Highest-Paying PhD Jobs
The length of time required to achieve a PhD degree is often quite extensive. If you are thinking about making a large investment of time and effort, it's helpful to have information on the highest earning PhD degrees. Below, we will look at ten doctoral degrees that will prepare individuals for high-paying careers. We will look at some details about these programs as well as the general career path. The table below shows the type of PhD required for the highest earning PhD jobs, along with salary and job growth data.
| PhD Degree | Career Option | Median Salary (2020) | Job Growth (2020-2030) | Top 10 % Salary (2020) |
|---|---|---|---|---|
| PhD in Biology | Medical Scientist | $91,510 | 17% | $164,650 |
| PhD in Mathematics | Mathematician | $110,860 | 3% | $170,150 |
| PhD in Immunology | Immunologist | $84,400 | 5% | $156,360 |
| PhD in Economics | Economist | $108,350 | 13% | $198,230 |
| PhD in Chemical Engineering | Chemical Engineer | $108,540 | 9% | $168,960 |
| PhD in Nursing | Nurse Practitioner | $111,680 | 52% | $156,160 |
| PhD in Physics | Physicist | $119,730 | 8% | $189,690 |
| PhD in Political Science | Political Scientist | $125,350 | 9% | $170,800 |
| PhD in Computer Science | Computer Science Researcher | $126,830 | 22% | $194,430 |
| PhD in Pharmacology | Pharmacist | $128,710 | -2% | $164,980 |
Source: *Bureau of Labor Statistics
Many individuals pursue PhD degrees so that they are eligible for more research-oriented positions in science, technology, engineering, and mathematics, known as the STEM professions. Advanced degrees in these disciplines are generally the most lucrative doctorate degrees. Some of these programs allow students to enroll directly after completing their undergraduate studies, while others may require students to complete a master's program first. In general, students who are enrolled in PhD programs must also complete a doctoral dissertation after completing coursework in order to fulfill the requirements of the program.
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Highest Paying Doctorate Degrees
PhD in Biology
Due to all the subfields that are found in the field of biology, PhD programs in biology often allow students to select a more specific focus area for their degree program. For example, some students may pursue a PhD focused on ecology while others may study neurobiology or molecular biology. Depending on which focus area they select, students will be required to complete a number of advanced-level courses as well as a thesis. A PhD in biology would prepare students for a number of different careers, both in clinical areas and in research. One potentially high-paying option is a career as a medical scientist. In 2020, medical scientists earned a median annual salary of $91,510 though it is possible to earn significantly more in this field, as the top ten percent earned over $164,650 according to the BLS.
PhD in Mathematics
Students who are interested in studying mathematics at an advanced level may be interested in enrolling in a PhD program in the field. In these programs, students will be required to take a number of different math courses in an area that interests them. For example, they may take courses in probability, differential geometry, and algebraic geometry. Towards the middle and end of the five-year programs, students will usually begin focusing on their dissertation by conducting their own research. A PhD program in mathematics could prepare students for a number of high-paying careers. For example, some students may be interested in becoming mathematicians, a career in which individuals earned a median salary of $110,860 in 2020 according to the BLS, with the top ten percent of mathematicians earning over $170,150 in 2020.
Immunology
One of the highest paying PhD degrees is the degree in immunology, a branch of medical sciences focusing on infectious diseases. Preparation for admission to a PhD program includes at least a bachelor's degree in a science discipline and the specific prerequisite courses required by the university. Individual programs offer various concentrations in the discipline like virology or epidemiology. PhD students study everything about infectious diseases, including how organisms cause disease, how diseases are transmitted, and how public policy impacts transmission and prevention. Most graduates with these highest paying doctorate degrees work either in public health positions or research. The median salary for an immunology professional is $84,400, with a job growth rate of 5%. The top 10% of people in these highest paying PhD jobs earn as much as $156,360.
PhD in Economics
Students in the field of economics study the systems of production and distribution of resources within companies, institutions, governments, and the global economy. Some specific issues covered in an economics degree might be law and economics, international economics, and financial economics. Advanced degrees might follow undergraduate majors in finance, marketing, or business. PhD students would choose a specific focus for individual research in order to complete a dissertation and graduate. Individuals with a doctoral degree in economics might work in a company, a government position, or in media. Some PhD holders might teach Economics at the university level as professors. It is possible to make up to $198,230 annually in a top position, while the 2020 median salary is $108,350 with job growth estimated at 13%.
PhD in Chemical Engineering
Like other PhD programs, a doctoral program in chemical engineering typically is completed over four or five years, during which students take courses and work on their thesis in a research area of their choice. Some courses that may be found in these programs include fluid dynamics, chemical engineering thermodynamics, and process systems. In order to enroll in one of these programs, students will need an undergraduate degree in chemical engineering, or a very closely related field. Some programs may require that you maintained a certain GPA in chemical engineering classes. Students with a master's degree in a related field may be able to enroll in more advanced coursework immediately upon beginning the PhD With a PhD in chemical engineering, you could pursue a career as a chemical engineer. In 2020, chemical engineers made a median salary of $108,540 according to the BLS, though it is possible to make significantly more in this field, as the top ten percent earned more than $168,960.
PhD in Nursing
Pursuing a PhD in Nursing is a decision usually made after working as a Registered Nurse in a clinical setting for a period of time. There are two advanced degrees in Nursing available. Nurse practitioners who focus on clinical practice and working directly with patients can earn a DNP (Doctor of Nursing Practice) degree. These clinical professionals usually work in a clinic, hospital, or private practice setting. Nurse Practitioners are able to diagnose and treat patients independently, including prescribing treatment and medication. A PhD degree in Nursing may lead to a career in Hospital or University administration. A research position is also possible, including teaching at a university or Nursing School. Nurse Practitioners earn a median salary of $111,680, with the top 10% earning $156,160. Job growth is approximately 52%.
PhD in Physics
Students who enroll in PhD programs in physics can expect to spend around five years completing their degree, depending on how long it takes them to complete a research thesis. In addition to a thesis, these programs require that students complete a number of required courses. Courses that could be found in a PhD program in physics may include quantum mechanics, electromagnetism, and statistical physics. With a PhD in physics, you could pursue a career as a physicist. In 2020, physicists made a median annual salary of $119,730 according to the United State Bureau of Labor Statistics (BLS). The top ten percent of physicists earned more than $189,690.
PhD in Political Science
PhD programs in political science may take students five or six years to complete and typically are comprised of coursework, examinations, and independent research to write a thesis. Coursework in these programs may include classes that cover topics like voting behavior, comparative politics, policy-making in developing countries, and many other topics. PhD programs in political science are typically research heavy and students may spend an entire year of the program engaged in field research. This remains as one of the best paid PhD programs. With a PhD in political science, students could pursue a career as a political scientist. These professionals made a median annual salary of $125,350 in 2020, with the top ten percent earning over $170,800.
PhD in Computer Science
Computer science in general continues to be quite a lucrative field to pursue and is one of the highest paying PhD programs. With the phenomenal growth of technology globally, a PhD in any area of Computer Science leads to some of the highest paying PhD careers. To be admitted to a doctoral program, students usually have at least a bachelor's degree in a computer science area, and usually a master's degree as well. Most programs look at experience in the field as well as previous academic programs and test scores. The PhD work usually is research based and involves creative design in conjunction with a professor. There is continued job growth in this field, 22% in 2020, as almost every area of contemporary life requires the contribution of computer science experts. The median salary is $126,830, while the top 10% of computer scientists can earn $194,340.
PhD in Pharmacology
The highest paying PhD degree among the ten listed here is pharmacology, the study of chemical formulas and compounds applied to the medical field. Undergraduate degrees leading to admission to a PhD program in pharmacology include biology, chemistry, and other science majors. However, like medical school, most pharmacy programs admit students with any undergraduate degree provided they have the prerequisite coursework and test scores. Pharmacy students study medical biology, the chemistry of drugs, dispensing regulations, and immunology. Pharmacists are employed anywhere medications are used: clinics, hospitals, drugstores, and educational institutions. There are also many research positions for those with a PhD in Pharmacology. The median salary is $128,710, while the top 10% of positions pay as much as $164,980. The employment rate is currently declining, showing a job growth of -2%.
General Admission Requirements for Highest Earning PhD Degrees
While admission requirements for PhD programs will likely vary from program to program, the application process is often similar regardless of the specific field. Students can expect to submit an application form, undergraduate transcripts, graduate transcripts if application, GRE results, letters of recommendation, a resume, and a personal statement. Some programs may also require that students submit information regarding their thesis interests and desired research area.
