According to the National Association of Colleges & Employers' (NACE) Fall 2001 Salary Survey of college graduates, Master's and Ph.D. degree recipients received starting salaries 41% and 50% respectively higher than Bachelor's degree recipients.
Using U.S. Census Bureau data, the Council of Graduate Schools (CGS) found that annual income is strongly related to degree attainment, with professional degrees carrying the highest salaries at $83,100. CGS noted that annual income differentials are magnified when computed over a 40-year career (from ages 25 - 64). Professional degree holders, for example, on average earn $2 million dollars more over their lifetime than those with bachelor's degrees!
Every year, a half million master's, doctoral and professional degrees are conferred at colleges and universities throughout the United States. Not all the recipients pursued these advanced degrees for the higher salary they are likely to receive. If you were to survey them about why they spent the time, money and energy to get this additional education, you'll find an extensive list of responses:
Not only are advanced degrees excellent investments, they add richness and fullness to the lives of the recipients and to the community at large.