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Top 10 Highest Paying PhD Degrees in 2024

The highest possible degree you can get in any field is a doctorate or a PhD. Obtaining a doctoral degree can help to greatly further your career, but unfortunately, PhDs aren’t always that easy to earn. The average time a doctoral candidate spends to receive their PhD is anywhere from seven to ten years, and during this time, it also becomes a balancing act.

However, if you manage to earn your PhD, you stand to increase your salary by a significant amount. Chances are, you might also find more opportunities in the future.

The best doctorate degrees are always the ones that you’re passionate about. But, if you find yourself asking, “what should I get my PhD in?,” this list of the highest paying PhDs might just help you out if you’re looking to have a lucrative career.

Looking to get a master’s instead? Check out: Highest Paying Master’s Degrees You Can Get in 2024

Table of Contents

What’s the Best PhD to Get?

If you’re trying to figure out the best-paid PhD, we’ve compiled a list of the top 10 fields with the highest earning potential.

Here are some quick facts:

• The PhD with the highest mid-career salary is in Chemical Engineering , with an average salary of $146,000 . This field also has a pretty good early career, with the average salary sitting at $96,100 .
• When it comes to the highest early career earnings, a PhD in Computer Science  is your best bet since the average salary is $118,000 . This field also has one of the highest $145,000 .

It’s worth noting that your earning potential in any given field can also depend on your location. For example, a doctorate in computer science might earn you more money in San Francisco or other similar tech hubs. The best PhD degrees, at least for earning potential, can depend on where you intend to work.

Here are the best PhD degrees by salary, ranked from lowest to highest.

Of course, the best doctorate degree for you depends on your particular situation. When answering the question “what should I get my PhD in?,” consider your preferences and interests as well as what you want to do in the future.

Top 10 Highest Paying PhD Degrees

The salary figures of the highest-paid PhD degrees depicted in this article were taken from PayScale and BLS.gov , based on data of those with PhDs.

10) Statistics

Salary in Early Career: $105,000

Salary in Mid Career: $131,000

BLS 2020-2030 Job Growth Outlook: 33%, much faster than average

Statisticians collect and analyze data via various statistical methods. They help various businesses, organizations, and even the healthcare industry collect and interpret data so they can solve problems, strategize, and plan ahead.

If you want a career as a statistician, you’ll need to have an undergraduate degree and a master’s degree at a minimum. Having a PhD in Statistics can help increase your earning potential by giving you an advantage over your peers.

The Bureau of Labor and Statistics (BLS) has the job outlook for mathematicians and statisticians growing by a projected 33% rate throughout 2020-2030. According to their website , this is a much faster growth rate than the average growth other fields are experiencing. It appears that statistics  qualifies for the most in-demand PhD degree — on this list, at least. Therefore we can suggest it as the best PhD for jobs, since it’ll be pretty easy to find one once you graduate.

9) Biomedical Engineering

Salary in Early Career: $88,100

Salary in Mid Career: $133,000

BLS 2020-2030 Job Growth Outlook: 6%, on the low end of average

In simple terms, biomedical engineering is the fusion of engineering, medicine, and biology. In particular, in this field, problem-solving techniques and principles used by engineering are applied to the fields of biology and medicine for healthcare. It’s an interdisciplinary field that is growing in popularity over time.

Biomedical engineering is continually evolving thanks to the constant pursuit of knowledge. Because of this, the field continues to grow and can always use people who know theory and are well versed in the life sciences.

Getting a PhD in this field can open up opportunities for you in a variety of areas. You can work in research, at universities, in manufacturing, and even in hospitals. A doctorate is required if you want to work in research or at universities.

The BLS  states that jobs in the biomedical engineering field are projected to grow at a 6% rate over the following seven years.

Salary in Early Career: $93,700

BLS 2020-2030 Job Growth Outlook: 7%, about average

If you’re interested in becoming a physicist, you’ll definitely need a PhD . Most careers for physicists, particularly in research and academia, require you to have a doctoral degree in the field. You can become a research advisor, a physics professor, a (lead) physicist, or a researcher.

According to the BLS , the job outlook for physicists is looking good. The projections are positive, sitting at a 7% increase until 2024, and this rate is on par with the average national growth rate for most occupations.

7) Engineering

Salary in Early Career: $93,600

Salary in Mid Career: $137,000

The world always needs engineers. However, a doctoral degree is not always necessary if you want to work as an engineer — unless, of course, you want to work in research. Research opportunities in the engineering field are only given to PhD candidates or graduates.

You can choose to go for a general track or a specialty such as materials science, mechanical engineering, computer engineering, and chemical engineering. If you have a PhD in engineering , you can take positions like project manager, engineering director, and specialty positions like aerospace engineer or chemical engineer.

6) Physical Chemistry

Salary in Early Career: $73,600

Salary in Mid Career: $138,000

Although the early career salary for PhD graduates of physical chemistry is one of the lowest on this list, it ramps up and is one of the highest-earning on this list in the mid-career.

But what exactly is physical chemistry?

Physical chemistry is a branch of chemistry that applies the theories and techniques of physics to chemical systems (or the study thereof). It’s the study of the behavior of matter on the atomic and molecular levels. Alongside this, physical chemistry is also the study of chemical reactions.

As a physical chemist, you’ll most likely work in labs and research facilities. These research opportunities are awarded only to those with PhDs, and a PhD can also open the door for even more lucrative careers in high-tech or materials science.

The job growth and outlook for physical chemists are below average. However, the average annual wage makes it one of the most profitable ones.

5) Pharmacology

Salary in Early Career: $75,400

Salary in Mid Career: $141,000

BLS 2020-2030 Job Growth Outlook: -2% decline

Pharmacology is the study of drugs and drug actions, or how drugs work within the body. It’s a branch of biology, medicine, and the pharmaceutical sciences. Having a PhD in pharmacology can help you find careers in research.

PhD programs  in this field often build upon other areas, such as biochemistry, molecular bio, cell bio, physiology, and neuroscience. Depending on the track you choose, you can become a researcher in a particular field.

Pharmacology can also lead you to a career as a pharmacist.

The average early career wages for pharmacists are low because it can depend on location or position. For example, pharmacists who work at grocery stores or drug stores often earn less than their entry-level researcher counterparts.

Unfortunately, the current rate of growth for this field is -2%  from 2020-2030. So while there will still be opportunities, it may be harder to find a job.

4) Electrical Engineering

Salary in Early Career: $103,000

Salary in Mid Career: $144,000

If you have a PhD in electrical engineering, you stand to earn quite a good amount of money. Electrical engineering has one of the highest average early-career salaries and one of the highest mid-career to boot.

Electrical Engineering is the application and study of mathematics  and physics combined with electromagnetism, electronics, and electricity. This discipline deals with the research and design of systems, equipment, and devices that use electricity. The results of electrical engineering are seen in day-to-day life. The advances humanity has made in the field have resulted in modern-day staples like the radio and the television.

A doctorate in engineering can help you go into research. If you are more of an idea generator, you can pursue a career in invention and product development. This discipline had plenty of opportunities in various fields such as transportation, computing, manufacturing, and aviation.

3) Computer Science

Salary in Early Career: $118,000

Salary in Mid Career: $145,000

BLS 2020-2030 Job Growth Outlook: 22%, much faster than average

Computer Science is one of the highest-paying fields, both in early and mid-career salary averages. A doctorate in this field allows graduates to become experts in certain computer science subfields. If you want to get a PhD in this field, you’ll need a bachelor’s degree or a master’s in computer science .

If you choose to research in this field, you’ll need a doctorate to qualify for research opportunities. You can also find non-academic careers as an information research scientist, a hardware engineer, programming, and even robotics. It truly comes as no surprise that Computer Science is one of the best-paid PhD programs considering technology continues to progress over the years.

The job outlook for this field is expected to grow by 22%  until 2030, making it one of the best and most in-demand PhDs on this list

2) Organic Chemistry

Salary in Early Career: $83,400

Salary in Mid Career: $146,000

Organic chemistry shares a spot with #1 for the highest-paying PhD, at least for mid-career salaries. However, early wages are lower, which earns this field its #2 spot on this list.

If you want to pursue a career in organic chemistry, earning a PhD in this field can get you a research position, and you may even find yourself leading a research team. However, to qualify for advanced research positions, you’ll need a PhD in the field from an accredited institution whose programs are approved by the ACS or the American Chemical Society.

You may also find jobs in academia as a professor.

1) Chemical Engineering

Salary in Early Career: $96,100

BLS 2020-2030 Job Growth Outlook: 9%, on the high end of average

Sitting at number one on this list is chemical engineering. This branch of engineering combines various fields into one, and you’ll see physics, chemistry, microbiology, biochemistry, and math . This interdisciplinary field helps solve problems related to fuel, food, chemicals, or drugs.

If you earn a PhD in chemical engineering, you may find yourself prepared with expert-level knowledge of the current research findings, practices, and the core fundamentals of the field. After you graduate, you may find opportunities in research and academia and find jobs in areas like biotechnology.

Paying for Your PhD

One obstacle that many doctoral candidates run into is the cost of earning a PhD. If you find yourself wondering how you can afford to pay for your PhD, there are a few common ways you can ease the financial load.

• Student loans  – Many PhD candidates take out student loans to help them afford the tuition and living expenses while working on their doctorate full (or even part) time. You can choose to take out a loan for the full tuition plus living costs, or you can take a smaller loan to cover only a part of the expenses.
• Scholarships, grants, and fellowships  – Savvy PhD candidates seek out scholarships, grants, and fellowship opportunities to help them pay off their tuition and living expenses more easily.

Related: Graduate School Scholarships Guide

• Seek financial support from your employer – Some employers help support their employees’ education by offering partial or full scholarships as they seek higher education. This option may not always be possible, of course, as it depends on the field you are pursuing and whether it has any relation to your current place of employment.
• Teach where you are studying  – One of the most common ways doctoral students earn extra financial support for their studies is through teaching — particularly at the school in which they are studying. Teaching can help students cut down on tuition costs as many educational institutions may offer lower rates for their studies. Some colleges and universities will even offer teaching assistant positions that offer flexibility and enough compensation to cover part of the tuition costs.

Already decided on going to grad school? Here’s everything you need to apply .

Frequently Asked Questions

Which phd has the highest salary.

According to this list of the highest paying PhD degrees, the current most lucrative PhD is Organic Chemistry.

Can PhDs make a lot of money?

Yes, but the road there can be long and winding. There are also many factors that can affect how much you earn, such as your location, industry, position, and even your employer. Additionally, “a lot of money” is relative — what do you consider a lot of money? It may benefit you to check out salary information on the Bureau of Labor Statistics website or on websites like PayScale or Salary.com. Check if the average earnings meet your expectations before making your decision on your PhD.

Is a PhD worth it for salary increases?

The BLS says that in 2020, those with a PhD earned median weekly salaries more than 20%  more than those with just a bachelor’s degree. It can depend on the field and the position, but this does appear to be the case generally. Data also shows that doctorate holders can earn significantly more over their lifetimes. For example, male PhDs earn as much as $1.5 million more  compared to high school graduates. Female PhDs earn $1.1 million more on average.

Do PhDs get paid more than master’s degree holders?

Yes. According to the World Education Services ( WES ), doctorate holders do earn more than those with master’s degrees. However, how much more they earn depends on their field. For example, engineering PhDs only earn 7% more than master’s degree holders in the field. However, in the field of psychology, you can earn up to 33% more if you have a PhD rather than a master’s.

Does job location matter when considering the highest paying doctorate degrees?

In any form of employment, your location matters. In fact, aside from your field or line of work, your location may be the next biggest determinant of your salary. The same is true even if you don’t have a PhD. For example, if you work in the field of information technology or computer science, you’ll most likely have a higher salary in places like San Francisco or Seattle.

You’ll likely find plenty of PhDs in some of the most lucrative industries in a certain city or state. IT and Computer Science PhD holders will often find the highest-paying opportunities in tech hubs  around the country. Geologists will find the highest-paying work in areas rich in natural resources. Researchers, on the other hand, will likely find the best-paying work in areas with research universities and institutions.

Many of the highest-earning jobs for PhDs are located in cities or states where their specific industry is highly supported.

Are there any degrees higher than a PhD?

Nope! The PhD, also known as the doctorate or doctoral degree, is the highest possible academic degree you can earn. PhDs are specialized degrees often earned through research. They demonstrate an extremely high level of understanding of the subject and expertise in your field. A lot of people who earn their PhD usually go on to stay in academia to teach or continue their research.

Choosing the Best Doctoral Degrees

It’s not always about answering the question, “What’s the highest paying PhD?” In the end, choosing the best doctoral degree for you comes down to a matter of preference and interest.

Earning a PhD is seldom easy — but with hard work, you can set yourself up for a bright future ahead with a lucrative yet fulfilling career.

Chriselle Sy

Chriselle has been a passionate professional content writer for over 10 years. She writes educational content for The Grad Cafe, Productivity Spot, The College Monk, and other digital publications.  When she isn't busy writing, she spends her time streaming video games and learning new skills.

• Chriselle Sy https://blog.thegradcafe.com/author/chriselle-sy/ When to Apply for Grad School: Easy Monthly Timeline [2025-2026]
• Chriselle Sy https://blog.thegradcafe.com/author/chriselle-sy/ Best Laptop for Programming Students in 2024
• Chriselle Sy https://blog.thegradcafe.com/author/chriselle-sy/ The Best Academic Planners for 2024/2025
• Chriselle Sy https://blog.thegradcafe.com/author/chriselle-sy/ Graduate Certificate vs Degree: What’s the Difference? [2024 Guide]

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Highest-Paying Doctoral Degrees

Data Summary

Whether you love learning for the sake of it or have a sense of the specific career you want, you might find yourself considering a doctoral degree. There’s no doubt that adding a professional title to your name can be extremely rewarding, but do the demands on your time and energy pay off?

Advanced degrees come with a massive investment. Options, such as online doctoral programs , can make graduate school more flexible and accessible. It’s also worth noting that grad school alternatives exist, but the prestige that comes with earning the title “doctor” is often matched with a competitive salary.

Featured Online Ph.D. Programs

13 of the highest-paying doctoral degrees, 1. systems engineering.

Professionals in the systems engineering field study an organization’s current computer systems and procedures and work to design more efficient and effective solutions. This requires in-depth knowledge of engineering, as well as computer science or information systems.

The Bureau of Labor Statistics (BLS) projects employment for engineers to grow 5% between 2023 and 2033. For reference, the average projected growth for all occupations is 4%.

• Median Salary (2023): $102,660
• Projected Job Growth (2023-2033): 7% (faster than average)

2. Economics

Due to an increasing dependence on big data analytics, businesses rely increasingly on economic forecasting. Career economists predict business optics, sales, and market trends. Their insight helps businesses strategize about pricing and advertising. Top-paying industries for economists include management, science, and tech consulting services.

• Median Salary (2023): $115,730
• Projected Job Growth (2023-2033): 5.1% (faster than average)

3. Electrical, Electronics, Communications Engineering

Electrical and electronics engineers develop devices and systems that use electricity. They manage everything from the initial stages of design to testing and supervision of product integration. These engineers play a key role in developing and applying sophisticated electronics, solar arrays, semiconductors, and communications technologies.

• Median Salary (2023): $106,950
• Projected Job Growth (2023-2033): 9.1% (faster than average)

4. Information Science and Studies

An interdisciplinary field, information science combines computer science, library science, and information management. It is the study of how information is created, organized, stored, and used. With increasing demands for new and better technology, there is a great need for new solutions to data management.

• Median Salary (2022): $145,370
• Projected Job Growth (2023-2033): 26% (much faster than average)

5. Mechanical Engineering

Mechanical engineers design power-producing machines such as generators, internal combustion engines, and steam and gas turbines. They possess knowledge about how these machines work, combining physics and math. As one of the oldest branches of engineering, mechanical engineers are projected to be in high demand over the coming years.

• Median Salary (2023): $99,510
• Projected Job Growth (2023-2033): 11% (much faster than average)

6. Computer and Information Sciences (General)

With the BLS projecting a much faster growth rate for computer and information sciences roles than for all other occupations, professionals in this field are in high demand. As computer interfacing becomes more integrated into daily life, specialized knowledge about programming, data storage and management, and software integration is more necessary than ever, for businesses and individuals alike.

• Median Salary (2023): $145,080
• Projected Job Growth (2023-2033): 25.6% (much faster than average)

7. Computer and Information Technology Administration and Management

Computer tech administrators, or IT managers, help keep companies up to date with their technology. They construct business plans, oversee network security, and direct online operations. Leading teams within an organization, they might install or upgrade hardware and software, work on programming and systems design, or build websites.

• Median Salary (2023): $169,510
• Projected Job Growth (2023-2033): 17.4% (much faster than average)

8. Pharmacy, Pharmaceutical Sciences, and Administration

Like medical school, pharmacy school typically requires four years of training from an accredited Pharm.D. program. Strong applicants have undergraduate coursework in anatomy, physiology, physics, and statistics, as well as a bachelor’s degree in biology or chemistry.

Once licensed, pharmacists have several options for a career path. A Pharm.D. can lead to positions working directly with patients, more industry-related jobs in pharmaceuticals, or consulting roles for healthcare or insurance providers.

• Median Salary (2023): $136,030
• Projected Job Growth (2023-2033): 5.4% (average)

9. Registered Nursing, Nursing Administration, Nursing Research, Clinical Nursing

Doctoral programs in nursing train students to ensure and improve the quality of patient care in either leadership or research positions. Research in these programs typically covers evidence-based practice, quality improvement, leadership, policy advocacy, informatics, and systems thinking. Recent nursing shortages have created demand for professionals in the field.

• Median Salary (2023): $86,070
• Projected Job Growth (2023-2033): 6% (faster than average)

10. Dentistry

Dentists can practice with a DDS or DMD degree. Specializations, including orthodontics, prosthodontics, and oral and maxillofacial surgery, typically require an additional 2-6 years of training in a residence program. The growing popularity of cosmetic dentistry explains the steady demand for dentists and specialists.

• Median Salary (2023): $166,300
• Projected Job Growth (2023-2033): 4.8% (average)

11. Physics

Physics research can take different paths, including within applied physics and theoretical physics. On the theoretical side, physicists use complex machines to learn more about the properties of matter and energy. Graduates can find many opportunities in applied physics, working on advancing the use of existing theories to develop new technologies.

• Median Salary (2023): $155,680
• Projected Job Growth (2023-2033): 7.2% (faster than average)

12. Aerospace, Aeronautical, and Astronautical Engineering

Commonly known as “rocket scientists,” aerospace engineers design, develop, and test flight vehicles of all kinds. Technological advancements have made outer space increasingly accessible. The faster-than-average growth of this field may be due to growing commercial interest in using drones for new projects, such as forest fire prevention, and personal interest in space travel.

• Median Salary (2023): $130,720

13. Bioethics and Medical Ethics

Bioethics is an interdisciplinary field combining biology, technology, and medicine. Advancements in medical technologies create new moral dilemmas, such as questions about the fair distribution of resources, genetic modification, or the use of human subjects in research. Bioethicists help write policies and guidelines for use in hospitals and clinics to ensure ethical standards are met.

• Median Salary (2022): $120,330
• Projected Job Growth (2022-2032): 10% (much faster than average)

Did You Know… Wondering why medicine ranks low on the list?

This may be due to when these early-career salaries were measured. Most careers in medicine require professionals to complete residencies and internships — sometimes lasting 3-9 years. Data for this report measured median salaries four years after graduation. So, some positions that earn higher wages later in their careers don’t appear.

Residents typically earn lower salaries right after graduation, but once their training period is complete, earning potential jumps to the top. According to the BLS, anesthesiologists, cardiologists, and surgeons, for example, all earned median salaries of over $239,000 in 2022.

Top-Paying Doctoral Degrees: Full List

Recent data from the U.S. Department of Education shows the highest-paying doctoral degrees. This calculation is based on the median salary in a field of study four years after graduation. To be included, individuals had to have completed their degree, be currently employed, and not be currently enrolled in school.

Note: For disciplines/fields marked with an *, fewer than 20 doctoral programs in the field reported median incomes for graduates four years after graduation.

Did You Know… What’s the difference between a doctorate and a Ph.D.?

Often used interchangeably, both doctorate and Ph.D. programs grant the title “doctor” and are doctoral degrees. They both signal the highest level of training in a field. What separates them is the type of training typically offered.

Doctoral programs tend to prioritize applied knowledge and professional skills. They train students to use research techniques in a professional setting.

By contrast, Ph.D. programs tend to prioritize high theory and academic research. In fact, “Ph.D.” means “doctor of philosophy.” These programs train students to teach, conduct research, and generate original knowledge.

How Much Do Other Popular Ph.D.s Pay?

Take a quick glance at the median salaries for doctoral degree programs in the humanities, natural and social sciences, and public services.

• History: $64,750
• English: $61,990
• Music: $49,470

Natural Sciences

• Biology (General): $85,470
• Applied Mathematics: $83,520
• Neuroscience: $70,450

Public Services

• Law: $95,540
• Public Health : $94,830
• Social Work: $73,930

Social Sciences

• Psychology (General): $88,260
• Sociology: $83,850
• Anthropology: $62,310

Behind the Numbers

Unless otherwise stated, we sourced early-career median salary figures from the U.S. Department of Education’s College Scorecard database. Note Reference [1] We relied on BLS data for projected employment growth rates. [2]

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Highest Paying Doctorate Degrees [2024 Guide]

We’ve identified the 25 highest paying doctorate degrees. Compare salaries and job prospects.

Completing a PhD may open up doors in terms of career advancement. Plus, it may not take as long as you think to complete if you enroll in the shortest doctoral programs .

The following list contains the highest paying doctorate degrees along with career outlook and job growth statistics.

Editorial Listing ShortCode:

25 Highest Paying Doctorate Degrees

All career statistics and salary data are provided by the U.S. Bureau of Labor Statistics .

Click on the area of study you’re interested in to jump to that section.

Aerospace Engineering

Chemical engineering, pharmacology, business administration, cybersecurity, electrical engineering, data science, biochemistry, information security assurance, biomedical engineering, information technology and computer science, occupational therapy, criminal justice, engineering, organic chemistry.

While all of these industries are growing, some provide better job prospects than others.

• Annual Median Salary (Bureau of Labor Statistics): $208,000
• Job Growth: 4%

One of the more specialized high paying doctorate programs is in immunology. Immunology is the study of disease prevention and immunity. Due to the specialized nature of the study here, jobs are typically well paid and much more specific.

A person who has studied immunology may be expected to work in research or academia but is also likely to land high-paying roles within the medical industry and at hospitals. The demand for this area of expertise is also rising faster than the average job growth, meaning there should be plenty of opportunities for graduates.

A PhD in immunology is a lot of hard work and is, therefore, suited to someone who already has considerable experience working in the medical industry. Those with an academic background in medicine should consider applying for an immunology program.

• Annual Median Salary (Bureau of Labor Statistics): $129,850
• Job Growth: 7%

Of the three main sciences, physics can be the one that is the most fruitful for taking a doctorate. People who take a PhD in physics are likely to land themselves a position as either a researcher or a professor.

There are also several other high paying positions that are possible for someone who takes this career path, including more specialized roles or becoming lead physicists and consultants.

Physics is also one of the job markets that is predicted to see a considerable amount of growth for the next 10 years. Pursuing a physics doctorate can be perfect for someone who already has experience in physics or someone who already has either a bachelor’s or master’s degree in the subject combined with some practical experience.

• Annual Median Salary (Bureau of Labor Statistics): $118,610
• Job Growth: 3%

Aerospace engineering is a field that would likely attract those who already have a background in either science or engineering. It is one of the fastest growing industries in the world, and demand for jobs is expected to increase as the years roll by. So the length it takes to get a PhD should be taken into consideration so you can quickly enter this field during its booming growth.

The doctorate focuses on the engineering of various different types of spacecraft and can be incredibly demanding. According to the Bureau of Labor Statistics, the salary potential for this field is as high as $171,220.

• Annual Median Salary (Bureau of Labor Statistics): $110,860

Math may not be the glamorous subject to study at doctorate level, but it can open up a wide range of potentially lucrative career options.

Math can allow students to work in various sectors of the economy and business, and they may also work in research or as a math lecturer or professor at a top university.

• Annual Median Salary (Bureau of Labor Statistics): $109,760
• Job Growth: 5%

Taking a doctorate in management can be a logical step in the career of someone who has a history of working in business, project management, or the economy as well as several other sectors.

Earning this doctorate can open up chief executive roles within companies and roles like chief operations officer and supply chain management. It may also lead to regional and national management roles.

• Annual Median Salary (Bureau of Labor Statistics): $108,540

Another engineering-based field that presents doctorate students with some big money career options is chemical engineering. The field combines a number of different disciplines, including all of the sciences, math, and statistics, as well as engineering.

It is a complex doctorate to take, but the rewards may be worth the effort, with the Bureau of Labor Statistics showing salaries up to $168,960 available in this field.

• Annual Median Salary (Bureau of Labor Statistics): $108,350
• Job Growth: 14%

One of the most popular PhDs to take is in economics. Economics is a social science that studies and theories about the production and consumption of goods and the effect that this has on society and the economy.

Taking a PhD in economics may open up a lot of doors. Working in the financial sector is usually lucrative, and a doctorate in economics can help give you an edge over competitors in what is a notoriously feisty industry. Top earners can make around $198,230 per year.

Economics analysis is a skill that is highly sought after, especially in the medical, legal, and education sectors.

While on the face of it, some people may believe that studying economics leaves you consigned to an office for the majority of your working life, the reality is that it can open up a lot of doors in a lot of different sectors. It may also provide you with a lot of travel opportunities and chances to meet new people.

A doctorate in economics may be perfect for someone who already has some experience in the field or for someone who has studied economics, math, finance, or business to a higher level and wants to take the next step in their academic and professional career.

• Annual Median Salary (Bureau of Labor Statistics): $107,270
• Job Growth: 6%

Pharmacology is big business these days, and taking a doctorate in the subject may lead to some lucrative opportunities. It is expected that someone who wants to study pharmacology will have a background in the subject with a master’s degree being heavily preferred.

There are a lot of pre-requisites for getting onto a pharmacology doctorate program, but the Bureau of Labor Statistics is showing salaries going as high as $164,980.

• Annual Median Salary (Bureau of Labor Statistics): $103,650

Getting a doctorate in business administration can open up a lot of doors. Students who end up taking their doctorate in business administration often end up working as leading and chief executives as well as entrepreneurs and financial advisors.

According to the Bureau of Labor Statistics, salaries for someone with a doctorate in this field can be as high as $208,000. It can be ideal for someone who has a background in business or economics who wants to take the next step in their career.

• Annual Median Salary (Bureau of Labor Statistics): $103,590
• Job Growth: 31%

As the world of IT continues to grow, so does the demand for more and more cybersecurity. The field is one of the fastest-growing in the world, and getting a doctorate in the subject may land you a range of different high paying jobs.

According to the Bureau of Labor Statistics, roles like IT managers can offer doctorates a salary of up to $208,000. This sector is also constantly growing, and as such, the demand and the salaries should continue to grow as time passes. Some colleges even offer short certificate programs that pay well , providing a faster route to lucrative careers for those seeking quicker options.

• Annual Median Salary (Bureau of Labor Statistics): $100,830

When it comes to job demand, electrical engineering is one of the safest career paths to go down. Electrical engineering has a huge impact on our day-to-day lives.

Most of our day-to-day electrical appliances exist as a result of electrical engineering, and taking a doctorate in the field may open the door to some pretty lucrative research and project management positions. It is advised that someone who takes a PhD in electrical engineering already have practical experience in the field.

• Annual Median Salary (Bureau of Labor Statistics): $98,490

A doctorate in education can open up a lot of different career options in that sector. A lot of doctors of education end up working in either research or in top positions at schools as principals and superintendents.

According to the Bureau of Labor Statistics, the average salary for someone working in education administration with a doctorate is around the $199,400 mark. A number of doctor of education programs do not require a dissertation.

• Annual Median Salary (Bureau of Labor Statistics): $98,230

Data is quickly becoming the most valuable commodity on the planet, and as such, the demand for data specialists and researchers is growing at an impressive rate.

Data science doctorates offer a gateway into these positions, and they usually come with some pretty high salaries. According to the U.S. Bureau of Labor Statistics, salary for a data scientist can go as high as $165,230, and with this field ever-expanding, the demand for these positions should continue to increase.

• Annual Median Salary (Bureau of Labor Statistics): $94,270

Biochemists study the chemical and physical makeup of living organisms. Due to the specialized nature of the subject, research positions in this sector typically pay incredibly well.

According to the Bureau of Labor Statistics, biochemist doctorates can start out at around $67,710 but can increase up to $169,860 or more. This doctorate may suit someone with a background in chemistry or some other science discipline.

• Annual Median Salary (Bureau of Labor Statistics): $92,870

Information assurance is a new discipline that has been created as a result of the times we live in. Information assurance is effectively another type of cybersecurity that is designed to protect people’s data from third parties and other potentially dangerous sources.

A background in any sort of computer or data-related field can be ideal for getting onto an information assurance course. Due to the increasing demand for data protection, jobs in this sector can be particularly lucrative, and the demand for these jobs is expected to increase as time rolls on.

The demand for experts in this industry is very high and is only predicted to grow over the next decade.

• Annual Median Salary (Bureau of Labor Statistics): $92,620

Biomedical engineering is becoming an incredibly popular field of research. It is an ever-growing and developing industry, and as such, the demand for expertise in the area is on the rise.

Getting a PhD in biomedical engineering is likely to secure you a lucrative research job for a university or a job in a hospital or the medical industry. According to the Bureau of Labor Statistics, an average salary in this field for a senior position ranges from $127,980 to $169,860.

• Annual Median Salary (Bureau of Labor Statistics): $92,270
• Job Growth: 35%

Statistics is one of the most versatile doctorates available today. Statistics are used in a wide range of different sectors, including finance, research, business, health care, government, and many others.

A doctorate in statistics can be ideal for someone who has a background in math or business. According to the Bureau of Labor Statistics, the top salary for someone working in statistics can be as high as $150,840.

• Annual Median Salary (Bureau of Labor Statistics): $91,250
• Job Growth: 11%

The world of IT is constantly growing, and as it does, the demand for experts grows with it. Getting a doctorate in information technology and computer science can be an incredibly lucrative career move, with the Bureau of Labor Statistics showing top earners taking home as high as $208,00.

The jobs that can be accessed, such as chief technology officers or research roles within the industry, tend to be incredibly well-paid. This doctorate attracts people who have backgrounds in IT-related fields, such as computer science or computer programming.

• Annual Median Salary (Bureau of Labor Statistics): $86,280
• Job Growth: 16%

For someone who already has experience working in occupational therapy, earning a doctorate in the field can be a huge benefit. Not only can it open the door for them to move up in the industry, but it can also expand their knowledge of the subject area.

It can provide them with theory-based research while also working on their leadership and management skills. According to the Bureau of Labor Statistics, occupational therapists holding a doctorate degree may reach a salary as high as $122,670.

The job growth for this doctorate is also incredibly high, which means it may be an excellent career path to enter in terms of job security.

• Annual Median Salary (Bureau of Labor Statistics): $86,110

The number of career options that are available to someone who has a doctorate in criminal justice is typically vast. Working as a criminologist, a criminal justice researcher, or a federal law agency admin can earn graduates a lot of money.

This course of study is best suited for someone who already has real-world experience working in the criminal justice or law sector.

• Annual Median Salary (Bureau of Labor Statistics): $83,160

Engineering jobs are almost always in demand, and while there are a lot of high paying jobs available for those who have an undergraduate or master’s degree, taking a doctorate in the field can really help you advance your career.

An engineering degree is already one of the highest paying associate degrees , highest paying bachelor degrees , as well as one of the highest paying masters degrees , but the doctorate can be perfect for someone who already has experience working in engineering and wants to take that next step in their career.

A director of engineering job title and other project management positions may offer some very high salaries, about $208,000 or more, according to the Bureau of Labor Statistics.

• Annual Median Salary (Bureau of Labor Statistics): $82,180

With the stigma around mental health finally disappearing, the demand for jobs in psychology is on the rise. While a normal degree or masters in psychology may allow you to get jobs as a psychiatrist or a psychologist, higher-paying positions can become available following a doctorate.

It may also open up roles in research and as a university lecturer in the subject. The doctorate is suited to someone who already has their masters in psychology or who has a significant amount of experience working in the field.

• Annual Median Salary (Bureau of Labor Statistics): $80,790
• Job Growth: 9%

Getting a degree in philosophy can potentially lead to a surprisingly lucrative career in research or working as a lecturer. The doctorate is suited for someone who wants to work in research and who has a background in philosophy or religious studies.

According to the Bureau of Labor Statistics, salaries in this field are around $80,790 per year working in a research role, and up to $180,360 for college professors.

• Annual Median Salary (Bureau of Labor Statistics): $79,300

Organic chemistry, perhaps more than any of the other sciences, can open up a lot of different career options for doctorates. As well as research and academic positions, someone who studies organic chemistry may be able to land a job in a number of different areas, including geology, the pharmaceutical industry, and engineering.

Organic chemistry is a notoriously difficult subject to study, though, so it is vital that you have a solid background in chemistry and some work experience before attempting to join the program. According to the Bureau of Labor Statistics, salaries can go as high as $139,650 in this field.

• Annual Median Salary (Bureau of Labor Statistics): $69,000
• Job Growth: 2%

A doctorate in English can open a range of different academic doors for potential students. A PhD in English may be perfect for someone who already has an academic background in the subject and can also be perfect for qualified teachers and writers looking to take the next step in their career.

According to the Bureau of Labor Statistics, a doctorate in English may qualify you for a potential career in a lecturing position with salaries as high as $180,360, as well as positions within the publishing industry.

What Are the Different Types of Doctorate Degrees?

There are six common types of terminal degrees.

• Doctor of Philosophy (Ph.D.) – Traditionally reserved for those who want to remain in the world of academia, Ph.D. degrees focus on maximizing your ability to impart this advanced knowledge to incoming students. Outside of teaching, Ph.D. candidates also focus on pushing the limits of research and theoretical study within their chosen fields.
• Doctor of Business Administration (DBA) – The DBA experience is all about turning your terminal research in the areas of finance, marketing, accounting, and other related fields into applicable real-world skills. DBA graduates traditionally work in the corporate sector as executive officers and other ranking members of various managerial teams.
• Doctor of Psychology (PsyD) – PsyD students aim to provide clinical services within a wide range of settings, including group, familial, medical, scholastic, and even corporate environments. Earning this degree can give you the power to serve as a practicing clinician or specialized counselor.
• Doctor of Education (EdD) – Capturing an EdD degree is the first step toward a leadership role within the corporate and administrative side of the education field. Working as a principal, district supervisor, or even regional superintendent all fit into the professional path of this degree.
• Doctor of Social Work (DSW) – If you’re interested in educating others on the best practices and leading theories of modern social work and community interaction, then a DSW program could be your option. Holders of this degree research and educate others in the social work field via hands-on training in the classroom and the office, as well as provide answers and guidance in unique or exceptional social issue cases.
• Doctor of Public Health (DPH) – Like most of the other degrees in this review, earning a DPH is all about the desire to lead others in a chosen workplace environment. In this case, that means maintaining residency as an administrator or public health coordinator at a hospital or a similar clinical setting.

The type of doctorate degree you will want to earn depends on your career goals and primarily whether you want to teach the subject or continue working in your field.

Campus or Online: Which One Is Right for You?

It’s no big secret that whichever doctorate route you choose, you will most likely be rewarded for your hard work and research via ample compensation. However, you can make this process a little easier on yourself by focusing on a path – either online or on-campus – that suits your unique needs and daily requirements.

While the appeal of the traditional college experience is the major selling point for the on-campus approach, working on your degree from home is a flexible alternative that can shape and mold itself to your current personal and professional schedule by allowing you to work on your research and coursework at your own pace.

Adding in that these doctorate programs often waive Graduate Record Examination (GRE) minimum scores based on your GPA, as well as reduce or completely remove residency requirements, is further proof that this approach is at least worth your consideration as you plan out your academic future.

Questions Related to Earning a Doctorate

Here are our answers to a few more questions you might have.

How Much Do PhD Graduates Earn?

PhD Graduates make on average close to $100,000, with some job positions paying nearer the $70,000 mark and others going well about $208,000 (Bureau of Labor Statistics).

There may be some who question whether it is worth taking the time to invest in a PhD. Doctorate programs require a lot of time and effort, but studies suggest that PhD students typically earn more and find it easier to attract higher-paying jobs than those with just an undergraduate or a master’s degree.

What Are the Highest Paying Degrees?

A lot of degrees, including online degrees , can lead to well-paying jobs. The more specialized a degree is in a certain field, the higher the chances are that it will be well paying. These degrees currently tend to be those in the engineering sector, as these are the ones that offer the most in-demand jobs.

What Is the Highest Paying PhD Degrees?

Once again, this one will depend on how specialized your PhD is and how in-demand that expertise is at a given time. Engineering PhDs tend to be evergreen, while there is an increasing demand for those with PhDs and knowledge in computer science and other IT related subjects.

PhDs usually provide those who have them with a lot of the highest paying jobs opportunities.

Are There Any Degrees Higher than a PhD?

No, there are no higher degrees than a PhD.

A PhD, also regularly referred to as just a doctorate, is as high as you can go academically. It is a specialized research doctorate that demonstrates a high level of expertise in a field. Most people who obtain their PhD tend to stay on at universities as either a member of a research team or as a lecturer.

Do you need a masters to get a PhD? While many PhD programs require you to earn a masters first, it is possible to earn your PhD without having earned a masters. These are the direct entry bachelor’s to PhD programs offered by some universities.

Getting Your Doctorate Degree

It is important that you take the time to do your research into what doctorate will help your career the most. Once you have done this, you can begin to find the right university and program for you and begin the next step in your academic and professional career.

Now that you understand your career prospects and doctorate opportunities, it’s time to lay out the blueprint for a successful future.

Outside of conducting research on each of the areas that interest you, feel free to use the search tool below to find accredited universities that offer online doctoral programs in your chosen field.

When paired up with the rest of what you’ve learned here, there’s nothing that can stop you from finding the right school – and program of study – to fit your personal and professional goals moving forward.

Let’s find the perfect program for your goals—just click “Find My Program.”

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10 Highest Paying PhD Degrees 2024

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What are the highest paying Ph.D. degrees? Some of the answers might surprise you.

Key Takeaways :

• The top two highest-paying Ph.D. degrees are Ph.D. in Computer Science (#1) and Ph.D. in Economics (#2).
• The ranking considered the median earnings of the top 10% of wage earners in each field associated with the Ph.D.
• Computer science Ph.D. holders work in cutting-edge research areas like artificial intelligence, data science, and quantum computing.

For this ranking we only considered the highest paying Ph.D./ Doctoral level programs. This means you won’t find lawyers or doctors on this list, because M.D. and law degrees are different from Ph.D.s; while you can earn a Ph.D. in law, it’s not required in order to work in any position at the highest-paying levels of the field. There are, however, areas of the medical field that don’t require M.D. degrees and instead require other kinds of doctoral degrees; these areas were included. For this ranking, we looked at the median earnings of the top 10% of wage earners in each field associated with the Ph.D. in question. While the ranking includes information about job growth rate and the number of jobs projected to be added over the next ten years, the top 10% salary is the only determining factor when deciding the position of each Ph.D. in the ranking. We hope this ranking of the top ten highest paying Ph.D. degrees will help you determine whether or not earning a Ph.D. in one of these fields is the right step for your career.

Featured Programs

Detailing the highest paying doctorate degrees, #1. ph.d. in computer science.

You will often find computer science Ph.D. holders working in cutting-edge computer science research in artificial intelligence, data science, quantum computing, cryptography, programming languages, and robotics. Most people are aware of programmers and roughly what their job entails. Computer science researchers create the languages that programmers use to develop applications. At the core, computer science researchers tend to be devoted to understanding how to solve very specific, complex problems that involving technology and how we use it to automate tasks. You can find high-level computer science researchers running their own companies, working for the government in a variety of contexts, working for private corporations, and teaching and conducting research at just about every major university in the United States. In many cases, they do more than one of those things at the same time.

• Top 10% Salary: $189,780
• 2018-2028 Projected Job Growth Rate: 16%
• 2018-2028 Job Number Projected Growth: 5,200

#2. Ph.D. in Economics

Economics is one of the most ambitious fields of study. It attempts to combine the elements of behavioral science, statistics and probability, game theory, and ethics to understand human behavior, make predictions about market trends, and make recommendations about economic policy in order to solve economic problems. It’s not an easy job. Most of economics involves analyzing historical economics and using that information to create theories which explain the observed behavior, devising experiments to determine whether or not such behavior is reproducible, factoring in issues of cultural differences, and overall, attempting to determine what actions the government can take or not take to improve the economic well-being of society and the individual. Most economists focus on one specific area of economics and collaborate with people who focus on other areas, because the subject is too big for one person to study broadly.

• Top 10% Salary: $185,020
• 2018-2028 Projected Job Growth Rate: 8%
• 2018-2028 Job Number Projected Growth: 1,700

#3. Ph.D. in Nursing

Nursing as a field has continued to grow and expand greatly over the past century or so since modern nursing practices were first established. The two highest-paid types of nurses are nurse practitioners and nurse anesthetists. Nurse practitioners serve as primary care providers and are very similar in the way they function to doctors. They assess patients, develop treatments, prescribe medications, and order labs, all while working independently. Nurse anesthetists administer anesthesia for surgical procedures, and provide patient care at all stages of the surgical process, essentially functioning the same as an anesthesiologist. For these advanced positions you might want to consider one of the affordable online DNP programs we feature in this ranking .

• Top 10% Salary: $184,180
• 2018-2028 Projected Job Growth Rate: 26%
• 2018-2028 Job Number Projected Growth: 62,000

#4. Ph.D. in Pharmacology (Doctor of Pharmacy)

It’s not easy to become a pharmacist. Once you earn your Ph.D., you have to pass the state licensure and law exams. It’s also not a commonly available degree. Out of over 5,000 colleges and universities in the United States, there were only 128 fully accredited Pharm.D. programs accredited by the Accreditation Council for Pharmacy Education. It’s incredibly important to ensure you attend an accredited Pharm.D. program. The Ph.D. typically takes 4 years to finish. However, there are some highly-focused programs that allow high school graduates to earn their bachelor’s and graduate degree/degrees in about six years of intensive full-time study. The most common employers of pharmacists are pharmacies and hospitals, and grocery/retail stores with pharmacies attached or pharmaceuticals departments.

• Top 10% Salary: $162,900
• 2018-2028 Projected Job Growth Rate: 0%
• 2018-2028 Job Number Projected Growth: -100

#5. Chemistry Ph.D.

At its core, chemistry is the study of the substances that make up the world around us. Chemists study, particularly, the interactions of those substances. There are different areas of specialization within chemistry, usually focusing on a specific kind of material or specific applications of materials. These include analytical chemists, forensic chemists, inorganic chemists, medicinal chemists, organic chemists, physical chemists, and theoretical chemists. The work chemists do has an incredible impact on our society, as it is their experimental research that leads to the development of everything from plastics to medicines to pollution control technologies.

• Top 10% Salary: $157,780
• 2018-2028 Projected Job Growth Rate: 4%
• 2018-2028 Job Number Projected Growth: 3,500

#6. Ph.D. in Physics

Most high-level physics jobs are in research, whether in an academic, corporate, or government setting. In many cases, physics research impacts all three of those sectors on some level. In most cases, the practical implications of physics research aren’t clear until years, sometimes decades, or even centuries later. In the case of theoretical physics, it can take decades just to develop the technology required to perform the experiments to test a hypothesis. One of the best examples of the nature of the study of physics is gravity. Sir Isaac Newton developed the theory of gravity centuries ago. And still to this day, little is known about this force. We know it exists, and a little bit about the effects it has on earth and in our solar system. But we know very little about what gravity is, and how and why it works the way it does. There are certainly more concrete areas of physics to focus on than theoretical physics, however. Medical physicists, for instance, tend to work in healthcare, using physics to develop new medical technologies. These technologies vary from radiation therapies to imaging technologies.

• Top 10% Salary: $148,110
• 2018-2028 Projected Job Growth Rate:
• 2018-2028 Job Number Projected Growth:

#7. Engineering Ph.D.

Engineering is certainly one of the highest-paying fields in the world, currently. However in order to prevent this ranking from featuring six or seven engineering degrees, we found data from the Bureau of Labor Statistics that combined the relevant numbers for all engineering fields. The five highest-paying engineering specialties are petroleum engineers, computer hardware engineers, aerospace engineers, nuclear engineers, and electronics engineers. People holding an engineering Ph.D. will often be found working at the top levels of the field in research, consulting, and in executive R&D positions.

• Top 10% Salary: $147,000
• 2018-2028 Job Number Projected Growth: 139,300

#8. Mathematics/Statistics Ph.D.

Mathematicians and statisticians work in an incredibly broad range of fields. Of course, many work in academia, developing new mathematical theories, conducting research, and building upon the work of mathematicians past. But you will also find them in finance, on Wall Street, working on high end computer and artificial intelligence research, cryptography, economics, behavioral sciences, and in the data analysis actuarial sciences and risk assessment.

• Top 10% Salary: $146,770
• 2018-2028 Projected Job Growth Rate: 30%
• 2018-2028 Job Number Projected Growth: 14,400

#9. Ph.D. in Immunology

Immunologists are a highly specialized and focused subset of microbiologists. The salary and job growth rate data we used from the Bureau of Labor Statistics is for microbiologists as a whole, as there is no separate category for immunologists specifically. Immunologists focus on the area of microbiology having to do with human immune systems and their interactions with various microorganisms like bacteria and viruses. Immunologists work primarily in research, often in the development of vaccines. Some immunologists also hold medical degrees, but it is only necessary to have both in very specific situations.

• Top 10% Salary: $134,000
• 2018-2028 Projected Job Growth Rate: 5%
• 2018-2028 Job Number Projected Growth: 1,100

#10. Ph.D. in Psychology

Psychology is a broad field encompassing areas like clinical psychology, developmental psychology, forensic psychology, industrial-organizational psychology, rehabilitation psychology, and school psychology. Psychologists, even those who work in academia, tend to specialize and have practiced, and now teach and conduct research in one of these areas of psychology. The vast majority of psychologists are clinical psychologists, making up 162,000 out of 181,700 psychologists. Clinical psychologists are responsible for the assessment, diagnosis, and treatment of emotional, behavioral, and mental disorders. Clinical psychologists are only permitted to prescribe medication in Idaho, Illinois, Iowa, Louisiana, and New Mexico. In all other states, they tend to work closely with medical professionals to determine appropriate treatment for patients. If you are interested in affordable and convenient programs, we’ve got an article here featuring great online phd in psychology programs .

• Top 10% Salary: $132,070
• 2018-2028 Projected Job Growth Rate: 14%
• 2018-2028 Job Number Projected Growth: 26,100

FAQ on Highest Paying Doctorates

When is a good time to earn my ph.d..

The best answer to this question is when it makes the most sense for you. In many cases, rushing straight through undergraduate, graduate, and postgraduate programs is not the best course of action. It’s often better to earn your master’s or Ph.D. once you have some experience in your field. This is because in many cases, doctoral education is highly individualized. Your learning at this point is mostly driven by where your interests lie, and your research will be determined by questions you want to answer or problems you want to solve. And in many cases, it takes time spent working in a profession for you to determine where your interests lie and what those questions or problems are. For instance, almost every job in engineering can be done by somebody with a master’s degree. Deciding to earn a Ph.D. in engineering should be driven by a specific need or interest.

There are, of course, exceptions, including some of the fields featured in this ranking. Theoretical physicists, economists, and mathematicians, for instance, do highly theoretical work, and the academic setting tends to be the main place they can work to support themselves while conducting their research. Psychologists will often find they want or need a Ph.D. in order to open their own practice.

Does the school I attend for my Ph.D. matter?

It depends. When applying for highly competitive research positions in areas like computer science, physics, economics, or other sciences, a Ph.D. from Stanford or MIT might get you a lot farther than a Ph.D. from a less prestigious school. However, other factors also matter. The quality of your published work, your professional accomplishments, and your aptitude all factor in as well.

For professions like engineering, nursing, and psychology, the quality of the program is still important but the prestige of your university is less of an issue.

How do I pay for my Ph.D.?

There are, generally speaking, three main ways to pay for your Ph.D. program. The first is that the corporation or organization you work for might pay for it. Most companies have tuition assistance programs designed to help employees with the cost of professional development, including earning advanced degrees, especially if the organization you’re working with is conducting research.

The second is to teach at the university where you are earning your degree. Ph.D. students are often also professors. In many cases, this allows them to earn money by teaching while also earning their Ph.D. for either greatly reduced tuition or for free. This is how most people who plan to teach and conduct research in academia pay for their Ph.D. programs.

The third is to pay for it through a combination of institutional and federal financial aid, loans, and out of your own pocket.

Can I do my Ph.D. online?

It depends on the field in which you’re earning your degree. Online Ph.D. programs are pretty rare. They are almost nonexistent in the sciences because earning your Ph.D. in a scientific discipline often requires access to laboratories and specialized equipment in order to conduct your research and practice procedures. Ph.D. programs are more difficult to adapt to the online format because of how highly individualized they tend to be, requiring close collaboration with your advisor. This is one of the reasons they are so rarely offered online. However, online Ph.D. programs are becoming more and more common as colleges and universities find ways to harness technology to solve some of these problems. So if an online Ph.D. is something that interests you, definitely investigate your options thoroughly and you might find one that suits your needs.

Bureau of Labor Statistics Page

Related Resources:

• Doctorate Degree Online
• Cheapest Online PhD in Finance
• Online PhD Marriage and Family Counseling
• Online PhD Organizational Psychology
• Highest Paying Nursing Jobs

This concludes our ranking of the ten highest paying PhD degrees.

2024 Highest Paying Doctorate Degrees [Jobs & Career Guide]

Are you searching for information about the highest paying doctorate degrees? If so, you’ve come to the right place.

There are nearly endless options when it comes to doctoral programs, and choosing the right one for you will depend on factors like your personal interests and career goals.

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Students who attend doctoral programs often go on to become leaders in their fields, playing a role in expanding on existing research and developing new ideas.

Highest Paying Doctorate Degrees

You can earn your doctorate in almost any area, but salaries tend to differ between fields. Most PhD programs consist of research paired with a final dissertation.

According to the Bureau of Labor Statistics , the following are some of the highest paying doctoral degrees:

• Ph.D. in Aerospace Engineering
• Ph.D. in Physics
• Ph.D. in Computer Science
• Ph.D. in Chemical Engineering
• Ph.D. in Economics
• Ph.D. in Information Assurance
• Ph.D. in Electrical Engineering
• Ph.D. in Biochemistry & Molecular Biology
• Ph.D. in Statistics
• Ph.D. in Biomedical Engineering
• Ph.D. in Pharmacology
• Ph.D. in Engineering
• Ph.D. in Immunology
• Ph.D. in Psychology
• Ph.D. in Organic Chemistry

All of these fields offer plenty of opportunity for growth, a lot of different job prospects, and plenty of job security.

PhD in Aerospace Engineering

Aerospace Engineers Annual Median Pay: $122,270 Job Outlook: 8%

An advanced degree in aerospace engineering is one of the highest paying PhDs. It provides the opportunity for you to build on your science and engineering background by studying aerospace structures and aerodynamic systems.

A large part of your coursework will likely consist of researching a specific topic of your choosing. Many schools also require you to complete and defend a dissertation. Many graduates of a doctoral aerospace engineering program go on to make significant contributions to research and development in their field.

Some choose to become mechanical or industrial engineers, while others pursue a career as postsecondary engineering teachers, sharing what they’ve learned with a new generation.

PhD in Physics

Physicists Annual Median Pay: $152,430 Job Outlook: 9%

During a doctoral program in physics, you will have the chance to conduct research into a specific topic within the field while you develop expertise in advanced physics concepts. This is a mathematics-heavy degree, with courses on subjects like quantum mechanics, computational physics, and electromagnetic physics.

Many physics PhD graduates pursue positions in education, research, management, or development. Some physics professionals teach others what they know as postsecondary professors or conduct research in laboratories or offices. Physicists, for example, often work in labs, exploring the different ways that energy and matter interact and investigating existing scientific theories.

PhD in Computer Science

Computer and Information Research Scientists Annual Median Pay: $131,490 Job Outlook: 22%

A doctorate in computer science is one of the highest paid PhD degrees, and it can help you develop an in-depth understanding of how to apply advanced computer science theories. You will likely take courses that cover topics such as databases, computer systems, and artificial intelligence.

In a world that relies heavily on technology, a PhD in Computer Science can lead to a variety of lucrative careers. Some graduates go on to work as computer research scientists, developing new hardware and making adjustments to old ones. Others use their skills to help companies improve their existing computer systems.

PhD in Chemical Engineering

Chemical Engineer Annual Median Pay: $105,550 Job Outlook: 9%

Most doctoral programs in chemical engineering take a research-based approach toward foundational chemical engineering information.

Like most PhD programs, you will likely be asked to conduct research into a specific area of interest, complete a thesis, and present your findings to a panel for review. Depending on your specialty, a chemical engineering doctorate degree can often prepare you for careers in environmental protection, health and safety, and resource management.

For example, some graduates pursue careers as biotechnologists or chemical engineers, using what they know about living organisms to improve existing medical technology or transform raw materials into effective products.

PhD in Economics

Economists Annual Median Pay: $105,630 Job Outlook: 13%

Doctoral economics candidates receive extensive schooling around econometrics and economic theory. You can also select a specific area of interest on which to focus your research. For example, you might choose to conduct research into production and organizations, antitrust issues and policies, or regulation and industrial policy.

Since a doctoral economics program can leave you with a deep understanding of foundational economic principles, graduates in this field can prove essential to many businesses. Economists, for instance, analyze data and trends and prepare reports that help companies make plans for the future.

PhD in Information Assurance

Computer and Information Systems Managers Annual Median Pay: $159,010 Job Outlook: 11%

This degree falls under the umbrella of information and technology, and it centers around learning how to protect digital information. While earning your PhD in Information Assurance, you will typically cover topics like software engineering, operating systems, and theoretical computer science.

As an information and security analyst, your job would be to protect a company’s computer systems from harm. Because many companies have digital information that they would like to keep confidential and safe from hackers, this doctorate degree might be considered one of the most useful PhD degrees.

Those with a doctorate in this area may go on to work in research or academia. They might also go on to become chief information security officers.

PhD in Electrical Engineering

Electrical and Electronics Engineers Annual Median Pay: $101,780 Job Outlook: 7%

Electrical engineering is concerned with the technology of electricity, such as the design of new systems and equipment. During your time as a PhD student in electrical engineering, you’ll also select an area of focus around which you will conduct your research, such as solid-state devices or wireless communications.

Many graduates of a doctoral program in electrical engineering go on to become electrical engineers, developing and supervising the creation of electrical equipment. Others choose to pursue careers in computer and research science, holding high-paying roles in positions such as machine learning engineers.

PhD in Biochemistry & Molecular Biology

Biochemists and Biophysicists Annual Median Pay: $102,270 Job Outlook: 5%

In a doctoral biochemistry and molecular biology program, you can conduct extensive molecular research driven by hypothesis.

You will likely use both model organisms as well as human specimens in your research, and you can choose to specialize in an area that aligns with your career goals. An advanced degree in this area can prepare you for a variety of careers within the health sciences and biomedical fields.

Some graduates become microbiologists, conducting research into viruses and parasites. Others work as medical scientists, developing new procedures and vaccines. This degree often leads to innovative work that can benefit large communities of people.

PhD in Statistics

Statisticians Annual Median Pay: $95,570 Job Outlook: 35%

During the course of a doctoral program in statistics, you’ll have the opportunity to learn the skills needed to become a leader in statistical research.

This means that you can choose an area to focus your research on, and you’ll have the chance to contribute your findings to the academic community in the form of a dissertation. Students who graduate with their doctorate in statistics often pursue roles in academia. This is also one of the useful degrees for preparing to work in research companies, helping to analyze and interpret data.

PhD in Biomedical Engineering

Bioengineers and Biomedical Engineers Annual Median Pay: $97,410 Job Outlook: 6%

Biomedical engineering combines biology and engineering principles and applies them to medical issues. You can learn how to care for medical equipment, and you may conduct research to develop new equipment as well. After earning your doctorate degree in biomedical engineering, you may qualify for an advanced career in healthcare, research, or academia.

Some graduates choose to pursue biomedical engineering and work to improve the safety and efficacy of various biomedical equipment. Others may choose to become research scientists, conducting experiments and analyzing their findings.

PhD in Pharmacology

Medical Scientists Annual Median Pay: $95,310 Job Outlook: 17%

A doctoral program in pharmacology is intended to prepare you for a job in the pharmacology industry. You can study different drugs and how they affect various bodily systems, and you’ll also explore subjects like human physiology and medical pharmacology.

You can typically enter the field of medical sciences with a doctorate in pharmacology. Some graduates become pharmacologists and use their skills to develop new drugs and conduct further research into how specific drugs react in our bodies.

If you are passionate about educating others, you might pursue a career as a medical writer and publish informational documents about specific drugs.

PhD in Engineering

Architectural and Engineering Managers Annual Median Pay: $152,350 Job Outlook: 4%

A PhD in Engineering program typically starts by asking you to pick a topic of emphasis. Biomedical engineering, electrical and computer engineering, and energy systems are just a few examples of the areas that you might choose to focus on. The positions available to you after graduation will depend on your area of expertise.

If you are interested in transportation, you might consider becoming a civil engineer, designing major infrastructure projects. Maybe would like to combine your understanding of multiple disciplines to come up with innovative solutions to some of our pressing environmental problems. A PhD in Engineering Management is one of the highest paying PhD degrees.

PhD in Immunology

Microbiologists Annual Median Pay: $79,260 Job Outlook: 5%

Students who pursue a doctorate degree in immunology can develop an advanced understanding of the immune system and its role in defense from infection and disease.

Should you choose to earn your PhD in this subject, you will have the opportunity to conduct and contribute research to the world of academic medicine. An advanced understanding of how our immune system functions can be helpful in a variety of medical science fields.

You might want to work in a lab and analyze the results of experiments involving various parasites or pursue a career in a medical office as a medical scientist.

PhD in Psychology

Psychologists Annual Median Pay: $81,040 Job Outlook: 8%

A PhD in Psychology will allow you to choose a specialty within the field on which to concentrate your research and studies. Some concentration options include counseling, school, or forensic psychology.

In each of these areas, you can explore the application of foundational psychology practices in a specific environment. Depending on your concentration, a doctorate in psychology can lead to a variety of career options.

Some graduates open up their own private practices and meet with clients in office settings. Others work as school psychologists, helping to counsel children with mental and behavioral disorders.

PhD in Organic Chemistry

Materials Scientists Annual Median Pay: $100,090 Job Outlook: 4%

A doctorate in organic chemistry is a notoriously rigorous yet rewarding path, and it can provide you the opportunity to take courses and conduct research around organic chemicals. During your studies, you will likely study topics like synthetic organic chemistry, biochemistry, and medicinal chemistry.

A PhD in Organic Chemistry can often lead to jobs in research or academia. Additionally, it can pave the way toward leadership roles, such as laboratory managers or research and development directors.

Different Types of Doctorate Degrees

There are many types of doctorate degrees that you can earn. A solid understanding of your personal career aspirations can help you determine which advanced degree is the right one for your needs.

• Doctor of Business Administration (D.B.A.) : Earning a DBA is strategic for those who are hoping to lead a business one day. You can learn what makes a business successful as well as what can lead it to failure.
• Doctor of Education (Ed.D.) : If you are interested in creating change or pursuing leadership roles within education, then you may want to earn your EdD. You can have the opportunity to use existing research to work through different issues in the world of education, including implementing and analyzing new and existing programs.
• Doctor of Public Health (DrPH) : If your goal is to enter into a leadership role within public health or policy, pursuing your DrPH may be the right path for you. You can examine existing public health systems and learn the skills needed to make improvements and develop new programs.
• Doctor of Social Work (DSW) : A DSW can help prepare you to engage in life-changing work impacting marginalized populations. You can learn how to evaluate different social work programs and implement social change on large and small scales.
• Doctor of Philosophy (Ph.D.) : This degree is one of the most recognizable terminal degrees out there, and it is beneficial for anyone who is eager to contribute research to a specific field. A PhD often leads to a career in academia or research, a strategic choice for anyone hoping to become a professor or an established research scientist.
• Doctor of Theology (Th.D.) : The completion of a ThD can prepare individuals for roles in academia, analyzing and researching religious topics. A ThD is also commonly earned by members of the clergy. You can learn to conduct research around different faith-based subjects and analyze historical religious texts.
• Doctor of Medicine (M.D.) : An MD focuses on applying medical knowledge to help treat patients. After earning this degree and passing a licensure exam, you could be qualified to practice medicine.

Because every doctorate program is unique, it’s beneficial to conduct research into your specific programs of interest before applying.

Accreditation

In order to let applicants know that the educational programs they offer are legitimate, colleges and universities can elect to undergo a review process to become accredited.

Attending a regionally accredited institution is beneficial for several reasons. For starters, it means that the program you attend will meet high academic standards. So, you can be confident that you’re learning the necessary skills for your field of study. Additionally, future employers often look for graduates of accredited programs because they trust the quality of their training and preparation.

You can check if your schools of interest are regionally accredited by visiting the US Department of Education ’s website. 

Financial Aid and Scholarships

You can apply for federal financial aid by filling out the Free Application for Federal Student Aid , commonly referred to as the FAFSA.

The amount of monetary assistance you are eligible for will be determined by factors such as your financial need and your enrollment status. In addition to federal aid, many states offer financial assistance as well. The eligibility requirements differ between states, so it’s necessary to check the specific details for your state of residence.

There are even companies that offer tuition reimbursement as part of their benefits plan. You can ask your employer for information specific to your place of work. Finally, scholarship opportunities are another source of financial aid. These are often offered by universities as well as public and private organizations.

What Is a Doctorate Degree?

A doctorate degree is a term used to describe a myriad of different degrees of the highest academic level. There are two types of doctorate degrees: academic and professional.

An academic doctorate, sometimes called a research doctorate, focuses on contributing new information to your field of study. Doctorate degree titles in this category include Doctor of Philosophy (PhD), Doctor of Education (EdD), and Doctor of Theology (ThD).

A professional doctorate, or an applied doctorate, revolves around learning how to apply theoretical knowledge to real-world scenarios. These include degrees like Doctor of Medicine (MD), Doctor of Optometry (OD), and Doctor of Psychology (PsyD).

Is a PhD a Doctorate Degree?

A PhD is a type of doctorate degree. It stands for Doctor of Philosophy, but it is applicable to degrees in a variety of fields outside of philosophy.

PhD programs are usually research-heavy and focus on producing new knowledge in your field of study. Every university offers their own unique PhD programs, but some common categories include education, business and commerce, engineering, and science.

Can You Get Your Doctorate Without a Masters?

While the traditional path to a doctorate begins with earning your bachelors degree and your masters degree, there are alternate roads to a PhD.

If you are hoping to enroll in a PhD program without a masters degree, you will often be required to hold a bachelor’s degree in a similar field of study. This process generally consists of applying for an MPhil, submitting an outline for your thesis, and beginning your research as a PhD student.

There are now a number of universities that offer PhD without a masters degree. Admissions criteria vary between universities, so it is beneficial to check the doctoral program requirements before applying.

What Are the Highest Paying PhD Jobs?

Earning a PhD can help you qualify for a variety of high-earning careers, depending on your field of expertise. Here are some of the highest paying jobs that require or benefit from a PhD, along with their median annual salaries from the Bureau of Labor Statistics:

• Political Scientists: $122,510
• Economists: $105,630
• Postsecondary Education Administrators: $96,910
• Atmospheric Scientists: $94,570
• Biochemists and Biophysicists: $102,270

While many PhD graduates go on to lucrative careers, holding a terminal degree does not guarantee a specific position or salary.

What Are the Most In Demand PhD Degrees?

While there are benefits to following your passion as you pursue your PhD, it can also be helpful to have an understanding of which degrees are in high demand. According to data from the Bureau of Labor Statistics, here are some in-demand PhD degrees along with related career information:

Although jobs are expanding in these areas, there is still competition to earn positions, and earning a degree does not guarantee employment.

Is a Doctorate Worth It?

Yes, a doctorate is worth it for many professionals. Because doctoral programs are focused intensely on one area of study, candidates often become a contributing voice in their field of expertise. This may lead to fulfilling jobs that can benefit their community and align with their passions.

Employers in many different fields are searching for candidates who have specialized expertise and experience. There’s also projected job growth for management positions as well as academic positions. For instance, the Bureau of Labor Statistics projects 12% job growth for postsecondary teachers over the next ten years, which is faster than average.

Getting Your Doctoral Degree Online

Earning your doctorate can create the opportunity for you to explore your passion, conduct significant research, and become part of an academic community.

Many professionals who complete a doctoral program go on to become leaders in their fields by contributing their unique set of skills and knowledge. Earning a professional doctorate can help you pursue career advancement in your field of choice, while a PhD is strategic for pursuing positions in research and academia.

A number of accredited universities also offer online doctoral programs , allowing you to better balance your studies with other work and life responsibilities. If you are interested in developing advanced expertise in your field, why not start researching accredited doctoral degree programs and learn how to get a PhD online today?