More professionals are pursuing advanced degrees than ever before. This is especially true of engineering and other science-related fields.
The National Center for Science and Engineering Statistics (NCSES) found the number of doctorates awarded in the science and engineering category rose from 41,187 in 2021 to 46,394 in 2024.
For many, obtaining a doctorate is viewed as a necessary step in gaining additional technical knowledge, enhancing credibility within one's chosen industry and addressing real-world problems. While the reasons for earning a doctorate may vary, one detail does not: a doctorate degree increases the odds of a higher salary and better career opportunities.
Investment in additional education is often a solid move. Of those doctorate recipients surveyed by NCSES in the “engineering” and “multidisciplinary/ interdisciplinary sciences” subcategories, 72 percent had definite job commitments.
According to Imed Bouchrika, Research.com's co-founder and chief data scientist, wages are almost 50 higher for professionals with doctoral or professional degrees.
“Choosing the right doctoral program can mean the difference between a good salary and a six-figure career path,” he wrote (Research.com, 2024).
The right program, however, depends on a variety of factors, including job demand, job growth outlook and career path, Bouchrika said. For example, some degrees may lead to a high salary, but face “sluggish hiring trends” long term. Computer and information research scientists, on the other hand, not only earn high salaries but also enjoy a 23 percent projected growth rate.