5 High Paying Jobs with a Masters Degree

A master's degree is the key to unlocking a myriad of job opportunities in the career world

Students can expect to spend about 6 years working toward their masters degree, however, for those who have already earned their bachelor's degree, only two more years of study can achieve the masters.

Additionally, people are finding out that they can obtain their masters degree online in less time. If they can add a few extra courses throughout the year or take a full boat over a summer, they should be able to earn their master's degree in less than two years, once their bachelor's degree is completed.

An obvious question, though, is whether the master's degree is worth the investment. Certainly, Americans are facing a tough economic climate that has created keen competition in the career world. Despite these factors, individuals with their master's degrees can be assured that there are plentiful jobs out there for them to grab, and many of those career fields have been forecasted to experience a growth over the next decade.

For those who are wondering which direction to aim for, here are five high paying jobs for people with their master's degree:

• Chief Executive Officer - A Master of Business Administration (MBA) can lead an individual in many different directions, but landing a job as a CEO can earn one of the highest paying salaries. Unfortunately, those who have their minds set on a position like this will face extreme competition against other individuals who are aiming for the high pay and prestige that being a CEO can attain. According to BLS, there is most likely going to be little or no change in employment opportunities; however the need for CEOs in the fast-growing health services industry is expected to increase. Prospective CEOs can expect a six-figure salary, with the middle 50% of CEO earning between $62,900 and $137,020 in May of 2008.
• Engineering Manager - Individuals with a master's that has a focus in engineering or engineering management may elect to take advantage of the projected 6% job increase that is expected for these professionals. The salary will depend on the specific industry and the level of responsibility that the individual is expected to handle, but to provide an idea of what kind of salary that may be offered, the BLS stated that engineering managers in May of 2008 earned a median salary of $115,270, another six-figure salary.
• Physicist - If physics was particularly exciting, becoming a physicist may be the perfect avenue to pursue, performing research and development in large corporations. Physicists will also enjoy a six-figure salary, with the median salary near $103,000 per year. In addition to the high pay, the BLS projects that physicists can expect to see a faster than average growth in jobs of 16% by the year 2018. While many industries have reduced the total amount of basic research positions, the demand will be high in information technology, applied sciences and semiconductor technology.
• Database Administrator - The highest paid 10% in this field earned over $104,070 in May of 2008, according to the BLS, although the actual median salary falls in the $66,000 range. Regardless, the expectation of occupational growth for these professionals is 20% by the year 2018, which is an extremely good outlook for any profession. A master's in information technology will be the preferred degree, while extra certifications can add to the earning potential of this position.
• Human Resources Manager - True people-skills and the ability to manage in fast-paced environments while maintaining and upholding policies and procedures of a company are requirements that a human resource manager is accountable for. The college psychology courses are going to go far with this type of position, as handling personnel issues is a major part of the job description. These professionals can expect a salary near the $100,000 mark, along with benefit packages. According to the BLS, training and development specialists earned a median salary, at the top of the totem pole, of $216,600, while compensation and benefits managers were noted to have earned $40,500 in May of 2008. An overall projected job growth of 22% by the year 2018 makes this career field one that will offer plentiful prospects for potential human resource managers.

Of course, not all professionals with master's degrees are earning six-figure incomes. The savvy students who are planning to use their degree to the utmost have done their research and are aiming their education to head toward the types of opportunities that are listed above, though. With a master's degree, the right major and the right attitude, the sky is the limit when it comes to earning a six-figure income - and it is not as difficult as it may seem to land that dream job with the master's degree in hand.

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