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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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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.

Editorial Listing ShortCode:

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

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.

• 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 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.

Research Voyage

Research Tips and Infromation

Unlocking PhD Salaries and Opportunities

The pursuit of a PhD represents a pinnacle of academic achievement, epitomizing years of rigorous study, research, and expertise in a specific field. For many, this educational journey is a labour of love, driven by a passion for knowledge and a desire to contribute to the global pool of understanding. However, as one nears the end of this formidable academic odyssey, questions about what lies beyond the ivory tower become increasingly pertinent.

Among the myriad concerns that occupy the mind of a PhD candidate nearing graduation, one that often looms large is the financial aspect. What can one expect in terms of compensation and career opportunities after investing so much in education and research? Understanding the salary landscape for PhD holders is crucial not only for financial planning but also for making informed decisions about the direction of one’s career.

PhD salaries encompass a wide spectrum of earnings based on fields, regions, and industry choices. In academia, postdocs start at around $40,000 while tenured professors can earn $90,000 and above. Private sector salaries often range from $70,000 to well over $150,000, influenced by specialization and experience.

In this article, we delve into the multifaceted world of post-PhD salaries, exploring the diverse factors that influence earnings. From the impact of one’s field of study and geographic location to the varying opportunities within academia, private industry, and public sectors, we aim to provide insights that can assist both current PhD candidates and those navigating their early careers post-doctorate.

Join us on this exploration as we unravel the intricacies of salary expectations for those who have achieved the esteemed PhD, shedding light on the possibilities that await beyond the academic threshold. Through comprehensive analysis and a global perspective, we endeavour to empower individuals to navigate their professional journey with clarity and confidence.

Introduction

How different fields influence phd salary expectations:, how cost of living and job demand in specific regions impact salaries:, variations in phd salary based on working in academia, private sector, government, or non-profit organizations:, typical salary range for postdocs in various fields:, salary expectations for entry-level faculty positions:, salaries increase with experience and tenure:, phd salary ranges in private companies related to different fields of study:, potential salaries in public service or non-profit organizations:, comparing salaries in different countries and regions for phd holders:.

• International Factors Affect PhD Salary - Exchange Rates and Cost of Living:

Salary Comparison Table for PhD Holders

Importance of networking for better job opportunities and salaries:, encouraging ongoing skill development to stay competitive in the job market:, advice on negotiating salaries and benefits effectively:.

• Before We Conclude....

Embarking on the path of a PhD is a significant intellectual and academic commitment, representing a scholarly voyage of deep exploration and expertise acquisition in a specialized area of knowledge. It is a journey marked by tireless research, critical analysis, and the creation of original contributions to the academic community. Graduating with a PhD is a hallmark moment, but it also raises important questions about the practical implications of this significant achievement.

Take, for instance, Dr. Sarah, who recently completed her PhD in Environmental Science. After years of devoted research on sustainable agricultural practices, climate change, and environmental policy, she now finds herself standing at the crossroads of academic and professional life. Like many PhD holders, Sarah is eager to apply her expertise and make a tangible difference in her field, but she is also keenly aware of the financial considerations that come with this next step.

This article seeks to address the crucial and often intricate matter of post-PhD salaries. It aims to unravel the enigma surrounding the financial aspect of life after the doctorate, a subject that is of paramount importance to those who have invested years in pursuit of advanced education. The purpose here is to shed light on the salary expectations that individuals with a PhD can anticipate across various sectors, fields of study, and global locations.

Just like Sarah, countless PhD graduates stand on the verge of a new phase in their careers. Understanding the earning potential, salary ranges, and factors that influence compensation is instrumental in making informed decisions. This article endeavours to provide a comprehensive guide, offering insights into the diverse avenues available for Ph.D. holders, and empowering them to navigate the professional landscape with foresight and financial prudence.

Factors Influencing PhD Salary

The field of study significantly impacts post-PhD salaries. For instance, a PhD holder in Computer Science might find higher-paying opportunities compared to someone in Sociology. This is due to the demand for specific skill sets and expertise in the job market. Let’s consider Dr. Alex, a PhD holder in Artificial Intelligence. As the tech industry continues to expand rapidly, professionals with expertise in AI are in high demand, often commanding lucrative salaries in both academia and the private sector.

Geographical location plays a pivotal role in determining PhD salaries. The cost of living, job demand, and regional economic conditions all influence compensation levels. For example, Dr. Emily, a PhD holder in Economics, might find higher-paying opportunities in urban centres like New York City or London due to the higher cost of living and increased demand for economists in financial hubs.

The industry or sector in which a PhD graduate works also heavily impacts their salary. Those in academia, while contributing to knowledge and education, may generally have different salary expectations compared to their counterparts in the private sector. For instance, Dr. Michael, with a PhD in Business Administration, may choose to work in a corporate role, often leading to higher remuneration and additional benefits compared to a position in a non-profit organization focused on social impact.

PhD Salaries in Academia

Postdoctoral positions are a common starting point for many PhD holders aiming for an academic career. Salaries can vary based on the field and location. For example, Dr. Ahmed, who completed his PhD in Biology and secured a postdoc position at a research institution, can expect a salary range of approximately $40,000 to $60,000 per year. However, in specialized fields like biomedical research, postdocs may earn higher, sometimes up to $70,000 annually.

As a PhD graduate progresses to an assistant professor position, the salary range increases. For instance, Dr. Sarah, who recently transitioned to an assistant professor role in Psychology at a reputable university, could expect a salary between $60,000 to $90,000 annually. This range may vary based on factors such as the university’s prestige, geographic location, and the demand for expertise in the field.

As faculty members gain experience and achieve tenure, their salaries typically increase. Dr. Johnson, who has been a tenured professor in Computer Science for over a decade, might earn a salary ranging from $90,000 to well over $150,000 annually, depending on the university’s profile and the region’s cost of living. Full professors, having extensive experience and research contributions, may even earn higher, especially in renowned institutions or in high-cost-of-living areas.

PhD Salaries Outside Academia

In the private sector, salaries for PhD holders can vary widely based on the industry and field of study. For example, Dr. Michael, who holds a PhD in Data Science, might secure a position in a tech company and command a salary ranging from $90,000 to $120,000 per year, given the high demand for data science expertise. On the other hand, Dr. Laura, with a PhD in Marketing, might find positions in consumer research or advertising agencies, earning a comparable salary range in a different industry.

PhD graduates often find fulfilling opportunities in government agencies or non-profit organizations. In these sectors, salaries may vary based on the role, responsibilities, and level of experience.

For instance, Dr. Patel, with a PhD in Public Health, might join a government health department and earn a salary ranging from $60,000 to $100,000 annually, depending on the specific position and location. Similarly, Dr. Nguyen, with a PhD in Education, could work for a non-profit focused on educational development, earning a salary in the range of $50,000 to $80,000 per year.

International Perspective

Salaries for PhD holders can vary significantly on a global scale. For instance, a PhD holder in Computer Science in the United States might earn an annual salary ranging from $70,000 to $150,000. In contrast, in India, a PhD holder in a similar field may earn a range of approximately $10,000 to $30,000 per year. The variation is influenced by factors such as the country’s economic development, demand for specialized skills, and cost of living.

International Factors Affect PhD Salary – Exchange Rates and Cost of Living:

Exchange rates and cost of living are crucial factors affecting salaries for PhD holders in different countries. Consider Dr. Anderson, a PhD holder in Environmental Engineering. If she relocates from the United Kingdom, where she earns £50,000 annually, to Switzerland, a country with a higher cost of living and strong currency, her equivalent salary might be around CHF 80,000. However, despite the seemingly higher salary, the increased cost of living might offset the apparent financial advantage.

Approximate salary comparison table for PhD holders based on working in academia, private sector, government, or non-profit organizations:

Please note that these figures are approximate and can vary based on several factors including location, experience, specific organization, and field of study.

Tips for Maximizing Salary Potential

Networking is paramount for advancing in any career. Dr. Rodriguez, a PhD holder in Finance, attended industry conferences, where she met professionals and academics. Through these connections, she was introduced to job openings that weren’t publicly advertised. Networking helped her secure a position as a financial consultant with a significantly higher salary than she initially anticipated.

Continuous learning and skill development are essential to stay competitive. Dr. Chen, a PhD holder in Artificial Intelligence, regularly took online courses to enhance his programming and machine learning skills. His dedication to staying updated with the latest technologies made him an attractive candidate for a leading tech company, and he was able to negotiate a higher salary based on his specialized expertise.

Dr. Davis, a PhD holder in Business Administration, stressed the importance of negotiation. When offered a position as a senior researcher in a biotech company, he researched industry salary standards and prepared a compelling case for a higher salary and additional benefits. Through effective negotiation, he secured a salary 15% higher than the initial offer, along with flexible work hours.

Before We Conclude….

Please visit my article category RESEARCH CAREERS for various career opportunities for PhD candidates before and after completion of PhD.

Here’s a tabular format listing prominent companies across various domains along with their respective URLs for PhD related career opportunities:

Please note that URLs and job opportunities may change over time, so it’s advisable to visit the respective company websites for the most up-to-date information on job openings and careers.

In this comprehensive exploration, we have dissected the various dimensions of salary expectations after obtaining a PhD. We started by understanding the factors influencing salaries, both within academia and beyond. From field of study and location to industry choice, these factors play a crucial role in determining one’s earning potential. We then examined the diverse salary landscapes in academia, private industry, government, and non-profit sectors. Furthermore, we emphasized the international perspective, shedding light on how salaries differ on a global scale. Lastly, we provided valuable tips on maximizing salary potential through networking, skill development, and effective negotiation.

Armed with the insights presented in this article, we encourage all aspiring and current PhD candidates to delve deeper into the salary landscapes of their respective fields. Further research, consultations with career advisors, and networking within their communities can provide a clearer picture of what to expect post-PhD. Knowledge is the cornerstone of success, and by acquiring a comprehensive understanding of salary expectations, individuals can confidently steer their career paths towards prosperity and fulfilment.

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PhD, Professor, and Postdoc Salaries in the United States

The United States is home to several of the world’s best universities making it a top destination for international researchers. Here’s a breakdown of the most common American job titles and their associated average annual salaries. All salary statistics in this article are in American Dollars (USD) and are pre-tax.

PhD Student

A Master’s degree is not always required to do a PhD in the US. Several top universities offer direct entry PhD programs. An American PhD begins with two to three years of coursework in order to pass qualifying exams. During this time doctoral students are able to develop their research interests and hone in on their thesis topic. They will then write a thesis proposal which must be approved before they can start their dissertation. Most programs require PhD students to gain two to three years of teaching experience as well, either by leading their own class or as teaching assistants for a professor. It takes an average of six years to earn a PhD in the US.

Unlike some European countries, there is no mandated minimum salary or national salary scale for PhD students in the US. PhD students ear n between $ 15,000 and $30,000 a year depending on their institution, field of study, and location. This stipend can be tax-free (if it is a fellowship award) or taxable (if it is a salary e.g from a teaching position). American PhD students are usually only paid for nine months of the year but many programs offer summer funding opportunities. A PhD funding package will also include a full or partial tuition waiver.

After earning a PhD, many researchers go on to a postdoc. A postdoc is a continuation of the researcher’s training that allows them to further specialize in a particular field and learn new techniques. Postdoc positions are usually two to three years and it is not unusual to do more than one postdoc. There is no limit on the number of years you can be a postdoc in the US. The average salary (2023 ) for postdocs in the US is $61,143 per year.

A lecturer is a non-tenure-track teaching position. They often have a higher teaching load than tenure track-faculty and no research obligations. These positions are more common in the humanities or as foreign language instructors. Lecturers hold advanced degrees, though not always PhDs. The average salary for a full time lecturer in 2021-2022 according to the American Association of University Professors was $69,499.

Assistant Professor

This is the start of the tenure track. An assistant professor is responsible for teaching, research, and service to the institution (committee membership). Assistant professors typically teach two to four courses per semester while also supervising graduate students. They are also expected to be active researchers and publish books, monographs, papers, and journal articles to meet their tenure requirements. The average salary for assistant professors in 2021-2022 was $85,063 according to the American Association of University Professors . 

Associate Professor

An assistant professor who has been granted tenure is then promoted to an associate professor. An associate professor often has a national reputation and is involved in service activities beyond their university. The average salary for associate professors in 2021-2022 was $97,734 according to the American Association of University Professors . 

This is the final destination of the tenure track. Five to seven years after receiving tenure, associate professors go through another review. If they are successful, they are promoted to the rank of professor (sometimes called full professor). Professors usually have a record of accomplishment that has established them as an international or national leader in their field. The average salary for professors in 2021-2022 according to the American Association of University Professors was $143,823. 

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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/ The Best Academic Planners for 2024/2025
• Chriselle Sy https://blog.thegradcafe.com/author/chriselle-sy/ Graduate Certificate vs Degree: What’s the Difference? [2024 Guide]

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• PhD Employability and Earnings

Written by Ben Taylor

PhDs provide you with an opportunity to pursue original research in your area of specialism, allowing you to eventually become a genuine expert.

But will a PhD help you get a job or earn a better salary? And what are your career prospects in and outside of academia?

This page uses data from the Higher Education Statistics Agency (HESA) and the UK Government to give you an idea of PhD employment rates and earnings.

On this page

Will a phd make me more employable.

A PhD is a versatile, well-respected qualification that can prepare you for a range of careers – both within and outside academia. Transferrable skills like project management, research capabilities and public speaking will be valued by employers across a range of sectors.

Data from the UK government shows that, compared to those among taught Masters graduates, PhD employment rates are higher . This information is based on the Graduate Outcomes survey by HESA that contacted graduates from the 2019-20 academic year 15 months after finishing their courses.

Bear in mind when looking at the data on this page that it isn’t a guarantee that you’ll enjoy the same benefits from your PhD. After all, it’s historical information – but it can be a good way to gauge future prospects.

Will a PhD help me get a better job?

According to HESA, the vast majority of PhD holders are employed in professional occupations. In fact, if you have a PhD you’re around 6% more likely to have a professional role than someone with a taught Masters.

There is a fairly small difference when it comes to the most senior roles – managers and directors – with Masters graduates slightly more likely to hold these kinds of position.

Will a PhD increase my salary?

Another factor you might think about when considering a doctorate is whether it’ll improve your earning potential.

Looking again at the Graduate Outcomes survey from HESA, it does seem that PhD holders are more likely to enjoy higher earnings than people with a Masters degree.

As you can see in the table below, those with a PhD are more likely to earn more than £30,000 per year than their Masters counterparts. 88% of PhD respondents to the survey replied that they earned above £30,000, compared to 62% of Masters graduates.

Another source of information on salaries for PhD graduates in the UK is HMRC’s postgraduate outcomes dataset. This uses tax data rather than relying on people who respond to a survey (like HESA’s Graduate Outcomes), so can be a particularly useful way of measuring earnings.

The table below is from the 2019-20 tax year and compares the median earnings from several different periods after graduation.

How many PhD students become professors?

Although there aren’t any datasets that show how many PhD students go on to become professors, there are surveys that reveal the proportion of PhD holders who continue their careers in higher education.

Analysis by the Higher Education Policy Institute (HEPI) reveals that about 20% of PhD holders are classified as ‘higher education teaching professionals’ three and a half years after finishing their programme. An additional 10% remain in academia and are involved in research.

Just over half of those people who had left academia after completing their PhD ended up working in a research role. It’s also worth bearing in mind that STEM PhD holders are more likely to find work in a research role than Arts, Humanities and Social Sciences students.

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Online PhD in Computer Science Guide | Salary & Requirements 2024

Phd in computer science overview.

The field of computer science has seen exponential growth in the last decade as web-based apps and media platforms continue to grow. An online Doctor of Philosophy (PhD) degree in Computer Science prepares graduates for some of the highest-paying positions in the nation with technology firms of varying sizes.  

As industries continue to adopt digital technologies, the demand for graduates with postsecondary degrees in the field of computer science remains steady. Businesses like Google and Microsoft continue to hire web developers, coders, and other computer science specialists to manage their web-based platforms/services. 

What Is Computer Science?

As a computer science professional, your job is to: 

• Observe, listen to, and communicate with clients
• Python, HTML, Java, C++ and more
• Offer strategies to ensure the functionality of web-based platforms
• Collaborate with UX specialists to ensure website functionality 

Depending on the industry or client, computer science specialists may work in-house or be contracted externally. 

What Can I Do With An Online PhD in Computer Science?

There are many viable career options for professionals with an online PhD in Computer Science. At tech corporations, start-ups, and in higher education, computer science professionals:

• Develop software
• Maintain data systems 
• Teach students coding theory
• Complete programmatic updates
• Maintain server security

Professionals with an online PhD in Computer Science provide in-demand services that continue to increase in value as countless entities adopt web-based platforms for business and internal use. 

Others who graduate with a PhD in Computer Science end up working in academia as a PhD satisfies minimum requirements for many colleges and universities. 

PhD in Computer Science Salaries and Career Outlook

Graduates with a PhD in Computer Science may pursue careers as:

• College Professors
• Computer Science Specialists
• Database Managers
• Research & Development 

Job growth in the computer science career field can vary depending on the position, and graduates should note that these statistics are reflections of the current job market that can fluctuate over time. 

Computer Science PhD Career Paths 

• Median Salary: $85,540 
• Career Outlook: +7% (2020-2030)

Professors that teach computer science at the university level conduct courses in coding, software design, and database management.

• Median Salary: $126,830 
• Career Outlook: +22% (2020-2030)

Professionals in this field to develop new software and improve on existing platforms to improve user experience and efficiency.

• Median Salary: $116,780 
• Career Outlook: +5% (2020-2030)

Network architects help organizations manage their local-area networks and wide-area networks.

• Median Salary: $110,140 

Software developers create computer programs/applications and work closely with UX specialists to provide iterative updates that address bugs/create efficiencies. 

Source: BLS

Earning A PhD in Computer Science

An online PhD in Computer Science typically takes between 4-5 years to complete. It’s always smart to research in-person and online formats to find the program that fits your schedule. 

Aspiring PhD students should consider admissions requirements, areas of specialization, and cost to ensure the program they choose fits their goals and lifestyle.

Pros And Cons Of PhD in Computer Science

Time, cost, and job placement are important factors to review when looking for a PhD program. Compared to a master’s degree in computer science, a PhD in Computer Science allows graduate students to gain access to higher-paying, upper-level positions in the tech and academic fields.

Due to the flexibility offered with an online program, doctoral students have the opportunity to complete their degree with sometimes little to no impact on their current day job.

Coursework In PhD in Computer Science Programs

Most classes included in computer science programs align with industry standards. Classes like Computer Languages, and Database Design, and Machine Learning provide students with a wide range of knowledge and skills to help them operate in a variety of roles post-graduation. 

Courses often include topics like data management, robotics, artificial intelligence, and software development. As a prerequisite to many of these classes, general knowledge of computer science and hardware can help students prepare for PhD-level coursework. 

Computer science graduate programs typically culminate in a research project. 

Skills Learned In PhD in Computer Science

With a PhD in Computer Science, graduates enter the workforce with a wide range of industry-specific skills. These programs build skills such as:

• Writing and improving code
• Website generation
• Advanced software engineering
• Communication
• Troubleshooting
• Operational functionality 
• Systems maintenance

How Long Does It Take To Get A PhD in Computer Science?

Some PhD programs take four years to complete, while others take up to five years. Most programs usually require 90 credit hours, including electives and the Teaching Assistantship requirement.

Factors that impact the length of a degree program include:

• Prior education (Master’s in Computer Science preferred)
• Accelerated course availability
• Synchronous vs asynchronous learning
• Part-time vs. full-time course loads

Choosing The Best PhD in Computer Science

There are many ways to earn a PhD in Computer Science. For example, you can choose to study online, in-person, or through a hybrid of both options. You may want to earn additional certifications and licenses, depending on your specialization or field of interest. This section explores the different options available for future computer science students. 

Online vs In-Person Graduate Degrees

Potential computer science PhD applicants have options depending on their current schedule and employment status. Applicants should be aware that there are many online programs to choose from. 

• Online learning offers flexibility, though on-campus learning can provide additional networking opportunities that may improve the job search post-graduation. 
• On-campus, students learn interpersonal skills that benefit them in professional settings. 
• If students choose to study online, this can be a great way to balance a job while completing the doctoral program. 

There is no right option between the two, though most doctoral students likely prefer one option over the other.

10 Best Schools With Degrees in Computer Science

• Massachusetts Institute of Technology
• Brown University
• Cornell University
• Stanford University
• Carnegie Mellon University
• Dartmouth College
• Columbia University in the City of New York
• University of Pennsylvania
• University of California – Berkeley
• Duke University

If you’re looking for other schools that offer online degrees in computer science, check out the Find Your Perfect “U” tool. You can search over 6,000 colleges and universities with 11 different filters to find the  perfect school for you !

How Long Does It Take To Complete An Online Course? 

Depending on the type of online course, student experiences can vary. If courses are taught synchronously, then students must attend online lectures and labs at set times. Hybrid courses offer a combination of online lectures and in-person lab time, ideal for students looking to acquire skills needed to work post-graduation. 

If a course is taught asynchronously, students can watch lectures and study with flexibility. Alternatively, certificate programs offer accelerated online courses that condense the subject matter into 3-6 week increments. 

Licensure and Certification

Many computer science positions prefer and potentially require applicants to have a license and/or certification (especially for PhD grads). Prospective students should be sure to research their intended job prospects to ensure they acquire the appropriate credentials depending on the region and type of position they may hold. 

Admissions Requirements 

The first step to applying to any program is to check the admissions requirements to confirm the prerequisite experience needed to qualify. Most information technology programs require:

• Proof of completion of a 4-year  bachelor’s degree  from a regionally accredited institution
• Minimum GPA requirements – These vary depending on the program
• Official Transcript
• GRE test score 
• Application fee
• Letter of Intent
• Letters of recommendation 

It is always a good idea to submit applications to schools with varying rates of acceptance. You should also diversify your application list and include schools with high and low rates of admission.  

Paying For A PhD in Computer Science

The cost of an  online PhD in Computer Science  varies depending on a range of factors. In-state tuition tends to be much cheaper than out-of-state, so be sure to apply to programs locally if cost is a determining factor. 

Online programs can be more cost-effective and accessible than in-person programs, providing applicants with options depending on their prior obligations. Some online programs also extend in-state tuition rates to all students regardless of where they live.

Lastly, colleges, universities, and organizations offer scholarships that are merit or need-based that can help minimize the financial impact of going to school.

Scholarships

There are  many scholarship  options for students in the field of computer science. Here are a few: 

• Generation Google Scholarship
• Richard E Merwin Student Scholarship
• IEEE Presidents Scholarship

Computer Science Career Resources

Online computer science phd faqs.

• Due to the web-based nature of the IT sector, pursuing an online PhD in Computer Science is a lucrative alternative to in-person education. Market projections for job growth and compensation are very positive. 
• Professionals with a PhD in Computer Science can expect to make upwards of $80,000 post-graduation, with some roles grossing up to $200,000 annually. 
• A PhD is a lengthy,  intense, and challenging ordeal. Potential applicants should think about the time and financial commitment before applying to a program. 
• After receiving a PhD in Computer Science, graduates can enter the workforce immediately at top tech firms, internally at fortune corporations, and in the academic field in a teaching capacity.  

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

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Career Guides

• Acupuncture and Oriental Medicine
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• 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

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• 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?
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• 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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Most Practical PhD Degrees that Pay Well

By Eric Eng

PhD degrees that pay well are some of the most common considerations graduate students think about. Whether you love learning for its own sake or have some idea of the precise career you’re looking for, surely this may have crossed your mind. No doubt adding a professional title to your name can be very rewarding, but do the demands on your time and energy pay off? 

Advanced degrees are an enormous investment. Choices, such as online doctoral programs, may make graduate school much more accessible and flexible. It is also important to note that grad school alternatives do exist; however, very few of them are accompanied by a competitive salary and the kind of prestige that is associated with earning the title “doctor.” There are many challenges associated with higher education, but the rewards can be truly satisfying. For example, getting a PhD degree means higher academic recognition, which puts you in a position to get high compensation. 

This blog will help you through the best PhD degrees that pay well and what you need to consider. If you are looking for a career change or advancement, exploring PhD degrees that pay well could be the right path for you.

The Value of a PhD Degree Today

A PhD degree, more popularly known as a doctorate, is commonly considered the highest degree of educational attainment. It does not simply expand one’s knowledge in a certain field but rather entails that the holder can do independent research in adding valuable contributions of knowledge in their field. PhD degrees that pay well are particularly sought after due to their high return on investment.

A PhD is not something to be taken lightly. It requires a heavy investment of time and finances. Ordinarily, this would take 4-6 years of intensive study and research work. In these years of doctorate pursuits, students involve themselves comprehensively in the subject field of their choice by getting deep into the existing literature to identify gaps in knowledge that would be their contribution. Pursuing PhD degrees that pay well can make this investment worthwhile.

Another important aspect can be the huge financial implications of pursuing a PhD. Besides the tuition fees, which could be high, there are living expenses one needs to take care of. Most doctoral students self-finance their studies, so they have to juggle their academic commitment with part-time work or finance their research via scholarships and grants . Travel is often required for fieldwork purposes or conference attendance to present research findings. Opting for PhD degrees that pay well can help alleviate these financial burdens.

The monetary investment does not stop at tuition, however. There is an opportunity cost associated with the years one could be working full-time while in a doctoral program. Some students can get funding that covers living, but a large number of others have to make some rather gruesome sacrifices and rely on personal savings or loans. This is often an overlooked cost but is an important component to factor in when considering the total investment toward a PhD degree. Choosing PhD degrees that pay well ensures that these sacrifices are compensated in the long run.

The Pros of Getting a PhD

Although the investment is very substantial, high returns on investments can be reaped from the highest paying PhD degrees because of their salary. This means that one’s credibility and expertise that are gained from rigorous research and study can charge a premium in the job market. Advanced analytical and critical thinking skills developed during a PhD program are highly valued by many employers. PhD degrees that pay well can significantly enhance one’s career prospects.

Earnings vary greatly depending on the field and the career chosen, among other factors. For instance, in academia, a PhD is normally required to proceed for positions that come with tenure. A PhD degree improves one’s likelihood of securing higher salaries and job security. PhD degrees that pay well are particularly advantageous in these scenarios.

Moreover, the highest paying doctorate degrees open several career options apart from the conventional academia and industry. Many holders of PhDs end up working in government agencies, non-profit organizations, and institutions involved in research. They may work as policy advisors, consultants, or leaders in their respective fields. Pursuing PhD degrees that pay well can provide more opportunities in these diverse sectors.

The Top Highest Paying PhD Degrees

Are you planning to take graduate studies any time soon? Here are the top highest paying doctorate degrees that you may choose from:

Medical PhD Degrees

Most of the highest paying doctorate degrees are in the medical profession. According to the occupational projections data from the Bureau of Labor Statistics, the median salary for those who have medical PhD degrees is $229,300. The study period to become a medical doctor is very intense and long, but the chance of high financial gain cannot be denied. Within this field of medicine, some specialties are very highly paying, similar to other PhD degrees that pay well .

For example, neurosurgeons command a respectable amount of pay, followed closely by orthopedic surgery and cardiology. For instance, neurosurgeons are specialists of a very high level in the treatment of nervous disorders with surgical interventions. This highly delicate work with the brain and spinal cord requires great skill and knowledge, which comes consequently with a high salary. 

Similarly, orthopedic surgeons, who deal with the musculoskeletal system, and cardiologists, who deal with issues related to the heart, are also highly paid as a result of the special skills required and because their line of work is highly essential.

Engineering PhD Degrees

Another high-earning potential area for PhD degree holders is engineering. According to the occupational projections data from the Bureau of Labor Statistics, the median salary for those who have an engineering PhD degree is $137,000. Within the field of engineering, several subfields are found that have great job prospects and pay packages. They include chemical, electrical, aerospace, and other types of engineering, all of which can be considered PhD degrees that pay well .

Chemical engineers are interested in the design and operation of plants and other facilities that transform raw materials into valuable products. With skills in specialized areas such as pharmaceuticals, energy production, and environmental sustainability, they have been prolific in industries that range from oil and gas to food and beverages. Such professionals get paid highly because the nature of their job requires so much complexity and has impacts on society, making it one of the PhD degrees that pay well .

The electrical engineer primarily deals with designing, developing, testing, manufacturing, and operating electrical systems and components. With the world being so technological in most aspects, demand for electrical engineers has gone up to be one of the highest, especially for the highly skilled. This makes electrical engineering one of the PhD degrees that pay well.

Similarly, aerospace engineers are on the frontline in making innovations in the field of aviation and space exploration. They expertly design and develop aircraft, spacecraft, and affiliated technologies. The need for aerospace engineers will continuously be on an upward trajectory as the quest for specialized knowledge in technology rapidly changes and exploration into space becomes significant. Hence, aerospace engineering is among the PhD degrees that pay well.

The recent technologies that have hit the scene include artificial intelligence and robotics. These are the ones in whose areas engineers are highly in demand. Development of the latest technologies in fields like healthcare, manufacturing, and transportation means that such engineers will be in high demand and very well-paid, further promoting PhD degrees that pay well.

Law PhD Degrees

Lawyers advise on legal matters, and their work may involve researching, interpreting laws, presenting evidence, and conducting oral arguments in court proceedings. According to the occupational projections data from the Bureau of Labor Statistics, the median salary for those who have a law PhD degree is $135,740. The profession may also entail preparing documents such as contracts, lawsuits, and wills. Often, a lawyer will work in a specialized field of the law: criminal defense, intellectual property, or protection of the environment, similar to how some professionals pursue PhD degrees that pay well .

This will be a career path that calls for acquiring a Juris Doctor (J.D.) degree, so it is going to require you to spend around seven years attending college full-time. You will most probably have to graduate from a T14 law school for the most lucrative opportunities, akin to choosing PhD degrees that pay well. You will also need to pass the bar exam to practice as a lawyer in your state, just as pursuing PhD degrees that pay well can lead to high earning potential in specialized fields.

Factors Affecting the Salary of PhD Holders

Now that you’ve learned some of the highest paying phd degrees , what’s the next step? Time to reevaluate the essential factors that would contribute to your educational journey.

Field of Study

The major has an impact on the earning potential. Some fields, like health and technology, are usually paid higher than others due to the demand for specialized knowledge, market value, or even impacts on society. PhD degrees that pay well are often found in these high-demand fields.

For example, as opposed to general medicine, specialized branches like neurosurgery and cardiovascular research are paid significantly more in health care. This comes as a result of the great deal of training and expertise that is required in such specialized areas, where it is often high-stakes with procedures or groundbreaking research directly affecting patients. These areas represent some of the PhD degrees that pay well.

Other fields, like artificial intelligence and cybersecurity, are also in great demand because they are the backbone of other industries. Currently, most professionals who have completed their PhDs in these fields are highly paid because they possess advanced knowledge and skills necessary in solving complex technological problems . Such fields are prime examples of PhD degrees that pay well.

Geographical Location

Another factor would be geographic location. Some regions or countries would place more demand on any specialization, hence increasing the potential earnings. Cost of living and competition are other geographical factors that impact wages, and they often correlate with PhD degrees that pay well.

For instance, key cities such as New York, San Francisco, or London are financial hubs that generally bring in very handsome returns for PhD holders, say, in economics or finance. The high cost of living is compensated by higher salaries and by the high volume of research institutions and companies seeking specialized help. These cities are hotspots for PhD degrees that pay well.

Salaries may be relatively lower in places where the cost of living is low, such as in small towns or rural areas. On the other hand, these places again offer special research opportunities or a more relaxed lifestyle that some PhD holders are attracted to.

Level of Experience

Experience is another major determinant of salaries. With more work experience, PhD holders will have built up a certain level of expertise in their respective specialties and be of higher value to organizations; this should, in turn, lead to better pay, particularly for those with PhD degrees that pay well.

Doing so will enable PhD holders to create an extremely solid portfolio of research projects, publications, and collaboration projects that increase their standing within the academic community every year, thus appealing to industry employers seeking those who have been successful in doing certain things.

More experience enables a PhD holder to get an in-depth understanding of the area and thus help in taking up complex projects or leadership roles; all these come with better compensation packages. PhD degrees that pay well often attract individuals who can leverage their experience to maximize earnings.

Whereas the PhD itself is an extraordinary achievement, the salary one can attract in the modern market upon completion of a doctorate is determined by factors such as fields of study, geographic locations, and experience levels. Individuals would therefore do well to have these things in mind while choosing their career paths and seeking the best return rate from them, particularly by focusing on PhD degrees that pay well.

Preparing for the Highest Paying Doctorate Degrees

Pursuing graduate studies is no easy feat. Make sure you’re armed with these information to make your schooling as smooth as possible.

Prerequisites and Qualifications

Getting admission to a PhD program requires specific prerequisites and qualifications. Most institutions require a Master’s degree in the related field, while others offer a transition from Bachelor’s directly to PhD for outstanding students. Other requirements may include professional experience and strong academic records with well-articulated research interests. PhD degrees that pay well often have stringent admission requirements to ensure candidates are well-prepared for the rigorous academic journey.

Before applying, carefully go through the admission requirements of your targeted programs. After that, take some time to consider one’s qualifications and whether the candidate meets the necessary criteria. A candidate should consider filling those gaps of an insufficient academic or professional background before applying, particularly for PhD degrees that pay well.

Also, consulting with professors or professionals in the area of interest is very helpful in understanding the qualifications particularly highly regarded by your desired industry. This is especially important when aiming for PhD degrees that pay well, as industry standards can be quite high.

The Right Program

The right PhD program requires strategic thinking and search. Consider factors such as the reputation of the program, faculty, research facilities, success of the alumni, and course structure. The program should be such that it aligns with your career goals and personal circumstances. Opting for PhD degrees that pay well can significantly enhance your future earning potential.

The programs require thorough research. This includes looking at the rankings, areas of research, and potential expertise for a given program. Contact current or former students to get first-hand information about their experiences and opportunities available. This insight is invaluable, especially when evaluating PhD degrees that pay well.

You may also get superb networking opportunities from conferences or workshops in your sphere of interest. This will keep you connected with professors or researchers affiliated with the programs you are interested in. Networking is crucial for those pursuing PhD degrees that pay well, as connections can lead to high-paying job opportunities.

Financial Aspect of PhD

The cost of a PhD is huge, even with a good salary. Look for all sources of funds, including scholarships, grants, teaching assistantships, research assistantships, and student loans. Some employers will sponsor part or the whole program, especially if it aligns with your professional development in that organization. 

Scholarships and grants alone should be applied for first. Many institutions or other organizations provide funds for eligible applicants. PhD degrees that pay well often have more funding opportunities due to the high demand for skilled professionals in those fields.

It is also advisable to investigate teaching or research assistantship positions, which help not only financially but also add to your academic profile and future career with teaching or research experience. These positions are especially beneficial for those pursuing PhD degrees that pay well , as they provide both financial support and valuable experience.

What’s the Difference Between a PhD and a Doctorate Degree?

Doctoral degrees include PhDs and other doctorates such as a doctor of education (Ed.D.). If you’re looking for a degree geared toward professional practice, then a doctorate such as an Ed.D. provides advanced training and leadership skills . A PhD focuses more on theory, philosophical ideas, and research, and is expected of researchers and college faculty.

How Long Does it Take to Earn a PhD Degree?

It takes between 6-12 years to earn a doctoral degree. Doctorates in science and engineering (SE) fields often take less time to complete than doctorates in non-SE fields, per the National Center for Science and Engineering Statistics.

What Are The Best Doctorate Degrees?

Selecting the best doctorate degrees largely depends on individual career goals, interests, and the evolving demands of the job market. Some of the best doctorate degrees that consistently stand out due to their high demand and lucrative career prospects include Doctor of Medicine (MD), Doctor of Philosophy (PhD) in fields like Engineering, Computer Science, and Biological Sciences, Doctor of Education (EdD) for those pursuing leadership roles in education, and Doctor of Business Administration (DBA) for aspiring executives and business leaders. Each of these degrees offers unique opportunities, so aligning your choice with your professional aspirations and personal interests is crucial for maximizing the benefits of advanced education.

Can You Earn Your PhD Online?

Yes, but it depends on the program. Ph.D. programs in fields such as STEM require a lot of time on campus for research and dissertation preparation. You might be able to find more fully or mostly online PhD programs in fields like education. Some universities may offer hybrid PhD programs with online and in-person components.

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