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The 5 Highest Paying Doctoral Programs to Choose in 2020

Written by CB Community

A doctoral degree (also called a doctorate, or a doctor’s degree) is a degree awarded by universities in various fields.

The most popular one is a PhD (the Doctor of Philosophy) that can be pursued in a variety of disciplines.

Some countries, the United States included, also offer different programs of technical or professional degrees, which require more field experience (e.g., Doctor of Medicine).

There are numerous ways of pursuing this degree – you can find everything from 1 year online doctoral programs to extended on-campus studies.

What you choose will depend on your chosen field, current lifestyle, financial situation, or the amount of time you’re willing to sacrifice.

A genuine interest in the topic is vital to pursue a doctoral degree successfully, but for many people, the promise of extended skill sets, as well as a bigger salary, are also great motivators.

Below, you will find some of the best doctoral programs you can choose if you keep your career and money perspectives in mind:

1. Business Administration

Because of the growing number of companies in all industries (hence, competitors) and higher standards, business administration specialists are especially in-demand these days.

What’s great about this degree, it is possible to pursue it 100% online.

Therefore, it’s an excellent opportunity for those who can’t attend classes in person for various reasons.

It’s a general program that can prepare you for multiple jobs; you will learn about people and business management, analysis, implementing various strategies, and more.

This degree is a great choice for natural-born leaders who seek careers in executive leadership.

The average salary for executives leaders varies from $130,000 to $170,000.

2. Pharmacology

Pharmacology is actually one of the most-wanted degrees on the job market right now. A bachelor’s degree is an absolute minimum to work as a qualified pharmacist, but since it is a sensitive field related to people’s health and life, most companies are willing to pay more only to get someone with broader knowledge.

Job opportunities for pharmacists have grown by 25% throughout 2020, while the unemployment rate is one of the lowest – merely 3%.

The average pay is $105,000 yearly, but the statistics take into consideration all the workers, including those who aren’t holding a doctoral degree. The salary grows along with your education level.

3. Computer Science

With the ever-growing digitalization, holders of doctoral degrees in computer science aren’t limited to the IT industry anymore.

Right now, every company, no matter the sector, needs to have the documents in a digital form or conduct at least part of the communication online.

Whether you want to specialize in cybersecurity, management information systems, or fin-tech, you are sure to find a well-paid job in no time.

The average salary is around $60,000, but since computer science specialists can work in virtually any company, the salary depends on too many factors to give a reliable estimate.

It is worth noting that industry growth in 2020 has been around 18% so far.

4. Human Resources

As long as there are people working in most companies, there will always be a job for a good HR specialist. Especially the bigger enterprises need at least a small team that will manage recruitment, onboarding, development plans, conflicts, and more.

Now more than ever, it is crucial for a company to maintain certain standards, enforcing proper behavior, equality, and tolerance in the workplace.

It is estimated that the field will grow by 9% up until 2026.

5. Engineering

There are many specializations you can choose within the engineering field – mechanical, electric, computer, etc. – but whatever your choice, you are more than likely to have six figures on your paycheck as soon as you start.

With a doctoral degree in engineering, you are more likely to get a senior management position, increasing both your salary and influences.

You can also go for a related degree in chemical or biomedical engineering.

It is expected that up until 2026, there will be roughly 130,000 more jobs in the engineering field.

Final Thoughts

Of course, this list is not conclusive, and there are many more degrees that are 100% worth pursuing right now – you are still more than certain to find a well-paid job in finance or as a medical doctor.

Some fields may require you to get the highest academic degree, while in others, it will be a way to add to your skill set and increase your potential salary.

Whatever your motivation, please remember that pursuing a doctoral degree will always demand quite a sacrifice from your part.

So, make sure you have time and money to spend (unless you are eligible for a scholarship), and that you are genuinely interested in what you want to study; otherwise, it may quickly become a nightmare.

About the author

CB Community

Passionate members of the College Basics community that include students, essay writers, consultants and beyond. Please note, while community content has passed our editorial guidelines, we do not endorse any product or service contained in these articles which may also include links for which College Basics is compensated.