salaries for someone with a doctorate in this field can be as high as $208,000. It can be ideal for someone who has a background in business or economics who wants to take the next step in their career.

• Annual Median Salary (Bureau of Labor Statistics): $103,590
• Job Growth: 31%

As the world of IT continues to grow, so does the demand for more and more cybersecurity. The field is one of the fastest-growing in the world, and getting a doctorate in the subject may land you a range of different high paying jobs.

According to the Bureau of Labor Statistics, roles like IT managers can offer doctorates a salary of up to $208,000. This sector is also constantly growing, and as such, the demand and the salaries should continue to grow as time passes. Some colleges even offer short certificate programs that pay well , providing a faster route to lucrative careers for those seeking quicker options.

• Annual Median Salary (Bureau of Labor Statistics): $100,830

When it comes to job demand, electrical engineering is one of the safest career paths to go down. Electrical engineering has a huge impact on our day-to-day lives.

Most of our day-to-day electrical appliances exist as a result of electrical engineering, and taking a doctorate in the field may open the door to some pretty lucrative research and project management positions. It is advised that someone who takes a PhD in electrical engineering already have practical experience in the field.

• Annual Median Salary (Bureau of Labor Statistics): $98,490

A doctorate in education can open up a lot of different career options in that sector. A lot of doctors of education end up working in either research or in top positions at schools as principals and superintendents.

According to the Bureau of Labor Statistics, the average salary for someone working in education administration with a doctorate is around the $199,400 mark. A number of doctor of education programs do not require a dissertation.

• Annual Median Salary (Bureau of Labor Statistics): $98,230

Data is quickly becoming the most valuable commodity on the planet, and as such, the demand for data specialists and researchers is growing at an impressive rate.

Data science doctorates offer a gateway into these positions, and they usually come with some pretty high salaries. According to the U.S. Bureau of Labor Statistics, salary for a data scientist can go as high as $165,230, and with this field ever-expanding, the demand for these positions should continue to increase.

• Annual Median Salary (Bureau of Labor Statistics): $94,270

Biochemists study the chemical and physical makeup of living organisms. Due to the specialized nature of the subject, research positions in this sector typically pay incredibly well.

According to the Bureau of Labor Statistics, biochemist doctorates can start out at around $67,710 but can increase up to $169,860 or more. This doctorate may suit someone with a background in chemistry or some other science discipline.

• Annual Median Salary (Bureau of Labor Statistics): $92,870

Information assurance is a new discipline that has been created as a result of the times we live in. Information assurance is effectively another type of cybersecurity that is designed to protect people’s data from third parties and other potentially dangerous sources.

A background in any sort of computer or data-related field can be ideal for getting onto an information assurance course. Due to the increasing demand for data protection, jobs in this sector can be particularly lucrative, and the demand for these jobs is expected to increase as time rolls on.

The demand for experts in this industry is very high and is only predicted to grow over the next decade.

• Annual Median Salary (Bureau of Labor Statistics): $92,620

Biomedical engineering is becoming an incredibly popular field of research. It is an ever-growing and developing industry, and as such, the demand for expertise in the area is on the rise.

Getting a PhD in biomedical engineering is likely to secure you a lucrative research job for a university or a job in a hospital or the medical industry. According to the Bureau of Labor Statistics, an average salary in this field for a senior position ranges from $127,980 to $169,860.

• Annual Median Salary (Bureau of Labor Statistics): $92,270
• Job Growth: 35%

Statistics is one of the most versatile doctorates available today. Statistics are used in a wide range of different sectors, including finance, research, business, health care, government, and many others.

A doctorate in statistics can be ideal for someone who has a background in math or business. According to the Bureau of Labor Statistics, the top salary for someone working in statistics can be as high as $150,840.

• Annual Median Salary (Bureau of Labor Statistics): $91,250
• Job Growth: 11%

The world of IT is constantly growing, and as it does, the demand for experts grows with it. Getting a doctorate in information technology and computer science can be an incredibly lucrative career move, with the Bureau of Labor Statistics showing top earners taking home as high as $208,00.

The jobs that can be accessed, such as chief technology officers or research roles within the industry, tend to be incredibly well-paid. This doctorate attracts people who have backgrounds in IT-related fields, such as computer science or computer programming.

• Annual Median Salary (Bureau of Labor Statistics): $86,280
• Job Growth: 16%

For someone who already has experience working in occupational therapy, earning a doctorate in the field can be a huge benefit. Not only can it open the door for them to move up in the industry, but it can also expand their knowledge of the subject area.

It can provide them with theory-based research while also working on their leadership and management skills. According to the Bureau of Labor Statistics, occupational therapists holding a doctorate degree may reach a salary as high as $122,670.

The job growth for this doctorate is also incredibly high, which means it may be an excellent career path to enter in terms of job security.

• Annual Median Salary (Bureau of Labor Statistics): $86,110

The number of career options that are available to someone who has a doctorate in criminal justice is typically vast. Working as a criminologist, a criminal justice researcher, or a federal law agency admin can earn graduates a lot of money.

This course of study is best suited for someone who already has real-world experience working in the criminal justice or law sector.

• Annual Median Salary (Bureau of Labor Statistics): $83,160

Engineering jobs are almost always in demand, and while there are a lot of high paying jobs available for those who have an undergraduate or master’s degree, taking a doctorate in the field can really help you advance your career.

An engineering degree is already one of the highest paying associate degrees , highest paying bachelor degrees , as well as one of the highest paying masters degrees , but the doctorate can be perfect for someone who already has experience working in engineering and wants to take that next step in their career.

A director of engineering job title and other project management positions may offer some very high salaries, about $208,000 or more, according to the Bureau of Labor Statistics.

• Annual Median Salary (Bureau of Labor Statistics): $82,180

With the stigma around mental health finally disappearing, the demand for jobs in psychology is on the rise. While a normal degree or masters in psychology may allow you to get jobs as a psychiatrist or a psychologist, higher-paying positions can become available following a doctorate.

It may also open up roles in research and as a university lecturer in the subject. The doctorate is suited to someone who already has their masters in psychology or who has a significant amount of experience working in the field.

• Annual Median Salary (Bureau of Labor Statistics): $80,790
• Job Growth: 9%

Getting a degree in philosophy can potentially lead to a surprisingly lucrative career in research or working as a lecturer. The doctorate is suited for someone who wants to work in research and who has a background in philosophy or religious studies.

According to the Bureau of Labor Statistics, salaries in this field are around $80,790 per year working in a research role, and up to $180,360 for college professors.

• Annual Median Salary (Bureau of Labor Statistics): $79,300

Organic chemistry, perhaps more than any of the other sciences, can open up a lot of different career options for doctorates. As well as research and academic positions, someone who studies organic chemistry may be able to land a job in a number of different areas, including geology, the pharmaceutical industry, and engineering.

Organic chemistry is a notoriously difficult subject to study, though, so it is vital that you have a solid background in chemistry and some work experience before attempting to join the program. According to the Bureau of Labor Statistics, salaries can go as high as $139,650 in this field.

• Annual Median Salary (Bureau of Labor Statistics): $69,000
• Job Growth: 2%

A doctorate in English can open a range of different academic doors for potential students. A PhD in English may be perfect for someone who already has an academic background in the subject and can also be perfect for qualified teachers and writers looking to take the next step in their career.

According to the Bureau of Labor Statistics, a doctorate in English may qualify you for a potential career in a lecturing position with salaries as high as $180,360, as well as positions within the publishing industry.

What Are the Different Types of Doctorate Degrees?

There are six common types of terminal degrees.

• Doctor of Philosophy (Ph.D.) – Traditionally reserved for those who want to remain in the world of academia, Ph.D. degrees focus on maximizing your ability to impart this advanced knowledge to incoming students. Outside of teaching, Ph.D. candidates also focus on pushing the limits of research and theoretical study within their chosen fields.
• Doctor of Business Administration (DBA) – The DBA experience is all about turning your terminal research in the areas of finance, marketing, accounting, and other related fields into applicable real-world skills. DBA graduates traditionally work in the corporate sector as executive officers and other ranking members of various managerial teams.
• Doctor of Psychology (PsyD) – PsyD students aim to provide clinical services within a wide range of settings, including group, familial, medical, scholastic, and even corporate environments. Earning this degree can give you the power to serve as a practicing clinician or specialized counselor.
• Doctor of Education (EdD) – Capturing an EdD degree is the first step toward a leadership role within the corporate and administrative side of the education field. Working as a principal, district supervisor, or even regional superintendent all fit into the professional path of this degree.
• Doctor of Social Work (DSW) – If you’re interested in educating others on the best practices and leading theories of modern social work and community interaction, then a DSW program could be your option. Holders of this degree research and educate others in the social work field via hands-on training in the classroom and the office, as well as provide answers and guidance in unique or exceptional social issue cases.
• Doctor of Public Health (DPH) – Like most of the other degrees in this review, earning a DPH is all about the desire to lead others in a chosen workplace environment. In this case, that means maintaining residency as an administrator or public health coordinator at a hospital or a similar clinical setting.

The type of doctorate degree you will want to earn depends on your career goals and primarily whether you want to teach the subject or continue working in your field.

Campus or Online: Which One Is Right for You?

It’s no big secret that whichever doctorate route you choose, you will most likely be rewarded for your hard work and research via ample compensation. However, you can make this process a little easier on yourself by focusing on a path – either online or on-campus – that suits your unique needs and daily requirements.

While the appeal of the traditional college experience is the major selling point for the on-campus approach, working on your degree from home is a flexible alternative that can shape and mold itself to your current personal and professional schedule by allowing you to work on your research and coursework at your own pace.

Adding in that these doctorate programs often waive Graduate Record Examination (GRE) minimum scores based on your GPA, as well as reduce or completely remove residency requirements, is further proof that this approach is at least worth your consideration as you plan out your academic future.

Questions Related to Earning a Doctorate

Here are our answers to a few more questions you might have.

How Much Do PhD Graduates Earn?

PhD Graduates make on average close to $100,000, with some job positions paying nearer the $70,000 mark and others going well about $208,000 (Bureau of Labor Statistics).

There may be some who question whether it is worth taking the time to invest in a PhD. Doctorate programs require a lot of time and effort, but studies suggest that PhD students typically earn more and find it easier to attract higher-paying jobs than those with just an undergraduate or a master’s degree.

What Are the Highest Paying Degrees?

A lot of degrees, including online degrees , can lead to well-paying jobs. The more specialized a degree is in a certain field, the higher the chances are that it will be well paying. These degrees currently tend to be those in the engineering sector, as these are the ones that offer the most in-demand jobs.

What Is the Highest Paying PhD Degrees?

Once again, this one will depend on how specialized your PhD is and how in-demand that expertise is at a given time. Engineering PhDs tend to be evergreen, while there is an increasing demand for those with PhDs and knowledge in computer science and other IT related subjects.

PhDs usually provide those who have them with a lot of the highest paying jobs opportunities.

Are There Any Degrees Higher than a PhD?

No, there are no higher degrees than a PhD.

A PhD, also regularly referred to as just a doctorate, is as high as you can go academically. It is a specialized research doctorate that demonstrates a high level of expertise in a field. Most people who obtain their PhD tend to stay on at universities as either a member of a research team or as a lecturer.

Do you need a masters to get a PhD? While many PhD programs require you to earn a masters first, it is possible to earn your PhD without having earned a masters. These are the direct entry bachelor’s to PhD programs offered by some universities.

Getting Your Doctorate Degree

It is important that you take the time to do your research into what doctorate will help your career the most. Once you have done this, you can begin to find the right university and program for you and begin the next step in your academic and professional career.

Now that you understand your career prospects and doctorate opportunities, it’s time to lay out the blueprint for a successful future.

Outside of conducting research on each of the areas that interest you, feel free to use the search tool below to find accredited universities that offer online doctoral programs in your chosen field.

When paired up with the rest of what you’ve learned here, there’s nothing that can stop you from finding the right school – and program of study – to fit your personal and professional goals moving forward.

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Top 10 Highest Paying PhD Degrees in 2024

The highest possible degree you can get in any field is a doctorate or a PhD. Obtaining a doctoral degree can help to greatly further your career, but unfortunately, PhDs aren’t always that easy to earn. The average time a doctoral candidate spends to receive their PhD is anywhere from seven to ten years, and during this time, it also becomes a balancing act.

However, if you manage to earn your PhD, you stand to increase your salary by a significant amount. Chances are, you might also find more opportunities in the future.

The best doctorate degrees are always the ones that you’re passionate about. But, if you find yourself asking, “what should I get my PhD in?,” this list of the highest paying PhDs might just help you out if you’re looking to have a lucrative career.

Looking to get a master’s instead? Check out: Highest Paying Master’s Degrees You Can Get in 2024

Table of Contents

What’s the Best PhD to Get?

If you’re trying to figure out the best-paid PhD, we’ve compiled a list of the top 10 fields with the highest earning potential.

Here are some quick facts:

• The PhD with the highest mid-career salary is in Chemical Engineering , with an average salary of $146,000 . This field also has a pretty good early career, with the average salary sitting at $96,100 .
• When it comes to the highest early career earnings, a PhD in Computer Science  is your best bet since the average salary is $118,000 . This field also has one of the highest $145,000 .

It’s worth noting that your earning potential in any given field can also depend on your location. For example, a doctorate in computer science might earn you more money in San Francisco or other similar tech hubs. The best PhD degrees, at least for earning potential, can depend on where you intend to work.

Here are the best PhD degrees by salary, ranked from lowest to highest.

Of course, the best doctorate degree for you depends on your particular situation. When answering the question “what should I get my PhD in?,” consider your preferences and interests as well as what you want to do in the future.

Top 10 Highest Paying PhD Degrees

The salary figures of the highest-paid PhD degrees depicted in this article were taken from PayScale and BLS.gov , based on data of those with PhDs.

10) Statistics

Salary in Early Career: $105,000

Salary in Mid Career: $131,000

BLS 2020-2030 Job Growth Outlook: 33%, much faster than average

Statisticians collect and analyze data via various statistical methods. They help various businesses, organizations, and even the healthcare industry collect and interpret data so they can solve problems, strategize, and plan ahead.

If you want a career as a statistician, you’ll need to have an undergraduate degree and a master’s degree at a minimum. Having a PhD in Statistics can help increase your earning potential by giving you an advantage over your peers.

The Bureau of Labor and Statistics (BLS) has the job outlook for mathematicians and statisticians growing by a projected 33% rate throughout 2020-2030. According to their website , this is a much faster growth rate than the average growth other fields are experiencing. It appears that statistics  qualifies for the most in-demand PhD degree — on this list, at least. Therefore we can suggest it as the best PhD for jobs, since it’ll be pretty easy to find one once you graduate.

9) Biomedical Engineering

Salary in Early Career: $88,100

Salary in Mid Career: $133,000

BLS 2020-2030 Job Growth Outlook: 6%, on the low end of average

In simple terms, biomedical engineering is the fusion of engineering, medicine, and biology. In particular, in this field, problem-solving techniques and principles used by engineering are applied to the fields of biology and medicine for healthcare. It’s an interdisciplinary field that is growing in popularity over time.

Biomedical engineering is continually evolving thanks to the constant pursuit of knowledge. Because of this, the field continues to grow and can always use people who know theory and are well versed in the life sciences.

Getting a PhD in this field can open up opportunities for you in a variety of areas. You can work in research, at universities, in manufacturing, and even in hospitals. A doctorate is required if you want to work in research or at universities.

The BLS  states that jobs in the biomedical engineering field are projected to grow at a 6% rate over the following seven years.

Salary in Early Career: $93,700

BLS 2020-2030 Job Growth Outlook: 7%, about average

If you’re interested in becoming a physicist, you’ll definitely need a PhD . Most careers for physicists, particularly in research and academia, require you to have a doctoral degree in the field. You can become a research advisor, a physics professor, a (lead) physicist, or a researcher.

According to the BLS , the job outlook for physicists is looking good. The projections are positive, sitting at a 7% increase until 2024, and this rate is on par with the average national growth rate for most occupations.

7) Engineering

Salary in Early Career: $93,600

Salary in Mid Career: $137,000

The world always needs engineers. However, a doctoral degree is not always necessary if you want to work as an engineer — unless, of course, you want to work in research. Research opportunities in the engineering field are only given to PhD candidates or graduates.

You can choose to go for a general track or a specialty such as materials science, mechanical engineering, computer engineering, and chemical engineering. If you have a PhD in engineering , you can take positions like project manager, engineering director, and specialty positions like aerospace engineer or chemical engineer.

6) Physical Chemistry

Salary in Early Career: $73,600

Salary in Mid Career: $138,000

Although the early career salary for PhD graduates of physical chemistry is one of the lowest on this list, it ramps up and is one of the highest-earning on this list in the mid-career.

But what exactly is physical chemistry?

Physical chemistry is a branch of chemistry that applies the theories and techniques of physics to chemical systems (or the study thereof). It’s the study of the behavior of matter on the atomic and molecular levels. Alongside this, physical chemistry is also the study of chemical reactions.

As a physical chemist, you’ll most likely work in labs and research facilities. These research opportunities are awarded only to those with PhDs, and a PhD can also open the door for even more lucrative careers in high-tech or materials science.

The job growth and outlook for physical chemists are below average. However, the average annual wage makes it one of the most profitable ones.

5) Pharmacology

Salary in Early Career: $75,400

Salary in Mid Career: $141,000

BLS 2020-2030 Job Growth Outlook: -2% decline

Pharmacology is the study of drugs and drug actions, or how drugs work within the body. It’s a branch of biology, medicine, and the pharmaceutical sciences. Having a PhD in pharmacology can help you find careers in research.

PhD programs  in this field often build upon other areas, such as biochemistry, molecular bio, cell bio, physiology, and neuroscience. Depending on the track you choose, you can become a researcher in a particular field.

Pharmacology can also lead you to a career as a pharmacist.

The average early career wages for pharmacists are low because it can depend on location or position. For example, pharmacists who work at grocery stores or drug stores often earn less than their entry-level researcher counterparts.

Unfortunately, the current rate of growth for this field is -2%  from 2020-2030. So while there will still be opportunities, it may be harder to find a job.

4) Electrical Engineering

Salary in Early Career: $103,000

Salary in Mid Career: $144,000

If you have a PhD in electrical engineering, you stand to earn quite a good amount of money. Electrical engineering has one of the highest average early-career salaries and one of the highest mid-career to boot.

Electrical Engineering is the application and study of mathematics  and physics combined with electromagnetism, electronics, and electricity. This discipline deals with the research and design of systems, equipment, and devices that use electricity. The results of electrical engineering are seen in day-to-day life. The advances humanity has made in the field have resulted in modern-day staples like the radio and the television.

A doctorate in engineering can help you go into research. If you are more of an idea generator, you can pursue a career in invention and product development. This discipline had plenty of opportunities in various fields such as transportation, computing, manufacturing, and aviation.

3) Computer Science

Salary in Early Career: $118,000

Salary in Mid Career: $145,000

BLS 2020-2030 Job Growth Outlook: 22%, much faster than average

Computer Science is one of the highest-paying fields, both in early and mid-career salary averages. A doctorate in this field allows graduates to become experts in certain computer science subfields. If you want to get a PhD in this field, you’ll need a bachelor’s degree or a master’s in computer science .

If you choose to research in this field, you’ll need a doctorate to qualify for research opportunities. You can also find non-academic careers as an information research scientist, a hardware engineer, programming, and even robotics. It truly comes as no surprise that Computer Science is one of the best-paid PhD programs considering technology continues to progress over the years.

The job outlook for this field is expected to grow by 22%  until 2030, making it one of the best and most in-demand PhDs on this list

2) Organic Chemistry

Salary in Early Career: $83,400

Salary in Mid Career: $146,000

Organic chemistry shares a spot with #1 for the highest-paying PhD, at least for mid-career salaries. However, early wages are lower, which earns this field its #2 spot on this list.

If you want to pursue a career in organic chemistry, earning a PhD in this field can get you a research position, and you may even find yourself leading a research team. However, to qualify for advanced research positions, you’ll need a PhD in the field from an accredited institution whose programs are approved by the ACS or the American Chemical Society.

You may also find jobs in academia as a professor.

1) Chemical Engineering

Salary in Early Career: $96,100

BLS 2020-2030 Job Growth Outlook: 9%, on the high end of average

Sitting at number one on this list is chemical engineering. This branch of engineering combines various fields into one, and you’ll see physics, chemistry, microbiology, biochemistry, and math . This interdisciplinary field helps solve problems related to fuel, food, chemicals, or drugs.

If you earn a PhD in chemical engineering, you may find yourself prepared with expert-level knowledge of the current research findings, practices, and the core fundamentals of the field. After you graduate, you may find opportunities in research and academia and find jobs in areas like biotechnology.

Paying for Your PhD

One obstacle that many doctoral candidates run into is the cost of earning a PhD. If you find yourself wondering how you can afford to pay for your PhD, there are a few common ways you can ease the financial load.

• Student loans  – Many PhD candidates take out student loans to help them afford the tuition and living expenses while working on their doctorate full (or even part) time. You can choose to take out a loan for the full tuition plus living costs, or you can take a smaller loan to cover only a part of the expenses.
• Scholarships, grants, and fellowships  – Savvy PhD candidates seek out scholarships, grants, and fellowship opportunities to help them pay off their tuition and living expenses more easily.

Related: Graduate School Scholarships Guide

• Seek financial support from your employer – Some employers help support their employees’ education by offering partial or full scholarships as they seek higher education. This option may not always be possible, of course, as it depends on the field you are pursuing and whether it has any relation to your current place of employment.
• Teach where you are studying  – One of the most common ways doctoral students earn extra financial support for their studies is through teaching — particularly at the school in which they are studying. Teaching can help students cut down on tuition costs as many educational institutions may offer lower rates for their studies. Some colleges and universities will even offer teaching assistant positions that offer flexibility and enough compensation to cover part of the tuition costs.

Already decided on going to grad school? Here’s everything you need to apply .

Frequently Asked Questions

Which phd has the highest salary.

According to this list of the highest paying PhD degrees, the current most lucrative PhD is Organic Chemistry.

Can PhDs make a lot of money?

Yes, but the road there can be long and winding. There are also many factors that can affect how much you earn, such as your location, industry, position, and even your employer. Additionally, “a lot of money” is relative — what do you consider a lot of money? It may benefit you to check out salary information on the Bureau of Labor Statistics website or on websites like PayScale or Salary.com. Check if the average earnings meet your expectations before making your decision on your PhD.

Is a PhD worth it for salary increases?

The BLS says that in 2020, those with a PhD earned median weekly salaries more than 20%  more than those with just a bachelor’s degree. It can depend on the field and the position, but this does appear to be the case generally. Data also shows that doctorate holders can earn significantly more over their lifetimes. For example, male PhDs earn as much as $1.5 million more  compared to high school graduates. Female PhDs earn $1.1 million more on average.

Do PhDs get paid more than master’s degree holders?

Yes. According to the World Education Services ( WES ), doctorate holders do earn more than those with master’s degrees. However, how much more they earn depends on their field. For example, engineering PhDs only earn 7% more than master’s degree holders in the field. However, in the field of psychology, you can earn up to 33% more if you have a PhD rather than a master’s.

Does job location matter when considering the highest paying doctorate degrees?

In any form of employment, your location matters. In fact, aside from your field or line of work, your location may be the next biggest determinant of your salary. The same is true even if you don’t have a PhD. For example, if you work in the field of information technology or computer science, you’ll most likely have a higher salary in places like San Francisco or Seattle.

You’ll likely find plenty of PhDs in some of the most lucrative industries in a certain city or state. IT and Computer Science PhD holders will often find the highest-paying opportunities in tech hubs  around the country. Geologists will find the highest-paying work in areas rich in natural resources. Researchers, on the other hand, will likely find the best-paying work in areas with research universities and institutions.

Many of the highest-earning jobs for PhDs are located in cities or states where their specific industry is highly supported.

Are there any degrees higher than a PhD?

Nope! The PhD, also known as the doctorate or doctoral degree, is the highest possible academic degree you can earn. PhDs are specialized degrees often earned through research. They demonstrate an extremely high level of understanding of the subject and expertise in your field. A lot of people who earn their PhD usually go on to stay in academia to teach or continue their research.

Choosing the Best Doctoral Degrees

It’s not always about answering the question, “What’s the highest paying PhD?” In the end, choosing the best doctoral degree for you comes down to a matter of preference and interest.

Earning a PhD is seldom easy — but with hard work, you can set yourself up for a bright future ahead with a lucrative yet fulfilling career.

Chriselle Sy

Chriselle has been a passionate professional content writer for over 10 years. She writes educational content for The Grad Cafe, Productivity Spot, The College Monk, and other digital publications.  When she isn't busy writing, she spends her time streaming video games and learning new skills.

• Chriselle Sy https://blog.thegradcafe.com/author/chriselle-sy/ When to Apply for Grad School: Easy Monthly Timeline [2025-2026]
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• Chriselle Sy https://blog.thegradcafe.com/author/chriselle-sy/ Graduate Certificate vs Degree: What’s the Difference? [2024 Guide]

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Highest-Paying Doctorate Degrees of 2024

Written by Kristen Scatton , Interviews with Blanca Villagomez

Published: September 12, 2024

Compare Doctorate Programs

Obtaining a doctorate can open the door to a wide range of fulfilling and high-paying careers. While doctorate degree programs may take several years to complete, they can drastically boost your earning potential as you join a small pool of experts in your chosen field. According to the Bureau of Labor Statistics , workers with a Doctor of Philosophy (Ph.D.) earn an average weekly salary of $2,109, while those with a professional doctorate (M.D., J.D., etc.) earn $2,206. This increase is significantly more than the average income of workers with a bachelor’s degree ($1,493 per week).

Not all doctorate-level jobs pay the same, though. To help you get as much value as possible from your college education, we’ve reviewed the ten highest-paying occupations that typically require a doctorate for entry-level positions. We also consulted with Blanca Villagomez, a program coordinator and counselor at UC-Irvine, for other factors students should consider when selecting a doctorate program.

Calculating Return on Investment for a Doctoral Degree

Before enrolling in a doctoral degree program,  it’s essential to understand the benefits and risks of earning such a degree.

According to the Bureau of Labor Statistics (BLS), individuals with a doctoral degree earn a median weekly salary of $2,109. While this is more than the median weekly earnings for individuals with a master’s or bachelor’s degree, students must understand the significant cost of earning a doctorate degree.

In most areas of study, before obtaining a doctoral degree, students must first earn a bachelor’s and a master’s degree. This means students may have already invested a considerable amount of money into their education, which can lower their post-doctorate return on investment (ROI)

In its 2023 analysis, “Does College Pay Off?”  the Foundation for Research on Equal Opportunity (FREOPP) reports that 77% of doctoral degree programs lead to a positive ROI, while 23% lead to a negative ROI.

“Despite high costs and long durations, most medical and dental degrees deliver an ROI above $1 million,” says FREOPP’s analysis. “Law school is also a good bet, with a median ROI of $470,000. Longer doesn’t always mean better, though. PhDs and equivalent doctoral degrees have unreliable returns, even in STEM fields. These programs require a long time out of the labor force, and the academic jobs they place graduates often do not pay enough to compensate students for that extended commitment — especially if the program is not fully funded.”

Villagomez reminds students that investing in education isn’t just about money; the time and energy students commit are also important. “It’s not enough to simply attend classes,” she says. Students must also actively pursue opportunities to develop skills and knowledge outside of the classroom in order to stand out to employers in the competitive job market. It’s also crucial for students to recognize that building a successful career takes time and that financial gain is not always linear.”

The Highest-Paying Jobs You Can Get With a Doctorate Degree

Our ranking criteria.

To find the highest-paying doctorate degrees, we used the latest occupational projections data from the Bureau of Labor Statistics. We chose degrees based on their median annual salaries and the types of jobs that can be obtained with them. We also found the top programs for these degrees in the United States to give you a better idea of how you can start your path to your new career.

1. Physician/Surgeon

Median Salary: $239,200+

What They Do: Physicians and surgeons diagnose and treat medical conditions. The day-to-day tasks of a physician typically include examining patients, ordering tests, prescribing medication, and designing treatment plans. Surgeons operate on patients to repair injuries and fight disease. Many physicians and surgeons specialize in a particular area of medicine, such as cardiology, neurology, emergency medicine, or family medicine.

How to Become One: To become a physician or surgeon, you must earn a Doctor of Medicine (M.D.) or Doctor of Osteopathic Medicine (D.O.). These programs require applicants to have a bachelor’s degree and take around four years to complete. After medical school , you’ll need to complete an additional three to seven years of training (depending on your specialty) through a residency at a hospital or clinic. All states require physicians and surgeons to be licensed. While not required to work in this field, board certification will further enhance your credibility and open up more job opportunities.

• Projected Job Growth, 2022-2032: 3%
• Highest-Paying States: Montana, North Dakota, Wyoming, South Carolina, Indiana

Top Academic Programs for Physicians and Surgeons:

Median Salary: $170,910

What They Do: Dentists provide medical services for teeth, gums, and other parts of the mouth. These services often include examining patients and diagnosing dental issues, removing tooth decay and filling cavities, performing root canals, and applying whitening agents. When necessary, dentists administer anesthetics and prescribe medication. Dentists also spend much of their time educating patients about dental hygiene.

How to Become One: After earning your bachelor’s degree, it will take another four years of school to earn a Doctor of Dental Surgery (DDS) or Doctor of Medicine in Dentistry (DMD). You will also need to be licensed to practice as a dentist. Licensure requirements vary by state. In addition to earning your doctorate, you may need to pass the National Board Dental Examination and a state clinical examination.

• Projected Job Growth, 2022-2032: 4%
• Highest-Paying States: Vermont, Maryland, Arizona, Delaware, Texas

Top Academic Programs for Dentists:

3. Physicist

Median Salary: $155,680

What They Do: Physicists study the concepts of space, time, energy, and matter. Their responsibilities may include developing theories, conducting experiments, and designing new scientific equipment and software. They often write academic papers and attend conferences to share their findings. Some physicists are focused on theory, while others work on practical applications of physics in industries such as energy and medicine.

How to Become One: You’ll need to earn a Ph.D. in physics to become qualified for this role. Applicants must have a bachelor’s degree to get into one of these Ph.D. programs, which typically take three to five years to complete. Many physicians start their careers through a postdoctoral fellowship. These temporary positions allow you to work under the supervision of a senior scientist and continue refining your research skills after earning your Ph.D.

• Projected Job Growth, 2022-2032: 5%
• Highest-Paying States: Arizona, New Mexico, Georgia, New Jersey, California

Top Academic Programs for Physicists:

Median Salary: $148,910

What They Do: In jury trials, judges oversee the proceedings to ensure the representatives for both the plaintiff and defendant are following the proper legal procedures. If the defendant is found guilty, they determine the sentencing. Judges may decide cases in other matters, such as civil lawsuits.

How to Become One: A Juris Doctor (J.D.) degree is typically needed for this career path. You likely need extensive experience as a practicing attorney as well. Some judges are elected to their positions, while public officials appoint others. 

• Projected Job Growth, 2022-2032: 2%
• Highest-Paying States: Hawaii, Massachusetts, New York, Connecticut, Nebraska

Top Academic Programs for Judges:

Median Salary: $145,760

What They Do: Lawyers provide advice on legal issues and represent their clients in court. Their work may involve researching and interpreting laws, presenting evidence, performing oral arguments during trials, and preparing documents such as contracts, lawsuits, and wills. Lawyers often specialize in a particular area of the law, such as criminal defense, intellectual property, or environmental issues.

How to Become One: This career path will require you to earn a (J.D.) degree, which takes about seven years of attending college full-time. You will likely need to graduate from a T14 law school to access the most lucrative opportunities in this field. You will also need to pass the bar exam to practice as a lawyer in your state.

• Projected Job Growth, 2022-2032: 8%
• Highest-Paying States: District of Columbia, California, Delaware, New York, Connecticut

Top Academic Programs for Lawyers:

6. Podiatrist

Median Salary: $141,650

What They Do: Podiatrists diagnose and treat medical issues with feet and ankles, including calluses, ingrown toenails, heel spurs, bone fractures, arthritis, and diabetes complications. They examine patients, review X-rays and other medical tests, prescribe medication, and perform surgeries. Podiatrists may work in a hospital or urgent care facility, operate their own private practice, specialize in sports medicine, or focus on academic pursuits such as conducting research and attending conferences.

How to Become One: You must earn a Doctor of Podiatric Medicine (DPM) to work in this field. Most DPM programs require applicants to have a bachelor’s degree, which takes about four years to complete. After earning your DPM, you’ll need to complete a residency program in a hospital or clinic, which will take another few years. You must also become licensed to practice in your state.

• Projected Job Growth, 2022-2032: 1%
• Highest-Paying States: Maryland, Minnesota, New Hampshire, Hawaii, North Carolina

Top Academic Programs for Podiatrists:

7. Pharmacist

Median Salary: $136,030

What They Do: This occupation involves dispensing medications and educating patients about proper drug usage and storage, potential interactions, and side effects. They also spend much of their time dealing with paperwork, including tasks such as managing patient records, keeping track of inventory, and corresponding with insurance companies. In compounding pharmacies, they also mix ingredients to create custom medications.

How to Become One: After graduating high school, aspiring pharmacists typically take six years to earn their Doctor of Pharmacy (Pharm.D.) degree. You’ll also need to intern in a hospital or retail pharmacy. All states require pharmacists to be licensed — the exact requirements for licensure vary by state, but you’ll at least need to pass the North American Pharmacist Licensure Exam (NAPLEX) and a test on pharmacy law.

• Highest-Paying States: California, Alaska, Oregon, Washington, Minnesota

Top Academic Programs for Pharmacists:

8. Optometrist

Median Salary: $131,860

What They Do: Optometrists diagnose and treat vision problems. Their primary responsibilities are performing vision tests, prescribing eyeglasses and contact lenses, and performing minor eye surgeries. It’s important to note that there is a difference between optometrists and ophthalmologists — ophthalmologists often work in a similar role, but they have more medical training and can perform more complex surgeries than optometrists.

How to Become One: Doctor of Optometry (O.D.) degree programs require applicants to have a bachelor’s degree and take around four years to complete. In addition to coursework, these programs include a clinical training that allows you to practice treating patients. You’ll also need to pass a series of National Board of Examiners in Optometry (NBEO) tests and become licensed in your state to practice optometry. 

• Projected Job Growth, 2022-2032: 9%
• Highest-Paying States: North Carolina, Maryland, Kentucky, New Hampshire, Vermont

Top Academic Programs for Optometrists:

9. Astronomer

Median Salary: $127,930

What They Do: Astronomers study celestial bodies such as planets, stars, and black holes. Their work may involve observing distant solar systems and galaxies and developing and testing theories that help explain astronomical phenomena. Astronomers typically work in offices for organizations like universities and federal agencies, occasionally visiting observatories that house ground-based telescopes as needed. Some astronomers work at observatories full-time.

How to Become One: The best degree for this career is a Ph.D. in astronomy or astrophysics. You’ll likely need to complete a postdoctoral research project before you can find work as a full-time professional in this field, which will provide you with two to three years of additional training.

• Highest-Paying States: Massachusetts, Maryland, California, Virginia, Arizona

Top Academic Programs for Astronomers:

10. Law Professor

Median Salary: $127,360

What They Do: Law teachers at the postsecondary level, also known as law professors, develop curricula and provide instruction on topics such as the Constitution, contracts, civil law, criminal law, and legal writing. In addition to teaching, law professors also research legal issues and publish papers to share their findings.

How to Become One: Law professor positions typically require a J.D. or a Ph.D. in law, legal studies, or a similar major. While earning your degree, you should consider working as a graduate teaching assistant to gain some hands-on experience for your future career — this will help you stand out from other candidates when looking for your first job in this field.

• Highest-Paying States: South Carolina, Michigan, Massachusetts, Illinois, Iowa

Top Academic Programs for Law Professors:

Other Factors to Consider When Choosing a Doctorate Program

Employment outlook.

When selecting a doctoral program, students should consider what the employment outlook is like for their area of interest. Even if a field offers high salaries, if employment is projected to experience limited growth or decline in the future, it may not be a good option, as opportunities will become more limited.

“I recommend that students thoroughly research the job market they’re interested in and pay attention to the projected salaries and available career advancement opportunities for their intended major,” Villagomez says.  A key resource for this is the BLS’s Occupational Outlook Handbook , which offers employment projections for hundreds of jobs and career fields.

Although the BLS reports that the unemployment rate for individuals with doctorate degrees is 1.6%, below the national average of 3%, jobs that require a doctorate degree tend to be more specialized, meaning there may be fewer overall opportunities for those roles.

Potential doctoral students should also consider where there are opportunities for individuals with their degree and what the earning potential is for those locations.

Although salaries tend to be higher in urban areas, these locations also typically have a higher cost of living. Students must weigh potential earnings against what it will cost to live in a particular city or region when selecting their doctoral degree program.

Another consideration is whether you want a job that allows you to work remotely, giving you the freedom to live in a more affordable area or move from place to place. This can also impact your choice of doctoral degree, as some jobs are more conducive to remote work than others.

Employability

Many professions, such as physicians, lawyers, and dentists require a doctoral or professional degree. However, there are other career paths for which a master’s or MBA degree may be sufficient. Before enrolling in a doctoral degree program, students should research common education requirements for the types of jobs they’re interested in pursuing, to determine if this level of education is necessary.

“I strongly recommend that students begin by meeting with a college or career counselor to develop an action plan that aligns with their career and educational goals,” Villagomez says. “Working with trained professionals can help alleviate some of the stress and uncertainty that comes with this process.”

Students can also use the BLS’s Occupational Outlook Handbook and job postings on sites like Indeed or ZipRecruiter to learn more about educational requirements for jobs that interest them. Another option is to utilize professional networks to learn more about how others with similar interests and goals worked their way up the professional ladder and if a doctoral degree is a necessary step.

Work-life balance

Students who plan on entering a doctoral degree program often have some professional and life experience, so it’s important to consider other needs and priorities, including work-life balance.

Certain high-paying doctoral degree fields such as physician and lawyer consist of long or irregular hours or stressful working conditions. Students should consider what impact these types of jobs will have on other areas of life, including relationships, health, and hobbies when determining if it’s the correct path.

Establishing what your priorities are in terms of working hours and location, stress levels, flexibility, and room for personal growth and accomplishments can help you determine if a high-paying job is really the right fit for you.

Personal interests and aptitudes

Doctoral programs and the jobs they lead to require a significant commitment of time and energy. programStudents who select a program based solely on salary potential may find themselves in a field for which they’re not well-suited, in terms of interests, personal values and beliefs, skills and natural aptitudes.

“When students are selecting a major, I encourage them to consider what type of work they find fulfilling and aligns with their values,” Villagomez says. Students can use career guides and aptitude tests to help them gain an understanding of what careers might align with their abilities. They can also explore careers related to academic or extracurricular interests and hobbies.

Professional fulfillment can come in many different forms beyond a high salary, and students should consider what is most important to them before deciding which doctoral degree and career path they want to pursue.

Frequently Asked Questions

What is a doctorate degree.

A doctorate is the most advanced degree you can earn in most fields. It serves as proof of your expertise in a specific subject area, as it requires significant time, research, and analysis to obtain.

As mentioned above, there are two types of doctorate degrees: Doctor of Philosophy (Ph.D.) and professional doctorates such as Doctor of Medicine (M.D.) and Juris Doctor (J.D.). A Ph.D. is a research-focused degree; to obtain one, students spend much of their time studying and conducting their own research. Professional doctorates focus on practical applications of skills in real-world scenarios.

Who should pursue a doctorate?

There are generally two main reasons to consider pursuing a doctorate: your ideal job requires it, or you are very passionate about a specific subject.

Remember that a doctorate may take up to seven years to complete, and many high-paying careers only require a bachelor’s or master’s degree. While obtaining a doctorate can be very rewarding, it’s important to consider the significant amount of time, money, and effort you must commit to completing your program.

What doctorate pays the most?

With an average salary of over $239,200, physicians and surgeons make more than any other profession — entering this field will require you to earn a Doctor of Medicine (M.D.) or Doctor of Osteopathic Medicine (D.O.) degree. Several different medical occupations that require a doctorate for entry-level positions, such as dentist, podiatrist, pharmacist, and optometrist, also have exceptionally high salaries.

How much does a doctorate cost?

The total cost to get a doctorate degree varies significantly depending on your university, residency status, chosen discipline, financial aid eligibility, and more. For example, earning an M.D. at an Ivy League school can cost nearly $80,000 per year in tuition and fees alone, while completing a Ph.D. program at a public college may cost less than $20,000 per year. When planning your program path, consult your university’s financial aid office to learn how to get help paying for your doctorate.

Interested in a degree instead?

Learn more about online degrees, their start dates, transferring credits, availability of financial aid, and more by contacting the universities below.

Find A Degree

Ph.D.s That Pay: The 15 Highest Paying Doctoral Degrees

Phd program rankings.

• Fully Funded PhDs in Education
• Doctor of Nursing Education
• Ph.D.: No Application Fees
• No-GRE Online Ph.D. in Psychology
• No-GRE Online Ph.D. Programs
• Fast Online Doctoral (Ph.D. and Ed.D.)
• The Most Affordable Online DBA
• Doctorate in Public Policy/Administration
• Doctor of ABA
• Transitional Doctor of Physical Therapy (DPT)
• Doctorate in Marketing
• ALL Ph.D. Degree Program Rankings

Career Guides

• Acupuncture and Oriental Medicine
• Aerospace Engineering
• Behavioral Health (D.B.H.)
• Chemical Engineering (PhD CE)
• Chemistry (D.Chem.)
• Clinical Nutrition (D.C.N.)
• Speech-Language Pathology (CScD)
• Criminology (D.Crim.)
• Economics (DEc)
• Health Science (D.H.S./D.H.Sci)
• Library Science (D.L.S.)
• Molecular Biology (Phd Mol Biol)
• Occupational Safety and Health (D.O.S.H.)
• Physics (Ph.D. Physics)
• ALL PhD Career Guides

Valuable Resources

• Best Laptops for Ph.D. Students
• Gift Ideas for Ph.D. Students
• Burnout & Chronic Stress
• The Key to Free Grad School
• Ph.D. Guide for International and Domestic Students
• Habits Of Highly Effective Leaders
• Online Doctorate Reputation
• Journals for Ph.D. Students
• Earning a PhD
• Write a Perfect Essay Like a PhD
• Master’s Degree As a Bridge To Ph.D.
• Self-Funding Your PhD
• Importance of Accreditation
• Online Ph.D. Support Groups
• Getting Accepted to an Online Ph.D.
• Common Fears of Ph.D. Students
• Habits of Successful People
• US Doctoral Degrees
• ALL VALUABLE RESOURCES

Frequently Asked Questions

• Why earn a Doctorate Degree?
• What are the Ph.D. Admission Requirements?
• How Much Does a Ph.D. Cost?
• How many years will it take for me to achieve my doctorate degree online?
• Do online doctorate degree programs require campus visits?
• Ph.D. vs. Doctorate
• ALL FREQUENTLY ASKED QUESTIONS
• Highest-Paying Doctoral Degrees
• Famous Ph.D. Theses In History
• Struggles Only a Ph.D. Student Would Understand
• Ph.D. Requiring Residencies
• The World’s Richest Doctors
• Academic Conferences
• Most Popular PhD Degrees
• ALL Ph.D. Highlights

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

The Highest Paying Doctoral 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.

Ph.D. in Statistics

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.

• Average Early Career Salary: $58,310
• Average Mid-Career Earnings: $67,230
• ‘Maximum’ Earnings: $78,760

SEE : DOCTOR OF STATISTICS (PH.D. STAT.) SALARY AND INFORMATION

Ph.D. in Biomedical Engineering

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.

• Average Early Career Earnings: $62,647
• Average Mid-Career Earnings: $70,619
• ‘Maximum’ Earnings: $88,164

SEE: DOCTOR OF BIOMEDICAL ENGINEERING (BME PH.D.) SALARY AND INFORMATION

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.

• Average Early Career Salary: $248,453
• Average Mid-Career Earnings: $276,843
• ‘Maximum’ Earnings: $368,422

SEE: DOCTOR OF IMMUNOLOGY SALARY AND INFORMATION

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.

• Average Early Career Earnings: $112,065
• Average Mid-Career Earnings: $118,979
• ‘Maximum’ Earnings: $133,394

SEE: BEST ONLINE SCHOOLS FOR DOCTOR OF PHARMACY (PHARM.D.)

Ph.D. in Electrical Engineering

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.

• Average Early Career Salary: $73,027
• Average Mid-Career Earnings: $77,006
• ‘Maximum’ Earnings: $88,708

SEE: DOCTOR OF ELECTRICAL ENGINEERING (D.E.E.) SALARY AND INFORMATION

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.

• Average Early Career Earnings: $46,400
• Average Mid-Career Earnings: $79,800
• ‘Maximum’ Earnings: $138,600

SEE: DOCTOR OF CLINICAL PSYCHOLOGY (CLINPSYD) SALARY AND INFORMATION

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.

• Average Early Career Salary: $67,093
• Average Mid-Career Earnings: $74,236
• ‘Maximum’ Earnings: $84,112

SEE: Doctor of Aerospace Engineering (Ph.D. AE) Career Guide: Salary and Degree Info

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.

• Average Early Career Earnings: $69,140
• Average Mid-Career Earnings: $121,830
• ‘Maximum’ Earnings: $174,530

Ph.D. in Chemical Engineering

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.

• Average Early Career Earnings: $75,633
• Average Mid-Career Earnings: $83,381
• ‘Maximum’ Earnings: $99,727

SEE: Doctor of Chemical Engineering (PhD CE) Career Guide: Salary and Info

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.

• Average Early Career Salary: $65,995
• Average Mid-Career Earnings: $71,659
• ‘Maximum’ Earnings: $114,248

SEE: Doctor of Physics (Ph.D. Physics) Career Guide: Salary and Info

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.

• Average Early Career Earnings: $59,968
• Average Mid-Career Earnings: $67,470
• ‘Maximum’ Earnings: $84,061

Ph.D. in Biochemistry & Molecular Biology

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.

• Average Early Career Earnings: $67,506
• Average Mid-Career Earnings: $73,701
• ‘Maximum’ Earnings: $82,048

SEE:  Doctor of Molecular Biology (PhD Mol Biol) Career Guide: Salary and Info

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.

• Average Early Career Earnings: $117,667
• Average Mid-Career Earnings: $130,949
• ‘Maximum’ Earnings: $149,109

SEE: Best Online Doctor of Computer Science Degree Programs

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.

• Average Early Career Earnings: $78,124
• Average Mid-Career Earnings: $93,369
• ‘Maximum’ Earnings: $106,848

SEE:  Doctor of Economics (DEc) Career Guide: Salary and Info

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.

• Average Early Career Earnings: $86,682
• Average Mid-Career Earnings: $96,249
• ‘Maximum’ Earnings: $106,915

SEE:  Doctor of Information Assurance (Ph.D. IA) Career Guide: Salary and Info

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.

Does job location matter when considering the highest-paying doctorate degrees?

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.

Does the industry matter when considering the highest-paying doctorate 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

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PhD Salaries and Lifetime Earnings

PhDs employed across job sectors show impressive earning potential:

“…[T]here is strong evidence that advanced education levels continue to be associated with higher salaries. A study by the Georgetown Center on Education and the Workforce showed that across the fields examined, individuals with a graduate degree earned an average of 38.3% more than those with a bachelor’s degree in the same field. 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 individuals who hold graduate degrees is far lower than for those who hold just an undergraduate degree.” - Pathways Through Graduate School and Into Careers , Council of Graduate Schools (CGS) and Educational Testing Service (ETS), pg. 3.

Average salaries by educational level and degree (data from the US Census Bureau, American Community Survey 2009-2011, courtesy of the Georgetown University Center on Education and the Workforce):

The Bureau of Labor and Statistics reports higher earnings and lower unemployment rates for doctoral degree holders in comparison to those with master’s and bachelor’s degrees:

According to national studies, more education translates not only to higher earnings, but also higher levels of job success and job satisfaction:

“Educational attainment – the number of years a person spends in school – strongly predicts adult earnings, and also predicts health and civic engagement. Moreover, individuals with higher levels of education appear to gain more knowledge and skills on the job than do those with lower levels of education and they are able, to some extent, to transfer what they learn across occupations.” - Education for Life and Work (2012), National Research Council of the National Academies, pg. 66.

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10 Highest Paying PhD Degrees 2024

Find your perfect school.

What are the highest paying Ph.D. degrees? Some of the answers might surprise you.

Key Takeaways :

• The top two highest-paying Ph.D. degrees are Ph.D. in Computer Science (#1) and Ph.D. in Economics (#2).
• The ranking considered the median earnings of the top 10% of wage earners in each field associated with the Ph.D.
• Computer science Ph.D. holders work in cutting-edge research areas like artificial intelligence, data science, and quantum computing.

For this ranking we only considered the highest paying Ph.D./ Doctoral level programs. This means you won’t find lawyers or doctors on this list, because M.D. and law degrees are different from Ph.D.s; while you can earn a Ph.D. in law, it’s not required in order to work in any position at the highest-paying levels of the field. There are, however, areas of the medical field that don’t require M.D. degrees and instead require other kinds of doctoral degrees; these areas were included. For this ranking, we looked at the median earnings of the top 10% of wage earners in each field associated with the Ph.D. in question. While the ranking includes information about job growth rate and the number of jobs projected to be added over the next ten years, the top 10% salary is the only determining factor when deciding the position of each Ph.D. in the ranking. We hope this ranking of the top ten highest paying Ph.D. degrees will help you determine whether or not earning a Ph.D. in one of these fields is the right step for your career.

Featured Programs

Detailing the highest paying doctorate degrees, #1. ph.d. in computer science.

You will often find computer science Ph.D. holders working in cutting-edge computer science research in artificial intelligence, data science, quantum computing, cryptography, programming languages, and robotics. Most people are aware of programmers and roughly what their job entails. Computer science researchers create the languages that programmers use to develop applications. At the core, computer science researchers tend to be devoted to understanding how to solve very specific, complex problems that involving technology and how we use it to automate tasks. You can find high-level computer science researchers running their own companies, working for the government in a variety of contexts, working for private corporations, and teaching and conducting research at just about every major university in the United States. In many cases, they do more than one of those things at the same time.

• Top 10% Salary: $189,780
• 2018-2028 Projected Job Growth Rate: 16%
• 2018-2028 Job Number Projected Growth: 5,200

#2. Ph.D. in Economics

Economics is one of the most ambitious fields of study. It attempts to combine the elements of behavioral science, statistics and probability, game theory, and ethics to understand human behavior, make predictions about market trends, and make recommendations about economic policy in order to solve economic problems. It’s not an easy job. Most of economics involves analyzing historical economics and using that information to create theories which explain the observed behavior, devising experiments to determine whether or not such behavior is reproducible, factoring in issues of cultural differences, and overall, attempting to determine what actions the government can take or not take to improve the economic well-being of society and the individual. Most economists focus on one specific area of economics and collaborate with people who focus on other areas, because the subject is too big for one person to study broadly.

• Top 10% Salary: $185,020
• 2018-2028 Projected Job Growth Rate: 8%
• 2018-2028 Job Number Projected Growth: 1,700

#3. Ph.D. in Nursing

Nursing as a field has continued to grow and expand greatly over the past century or so since modern nursing practices were first established. The two highest-paid types of nurses are nurse practitioners and nurse anesthetists. Nurse practitioners serve as primary care providers and are very similar in the way they function to doctors. They assess patients, develop treatments, prescribe medications, and order labs, all while working independently. Nurse anesthetists administer anesthesia for surgical procedures, and provide patient care at all stages of the surgical process, essentially functioning the same as an anesthesiologist. For these advanced positions you might want to consider one of the affordable online DNP programs we feature in this ranking .

• Top 10% Salary: $184,180
• 2018-2028 Projected Job Growth Rate: 26%
• 2018-2028 Job Number Projected Growth: 62,000

#4. Ph.D. in Pharmacology (Doctor of Pharmacy)

It’s not easy to become a pharmacist. Once you earn your Ph.D., you have to pass the state licensure and law exams. It’s also not a commonly available degree. Out of over 5,000 colleges and universities in the United States, there were only 128 fully accredited Pharm.D. programs accredited by the Accreditation Council for Pharmacy Education. It’s incredibly important to ensure you attend an accredited Pharm.D. program. The Ph.D. typically takes 4 years to finish. However, there are some highly-focused programs that allow high school graduates to earn their bachelor’s and graduate degree/degrees in about six years of intensive full-time study. The most common employers of pharmacists are pharmacies and hospitals, and grocery/retail stores with pharmacies attached or pharmaceuticals departments.

• Top 10% Salary: $162,900
• 2018-2028 Projected Job Growth Rate: 0%
• 2018-2028 Job Number Projected Growth: -100

#5. Chemistry Ph.D.

At its core, chemistry is the study of the substances that make up the world around us. Chemists study, particularly, the interactions of those substances. There are different areas of specialization within chemistry, usually focusing on a specific kind of material or specific applications of materials. These include analytical chemists, forensic chemists, inorganic chemists, medicinal chemists, organic chemists, physical chemists, and theoretical chemists. The work chemists do has an incredible impact on our society, as it is their experimental research that leads to the development of everything from plastics to medicines to pollution control technologies.

• Top 10% Salary: $157,780
• 2018-2028 Projected Job Growth Rate: 4%
• 2018-2028 Job Number Projected Growth: 3,500

#6. Ph.D. in Physics

Most high-level physics jobs are in research, whether in an academic, corporate, or government setting. In many cases, physics research impacts all three of those sectors on some level. In most cases, the practical implications of physics research aren’t clear until years, sometimes decades, or even centuries later. In the case of theoretical physics, it can take decades just to develop the technology required to perform the experiments to test a hypothesis. One of the best examples of the nature of the study of physics is gravity. Sir Isaac Newton developed the theory of gravity centuries ago. And still to this day, little is known about this force. We know it exists, and a little bit about the effects it has on earth and in our solar system. But we know very little about what gravity is, and how and why it works the way it does. There are certainly more concrete areas of physics to focus on than theoretical physics, however. Medical physicists, for instance, tend to work in healthcare, using physics to develop new medical technologies. These technologies vary from radiation therapies to imaging technologies.

• Top 10% Salary: $148,110
• 2018-2028 Projected Job Growth Rate:
• 2018-2028 Job Number Projected Growth:

#7. Engineering Ph.D.

Engineering is certainly one of the highest-paying fields in the world, currently. However in order to prevent this ranking from featuring six or seven engineering degrees, we found data from the Bureau of Labor Statistics that combined the relevant numbers for all engineering fields. The five highest-paying engineering specialties are petroleum engineers, computer hardware engineers, aerospace engineers, nuclear engineers, and electronics engineers. People holding an engineering Ph.D. will often be found working at the top levels of the field in research, consulting, and in executive R&D positions.

• Top 10% Salary: $147,000
• 2018-2028 Job Number Projected Growth: 139,300

#8. Mathematics/Statistics Ph.D.

Mathematicians and statisticians work in an incredibly broad range of fields. Of course, many work in academia, developing new mathematical theories, conducting research, and building upon the work of mathematicians past. But you will also find them in finance, on Wall Street, working on high end computer and artificial intelligence research, cryptography, economics, behavioral sciences, and in the data analysis actuarial sciences and risk assessment.

• Top 10% Salary: $146,770
• 2018-2028 Projected Job Growth Rate: 30%
• 2018-2028 Job Number Projected Growth: 14,400

#9. Ph.D. in Immunology

Immunologists are a highly specialized and focused subset of microbiologists. The salary and job growth rate data we used from the Bureau of Labor Statistics is for microbiologists as a whole, as there is no separate category for immunologists specifically. Immunologists focus on the area of microbiology having to do with human immune systems and their interactions with various microorganisms like bacteria and viruses. Immunologists work primarily in research, often in the development of vaccines. Some immunologists also hold medical degrees, but it is only necessary to have both in very specific situations.

• Top 10% Salary: $134,000
• 2018-2028 Projected Job Growth Rate: 5%
• 2018-2028 Job Number Projected Growth: 1,100

#10. Ph.D. in Psychology

Psychology is a broad field encompassing areas like clinical psychology, developmental psychology, forensic psychology, industrial-organizational psychology, rehabilitation psychology, and school psychology. Psychologists, even those who work in academia, tend to specialize and have practiced, and now teach and conduct research in one of these areas of psychology. The vast majority of psychologists are clinical psychologists, making up 162,000 out of 181,700 psychologists. Clinical psychologists are responsible for the assessment, diagnosis, and treatment of emotional, behavioral, and mental disorders. Clinical psychologists are only permitted to prescribe medication in Idaho, Illinois, Iowa, Louisiana, and New Mexico. In all other states, they tend to work closely with medical professionals to determine appropriate treatment for patients. If you are interested in affordable and convenient programs, we’ve got an article here featuring great online phd in psychology programs .

• Top 10% Salary: $132,070
• 2018-2028 Projected Job Growth Rate: 14%
• 2018-2028 Job Number Projected Growth: 26,100

FAQ on Highest Paying Doctorates

When is a good time to earn my ph.d..

The best answer to this question is when it makes the most sense for you. In many cases, rushing straight through undergraduate, graduate, and postgraduate programs is not the best course of action. It’s often better to earn your master’s or Ph.D. once you have some experience in your field. This is because in many cases, doctoral education is highly individualized. Your learning at this point is mostly driven by where your interests lie, and your research will be determined by questions you want to answer or problems you want to solve. And in many cases, it takes time spent working in a profession for you to determine where your interests lie and what those questions or problems are. For instance, almost every job in engineering can be done by somebody with a master’s degree. Deciding to earn a Ph.D. in engineering should be driven by a specific need or interest.

There are, of course, exceptions, including some of the fields featured in this ranking. Theoretical physicists, economists, and mathematicians, for instance, do highly theoretical work, and the academic setting tends to be the main place they can work to support themselves while conducting their research. Psychologists will often find they want or need a Ph.D. in order to open their own practice.

Does the school I attend for my Ph.D. matter?

It depends. When applying for highly competitive research positions in areas like computer science, physics, economics, or other sciences, a Ph.D. from Stanford or MIT might get you a lot farther than a Ph.D. from a less prestigious school. However, other factors also matter. The quality of your published work, your professional accomplishments, and your aptitude all factor in as well.

For professions like engineering, nursing, and psychology, the quality of the program is still important but the prestige of your university is less of an issue.

How do I pay for my Ph.D.?

There are, generally speaking, three main ways to pay for your Ph.D. program. The first is that the corporation or organization you work for might pay for it. Most companies have tuition assistance programs designed to help employees with the cost of professional development, including earning advanced degrees, especially if the organization you’re working with is conducting research.

The second is to teach at the university where you are earning your degree. Ph.D. students are often also professors. In many cases, this allows them to earn money by teaching while also earning their Ph.D. for either greatly reduced tuition or for free. This is how most people who plan to teach and conduct research in academia pay for their Ph.D. programs.

The third is to pay for it through a combination of institutional and federal financial aid, loans, and out of your own pocket.

Can I do my Ph.D. online?

It depends on the field in which you’re earning your degree. Online Ph.D. programs are pretty rare. They are almost nonexistent in the sciences because earning your Ph.D. in a scientific discipline often requires access to laboratories and specialized equipment in order to conduct your research and practice procedures. Ph.D. programs are more difficult to adapt to the online format because of how highly individualized they tend to be, requiring close collaboration with your advisor. This is one of the reasons they are so rarely offered online. However, online Ph.D. programs are becoming more and more common as colleges and universities find ways to harness technology to solve some of these problems. So if an online Ph.D. is something that interests you, definitely investigate your options thoroughly and you might find one that suits your needs.

Bureau of Labor Statistics Page

Related Resources:

• Doctorate Degree Online
• Cheapest Online PhD in Finance
• Online PhD Marriage and Family Counseling
• Online PhD Organizational Psychology
• Highest Paying Nursing Jobs

This concludes our ranking of the ten highest paying PhD degrees.

Doctorate (PhD) Degree

Doctorate (PhD) Jobs by Salary

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Years of Experience

Gender breakdown for doctorate (phd), job satisfaction, popular companies for doctorate (phd) degree s.

Pay ranges for people with a Doctorate (PhD) degree by employer.

2024 Highest Paying Doctorate Degrees [Jobs & Career Guide]

Are you searching for information about the highest paying doctorate degrees? If so, you’ve come to the right place.

There are nearly endless options when it comes to doctoral programs, and choosing the right one for you will depend on factors like your personal interests and career goals.

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Students who attend doctoral programs often go on to become leaders in their fields, playing a role in expanding on existing research and developing new ideas.

Highest Paying Doctorate Degrees

You can earn your doctorate in almost any area, but salaries tend to differ between fields. Most PhD programs consist of research paired with a final dissertation.

According to the Bureau of Labor Statistics , the following are some of the highest paying doctoral degrees:

• Ph.D. in Aerospace Engineering
• Ph.D. in Physics
• Ph.D. in Computer Science
• Ph.D. in Chemical Engineering
• Ph.D. in Economics
• Ph.D. in Information Assurance
• Ph.D. in Electrical Engineering
• Ph.D. in Biochemistry & Molecular Biology
• Ph.D. in Statistics
• Ph.D. in Biomedical Engineering
• Ph.D. in Pharmacology
• Ph.D. in Engineering
• Ph.D. in Immunology
• Ph.D. in Psychology
• Ph.D. in Organic Chemistry

All of these fields offer plenty of opportunity for growth, a lot of different job prospects, and plenty of job security.

PhD in Aerospace Engineering

Aerospace Engineers Annual Median Pay: $122,270 Job Outlook: 8%

An advanced degree in aerospace engineering is one of the highest paying PhDs. It provides the opportunity for you to build on your science and engineering background by studying aerospace structures and aerodynamic systems.

A large part of your coursework will likely consist of researching a specific topic of your choosing. Many schools also require you to complete and defend a dissertation. Many graduates of a doctoral aerospace engineering program go on to make significant contributions to research and development in their field.

Some choose to become mechanical or industrial engineers, while others pursue a career as postsecondary engineering teachers, sharing what they’ve learned with a new generation.

PhD in Physics

Physicists Annual Median Pay: $152,430 Job Outlook: 9%

During a doctoral program in physics, you will have the chance to conduct research into a specific topic within the field while you develop expertise in advanced physics concepts. This is a mathematics-heavy degree, with courses on subjects like quantum mechanics, computational physics, and electromagnetic physics.

Many physics PhD graduates pursue positions in education, research, management, or development. Some physics professionals teach others what they know as postsecondary professors or conduct research in laboratories or offices. Physicists, for example, often work in labs, exploring the different ways that energy and matter interact and investigating existing scientific theories.

PhD in Computer Science

Computer and Information Research Scientists Annual Median Pay: $131,490 Job Outlook: 22%

A doctorate in computer science is one of the highest paid PhD degrees, and it can help you develop an in-depth understanding of how to apply advanced computer science theories. You will likely take courses that cover topics such as databases, computer systems, and artificial intelligence.

In a world that relies heavily on technology, a PhD in Computer Science can lead to a variety of lucrative careers. Some graduates go on to work as computer research scientists, developing new hardware and making adjustments to old ones. Others use their skills to help companies improve their existing computer systems.

PhD in Chemical Engineering

Chemical Engineer Annual Median Pay: $105,550 Job Outlook: 9%

Most doctoral programs in chemical engineering take a research-based approach toward foundational chemical engineering information.

Like most PhD programs, you will likely be asked to conduct research into a specific area of interest, complete a thesis, and present your findings to a panel for review. Depending on your specialty, a chemical engineering doctorate degree can often prepare you for careers in environmental protection, health and safety, and resource management.

For example, some graduates pursue careers as biotechnologists or chemical engineers, using what they know about living organisms to improve existing medical technology or transform raw materials into effective products.

PhD in Economics

Economists Annual Median Pay: $105,630 Job Outlook: 13%

Doctoral economics candidates receive extensive schooling around econometrics and economic theory. You can also select a specific area of interest on which to focus your research. For example, you might choose to conduct research into production and organizations, antitrust issues and policies, or regulation and industrial policy.

Since a doctoral economics program can leave you with a deep understanding of foundational economic principles, graduates in this field can prove essential to many businesses. Economists, for instance, analyze data and trends and prepare reports that help companies make plans for the future.

PhD in Information Assurance

Computer and Information Systems Managers Annual Median Pay: $159,010 Job Outlook: 11%

This degree falls under the umbrella of information and technology, and it centers around learning how to protect digital information. While earning your PhD in Information Assurance, you will typically cover topics like software engineering, operating systems, and theoretical computer science.

As an information and security analyst, your job would be to protect a company’s computer systems from harm. Because many companies have digital information that they would like to keep confidential and safe from hackers, this doctorate degree might be considered one of the most useful PhD degrees.

Those with a doctorate in this area may go on to work in research or academia. They might also go on to become chief information security officers.

PhD in Electrical Engineering

Electrical and Electronics Engineers Annual Median Pay: $101,780 Job Outlook: 7%

Electrical engineering is concerned with the technology of electricity, such as the design of new systems and equipment. During your time as a PhD student in electrical engineering, you’ll also select an area of focus around which you will conduct your research, such as solid-state devices or wireless communications.

Many graduates of a doctoral program in electrical engineering go on to become electrical engineers, developing and supervising the creation of electrical equipment. Others choose to pursue careers in computer and research science, holding high-paying roles in positions such as machine learning engineers.

PhD in Biochemistry & Molecular Biology

Biochemists and Biophysicists Annual Median Pay: $102,270 Job Outlook: 5%

In a doctoral biochemistry and molecular biology program, you can conduct extensive molecular research driven by hypothesis.

You will likely use both model organisms as well as human specimens in your research, and you can choose to specialize in an area that aligns with your career goals. An advanced degree in this area can prepare you for a variety of careers within the health sciences and biomedical fields.

Some graduates become microbiologists, conducting research into viruses and parasites. Others work as medical scientists, developing new procedures and vaccines. This degree often leads to innovative work that can benefit large communities of people.

PhD in Statistics

Statisticians Annual Median Pay: $95,570 Job Outlook: 35%

During the course of a doctoral program in statistics, you’ll have the opportunity to learn the skills needed to become a leader in statistical research.

This means that you can choose an area to focus your research on, and you’ll have the chance to contribute your findings to the academic community in the form of a dissertation. Students who graduate with their doctorate in statistics often pursue roles in academia. This is also one of the useful degrees for preparing to work in research companies, helping to analyze and interpret data.

PhD in Biomedical Engineering

Bioengineers and Biomedical Engineers Annual Median Pay: $97,410 Job Outlook: 6%

Biomedical engineering combines biology and engineering principles and applies them to medical issues. You can learn how to care for medical equipment, and you may conduct research to develop new equipment as well. After earning your doctorate degree in biomedical engineering, you may qualify for an advanced career in healthcare, research, or academia.

Some graduates choose to pursue biomedical engineering and work to improve the safety and efficacy of various biomedical equipment. Others may choose to become research scientists, conducting experiments and analyzing their findings.

PhD in Pharmacology

Medical Scientists Annual Median Pay: $95,310 Job Outlook: 17%

A doctoral program in pharmacology is intended to prepare you for a job in the pharmacology industry. You can study different drugs and how they affect various bodily systems, and you’ll also explore subjects like human physiology and medical pharmacology.

You can typically enter the field of medical sciences with a doctorate in pharmacology. Some graduates become pharmacologists and use their skills to develop new drugs and conduct further research into how specific drugs react in our bodies.

If you are passionate about educating others, you might pursue a career as a medical writer and publish informational documents about specific drugs.

PhD in Engineering

Architectural and Engineering Managers Annual Median Pay: $152,350 Job Outlook: 4%

A PhD in Engineering program typically starts by asking you to pick a topic of emphasis. Biomedical engineering, electrical and computer engineering, and energy systems are just a few examples of the areas that you might choose to focus on. The positions available to you after graduation will depend on your area of expertise.

If you are interested in transportation, you might consider becoming a civil engineer, designing major infrastructure projects. Maybe would like to combine your understanding of multiple disciplines to come up with innovative solutions to some of our pressing environmental problems. A PhD in Engineering Management is one of the highest paying PhD degrees.

PhD in Immunology

Microbiologists Annual Median Pay: $79,260 Job Outlook: 5%

Students who pursue a doctorate degree in immunology can develop an advanced understanding of the immune system and its role in defense from infection and disease.

Should you choose to earn your PhD in this subject, you will have the opportunity to conduct and contribute research to the world of academic medicine. An advanced understanding of how our immune system functions can be helpful in a variety of medical science fields.

You might want to work in a lab and analyze the results of experiments involving various parasites or pursue a career in a medical office as a medical scientist.

PhD in Psychology

Psychologists Annual Median Pay: $81,040 Job Outlook: 8%

A PhD in Psychology will allow you to choose a specialty within the field on which to concentrate your research and studies. Some concentration options include counseling, school, or forensic psychology.

In each of these areas, you can explore the application of foundational psychology practices in a specific environment. Depending on your concentration, a doctorate in psychology can lead to a variety of career options.

Some graduates open up their own private practices and meet with clients in office settings. Others work as school psychologists, helping to counsel children with mental and behavioral disorders.

PhD in Organic Chemistry

Materials Scientists Annual Median Pay: $100,090 Job Outlook: 4%

A doctorate in organic chemistry is a notoriously rigorous yet rewarding path, and it can provide you the opportunity to take courses and conduct research around organic chemicals. During your studies, you will likely study topics like synthetic organic chemistry, biochemistry, and medicinal chemistry.

A PhD in Organic Chemistry can often lead to jobs in research or academia. Additionally, it can pave the way toward leadership roles, such as laboratory managers or research and development directors.

Different Types of Doctorate Degrees

There are many types of doctorate degrees that you can earn. A solid understanding of your personal career aspirations can help you determine which advanced degree is the right one for your needs.

• Doctor of Business Administration (D.B.A.) : Earning a DBA is strategic for those who are hoping to lead a business one day. You can learn what makes a business successful as well as what can lead it to failure.
• Doctor of Education (Ed.D.) : If you are interested in creating change or pursuing leadership roles within education, then you may want to earn your EdD. You can have the opportunity to use existing research to work through different issues in the world of education, including implementing and analyzing new and existing programs.
• Doctor of Public Health (DrPH) : If your goal is to enter into a leadership role within public health or policy, pursuing your DrPH may be the right path for you. You can examine existing public health systems and learn the skills needed to make improvements and develop new programs.
• Doctor of Social Work (DSW) : A DSW can help prepare you to engage in life-changing work impacting marginalized populations. You can learn how to evaluate different social work programs and implement social change on large and small scales.
• Doctor of Philosophy (Ph.D.) : This degree is one of the most recognizable terminal degrees out there, and it is beneficial for anyone who is eager to contribute research to a specific field. A PhD often leads to a career in academia or research, a strategic choice for anyone hoping to become a professor or an established research scientist.
• Doctor of Theology (Th.D.) : The completion of a ThD can prepare individuals for roles in academia, analyzing and researching religious topics. A ThD is also commonly earned by members of the clergy. You can learn to conduct research around different faith-based subjects and analyze historical religious texts.
• Doctor of Medicine (M.D.) : An MD focuses on applying medical knowledge to help treat patients. After earning this degree and passing a licensure exam, you could be qualified to practice medicine.

Because every doctorate program is unique, it’s beneficial to conduct research into your specific programs of interest before applying.

Accreditation

In order to let applicants know that the educational programs they offer are legitimate, colleges and universities can elect to undergo a review process to become accredited.

Attending a regionally accredited institution is beneficial for several reasons. For starters, it means that the program you attend will meet high academic standards. So, you can be confident that you’re learning the necessary skills for your field of study. Additionally, future employers often look for graduates of accredited programs because they trust the quality of their training and preparation.

You can check if your schools of interest are regionally accredited by visiting the US Department of Education ’s website. 

Financial Aid and Scholarships

You can apply for federal financial aid by filling out the Free Application for Federal Student Aid , commonly referred to as the FAFSA.

The amount of monetary assistance you are eligible for will be determined by factors such as your financial need and your enrollment status. In addition to federal aid, many states offer financial assistance as well. The eligibility requirements differ between states, so it’s necessary to check the specific details for your state of residence.

There are even companies that offer tuition reimbursement as part of their benefits plan. You can ask your employer for information specific to your place of work. Finally, scholarship opportunities are another source of financial aid. These are often offered by universities as well as public and private organizations.

What Is a Doctorate Degree?

A doctorate degree is a term used to describe a myriad of different degrees of the highest academic level. There are two types of doctorate degrees: academic and professional.

An academic doctorate, sometimes called a research doctorate, focuses on contributing new information to your field of study. Doctorate degree titles in this category include Doctor of Philosophy (PhD), Doctor of Education (EdD), and Doctor of Theology (ThD).

A professional doctorate, or an applied doctorate, revolves around learning how to apply theoretical knowledge to real-world scenarios. These include degrees like Doctor of Medicine (MD), Doctor of Optometry (OD), and Doctor of Psychology (PsyD).

Is a PhD a Doctorate Degree?

A PhD is a type of doctorate degree. It stands for Doctor of Philosophy, but it is applicable to degrees in a variety of fields outside of philosophy.

PhD programs are usually research-heavy and focus on producing new knowledge in your field of study. Every university offers their own unique PhD programs, but some common categories include education, business and commerce, engineering, and science.

Can You Get Your Doctorate Without a Masters?

While the traditional path to a doctorate begins with earning your bachelors degree and your masters degree, there are alternate roads to a PhD.

If you are hoping to enroll in a PhD program without a masters degree, you will often be required to hold a bachelor’s degree in a similar field of study. This process generally consists of applying for an MPhil, submitting an outline for your thesis, and beginning your research as a PhD student.

There are now a number of universities that offer PhD without a masters degree. Admissions criteria vary between universities, so it is beneficial to check the doctoral program requirements before applying.

What Are the Highest Paying PhD Jobs?

Earning a PhD can help you qualify for a variety of high-earning careers, depending on your field of expertise. Here are some of the highest paying jobs that require or benefit from a PhD, along with their median annual salaries from the Bureau of Labor Statistics:

• Political Scientists: $122,510
• Economists: $105,630
• Postsecondary Education Administrators: $96,910
• Atmospheric Scientists: $94,570
• Biochemists and Biophysicists: $102,270

While many PhD graduates go on to lucrative careers, holding a terminal degree does not guarantee a specific position or salary.

What Are the Most In Demand PhD Degrees?

While there are benefits to following your passion as you pursue your PhD, it can also be helpful to have an understanding of which degrees are in high demand. According to data from the Bureau of Labor Statistics, here are some in-demand PhD degrees along with related career information:

Although jobs are expanding in these areas, there is still competition to earn positions, and earning a degree does not guarantee employment.

Is a Doctorate Worth It?

Yes, a doctorate is worth it for many professionals. Because doctoral programs are focused intensely on one area of study, candidates often become a contributing voice in their field of expertise. This may lead to fulfilling jobs that can benefit their community and align with their passions.

Employers in many different fields are searching for candidates who have specialized expertise and experience. There’s also projected job growth for management positions as well as academic positions. For instance, the Bureau of Labor Statistics projects 12% job growth for postsecondary teachers over the next ten years, which is faster than average.

Getting Your Doctoral Degree Online

Earning your doctorate can create the opportunity for you to explore your passion, conduct significant research, and become part of an academic community.

Many professionals who complete a doctoral program go on to become leaders in their fields by contributing their unique set of skills and knowledge. Earning a professional doctorate can help you pursue career advancement in your field of choice, while a PhD is strategic for pursuing positions in research and academia.

A number of accredited universities also offer online doctoral programs , allowing you to better balance your studies with other work and life responsibilities. If you are interested in developing advanced expertise in your field, why not start researching accredited doctoral degree programs and learn how to get a PhD online today?

Graduate Journey Resource Center

Discover valuable resources to assist you in your program search and decision-making process.

M.D.-Ph.D. and M.D. Degrees, Salaries and What They Really Cost

Whether you're obtaining a Ph.D. or an M.D. degree in medicine, it is no easy undertaking . Years of intensive study, research and internships yield a degree that not only allows you to put those two little letters in front of your name, but usually comes with an impressive starting salary as well. However, what is the difference between an M.D.-Ph.D. and an M.D.?

The difference between the degrees

Before you compare salaries, you should understand the difference between the degrees themselves. Someone who receives an M.D. is licensed to practice medicine and participate in patient care. Someone who receives an M.D.-Ph.D. works in research and development, such as biomedical research, immunology or biochemistry, etc., but can also practice clinical medicine. A nonmedical Ph.D. can be in just about any subject, including the sciences, and varies as widely in cost and salary as it does in subject matter. For the purposes of this cost and salary comparison, we'll stick to M.D.-Ph.D.'s and M.D.'s.

You also must make sure you compare apples to apples. Before taking salary into consideration, measure other factors, such as the cost of each degree and subsequent school debt , living expenses, and potential stipends and funding offered.

According to the AAMC, the average cost of four years of medical school is $228,006 (that's averaging together public vs. private schools and resident vs. nonresident). Of course, that's not taking into consideration the cost of living and other expenses, which will vary depending on where you go to school, for example, New York City, N.Y. vs. Bloomington, Ind.

While physicians shoulder some of the highest school debt of any profession, they also enjoy some of the highest salaries, which is helpful when they are making mortgage-sized payments for their school loans. The national average for annual physicians' salaries in the U.S. is $209,044. However, not all costs to train a medical doctor fall on the medical student. The costs that a university and society expend on each medical student are fairly exorbitant as training excellent medical professionals is highly valued in this country.

While students pay for medical school, the university hospital foots the bill for the student's residency, which includes expenses such as hospital call rooms, administrative costs and salaries for the student and supervising faculty. For specialties that take longer to train for, the costs are in excess of $1,000,000. Where tax paying citizens come in is that most university hospitals receive federal funding, some of which is used to pay for students' residencies.

M.D.-Ph.D. costs

Falling into the category of medical scientists, M.D.-Ph.D. recipients are trained in both clinical medicine and research. This type of dual degree is ideal for conducting clinical trials, as both intensive research skills and patient care involvement are required. Because this is a dual degree, the time it takes to complete it is considerably longer than the four years for just medical school. An M.D.-Ph.D. typically takes seven to eight years to complete due to the student having to attend both medical and graduate schools.

The major difference between an M.D. and an M.D.-Ph.D. is the cost of tuition. While medical school tuition and costs will run well into six figures over four years, M.D.-Ph.D. students will find that their costs are largely reduced or even eliminated through waivers and stipends.₁ The National Institute of General Medical Sciences currently funds forty-nine M.D.-Ph.D. programs through the Medical Scientist Training Program. 2

Many universities also offer full funding to M.D.-Ph.D. candidates as they leverage the exorbitant cost of educating these students against the expected scientific breakthroughs and accomplishments they'll make in the medical field. The state of health care and the increasing need to study and treat numerous diseases affecting the population have contributed to a faster than average job growth rate for medical scientists. 3

Salary is a different story, as it's very dependent on what type of work the M.D.-Ph.D. pursues. Working in just the scientific research field will yield a median annual salary of $91,510, considerably less than the mid-six-figure salaries of practicing physicians; however, those who practice medicine as well as medical research will see their salaries increase accordingly.

The application process

Both degrees carry a high level of competitiveness, and the application process can be an intensive one. There are no test-optional choices here. MCATHs are a given requirement , so start preparing as soon as you've made the decision to apply to these programs.

Submitting a strong and effective statement of purpose , personal statement and letters of recommendation are critical to getting that coveted acceptance letter from your choice schools. It’s important to keep track of what you've submitted and when, as well as deadlines and communications with program recruiters or advisors.

Choosing your path

Entering the medical field, in any capacity, is a noble and stressfully intensive undertaking. However, the effect you'll have on patients' lives or future treatments and cures for diseases makes the investment of the student, university and government well worth it. Once you've decided which medical career path you want to take, your options will become clearer.

1 MD PhD vs MD: Which is best for you? | BeMo ® (bemoacademicconsulting.com)

2 Medical Scientist Training Program (nih.gov)

3 Medical Scientists: Occupational Outlook Handbook: U.S. Bureau of Labor Statistics (bls.gov)

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Psychologist Salary Info: The 9 Highest Paying Careers

Which psychology jobs pay the best salary?

Psychology careers can offer exciting challenges and personal rewards, but they can also be financially rewarding as well. While psychology can be a high-paying job, you should also recognize that psychology careers and  salaries and yearly earnings can vary greatly. Many students have turned their interest toward some of the highest-paying careers in psychology. 

According to the U.S. Bureau of Labor Statistics, the average median salary for all psychologists was $92,740 as of May 2023. The highest-paying psychologist career salaries were more than $151,880.

While many psychology careers offer higher-than-average yearly salaries, it is important to remember that income depends on various factors, including geographic location, employment sector, educational background, and years of experience.

At a Glance

If you are planning a career in psychology (or thinking about making a career change), you might want to consider some job options with a high earning potential. Some high-paying psychology jobs—such as those in psychiatry, industrial-organizational psychology, and clinical psychology—require advanced education and training, so it's essential to start making an educational plan now rather than later. Keep reading to learn more about the highest-paying psychology careers, the typical salaries for such professions, and the academic requirements for entering these fields.

Psychiatrist

Average Salary:  $256,930 per year

Educational Requirements:  Considered a medical career, psychiatry is significantly tied to the study and application of psychology. Approximately eight years of post-undergraduate study. After earning a bachelor's degree, aspiring psychiatrists must graduate from medical school and then complete a four-year residency.

Psychiatry is one of the highest-paying fields tied to psychology. However, salaries can vary considerably within this field depending on your specialty area , where you are employed, and the work you perform.

Industrial-Organizational Psychologist

Average Salary: $154,380 per year

Educational Requirements: In most cases, a master's degree in psychology is the minimum training required, although having a doctorate degree may be advantageous. While opportunities are available at the master's degree level, earning a doctorate degree in industrial-organizational psychology offers greater opportunities and higher salaries.

Industrial-organizational psychologists use their knowledge of psychology to tackle workplace issues. Increasing worker productivity, selecting the best employees for particular jobs, and developing market research surveys are just a few things that an industrial-organizational psychologist might do.

The Bureau of Labor Statistics reports that I/O psychologists in the scientific research and development industry earned an average annual wage of $169,890 as of May 2023. Those employed at colleges, universities, and professional schools earned an average of $93,490.

According to the Society for Industrial and Organizational Psychology , the average salary for a doctorate-level consultant was $167,000.

Neuropsychologist

Average Salary: $100,000+ per year

Educational Requirements: A doctorate degree in neuropsychology or clinical neuropsychology is needed to work in this field.

Neuropsychologists specialize in the study of the brain and cognitive science. People who work in this field often perform cognitive tests, run brain scans, assess people suffering from brain injury, and study how drugs impact the nervous system. They may work at colleges and universities, hospitals, research centers, mental health clinics, and pharmaceutical labs.

Clinical Psychologist

Average Salary: $96,100 per year

Educational Requirements: In most states, clinical psychologists must have a doctorate degree in psychology. In addition to this education, they must also complete one to two years of supervised residency and pass state licensing exams in order to practice as a licensed clinical psychologist.

Clinical psychologists are trained in assessing, diagnosing, treating, and preventing mental illness. This is also the largest area of employment within psychology. Clinical psychologists work in various settings, including hospitals, mental health clinics, and private practice.

The Occupational Outlook Handbook reports that in May 2019, those employed in individual and family services earned an average of $85,140. Those employed in the offices of other health practitioners earned an average of $100,300 per year.

Engineering Psychologist

Average Salary: $111,368 per year

Educational Requirements: Entry-level positions require a master's degree, but those with a doctorate will find greater employment opportunities and better salaries.

Engineering psychologists work to improve the design of systems, operations, and equipment in order to increase efficiency, improve productivity, and minimize injury. As with other specialty areas of psychology, the area of employment plays a major role in determining salary. Engineering psychologists who work in the private sector earn considerably more than those employed in university settings.

Counseling Psychologist

Average Salary: $96,100 per year

Educational Requirements: A PhD, PsyD , or EdD degree is required to become a counseling psychologist.

Counseling psychologists perform many of the same tasks as clinical psychologists, such as offering psychotherapy and mental health treatment, but they typically work with clients suffering from less severe forms of mental illness.

While mental health is one of the largest areas within counseling psychology, some people in this field opt to conduct research. They also teach university courses or provide vocational counseling.

Forensic Psychologist

Average Salary: $125,000 - $149,999 per year

Educational Requirements: While there are some jobs available with a master's degree, you will typically need a doctorate degree in clinical, counseling, or forensic psychology.

Forensic psychologists deal with psychological issues related to the law. Some of the duties that a professional in this field might perform include developing psychological profiles of criminals, dealing with child custody issues, investigating child abuse, providing expert testimony, preparing witnesses to testify in court, and offering training to law enforcement.

School Psychologist

Average Salary: $84,940 per year

Educational Requirements: Most states require completing a 60-credit school psychology specialist program, which leads to a master's or EdS degree. Approximately 32% of school psychologists hold a PhD , PsyD, or EdD degree.

School psychologists work within the educational system to diagnose and treat behavior and learning problems in children. They often collaborate with other professionals, including teachers, doctors, and parents to help kids overcome social, emotional, behavioral, and academic problems.

According to the Occupational Outlook Handbook published by the U.S. Department of Labor, jobs in this field are expected to grow by approximately 1% over the next decade.

Sports Psychologist

Average Salary:  $60,000 to $80,000 per year

Educational Requirements:  Most jobs require a master's or doctorate degree in sports psychology or in related areas such as clinical or counseling psychology. Sports psychologists  are interested in the psychological components of sports and athletics.

Professionals in this field often focus on topics such as  motivation  and athletic performance. They utilize their knowledge of psychology to help athletes perform better or to help people recover from sports injuries.

While salaries for sports psychologists typically range between $60,000 and $80,000, those working with professional athletes often earn over six figures.

What Psych Career Is Best For You? Take the Quiz

This fast and free psychology careers quiz can help you get a better sense for which kind of psychology career might be the best fit for your personality, career interests, salary needs, and more.

Choosing a career is a big decision, and the salary is just one of many factors you need to consider. Money is an important component, but factors such as job outlook and quality of life are also essential.

So is becoming a psychologist worth it? Only you can decide. Think about how a particular career may suit your personality and goals in life before committing. In the end, the best job for you is the one you will enjoy the most and fulfills your personal and professional needs.

Frequently Asked Questions

While specific salaries vary depending on factors including experience and location, psychiatry tends to be the highest-paying psychology-related career.

They can! However, it is important to recognize that individual salaries vary greatly. According to the U.S. Bureau of Labor Statistics, the median salary for psychologists is $92,740 as of May 2023. However, the lowest paid 10% made less than $52,430 per year. Your salary may depend on your specialty, training, experience, area of employment, and geographic location.

Psychology can be a good career if it is suited to your interests and goals. The field is expected to experience modest growth in the coming year, and there are always opportunities for growth depending on where your interests lie. The growing need for mental health services and an aging population means that there will be a need for trained psychologists.

U.S. Bureau of Labor Statistics. Psychologists: Pay . Occupational Outlook Handbook.

U.S. Bureau of Labor Statistics. Occupational Employment and Wage Statistics, May 2023: 29-1223 Psychiatrists .

Zavlin D, Jubbal KT, Noé JG, Gansbacher B. A comparison of medical education in Germany and the United States: from applying to medical school to the beginnings of residency. Ger Med Sci. 2017;15:Doc15. doi:10.3205/000256

U.S. Bureau of Labor Statistics. Occupational Employment and Wages, May 2023: 19-3032 Industrial-Organizational Psychologists .

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By Kendra Cherry, MSEd Kendra Cherry, MS, is a psychosocial rehabilitation specialist, psychology educator, and author of the "Everything Psychology Book."

Countries offering the highest PhD stipends

As inflation in the UK hits an all-time high in four decades, postgraduate students are searching for institutions with the highest PhD stipend.  The Guardian  reported that the increased cost of living has pushed stipends below the living wage, resulting in some struggling to pay rent and forcing them to work part-time jobs.

In June 2022,  UK Research and Innovation  (UKRI), the UK’s largest single funder, which supports about 105,000 postgraduate research students through seven research councils, announced that the minimum stipend for UKRI-supported students is due to increase by 2.9% for  the 2022-23 academic year .

Students are saying this isn’t enough. In an open letter to UKRI , they request doctoral stipends to be raised with current inflation levels.

At the time of writing, the  Bank of England  reports that the current inflation rate in the UK is at 10.1%, according to the Consumer Price Index. Meanwhile, inflation in Canada has hit an  all-time high  in three decades.

You might be considering whether it is worth pursuing a PhD in the current economic climate. If you are struggling financially, Muhammad Mohsin Ijaz, author of “Is PhD for me”, pens down a few countries that are affordable for postgraduate students to pursue their PhD, using Numbeo to check the living wage of a country. Here are his top recommendations:

The cost of living in a specific country can make or break your decision to pursue a PhD. Source: Thomas Padilla/Cointreau

Four countries with the highest PhD stipend

Average PhD stipend (per annum): US54,935 US dollars

Average living cost, including rent (per annum): US$32,520

Pursuing your PhD in a country regularly ranked with the  best quality of life in the world can be a fulfilling experience. Plus, there are no tuition fees in the Norwegian higher education system  since you are an employee of the university — earning a doctoral salary and associated worker’s rights.

Norway is also strategically located between  Europe and the Arctic , allowing for  specialised research opportunities  like  marine research ,  energy and climate ,  medicine and health ,  food , and many more. There are four types of universities in Norway to pursue your PhD: universities, specialised universities, university colleges, and private specialised universities, as stated by FindAPhd .

Average PhD stipend (per annum):  US$54,636

Average living cost, including rent (per annum):  US$33,960

While students from the European Union or European Economic Area can pursue their PhD at public universities in Denmark for free, this country is also suitable for international postgraduate students. T uition fees for PhD students reportedly range between 6,000 and 16,000 euros per year — which is more affordable than studying in the US, Canada, or Australia.

Furthermore, Denmark’s universities are  top-ranked . This means they are well-equipped and can provide excellent research opportunities for PhD students. Some of these universities include the University of Copenhagen, Aarhus University and the Technical University of Denmark.

Switzerland is home to multiple QS-ranked universities, such as the University of Geneva and the University of Zurich. Source: Fabrice Coffrini/AFP

3. Switzerland

Average PhD stipend (per annum):  US$53,434

Average living cost, including rent (per annum):  US$37,656

When you think about Switzerland, the first thought might be the famous Matterhorn or Lake Geneva — but did you know that 50% of PhD students in Switzerland are international students? There are good reasons for this. Every year, the Swiss Confederation  and  Swiss National Science Foundation  award scholarships to international postgraduate researchers who desire to pursue their PhD in Switzerland.

Pair this with the fact that there are four national languages in Switzerland (French, German, Italian, and Romansch) and you will experience a diverse learning environment.

Average PhD stipend (per annum): US$35,388

Average living cost, including rent (per annum): US$26,148

Like Denmark, Finland charges a tuition fee for international students who enrol at a public university. Fees range from 5,000 to 15,000 euros per year, with the University of Helsinki being the most expensive institution, according to Studyportals .

Alongside a solid infrastructure,   Business Finland reports that the nation has the world’s most advanced 5G test network. The entire country is linked by a comprehensive bus and rail network — making it easy for students to commute daily to classes or explore the city.

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Highest Paying Doctorate Degrees [2024 Guide]

We’ve identified the 25 highest paying doctorate degrees. Compare salaries and job prospects.

Completing a PhD may open up doors in terms of career advancement. Plus, it may not take as long as you think to complete if you enroll in the shortest doctoral programs .

The following list contains the highest paying doctorate degrees along with career outlook and job growth statistics.

Editorial Listing ShortCode:

25 Highest Paying Doctorate Degrees

All career statistics and salary data are provided by the U.S. Bureau of Labor Statistics .

Click on the area of study you’re interested in to jump to that section.

Aerospace Engineering

Chemical engineering, pharmacology, business administration, cybersecurity, electrical engineering, data science, biochemistry, information security assurance, biomedical engineering, information technology and computer science, occupational therapy, criminal justice, engineering, organic chemistry.

While all of these industries are growing, some provide better job prospects than others.

• Annual Median Salary (Bureau of Labor Statistics): $208,000
• Job Growth: 4%

One of the more specialized high paying doctorate programs is in immunology. Immunology is the study of disease prevention and immunity. Due to the specialized nature of the study here, jobs are typically well paid and much more specific.

A person who has studied immunology may be expected to work in research or academia but is also likely to land high-paying roles within the medical industry and at hospitals. The demand for this area of expertise is also rising faster than the average job growth, meaning there should be plenty of opportunities for graduates.

A PhD in immunology is a lot of hard work and is, therefore, suited to someone who already has considerable experience working in the medical industry. Those with an academic background in medicine should consider applying for an immunology program.

• Annual Median Salary (Bureau of Labor Statistics): $129,850
• Job Growth: 7%

Of the three main sciences, physics can be the one that is the most fruitful for taking a doctorate. People who take a PhD in physics are likely to land themselves a position as either a researcher or a professor.

There are also several other high paying positions that are possible for someone who takes this career path, including more specialized roles or becoming lead physicists and consultants.

Physics is also one of the job markets that is predicted to see a considerable amount of growth for the next 10 years. Pursuing a physics doctorate can be perfect for someone who already has experience in physics or someone who already has either a bachelor’s or master’s degree in the subject combined with some practical experience.

• Annual Median Salary (Bureau of Labor Statistics): $118,610
• Job Growth: 3%

Aerospace engineering is a field that would likely attract those who already have a background in either science or engineering. It is one of the fastest growing industries in the world, and demand for jobs is expected to increase as the years roll by. So the length it takes to get a PhD should be taken into consideration so you can quickly enter this field during its booming growth.

The doctorate focuses on the engineering of various different types of spacecraft and can be incredibly demanding. According to the Bureau of Labor Statistics, the salary potential for this field is as high as $171,220.

• Annual Median Salary (Bureau of Labor Statistics): $110,860

Math may not be the glamorous subject to study at doctorate level, but it can open up a wide range of potentially lucrative career options.

Math can allow students to work in various sectors of the economy and business, and they may also work in research or as a math lecturer or professor at a top university.

• Annual Median Salary (Bureau of Labor Statistics): $109,760
• Job Growth: 5%

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.

Earning this doctorate can open up chief executive roles within companies and roles like chief operations officer and supply chain management. It may also lead to regional and national management roles.

• Annual Median Salary (Bureau of Labor Statistics): $108,540

Another engineering-based field that presents doctorate students with some big money career options is chemical engineering. The field combines a number of different disciplines, including all of the sciences, math, and statistics, as well as engineering.

It is a complex doctorate to take, but the rewards may be worth the effort, with the Bureau of Labor Statistics showing salaries up to $168,960 available in this field.

• Annual Median Salary (Bureau of Labor Statistics): $108,350
• Job Growth: 14%

One of the most popular PhDs to take is in economics. Economics is a social science that studies and theories about the production and consumption of goods and the effect that this has on society and the economy.

Taking a PhD in economics may open up a lot of doors. Working in the financial sector is usually lucrative, and a doctorate in economics can help give you an edge over competitors in what is a notoriously feisty industry. Top earners can make around $198,230 per year.

Economics analysis is a skill that is highly sought after, especially in the medical, legal, and education sectors.

While on the face of it, some people may believe that studying economics leaves you consigned to an office for the majority of your working life, the reality is that it can open up a lot of doors in a lot of different sectors. It may also provide you with a lot of travel opportunities and chances to meet new people.

A doctorate in economics may be perfect for someone who already has some experience in the field or for someone who has studied economics, math, finance, or business to a higher level and wants to take the next step in their academic and professional career.

• Annual Median Salary (Bureau of Labor Statistics): $107,270
• Job Growth: 6%

Pharmacology is big business these days, and taking a doctorate in the subject may lead to some lucrative opportunities. It is expected that someone who wants to study pharmacology will have a background in the subject with a master’s degree being heavily preferred.

There are a lot of pre-requisites for getting onto a pharmacology doctorate program, but the Bureau of Labor Statistics is showing salaries going as high as $164,980.

• Annual Median Salary (Bureau of Labor Statistics): $103,650

Getting a doctorate in business administration can open up a lot of doors. Students who end up taking their doctorate in business administration often end up working as leading and chief executives as well as entrepreneurs and financial advisors.

According to the Bureau of Labor Statistics, salaries for someone with a doctorate in this field can be as high as $208,000. It can be ideal for someone who has a background in business or economics who wants to take the next step in their career.

• Annual Median Salary (Bureau of Labor Statistics): $103,590
• Job Growth: 31%

As the world of IT continues to grow, so does the demand for more and more cybersecurity. The field is one of the fastest-growing in the world, and getting a doctorate in the subject may land you a range of different high paying jobs.

According to the Bureau of Labor Statistics, roles like IT managers can offer doctorates a salary of up to $208,000. This sector is also constantly growing, and as such, the demand and the salaries should continue to grow as time passes. Some colleges even offer short certificate programs that pay well , providing a faster route to lucrative careers for those seeking quicker options.

• Annual Median Salary (Bureau of Labor Statistics): $100,830

When it comes to job demand, electrical engineering is one of the safest career paths to go down. Electrical engineering has a huge impact on our day-to-day lives.

Most of our day-to-day electrical appliances exist as a result of electrical engineering, and taking a doctorate in the field may open the door to some pretty lucrative research and project management positions. It is advised that someone who takes a PhD in electrical engineering already have practical experience in the field.

• Annual Median Salary (Bureau of Labor Statistics): $98,490

A doctorate in education can open up a lot of different career options in that sector. A lot of doctors of education end up working in either research or in top positions at schools as principals and superintendents.

According to the Bureau of Labor Statistics, the average salary for someone working in education administration with a doctorate is around the $199,400 mark. A number of doctor of education programs do not require a dissertation.

• Annual Median Salary (Bureau of Labor Statistics): $98,230

Data is quickly becoming the most valuable commodity on the planet, and as such, the demand for data specialists and researchers is growing at an impressive rate.

Data science doctorates offer a gateway into these positions, and they usually come with some pretty high salaries. According to the U.S. Bureau of Labor Statistics, salary for a data scientist can go as high as $165,230, and with this field ever-expanding, the demand for these positions should continue to increase.

• Annual Median Salary (Bureau of Labor Statistics): $94,270

Biochemists study the chemical and physical makeup of living organisms. Due to the specialized nature of the subject, research positions in this sector typically pay incredibly well.

According to the Bureau of Labor Statistics, biochemist doctorates can start out at around $67,710 but can increase up to $169,860 or more. This doctorate may suit someone with a background in chemistry or some other science discipline.

• Annual Median Salary (Bureau of Labor Statistics): $92,870

Information assurance is a new discipline that has been created as a result of the times we live in. Information assurance is effectively another type of cybersecurity that is designed to protect people’s data from third parties and other potentially dangerous sources.

A background in any sort of computer or data-related field can be ideal for getting onto an information assurance course. Due to the increasing demand for data protection, jobs in this sector can be particularly lucrative, and the demand for these jobs is expected to increase as time rolls on.

The demand for experts in this industry is very high and is only predicted to grow over the next decade.

• Annual Median Salary (Bureau of Labor Statistics): $92,620

Biomedical engineering is becoming an incredibly popular field of research. It is an ever-growing and developing industry, and as such, the demand for expertise in the area is on the rise.

Getting a PhD in biomedical engineering is likely to secure you a lucrative research job for a university or a job in a hospital or the medical industry. According to the Bureau of Labor Statistics, an average salary in this field for a senior position ranges from $127,980 to $169,860.

• Annual Median Salary (Bureau of Labor Statistics): $92,270
• Job Growth: 35%

Statistics is one of the most versatile doctorates available today. Statistics are used in a wide range of different sectors, including finance, research, business, health care, government, and many others.

A doctorate in statistics can be ideal for someone who has a background in math or business. According to the Bureau of Labor Statistics, the top salary for someone working in statistics can be as high as $150,840.

• Annual Median Salary (Bureau of Labor Statistics): $91,250
• Job Growth: 11%

The world of IT is constantly growing, and as it does, the demand for experts grows with it. Getting a doctorate in information technology and computer science can be an incredibly lucrative career move, with the Bureau of Labor Statistics showing top earners taking home as high as $208,00.

The jobs that can be accessed, such as chief technology officers or research roles within the industry, tend to be incredibly well-paid. This doctorate attracts people who have backgrounds in IT-related fields, such as computer science or computer programming.

• Annual Median Salary (Bureau of Labor Statistics): $86,280
• Job Growth: 16%

For someone who already has experience working in occupational therapy, earning a doctorate in the field can be a huge benefit. Not only can it open the door for them to move up in the industry, but it can also expand their knowledge of the subject area.

It can provide them with theory-based research while also working on their leadership and management skills. According to the Bureau of Labor Statistics, occupational therapists holding a doctorate degree may reach a salary as high as $122,670.

The job growth for this doctorate is also incredibly high, which means it may be an excellent career path to enter in terms of job security.

• Annual Median Salary (Bureau of Labor Statistics): $86,110

The number of career options that are available to someone who has a doctorate in criminal justice is typically vast. Working as a criminologist, a criminal justice researcher, or a federal law agency admin can earn graduates a lot of money.

This course of study is best suited for someone who already has real-world experience working in the criminal justice or law sector.

• Annual Median Salary (Bureau of Labor Statistics): $83,160

Engineering jobs are almost always in demand, and while there are a lot of high paying jobs available for those who have an undergraduate or master’s degree, taking a doctorate in the field can really help you advance your career.

An engineering degree is already one of the highest paying associate degrees , highest paying bachelor degrees , as well as one of the highest paying masters degrees , but the doctorate can be perfect for someone who already has experience working in engineering and wants to take that next step in their career.

A director of engineering job title and other project management positions may offer some very high salaries, about $208,000 or more, according to the Bureau of Labor Statistics.

• Annual Median Salary (Bureau of Labor Statistics): $82,180

With the stigma around mental health finally disappearing, the demand for jobs in psychology is on the rise. While a normal degree or masters in psychology may allow you to get jobs as a psychiatrist or a psychologist, higher-paying positions can become available following a doctorate.

It may also open up roles in research and as a university lecturer in the subject. The doctorate is suited to someone who already has their masters in psychology or who has a significant amount of experience working in the field.

• Annual Median Salary (Bureau of Labor Statistics): $80,790
• Job Growth: 9%

Getting a degree in philosophy can potentially lead to a surprisingly lucrative career in research or working as a lecturer. The doctorate is suited for someone who wants to work in research and who has a background in philosophy or religious studies.

According to the Bureau of Labor Statistics, salaries in this field are around $80,790 per year working in a research role, and up to $180,360 for college professors.

• Annual Median Salary (Bureau of Labor Statistics): $79,300

Organic chemistry, perhaps more than any of the other sciences, can open up a lot of different career options for doctorates. As well as research and academic positions, someone who studies organic chemistry may be able to land a job in a number of different areas, including geology, the pharmaceutical industry, and engineering.

Organic chemistry is a notoriously difficult subject to study, though, so it is vital that you have a solid background in chemistry and some work experience before attempting to join the program. According to the Bureau of Labor Statistics, salaries can go as high as $139,650 in this field.

• Annual Median Salary (Bureau of Labor Statistics): $69,000
• Job Growth: 2%

A doctorate in English can open a range of different academic doors for potential students. A PhD in English may be perfect for someone who already has an academic background in the subject and can also be perfect for qualified teachers and writers looking to take the next step in their career.

According to the Bureau of Labor Statistics, a doctorate in English may qualify you for a potential career in a lecturing position with salaries as high as $180,360, as well as positions within the publishing industry.

What Are the Different Types of Doctorate Degrees?

There are six common types of terminal degrees.

• Doctor of Philosophy (Ph.D.) – Traditionally reserved for those who want to remain in the world of academia, Ph.D. degrees focus on maximizing your ability to impart this advanced knowledge to incoming students. Outside of teaching, Ph.D. candidates also focus on pushing the limits of research and theoretical study within their chosen fields.
• Doctor of Business Administration (DBA) – The DBA experience is all about turning your terminal research in the areas of finance, marketing, accounting, and other related fields into applicable real-world skills. DBA graduates traditionally work in the corporate sector as executive officers and other ranking members of various managerial teams.
• Doctor of Psychology (PsyD) – PsyD students aim to provide clinical services within a wide range of settings, including group, familial, medical, scholastic, and even corporate environments. Earning this degree can give you the power to serve as a practicing clinician or specialized counselor.
• Doctor of Education (EdD) – Capturing an EdD degree is the first step toward a leadership role within the corporate and administrative side of the education field. Working as a principal, district supervisor, or even regional superintendent all fit into the professional path of this degree.
• Doctor of Social Work (DSW) – If you’re interested in educating others on the best practices and leading theories of modern social work and community interaction, then a DSW program could be your option. Holders of this degree research and educate others in the social work field via hands-on training in the classroom and the office, as well as provide answers and guidance in unique or exceptional social issue cases.
• Doctor of Public Health (DPH) – Like most of the other degrees in this review, earning a DPH is all about the desire to lead others in a chosen workplace environment. In this case, that means maintaining residency as an administrator or public health coordinator at a hospital or a similar clinical setting.

The type of doctorate degree you will want to earn depends on your career goals and primarily whether you want to teach the subject or continue working in your field.

Campus or Online: Which One Is Right for You?

It’s no big secret that whichever doctorate route you choose, you will most likely be rewarded for your hard work and research via ample compensation. However, you can make this process a little easier on yourself by focusing on a path – either online or on-campus – that suits your unique needs and daily requirements.

While the appeal of the traditional college experience is the major selling point for the on-campus approach, working on your degree from home is a flexible alternative that can shape and mold itself to your current personal and professional schedule by allowing you to work on your research and coursework at your own pace.

Adding in that these doctorate programs often waive Graduate Record Examination (GRE) minimum scores based on your GPA, as well as reduce or completely remove residency requirements, is further proof that this approach is at least worth your consideration as you plan out your academic future.

Questions Related to Earning a Doctorate

Here are our answers to a few more questions you might have.

How Much Do PhD Graduates Earn?

PhD Graduates make on average close to $100,000, with some job positions paying nearer the $70,000 mark and others going well about $208,000 (Bureau of Labor Statistics).

There may be some who question whether it is worth taking the time to invest in a PhD. Doctorate programs require a lot of time and effort, but studies suggest that PhD students typically earn more and find it easier to attract higher-paying jobs than those with just an undergraduate or a master’s degree.

What Are the Highest Paying Degrees?

A lot of degrees, including online degrees , can lead to well-paying jobs. The more specialized a degree is in a certain field, the higher the chances are that it will be well paying. These degrees currently tend to be those in the engineering sector, as these are the ones that offer the most in-demand jobs.

What Is the Highest Paying PhD Degrees?

Once again, this one will depend on how specialized your PhD is and how in-demand that expertise is at a given time. Engineering PhDs tend to be evergreen, while there is an increasing demand for those with PhDs and knowledge in computer science and other IT related subjects.

PhDs usually provide those who have them with a lot of the highest paying jobs opportunities.

Are There Any Degrees Higher than a PhD?

No, there are no higher degrees than a PhD.

A PhD, also regularly referred to as just a doctorate, is as high as you can go academically. It is a specialized research doctorate that demonstrates a high level of expertise in a field. Most people who obtain their PhD tend to stay on at universities as either a member of a research team or as a lecturer.

Do you need a masters to get a PhD? While many PhD programs require you to earn a masters first, it is possible to earn your PhD without having earned a masters. These are the direct entry bachelor’s to PhD programs offered by some universities.

Getting Your Doctorate Degree

It is important that you take the time to do your research into what doctorate will help your career the most. Once you have done this, you can begin to find the right university and program for you and begin the next step in your academic and professional career.

Now that you understand your career prospects and doctorate opportunities, it’s time to lay out the blueprint for a successful future.

Outside of conducting research on each of the areas that interest you, feel free to use the search tool below to find accredited universities that offer online doctoral programs in your chosen field.

When paired up with the rest of what you’ve learned here, there’s nothing that can stop you from finding the right school – and program of study – to fit your personal and professional goals moving forward.

Let’s find the perfect program for your goals—just click “Find My Program.”

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The 25 Colleges With The Highest Earning Graduates

Harvey mudd beats harvard as the highest starting salaries go to stem majors. but alumni of all these schools earn six-figure median salaries during their early careers., by jah'i selassie , contributor.

T he choice of a university is often heavily influenced by the prospects for earnings after graduation. After all, if you’re going to spend a ton of money and several years of your life pursuing a degree, you’d like to see a high return on your investment—at least enough to pay back all those student loans .

Those who graduate from Ivy League schools earn more in part because top banking and consulting firms concentrate their recruiting on a small set of schools dominated by the Ivies. Those schools that tilt heavily to majors in STEM—science, technology, engineering and math–also have notably higher earning grads because starting salaries in those fields are higher. According to a survey by the National Association of Colleges and Employers, engineering grads from the class of 2023 were expected to start at an average of $74,405 , while humanities graduates were expected to command just $52,938. Those with business degrees sat in the middle, with expected starting salaries of $62,069.

For our ranking of the 25 colleges with the highest earning graduates, we used data from Payscale and the federal College Scorecard. From Payscale, we looked at median earnings 6 years and 10 years after graduation. From the federal College Scorecard, we pulled median earnings data for graduates 6 years and 10 years after they first enrolled at an institution. Neither data source is perfect. Payscale relies on self-reported survey data, which can result in skewed information—graduates happy with their earnings might be more likely to respond. College Scorecard collects information only for those with federal student loans—not all graduates. Still, we think that averaging those four numbers produces a pretty accurate picture of which schools produce the highest earning early career alumni.

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