Master's Degree Salary Guide (2026)
Are you considering earning a Master's degree and wondering how it will impact your salary prospects? Here's how a Master's can boost your salary, and which degrees pay the most.
✨ 5-second summary
- Master's graduates earn 12-20% more than Bachelor's grads.
- Master's degree holders have a lower unemployment rate.
- Some of the highest-paying and most secure positions that require a Master's degree are in healthcare, particularly nursing.
Candidates with grad degrees get 2x more interviews
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Browse Master's programs →Salary comparison: Master's degree salary vs Bachelor's
United States
Master's degree holders earn $297 (19%) more than Bachelor's graduates in the USA.
- Workers with a Bachelor's degree earn a median of $1,543 per week.
- Master's graduates earn $1,840 per week.
Additionally, Master's graduates have lower unemployment rates. Bachelor's degree holders had a 2.5% unemployment rate, compared to 2.2% for Master's graduates (the overall average was 3.3% for all workers in 2024).
Also read: The Ultimate Guide to Pursuing a Master's Degree in the USA
United Kingdom
In the UK, individuals with graduate education earned 12% more than Bachelor's graduates in 2024.
- Those with a Master's degree or higher earned £47,000 per year.
- Individuals with only a Bachelor's degree earned £42,000.
Also read: The Ultimate Guide to Getting a Master's Degree in the UK
Average salary of someone with a Master's degree
The median annual salary for Master's degree holders is approximately $95,680 per year, according to the BLS Education Pays data for 2024. This figure represents earnings for full-time wage and salary workers age 25 and over.
It's important to keep in mind that the averages vary according to location, industry, years of experience, and other factors. Here are some examples:
- Average starting salaries for Master's engineering graduates are around $94,086, while business graduates are expected to earn $77,632.
- Graduates in healthcare, business, engineering, and technology consistently earn above-average salaries, while education and counseling professionals often fall below the median.
- Workers in high-cost metropolitan areas typically earning more than those in rural regions.
Highest-paying Master's degrees per study field
Healthcare and nursing
Healthcare careers consistently rank among the highest-paying for Master's degree holders, with nurse anesthetists at the top, earning an annual salary of $217,270 and projected 35% employment growth.
| Job | Annual salary | Job growth |
|---|---|---|
| Nurse anesthetists | $212,650 | 35% |
| Nurse practitioners | $129,210 | 40% |
| Physician assistants | $133,260 | 20% |
Business and finance
Business degrees, particularly MBAs, offer strong earning potential:
| Job | Annual salary | Job growth |
|---|---|---|
| Financial managers | $161,700 | 15% |
| Personal financial advisors | $102,140 | 10% |
| Financial analysts | $101,350 | 6% |
MBA holders are projected to earn an average starting salary of $85,842, while business graduates at the Master's level overall are expected to earn $77,632. Finance majors' projected earnings are 13.1% higher than last year, at $79,702.
Computer science and technology
Technology fields offer some of the highest starting salaries for new graduates:
| Job | Annual salary | Job growth |
|---|---|---|
| Computer and information research scientists | $140,910 | 20% |
| Data scientists | $112,590 | 34% |
| Computer and information systems managers | $171,200 | - |
Computer science majors at the Master's level earn starting salaries around $85,403.
Engineering
Engineering consistently ranks among the top-paying fields for individuals holding a Master's degree.
Engineering graduates at the Master's level are expected to see starting salaries of $94,086 according to the NACE Winter 2025 Salary Survey, representing a 12.5% increase from the previous year.
The highest-paid individual engineering majors include computer engineering ($82,565) and software engineering ($82,536).
Mathematics and statistics
| Job | Annual salary | Job growth |
|---|---|---|
| Mathematicians | $121,680 | 8% |
| Statisticians | $103,300 | 8% |
| Actuaries | $120,000 | - |
Political science and public policy
| Job | Annual salary |
|---|---|
| Political scientists | $139,380 |
| Economists | $115,000 |
⭐ KEY TAKEAWAY
Top 10 highest-paying jobs that require a Master's degree
- Nurse anesthetists: $212,650 (mean salary)
- Computer and information systems managers: $171,200
- Financial managers: $161,700
- Computer and information research scientists: $140,910
- Political scientists: $139,380
- Physician assistants: $133,260
- Nurse practitioners: $129,210
- Mathematicians: $121,680
- Data scientists: $112,590
- Statisticians: $103,300
Source: US Bureau of Labor Statistics, 2024
Master's degree salary for common jobs and degrees
Master of Business Administration (MBA) salary
The MBA remains one of the most popular and financially rewarding graduate degrees. The projected median salary for MBA graduates in the US in 2025 is $125,000, which is $25,000 higher than projections for experienced, direct-from-industry hires and $5,000 higher than the starting salary for MBA graduates.
It's projected that an average MBA in 2026 will have a:
- Starting salary of $85,842.
- An average salary of $121,324 (includes base salary and bonuses)
💡Did you know? MBA holders can earn around $3 million more over their lifetime compared to those with only a Bachelor's degree, according to GMAC research.
Master’s in Accounting salary
The median annual wage for accountants and auditors was $81,680 in May 2024, according to the BLS. Employment of accountants and auditors is projected to grow by 5% from 2024 to 2034, faster than average for all occupations.
To further boost your salary, you can also earn a CPA (Certified Public Accountant) license. CPAs with Master's degrees can expect significantly higher earnings, with average salaries around $99,000 according to industry surveys.
There are many career paths and advancement opportunities for those with a background in accounting. Entry-level public accountants can advance to senior positions as they gain experience and may rise to executive positions. According to Glassdoor, the average total pay for a Chief Financial Officer exceeds $300,000 per year.
Master's degree in Counseling salary
The median annual wage for school and career counselors and advisors was $65,140 in May 2024. With 4% projected growth from 2024 to 2034, about 31,000 openings are expected each year over the decade.
| Industry | Median annual salary |
|---|---|
| Local elementary and secondary schools | $76,960 |
| Private elementary and secondary schools | $62,090 |
| Colleges, universities, and professional schools | $60,170 |
To work as a counselor, you'll most likely need a license. Requirements vary by state, but typically include completing graduate coursework, supervised practicum hours, and post-degree clinical experience.
Master's in Education salary
According to the National Education Association (NEA), the national average public school teacher salary in 2023-24 was $72,030, with projections showing a 3.0% increase to approximately $74,177 for 2024-25. This marks the largest year-over-year pay increase in over a decade.
There are numerous opportunities that a Master's degree in Education opens up for you. Although you can be a teacher with just a Bachelor's degree and a license, a graduate degree can help you become a better professional and pursue leadership positions. It's also a requirement for careers in higher education.
⭐ KEY TAKEAWAY
Fastest growing jobs that require a Master's
Here are the fastest-growing occupations that typically require a Master's degree, based on BLS projections for 2024-2034:
- Nurse practitioners (40% projected growth)
- Data scientists' (34%)
- Physician assistants (20%)
- Computer and information research scientists (20%)
- Epidemiologists (16%)
Non-salary benefits of Master's degrees
Higher salary potential is not the only benefit of earning a Master's degree. In the current competitive job market, you'll need all the help you can get.
First of all, for many positions, especially for management and leadership, a Master's degree is an unspoken requirement. It can help you stand out from other candidates and demonstrate your qualifications. Employers tend to choose those with graduate degrees to fill senior positions.
Second, depending on your personal goals, a Master's degree allows you to explore further research and education opportunities, such as a PhD. Besides, there are a lot of internships for Master's students, which not only help you grow your professional network but also may result in a job offer right after graduation.
Last but not least, a Master's degree is a great chance for a career change. Many Master's programs accept students with backgrounds that may not match the degree major. Moreover, an unconventional combination of degrees can play in your favor in the hiring process.
Conclusions
Among the many advantages of acquiring a Master's degree, higher salaries are probably the most convincing. Just 2 additional years of education can increase your annual earnings by 16%! On top of that, it allows for career growth and change opportunities, as well as networking.
While an average salary of $86,372 per year does sound enticing, don't make money your one and only factor. Use a Master's degree as a chance to get closer to achieving your long-term goals, improve and gain more skills in your focus area, and experience new things.
Tetiana SokolovaAuthor
With a Bachelor's degree in System Analysis and Applied Statistics, Tetiana brings a strong analytical foundation to her role as a Content Analyst at educations.com. She is dedicated to researching, producing, and refining content to support students worldwide in their education journey, applying her technical expertise and analytical skills to ensure accuracy and relevance.
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