Guide to Graduate Schools

Sometimes it's worthwhile to believe the things that you hear--especially when it comes to furthering your education. According to the U.S. Bureau of Labor Statistics, your investment in an advanced degree is likely to pay off: May 2011 data from the BLS shows those with a master's, professional or doctoral degree earn more median pay on a weekly basis than those with only a bachelor's degree. The pay difference ranges from $234 to $572.

This high-end difference in earnings occurs when those with a professional degree are compared to those with a bachelor's degree. Workers with a professional degree, such as a JD for lawyers or MD for doctors, earn median weekly wages of $1,610, compared to the weekly median earnings of $1,038 made by those with a bachelor's degree, according to the BLS. The earnings for a professional degree also exceed those made on a weekly basis for those people having a doctoral degree, according to the BLS.

Studies also show that those with advanced degrees earn more on a yearly basis--not just weekly--than those with solely a bachelor's degree. A 2010 study from The College Board indicates that those with a master's degree earn median after-tax earnings of $51,100 while those with a bachelor's degree earn median after-tax earnings of $42,700.

BLS data also indicates that those with an advanced education are less likely to find themselves unemployed. Master's degree graduates have a 4 percent unemployment rate, while those with a bachelor's degree experience 5.4 percent unemployment.

The trend toward advanced education is on the rise as more people compete for jobs and hope to find a competitive edge. In 1999, 27 million people in the U.S. age 25 and older had a bachelor's degree or higher, while in 2009, that number reached 44 million. If it's time for you to take steps toward increased earnings, you can make a start by looking at graduate schools. Online opportunities also provide a convenient way to obtain an education while advancing your academic goals.