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“Make the world a better place”… get a PhD in Economics…

December 8, 2015 by EL Mechry EL Koudouss

pickettySo, you want a PhD? Economics is among the top in terms of “high meaning*” and expected salary. Of course hard working multi-disciplinary economists like Thomas Piketty also become wealthy writing interesting books that combine meticulous research (hundreds of years of French tax records) the literature of the landed classes (Balzac, Jane Austin..) with original insights culled from economics, sociology and history. Even at 700 pages, Capital in the 21st Century is a good read and an better listen using online data and Figures). *”High Meaning” is the % of respondents who feel they “make the world a better place.”

Rank Major Degree Type Early Career Pay Mid-Career Pay % High Meaning
1 Electrical & Computer Engineering (ECE) PhD 102000 142000 0.61
2 Computer Engineering (CE) PhD 111000 139000 0.61
3 Chemical Engineering PhD 92300 138000 0.65
4 Biomedical Engineering (BME) PhD 86800 137000 0.84
5 Economics PhD 98200 134000 0.7
6 (tie) Electrical Engineering (EE) PhD 102000 133000 0.69
6 (tie) Organic Chemistry PhD 79000 133000 0.61
8 Computer Science (CS) & Engineering PhD 104000 132000 0.74
9 Pharmacology PhD 70200 131000 N/A
10 Physics PhD 88100 130000 0.63
11 Computer Science (CS) PhD 112000 129000 0.63
12 Statistics PhD 99900 128000 0.72
13 (tie) Mechanical Engineering (ME) PhD 87800 125000 0.66
13 (tie) Pharmacy PhD 103000 125000 N/A
15 (tie) Aerospace Engineering PhD 93300 123000 0.52

Source: PayScale Human Capital (2015). Highest Paying PhD Majors by Potential Salary: www.payscale.com/college-salary-report/majors-that-pay-you-back/phd

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