A new study examined the employment and earning outcomes of PhD students one year after graduation.
Engineers followed by math, computer science and physics grads were among the highest earners making more than $65,000 on average, straight out of school.
Arts and humanities, biology and education grads were among the lowest earners, making well under $50,000 per year. This could be due to science and health researchers pursuing postdoctoral fellowships after their degree instead of entering the workforce.
PhD grads who pursued jobs in industry made the most money and were well above those in worked in academia and government.
So why aren’t doctoral students being prepared for jobs outside of academia?
“PhDs should have access to education, knowledge, experience that is not only academic, because the largest group of them are not going to be in academic positions.” – Michael Teitelbaum, a demographer at Harvard Law School’s Labor and Worklife Program
It seems like getting a PhD is worth it if you are open to working outside of academia and know how to convince employers that you have the necessary skills.