NACE (National Association of Colleges and Employers) has published its Winter 2016 Salary survey for those with Master’s Degrees. Below is real data of median income salaries from hiring companies who reported back to NACE.
As with all other salary information, the salary itself does not tell the whole story on earnings. If you are contemplating pursuing a master’s degree for your next step, know the following elements must be considered:
Median Starting Salaries for Master’s Students by Academic Major:
Computer Science: $72,080
Mathematics and Sciences: $67,891
A Word of Caution
If you are pursuing a master’s degree because you either need it to secure you next career step or because you need it for your personal confidence and esteem, OK. But if you are considering a master’s degree because you cannot find a job in your chosen field, make sure you don’t amplify your employment problem by accumulating more debt.Be honest with the ‘why’ question. Job search is a critical skill that we all must master.
Finally, Your Financial Future
There is a real cost to securing an advanced degree:
IF the advanced degree itself boosts earning and employability, all will be well but know you have to make up early for those lost years. Now you have the data to sort that one through.
Your degree will generally get you your first job, after that, it’s nearly always your track record and accomplishments.