5 Highest Paying Jobs with a Master’s Degree

According to Payscale, a popular career and salary advice website, the five highest paying jobs with a master’s degree are petroleum engineering, nurse anesthesia, strategy, general management and real estate finance. Payscale maintains the world’s biggest database of over 50 million salary profiles through big data technologies and real-time intelligence. Let’s further explore these high-paying positions.

1. Petroleum Engineer

One of the best paying jobs with a master’s degree is that of petroleum engineer. Petroleum engineers ensure all oil and gas field operations are planned and executed in accordance with established safety and environmental policies and procedures. They are responsible for the design, planning, support and wrap up of assigned activities within project scope, budget and schedule. Petroleum engineers often travel to remote project locations to direct and oversee operations. They collaboratively work with subcontractors and other professionals while at these remote sites. They coordinate or supervise specialty subcontractors to ensure work is performed per project specs and schedules. They are responsible for conducting placement, cementing, tooling and engineering risk reviews. They prepare cost estimates by projecting the necessary equipment, personnel and services required to conduct onshore and offshore operations in remote locations.

2. Nurse Anesthetist

Certified, registered nurse anesthetists administer anesthesia-related care in certain medical situations. These include pre-anesthetic evaluations, anesthesia induction activities, post-anesthesia care and peri-anesthetic support activities. They perform and document pre-anesthetic assessments of patients, which includes consultations, diagnostic studies and the selection and ordering of pre-anesthetic fluids and medications. Certified registered nurse anesthetists perform a variety of anesthetic techniques that include general, regional and local anesthesia and intravenous administration. They must also select and administer accessory drugs and fluids needed to manage the actual anesthetic procedure. During this time, they will monitor the patient’s physiologic homeostasis and respond to abnormal responses to the anesthesia before the procedure or surgery.

3. Strategy Consultant

Strategy consultants provide various phases of client services and engagements and are among the highest paid workers with a master’s degree. Their responsibilities include data analysis and modeling, structuring projects into work flows and developing frameworks for analysis and reporting. They usually manage and oversee the work of internal analysts, interns and staff who provide temporary administrative support. Based on the data that is collected, they will synthesize findings to identify key insights and recommendations. In order to accomplish this, they may prepare and conduct customer, employee, management and industry expert interviews. Strategy consultants are often asked to work with senior management to identify business development opportunities, develop well-researched proposals and present the information to executives.

4. Upper Management

Other high paying positions with master’s degree are in business management. Top-level business managers must understand the needs of their organization in order to design and optimize effective systems and processes that drive benefits, revenue and change. They may focus on daily operations, or they may create and execute improvement plans for target units and departments. Members of upper management mentor subordinate managers and help them work on projects, establish independence and reach business objectives. They may work in multiple disciplines across an enterprise to build knowledge, credibility and competency. Some members of upper management design and conduct risk, readiness and performance assessments. They evaluate the results and present findings to executives in logical and easy-to-understand ways.

5. Real Estate Finance

Real estate financial professionals support the organizational needs of property research, due diligence, processing entitlements and project development. They work with sales, marketing, finance, construction and management teams to successfully reach goals and complete development projects. They help managers with real estate contracts, budgets and schedules. They prepare information packages for the purposes of obtaining debt and equity financing and mortgage financing approval from FHA and FNMA. They provide input for real estate project schedules and effectively communicate these to consultants and city officials.

Earning a master’s degree usually equates to an increase in salary. Before earning your degree, consider the 5 highest paying jobs available with a master’s degree. In addition to these, other lucrative positions include electrical, computer, chemical and biomedical engineering.

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