Studying for a Master’s degree is demanding and rewarding. It is very well worth the stress to get back to the classroom. Well, that depends on the type of Master’s degree and course chosen.
Many return to postgraduate school for a Master’s for different reasons. This includes getting a career promotion (with a pay rise of course), changing career path, or developing a much-needed skill available specifically in school. Researchers need a Master’s degree to proceed to a doctorate.
Professional or Academic Masters
Talking of “top paying”, it gives the idea of the cooperate world. Suffice it to say, the professional Master’s degree is usually the emphasis. The MBAs, MPH, LLM and so on.
In reality, it is not the case in all the situations. Some academic Master’s programs also offer high financial benefits to the holder. In the ever-changing world, professional Master’s degrees don’t hold all the aces.
Highest Paying Master’s Degree
Some Master’s degrees are more in demand by recruiters and employers. The more demand by the cooperate world, the better its benefits to the holder.
Holders of top Master’s degrees also receive rapid promotion. This makes it possible to climb to the top of their career faster. This is Postgraduate Nigeria list of the highest/top Master’s degrees
1. Master of Computer and Information Science
According to the National Association of Colleges and Employers, US-trained college graduates of computer science have a starting salary of about $55,000. For those who proceed to MSc. in computer science, the salary can reach $100,000 per annum.
A Master’s in Computer or Information science can be a further on a bachelor’s in computer science. In this case, a grounded tech person needs an advanced degree for career benefits. A survey report by Stack Over flow at least 20 percent of tech workers and about 25 percent of developers surveyed have master’s degrees. In essence, the computer professional simply needs to be a specialist with a credential as a badge.
Other professionals who enter the world of ICT also need a Master’s. They can function as computer programmers, software and database administrators, information security analysts, web designers, DevOps engineers, and cyber security engineers. Despite having requisite tech skills, a Master’s degree in computer or information science will become necessary to stay relevant among the competition.
How much does a Master of Computer and Information Science Make?
Comparatively, a graduate degree in computer science positions you to earn 28% more over a career life. A senior software engineer with a Master’s degree can receive up to $171,000 while an information technology architect with a master’s in computer science, typically earns around $134,000, according to PayScale.com. The wage benefits are not limited.
The flexibility of the career can also be a non-financial reward. Top tech roles have the opportunity to work completely remotely. A job that gives you the chance to resume from any part of the globe without hassle. There are also the benefits of stock options available in start-up organizations. Obviously, a master’s degree in computer or information science is a top-paying one.
2. Master of Business Administration
The US salary average for MBA graduate around $95,000. In Nigeria, a Nexford Insight put the figure at $2,000. This is 80% higher than other worker’s average. Therefore, holders of a Master’s of Business Administration seat comfortably among the top earners generally.
An MBA degree positions the holder for senior executive role in the corporate world. Generally, C-suite executives brandish MBAs from the top business schools in the world and Africa. Technically skilled professional definitely need a Master’s of Business Administration when transiting to the board rooms.
Factors that Determine the High net worth of MBA Graduates
Without sentiments, the business world evolves around money. So, when you have the skill to make, manage and multiply money, the financial rewards are significantly high.
Specific factors that make MBA holders part of the top paying Master’s degree are
- Job description and roles: CEO, CFO, COO, CTO
- Industry: Banking, consulting, I.T, oil and gas, telecom
- Location: US, Canada, Lagos, Dubai, e.t.c
- Work experience
How much does a MBA Graduate Earn?
In a comprehensive survey by U.S. News & World Report, the average base salary plus bonus paid to MBA graduates was $101,034. This survey was conducted across 132 MBA for the year 2020. In addition, among the 140 ranked schools that supplied separate starting salary data to U.S. News the average base salary among 2022 MBA grads was $101,431.
MBA in the financial services and stock exchange earn 60% more than bachelor’s counterpart. Average Salary for Harvard MBA graduates: $207k . According to Harvard’s latest recruiting data, 51% of graduates in the class of 2021. Workers with MBA in Management Consulting earn $99,000 per annum. This is clear, a Master’s degree in Business Administration MBA is a top degree.
3. Master of Nursing
Investing in a Master’s in Nursing (MSN) can lead to a rewarding career both personally and financially. A Master’s in Nursing opens the door to not only advanced clinical practice but also to high-paying career opportunities within the healthcare industry.
The average salary for a Master’s degree in Nursing is $114,000. The specific amount varies, influenced by the specialty in Nursing. Also, you need to understand how experience, specialization, and geographic location impact earning potential.
Nursing Specialists and Salary Potentials
There is a growing demand for highly skilled nursing professionals. In the healthcare industry, alignment with increased demand strategically positions an MSN graduate for advanced practice Nursing.
The top paying specialty in Nursing with a Master’s Degree are:
- Nurse Anesthetist: median annual salary of A nurse anesthetist is about $195,000.
- Nurse Administrators: they start earning at $87,000 but can reach $130,000.
- Nursing Practitioner: Nurses who work as advanced registered nursing Practitioners ARNP received a salary starting from $100,000. The figure can shoot up to $117,000 with added experience.
- Psychiatric Nurse: Mental health nurses are part of the highest paid in the profession. The median salary is roughly $105,000 yearly.
Career Paths to a Master’s in Nursing
A Bachelor’s degree in nursing (BN) is a likely route to begin on the path to an MSN. After completing an undergraduate degree in nursing, pass the NCLEX examination for US residents. In other countries, the appropriate license is awarded after passing the qualifying nursing or midwifery test.
You can also choose a nursing specialty right from clinical classes. Developed interests and gain field training and certifications. These would come in handy when applying for a Master’s degree in Nursing MSN.
By pursuing specialized programs such as Nurse Anesthetist, Nurse Practitioner, Nurse Midwife, or Nurse Administrator, nurses can not only make a positive impact on patient care but also secure a financially rewarding future.
4. Health Information Science
6. Mathematics and Statistics