Which Graduate Degrees Pay Off?

Going back to school to further your education may be the best option to ensure your marketability in an unstable job market.

For those who already have an undergraduate degree, you can vault up the salary range by getting a master's degree. A master's degree is also a great option for those recently affected by the job loss that's hitting many across the country.

There are many options suited to your undergraduate degree, but the best master's degree for salary and employment availability doesn't have any prerequisites. It's the physician's assistant master's degree.

Those obtaining a physician's assistant studies Master of Science degree can earn, according to a 2010 article in Forbes magazine, a median mid-career salary of $98,000. Opportunities in the field are expected to grow by 57 percent.

As a physician's assistant (P.A.), you'll be trained to practice medicine under the supervision of a doctor. You'll diagnose, treat minor injuries and give advice to patients. You may also prescribe certain medicines. Although most work directly for a doctor, some P.A.s are the primary care givers in certain areas, like rural towns or urban clinics.

As you might expect in our high-tech age, computer-related sciences will offer degrees that yield high paying, in-demand jobs. Computer science and information technology M.S. degrees will give you a median salary around $100,000 per year, according to various surveys and statistics. The drawbacks to these degrees are that they require several computing and mathematics-oriented courses as an undergraduate student. Moreover, these fields are relatively crowded currently, compared to the P.A. degree. However, the fields are still growing fast, according to the Bureau of Labor Statistics.

The human resources management master's degree is another program that offers graduates the potential to earn a high five-figure salary in a growing field. It would help if you are interested in the law and statistics, as the degree and the job you'll be performing requires knowledge of both. You won't need a specific college major to enter most programs.

Changes in our economy have increased the value of master's degrees that offer the opportunity to learn about the financial markets and growing a business; these are in high demand by employers. Many already know about the master's in business administration degree (MBA). Most high level company managers have one, from Wall Street to Hollywood. A master's degree in economics is the MBA's more academically-oriented cousin. Both degree programs are very competitive and have pre-requisites, but both have a median salary above $100,000.

Another change in our daily lives makes a master's degree in geology one that you should consider. With more interest in environmental protections and a scarcity of natural resources, the geologist has the tools to tackle these problems. You may get a job working on a research project studying the effects of soil erosion, or working for one of the big oil, mining or natural gas companies searching for new sources. Those with a geology M.S. degree are earning a median salary of $80-90,000.

Before picking a degree to pursue, you should consider life quality factors such as how long it takes to earn the degree, what kind of courses do you need, and which school may be the best for you. Many colleges and universities are offering many of these degrees online. Just make sure the program you pick is accredited by a supervisory board.

You'll also want to consider whether you'll end up liking the kind of work in these jobs. If you're a people-person, you may look towards the physician assistant's degree or in a health-related field. If you like spending a lot of time alone in front of your computer screen, perhaps an IT degree is the one for you.

Earning a master's degree is not easy, but if you're looking for a big pay raise, it may be the best option to take.