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Tuesday, January 3, 2012

Graduate Degrees and Future Income

Grad School Math: Which Degrees Are Worth the Debt talks about income gains for those with graduate degrees relative to those with undergraduate degrees. But there are differences by discipline:

But not all degrees are created equal. Based on an analysis of Census data, Georgetown University's Center on Education and the Workforce determined that the payoff from a graduate degree can vary wildly, from a 1% salary bump to a 190% wage explosion. And the degrees that deliver most bang for the education buck may surprise you... 
The big winners are health and medical preparatory programs, from which graduate or professional degrees can increase salary by 190%. Similarly, social sciences (134%), zoology (123%), molecular biology (115%), public policy (107%), biology (106%), biochemical sciences (101%), chemistry (93%), pre-law (81%) and physiology (78%) majors can all expect to get a major dividend from pursuing graduate or professional degrees. 
The above article links to Georgetown's The Economic Value of College Majors report.

And here's their latest report titled Hard Times: College Majors, Unemployment and Earnings.