PrepAdviser’s ranking is based on PayScale's College Salary Report, which includes data for hundreds of graduate degrees and ranks them by the median mid-career salary of the college graduates who hold them. MBAs were not included in this list. The results from PayScale’s survey are grouped around three topics:
Early Career Pay – Median salaries for alumni with degrees in this subject and 0 to 5 years of work experience.
Mid-Career Pay – Median salaries for alumni with degrees in this subject and 10+ years of work experience.
High Meaning – Percentage of alumni who say their work makes the world a better place.
The place occupied by the Masters degree majors in the PayScale ranking is given in parentheses.
Taxation (4th place)
Taxation is the system by which a government takes money from people and spends it on things such as education, health, and defence. If you have a Bachelor's degree in Business, Economics or Law, a Masters in Taxation degree may be your next goal.
You should be aware that taxation professionals have advanced mathematical, numeracy, and analytical skills. They are also able to interpret and explain complex financial issues.
Taxation graduates can find employment as tax advisors and analysts, investigators, auditors, tax partners in accounting and law firms, revenue managers, policy makers, tax inspectors, to name but a few. Professionals can work in accountancy and law firms, investment, insurance agencies, software companies, the public sector, or charities.
Early Career Pay: USD 61,100
Mid-Career Pay: USD 129,000
High Meaning: 29%
Technology Management (6th place)
Masters in Tech Management programmes usually prepare senior technology professionals to develop a strategic mindset, understand core business functions (such as finance, accounting, and leadership), and improve business performance through the use of technology.
Students learn how to use technology in business to gain strategic advantage and enhance productivity. In enrolling in a Masters in Tech Management programme, you will have the opportunity to gain the critical-thinking skills that you need to analyse key business issues and live up to all kinds of business and technology challenges. You will also learn how to use tech innovations to drive international expansion, improve customer service, and create new revenue opportunities.
Most often, graduates are hired as chief information officers (CIOs) who can develop and deploy technologies, and who have business as well as IT skills. Graduates can also work as CTOs, CAOs, COOs, CEOs, or CSOs, or as entrepreneurs.
Early Career Pay: USD 65,900
Mid-Career Pay: USD 127,000
High Meaning: 47%
Finance (13th place)
If stocks, bonds, derivatives and financial markets are your passion, then enrolling in a Masters in Finance programme may be the right step for you. Students in such programmes typically also learn how to evaluate corporate investment projects and master the techniques for estimating expected returns and risks.
Masters in Finance students also gain an understanding of the key competitive and management issues in the sector. Finance degree graduates usually obtain lower starting salaries because there is no work experience required to apply to the programmes. Graduates can work in commercial banking, financial planning, insurance, investment banking, financial analysis, financial management, and more.
Early Career Pay: USD 63,900
Mid-Career Pay: USD 121,000
High Meaning: 37%
Economics (25th place)
Students who enrol in a Masters in Economics programme acquire the formal tools necessary to understand and conduct research in both theoretical and applied economics. It has to be pointed out that participants need to have advanced mathematical skills. Some schools offer preparatory courses in mathematics and statistics for students wishing to study a Masters in Economics.
Applicants should also be able to carry out independent research, using complex statistical data, and have a background in qualitative and quantitative research methods. Economics graduates can work as economists, financial managers or policy analysts. They can find employment with banks or other financial services providers, in consulting firms and research institutes, and in international organisations and non-profits.
Early Career Pay: USD 64,900
Mid-Career Pay: USD 115,000
High Meaning: 43%
International Business (29th place)
Masters in International Business programmes give you a deep understanding of the fundamental concepts of global business. Programmes may offer specialisations in marketing, finance, entrepreneurship, project management, family businesses, or business analytics.
A Master's in International Business is suitable for students who want to pursue a career in international business. The knowledge you can gain from the programme will give you the ability to plan strategically for international operations. Graduates can work in marketing, finance, banking, or business development.
Early Career Pay: USD 59,200
Mid-Career Pay: USD 110,000
High Meaning: 40%
The Masters in Organisational Development helps students learn the skills to address contemporary organisational challenges, lead change initiatives and increase effectiveness. Participants acquire skills in organisational assessment, diagnosis, implementation, and evaluation that prepare them to assume leadership roles.
The job of organisational development professionals consists of helping senior executives analyse the organisational culture and propose changes to improve the organisation's performance. Changes are often necessitated by factors such as economic crises, competition and technological innovation. As a result, there is steady demand for professionals who both understand and can contribute to organisational change and development initiatives and activities.
Graduates are often hired by colleges and universities, consulting firms, government agencies and corporations. They can work as medical office managers, administrative or office managers, nursing directors and human resources directors.
Early Career Pay: USD 55,800
Mid-Career Pay: USD 105,000
High Meaning: 56%
Marketing & Management
Students in Masters in Marketing and Management programmes basically learn how marketing management drives company performance. Participants gain insights into consumer behaviour, learn how to create strategies to ensure the success of products and services, and also try to help the organisation keep up with the changing environment.
Graduates can work as product/brand managers, market researchers, account managers, media planners, advertising strategists, to name but a few.
Early Career Pay: USD 52,500
Mid-Career Pay: USD 103,000
High Meaning: not available
How much you will earn in your career is certainly one of the most important factors to consider, and your choice of major will definitely impact the size your future pay check. So do your research before making a decision.