The Bureau of Labor Statistics (BLS) Current Population Survey reports on education level and salary for workers age 25 and over. The median annual salary based on education is as follows:
Individuals who did not complete high school: $24,492
High School Diploma: $33,904
Some college: $37,804
Associates Degree: $40,820
Four Year Degree: $55,420
Masters Degree: $67,600
Doctoral Degree: $84,448
Professional Degree: $90,220
Required Degrees and Salaries
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 at least $10,000, however there is much less demand for applicants with advanced degrees.