If you have a particular area of interest and would like to pursue a degree in that area, it is quite beneficial to increase your potential for success through formal education. Rather than stopping at a Bachelor’s or Master’s degree, you will be best served by earning your Doctorate Degree.
There are several reasons for pursuing you Doctorate Degree. Prestige and a wider variety of career options come to mind, as well as the ability to demand a high salary.
According to the U.S. Census Bureau, those individuals with Advanced Degrees make substantially more per year than those individuals with a Bachelor’s Degree. In fact, the greatest disparity in the chart below is between the Advanced Degree and the Bachelor’s Degree.
Median Earnings
Difference
Not a H.S. graduate
$21,332.00
H.S. graduate
$27,351.00
+ $6,019.00
Some college
$31,988.00
+ $4,637.00
Bachelor’s degree
$42,877.00
+ $10,889.00
Advanced degree
$55,242.00
+ $12,365.00
(The above information is based upon the average earnings of individuals in the United States between the ages of 21 and 64.)
