Highest Paying PhD Degrees: Students Before Profits Awards

Earning a Ph.D. degree is a long process. So it’s essential to consider whether you are enrolled in one of the highest-paying Ph.D. degree programs. The highest paying PhD programs can be time-consuming, and they can also be expensive. Therefore, you’ll want to think about the earning potential of any Ph.D. program when choosing to enroll.

What Is a Ph.D.?

A Ph.D. is the highest academic degree one can earn. While the typical Ph.D. degree requires a student to complete an area of research and write a thesis, a Ph.D. degree is unique in its format.

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Students typically spend about three years doing the research before defending their thesis. Their location will depend on the field of study.

A Ph.D. student works at the cutting edge of their field, producing new results that interest other scholars. A doctorate will qualify a student to use the title Doctor and add credentials after their name. So advanced degrees typically offer better pay and prestige.

What Is the Difference Between a Ph.D. And a Doctorate?

Initially, these terms seem very similar. Doctorate and Ph.D. are used interchangeably in academia. Both types of degrees are at the top of the educational degree ladder.

A doctorate refers to many fields, such as professional degrees, scientific disciplines, and humanities.

A Ph.D. (Doctor of Philosophy) is a subcategory of a doctoral degree. It is more distinct and clear-cut and usually entails only humanities and science.

Someone who says they’re pursuing a doctorate is doing a Ph.D. in a particular field. So it’s important not to confuse the two terms.

PhDs are more academic and research-oriented by nature. Often, they focus on disseminating knowledge through research. That means reviewing existing literature and assessing what is emerging in a particular field. Most phd graduates work extremely hard to reach their academic goals, so those with the highest paying phd degrees have definitely earned it!

How Long Does It Take To Earn a Ph.D.?

Regardless of what you are studying, Ph.D. programs typically take 5-6 years to complete. The highest paying phd degrees can take longer, though. Some estimates say it takes 8.2 years to finish a Ph.D. But this is only an average. Your exact duration depends on how many courses, exams, and dissertations you need to do.

Before taking the comprehensive exams, students take advanced courses in their field for a few years. Following this, students have to finish a dissertation project, which can take a while. But with the recent boom in distance education, students can now earn a Ph.D. even faster.

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Getting a High-Paying Ph.D. Degree Online

Technology has made it possible for colleges and universities to offer online courses. This includes doctoral programs. These programs allow candidates to complete almost all their requirements online.

When you don’t have access to your preferred university, or if you work full-time, it’s an easy option. Online doctorate programs are designed for busy professionals who can’t take time off work to study.

However, not all online doctorate programs are 100 percent online. You’ll have to give your doctoral dissertation in person for some programs. The dissertation is your final step to earning your degree.

If the committee wants to revise your work, you’ll have to do the oral defense again. A dissertation defense could require a trip to campus, but some online schools allow you to do it via conference call. In addition, the school may need you to do orientations, workshops, or residencies for phd programs.

During your school search, ensure you will be able to meet any physical attendance requirements before enrolling in an online doctoral program.

Top Highest Paying Ph.D. Degrees Methodology

We have compiled a list of the highest-paying doctoral degrees. These phd programs have been selected based on income for the most common careers for those with a Ph.D. The figures show the median hourly pay according to the U.S. Bureau of Labor Statistics.

Keep in mind that income for these doctoral degrees can vary widely depending on your experience level. Pay for these advanced degrees can also be different depending on where you live. Additionally, Ph.D. graduates should note that an early career salary will differ from mid-career salaries.

These highest-paying doctorate degrees are ordered from highest to lowest pay.

Degree	Median Pay	Rank
MEDICINE	$208,000	1
PHYSICS	$147,450	2
COMPUTER SCIENCE	$131,490	3
POLITICAL SCIENCE	$122,510	4
AEROSPACE ENGINEERING	$122,270	5
DATA SCIENCE	$108,660	6
ECONOMY	$105,630	7
CHEMICAL ENGINEERING	$105,550	8
ORGANIC CHEMISTRY	$105,550	9
ELECTRICAL ENGINEERING	$101,780	10
BIOMEDICAL ENGINEERING	$97,410	11
STATISTICS	$96,280	12
PHARMACOLOGY	$95,310	13
ATMOSPHERIC SCIENCE	$94,570	14
BUSINESS ADMINISTRATION – MANAGEMENT	$93,000	15
GENETICS	$80,150	16
PSYCHOLOGY	$81,040	17
PHYSICAL CHEMISTRY	$79,760	18
IMMUNOLOGY	$79,260	19
EPIDEMIOLOGY	$78,830	20
ANTHROPOLOGY	$61,910	21

Highest Paying Ph.D. Degrees: Students Before Profits

#1 MEDICINE

MEDIAN PAY: $208,000 +

A Ph.D. in Medicine is one of the most common and highest-paying doctoral degrees one can earn. Medical doctors and Physicians use tests and exams to diagnose patients. Their findings lead them to prescribe medication and treatments to help heal illnesses and injuries. They’re often the first types of doctors patients see because they have a wide range of medical knowledge.

Doctors usually work in teams, with nurses and techs assisting them. They can also work in schools, hospitals, clinics, or residences. In addition, some graduates of Ph.D. in Medicine degree programs work as researchers in labs. Most phd programs in medicine are academically challenging, but they also lead to some of the highest paying phd jobs.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Physician is more than $100 per hour. The number of jobs annually is 727,000. Over the next decade, job growth is expected to increase by four percent.

#2 PHYSICS

MEDIAN PAY: $147,450

The highest-paying doctoral degree on our list is a Ph.D. in physics. As a physicist, you will gain knowledge of the laws that govern our physical realm. Physicists find careers as professors, advisors, and in research positions.

Physicists can find themselves working with nuclear energy, space travel, aviation, and much more. Other physicists find exciting careers working in academics or at the research level. A Ph.D. in Physics often results in some of the highest paying Ph.D. jobs available.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Physicist is $70.89. The number of jobs annually is 19,500. Over the next decade, openings are expected to increase by eight percent.

#3 COMPUTER SCIENCE

MEDIAN PAY: $131,490

Computer Science comes in third on our list. A Ph.D. in Computer Science is one of the highest paying Ph.D. degrees. With a Ph.D. in computer science, graduates can find careers as computer scientists. In addition, their advanced knowledge of computer science will enable them to work for software firms.

Ph.D. graduates in computer science will also be ready to help develop the software of tomorrow. And they can also engage in computer science topics such as machine learning and artificial intelligence. Computer scientists may also work on the research side or academic level. Other related phd programs include Cyber-Security and Information Systems.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a computer science phd is $63.22. The number of jobs annually is 33,000. Over the next decade, openings are expected to increase by 22 percent. That’s much faster than the national average.

#4 POLITICAL SCIENCE

MEDIAN PAY: $122,510

A Ph.D. in Political Science is an excellent choice for a high-paying doctorate. Political Scientists have some of the highest paying phd jobs in the country. Political scientists study government development and implementation. They evaluate political ideas for cities, states, or countries to see what works.

Political Science is a numbers-based job, and part of it is collecting and analyzing data. Usually, political scientists work in an office full time. However, some may work remotely during campaigns or events. Political scientists hold one of the highest-paying Ph.D. degrees on our list.

According to the U.S. Bureau of Labor Statistics, a political scientist’s hourly pay is $58.90. The number of jobs annually is 7,000. Over the next decade, openings are expected to increase by nine percent.

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#5 AEROSPACE ENGINEERING

highest paying phd aerospace engineering

MEDIAN PAY: $122,270

Ph.D. graduates in Aerospace Engineering have the credentials for some of the highest paying phd jobs in the aviation industry. They can be lead engineering technicians, project managers, and directors.

These engineers use their subject knowledge to create concrete processes and solutions. They design aircraft and spacecraft vessels and equipment. Many aerospace engineering jobs will accept a master’s degree instead of a doctoral degree. Yet a Ph.D. in engineering is required to have the highest-paying jobs in the field.

According to the U.S. Bureau of Labor Statistics, the hourly pay for an Aerospace Engineer is $57.78. The number of jobs annually is 61,400. Over the next decade, job growth is expected to increase by eight percent.

#6 DATA SCIENCE

MEDIAN PAY: $108,660

A Ph.D. in Data Science is an excellent, high-paying Ph.D. degree. Data Scientists help businesses make more intelligent decisions by analyzing and interpreting digital data. They combine technology and social science skills to find and manage trends.

By applying industry knowledge and contextual understanding, data scientists uncover solutions. As a result, their salaries and job growth reflect their high demand in today’s data-driven economy. Data scientists have some of the highest paying phd jobs in the nation.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Data Scientist is $52.24. The number of jobs annually is 10,598. Over the next decade, openings are expected to increase by two percent. Another one of the highest paying phds related to data science is computer engineering.

And if you are just entering this field, you might also be interested in a bachelor’s degree in computer science.

#7 ECONOMY

MEDIAN PAY: $105,630

An Economy Ph.D. is another high-paying degree making our list. An economist works to improve a company’s financial health. They have advanced understanding of market dynamics. These experts help businesses set reasonable prices for products and services. And they identify new markets and improve user interfaces based on consumer behavior.

Economists with doctorate degrees are in high demand as the job market is evolving. They may also work as consultants to government agencies or in private firms. A higher education in this field typically starts with an undergraduate degree and then a master’s degree in economics.

According to the U.S. Bureau of Labor Statistics, the hourly pay for an Economist is $50.79. The number of jobs annually is 18,600. Over the next decade, openings are expected to increase by 13 percent. That is faster than the national average. The highest paying phds in economics will have plenty of job options over the coming years.

#8 CHEMICAL ENGINEERING

MEDIAN PAY: $105,550

A Ph.D. in Chemical Engineering tops our list as one of the highest paying Ph.D. degrees. A chemical engineering degree focuses on the crossover of chemistry and the physical sciences.

Students study topics including biochemistry and microbiology. They learn how to work with and create many chemical compounds. As a result, many chemical engineers work in pharmaceuticals, biotechnology, and biomedicine.

According to the U.S. Bureau of Labor Statistics, the average salary for Chemical Engineers with doctorate degrees is $50.75 per hour. The number of jobs annually is 26,30. Over the next decade, openings are expected to increase by nine percent.

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#9 ORGANIC CHEMISTRY

MEDIAN PAY: $105,550

A Ph.D. in Organic Chemistry is another one of the highest-paying Ph.D. degrees. This phd program typically results in some of the highest paying phd jobs in academia or research. For example, graduates will use their organic chemistry knowledge to work with research teams. Others end up employed at universities and colleges teaching advanced subjects.

According to the U.S. Bureau of Labor Statistics, the hourly pay for an Organic Chemist is $34.34. The number of jobs annually is 94,400. Over the next decade, openings are expected to increase by six percent.

#10 ELECTRICAL ENGINEERING

highest paying phd electrical engineering

MEDIAN PAY: $101,780

A Ph.D. in Electrical Engineering is another one of our highest paying doctoral degrees. A Ph.D. in Electrical Engineering can result in many high-paying Ph.D. jobs. Those with Ph.D.s in Electrical Engineering can work in the design or manufacturing of electronics.

Electrical engineers with doctorate degrees tend to have a hand in some of the most essential products of our times. For example, they can design computers, televisions, or smartphones. A Ph.D. in electrical engineering is needed to work in a senior-level position as an electrical engineer.

According to the U.S. Bureau of Labor Statistics, the hourly pay for an Electrical Engineer is $48.93. The number of jobs annually is 313,20. Over the next decade, openings are expected to increase by seven percent.

#11 BIOMEDICAL ENGINEERING

highest paying phd biomedical engineering

MEDIAN PAY: $97,410

Those who earn a Ph.D. in Biomedical Engineering have some of the highest-paying Ph.D. degrees. Biomedical Engineering graduates use their knowledge to design new products for the biomedical field. For example, they work to develop advanced implants and limb replacements. They also develop other critical therapies for people.

Biomedical Engineers must understand biology as well as manufacturing and engineering. As a result, biomedical engineering jobs have some of the best outlooks of any of the highest-paying doctoral degrees on this list.

According to the U.S. Bureau of Labor Statistics, the average salary for a Biomedical Engineer is $46.83 an hour. The number of jobs annually is 19,300. Over the next decade, openings are expected to increase by six percent.

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#12 STATISTICS

MEDIAN PAY: $96,280

Another one of our highest paying doctorate degrees is a Ph.D. in Statistics. With a Ph.D. in Statistics, graduates will find themselves working as statisticians. Statisticians are crucial in many different industries. They can work in healthcare, government, the private sector, and more.

Many financial institutions look to employ statisticians. As a result, statisticians can expect to see a very high growth rate in jobs over the coming years. While a master’s degree is enough for some career paths as a statistician, a Ph.D. in Statistics yields the highest-paying Ph.D. jobs.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Statistician is $46.29. The number of jobs annually is 44,800. Over the next decade, openings are expected to increase by 33 percent. That is much higher than the national average. And it makes statistician the fastest-growing career on our list.

#13 PHARMACOLOGY

MEDIAN PAY: $95,310

Another highest-paying Ph.D. is in Pharmacology. With a Ph.D. in Pharmacology, graduates can work in high-level careers in the pharmaceutical industry or in research. Pharmacologists work to develop new medicines or perfect existing ones.

The highest-paying jobs in pharmaceuticals are typically found at the research level. So if you’re seeking one of the highest-paying Ph.D. jobs, a research pharmacist position may be right for you.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Pharmacologist is $45.82. The number of jobs annually is 133,90. Over the next decade, openings are expected to increase by 17 percent. That’s much higher than the national average.

#14 ATMOSPHERIC SCIENCE

MEDIAN PAY: $94,570

Another high-paying Ph.D. degree is a doctorate in atmospheric science. Graduates with this degree are experts in Earth’s atmosphere, climate, and weather. Their data is used to develop weather and climate reports, forecasts, and climate change research.

Atmospheric Scientists work inside weather stations, labs, or offices. Sometimes, they do fieldwork, which means examining the weather outdoors. When there are weather emergencies, they may have to work long hours.

According to the U.S. Bureau of Labor Statistics, the hourly pay for an Atmospheric Scientist is $45.47. The number of jobs annually is 10,700. Over the next decade, openings are expected to increase by eight percent.

#15 BUSINESS ADMINISTRATION – MANAGEMENT

highest paying phd business administration

MEDIAN PAY: $93,000

Business Administration degrees are commonly sought-after degrees. Graduates with this degree work in many fields of business and are always in demand. However, a Ph.D. in Business Administration with an emphasis on Management is one of the highest-paying degrees. As a result, these degree holders can work as Management Analysts.

These professionals help a company improve its operations by analyzing the data that the company collects. They can also suggest changes that will help the organization perform better. In addition, they monitor the daily activities of a company to identify areas where the organization can improve its processes. A management analyst may be hired to work in a small office or for a larger corporation.

To pursue the highest paying Ph.D. degrees in this field, it can be helpful to first take master’s degree programs in busi ness.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Management Analyst is $44.71. The number of jobs annually is 907,600. Over the next decade, openings are expected to increase by 14 percent. That is faster than the national average.

#16 GENETICS

MEDIAN PAY: $80,150

A Ph.D. in Genetics makes our list as another high-paying Ph.D. degree. Graduates with this degree can work as Genetic Counselors. These are health care workers who specialize in medical genetics. Genetic counselors look at family history for risk of inherited conditions and genetic disorders. In addition, their job is to educate patients and professionals on genetic diseases and how to get tested for them.

Genetic Counselors counsel patients on the ethical and social issues surrounding genetic disorders. They also help them cope with a genetic diagnosis.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Genetic Counselor is $38.54. The number of jobs annually is 2,400. Over the next decade, openings are expected to increase by 26 percent. That is much higher than the national average.

To get into the field of genetics, students usually begin with a bachelor’s degree in health sciences. Then, they move to master’s in genetics programs. The highest paying phds in this field have years of education, but the rewards are worth it.

#17 PSYCHOLOGY

MEDIAN PAY: $81,040

Not only is a Ph.D. in Psychology a high-paying degree, but it is also a rewarding career path. It is one of the highest levels of education out there. Graduates with these degrees can work in schools, medical institutions, or private offices. Sometimes, psychologists also work in the field of law enforcement.

Psychologists can help people cope with life’s issues and mental health problems better by applying professional training and clinical skills. Using a wide range of techniques, they consider each person’s unique values, behaviors, and circumstances. Psychologists typically start with a bachelor’s degree in psychology and work up to a phd program.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Psychologist is $38.96. The number of jobs annually is 178,900. Over the next decade, openings are expected to increase by eight percent. Those who complete a phd program will have ample opportunities for some of the highest paying phd jobs available.

#18 PHYSICAL CHEMISTRY

MEDIAN PAY: $79,760

A Ph.D. in Physical Chemistry often yields a long career working in laboratories or research. This high-paying Ph.D. often leads to some of the highest-paying Ph.D. jobs. Physical chemists find the highest paying roles in material sciences or other high-tech fields of study.

Researchers in physical chemistry develop new products and processes that drive entire industries. Therefore, the knowledge of chemical reactions gives these graduates one of the highest-paying doctorate degrees. These experts may also find themselves in chemical engineering positions.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Physical Chemist is $38.34. The number of jobs annually is 92,400. Over the next decade, openings are expected to increase by six percent.

#19 IMMUNOLOGY

MEDIAN PAY: $79,260

Another high-paying Ph.D. degree is one in Immunology. Immunologists are medical researchers who focus on disease immunity. People with Ph.D.s in Immunology tend to work in universities, hospitals, research labs, policy roles, and public labs.

Even though you often need both an M.D. and a Ph.D. to become an immunologist, only one of these two degrees is necessary to get a job in the public or private sector. Most Immunologists are also MicroBiologists. In fact, molecular biology is one of the most common courses for immunology phd students.

According to the U.S. Bureau of Labor Statistics, the hourly pay for a Microbiologist is $38.11. The number of jobs annually is 21,400. Over the next decade, openings are expected to increase by five percent.

#20 EPIDEMIOLOGY

MEDIAN PAY: $78,830

A high-paying Ph.D. degree in Epidemiology is an excellent choice. Epidemiology is one of the highest paying phd degree programs you can pursue. Graduates in this field are called epidemiologists. This is one of the fastest-growing career fields on our list. Epidemiology is the study of how health and disease spread among populations.

Epidemiology PhDs get the chance to make something special and unique. They use science to help people heal. As a result, they achieve sustainable and lasting health and wellness both individually and in the population.

According to the U.S. Bureau of Labor Statistics, the hourly pay for an Epidemiologist is $37.90. The number of jobs was 7,800. Over the next decade, openings are expected to increase by 30 percent. That is much higher than the national average. This means that the highest paying phds in epidemiology will have plenty of career options in the future.

#21 ANTHROPOLOGY

MEDIAN PAY: $61,910

While a Ph.D. in Anthropology pays less than the other degrees on our list, it’s still a significantly high-paying Ph.D. Graduates with this degree commonly become anthropologists. An anthropologist studies human diversity.

The field includes biology, history, language, and culture. Anthropologists do mainly research. For example, some anthropologists travel to various parts of the world to study primates in their natural habitats. However, some also teach anthropology at colleges. A Ph.D. in anthropology may also lead to a career in education.

According to the U.S. Bureau of Labor Statistics, the hourly pay for an anthropologist $29.76. The number of jobs annually is 8,500. Over the next decade, openings are expected to increase by seven percent.

NPCO Staff

THIS CONCLUDES OUR RANKING OF THE HIGHEST PAYING PH.D. DEGREES.

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