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Alison Doyle

How Much is a College Degree Worth?

By October 4, 2012

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Indeed.com ChartHow much is a college degree worth in today's job market and how much more can you earn if you have an advanced degree?

Job search engine Indeed.com took a look at job postings to determine how many organizations that are hiring require an advanced degree, and what the salary differential is for various levels of education.

Here's what the results show:

  • 68% require a Bachelor's degree; average salary is $73,000
  • 25% require a Master's degree; average salary is $83,000
  • 7% of job postings cite a PhD; average salary is $93,000

To recap, each degree beyond a Bachelor's is worth about $10,000, however there is much less demand for applicants with advanced degrees.

Which locations need candidates with advanced degrees? Here's where current demand is:

Bachelor's Degree, Master's & M.B.A.

  1. New York
  2. Washington D.C.
  3. Chicago
  4. Boston
  5. San Francisco

PhD Degree

  1. New York
  2. Washington D.C.
  3. Boston
  4. San Jose
  5. San Francisco

One thing to keep in mind when looking at data like this, is that if you're flexible as to where you can live and work, you'll find more job postings for positions that meet your education level in the cities with the greatest demand.

With the PhD jobs, some of the demand is based on where tech and scientific organizations are clustered. You will also find a high number of colleges and universities in those locations. Again, if you have the flexibility, it's worth taking a look at where the jobs are to see if you can find more jobs that are a good match for your skills and educational background in some locations than in others.

It's easy to do when you use Indeed.com or one of the other job search engines. You can search by location and keyword using the basic search function and further refine your search using the advanced searched options.

Read More: Indeed.com | Best Job Search Engines | Best Sites for Job Listings

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