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• What is a College Major?
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Guide to Graduate Schools

Education pays! Today's workers are increasingly more educated and earn more (adjusted for inflation) than their counterparts of just a decade ago. Jobs employing only college graduates are projected by the U.S. Bureau of Labor Statistics to be among the fastest-growing in the country. Many professionals are signing up with online universities to increase their earning power or career options by earning graduate degrees without hindering their workplace performance.

The U.S. Bureau of Labor Statistics (BLS) reports that the number of workers with a college degree increased 33 percent between 1992 and 2000. The influx of trained undergraduates into the workplace means that professionals with graduate degrees--particularly MBA or PhD degrees--enjoy even better opportunities for advancement. And graduate school training pays off on payday.

The BLS reports that workers with master's degrees (on the same career path as bachelor or associate degree holders) earn, on average, $150 more per week. This increases to $380 more a week for those who hold a PhD. A 2003 Salary.com report bears out the BLS findings; according to its calculations, workers with a bachelor's degree earned an average annual wage of $43,000, while master's degree holders drew down $53,000.

The following chart illustrates the earning differentials by degree type:

Statistics indicate that obtaining a graduate degree can bolster earning power. The U.S. Census Bureau cites lifelong earnings (in millions) by degree type at $3.4 per lifetime with a doctorate, $2.5 with a master's degree, and $2.1 with a bachelor's degree. And thanks to continuing advances in educational technology, you can earn one of these prestigious, accredited degrees entirely online, without disrupting your life.

Take a look through our new Guide to Graduate Schools, and find the right program for you. Your next big career move could be closer than you think!